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FMA Rejects An Application For Union Bank To Bring On ZHAO Changpeng As A Major Shareholder

Tracy CHEN

Summary: The Liechtenstein Financial Market Authority (FMA) has rejected an application for Union Bank to bring on Binance chief executive as a "major" shareholder.  The investment in Union by Binance CEO ZHAO Changpeng would have saved the bank from closure after recent financial and legal troubles, including an ongoing corruption case involving its former majority backer.  ...

The Liechtenstein Financial Market Authority (FMA) has rejected an application for Union Bank to bring on Binance chief executive as a "major" shareholder. 

The investment in Union by Binance CEO ZHAO Changpeng would have saved the bank from closure after recent financial and legal troubles, including an ongoing corruption case involving its former majority backer. 

The bank had plans to relaunch as a crypto banking platform, but is now in the process of liquidating.

Tracy Chen

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Link: FMA Rejects An Application For Union Bank To Bring On ZHAO Changpeng As A Major Shareholder   [Copy]
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