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Binance Denies That Liechtenstein Regulator Stopped CEO From Serving On Union Bank Board
Summary: Binance is denying reports from a Swiss media outlet claiming that Liechtenstein’s Financial Market Authority (FMA) had prevented Union Bank from placing Binance CEO Changpeng Zhao on its board. The Bank was seeking to add Zhao to its board as it was facing bankruptcy following a money laundering scandal. However, a Binance spokesperson told Coindesk that ...
Binance is denying reports from a Swiss media outlet claiming that Liechtenstein’s Financial Market Authority (FMA) had prevented Union Bank from placing Binance CEO Changpeng Zhao on its board.
The Bank was seeking to add Zhao to its board as it was facing bankruptcy following a money laundering scandal. However, a Binance spokesperson told Coindesk that the exchange never filed an application to invest in Union Bank.
The report from the Swiss media outlet claims that Binance was looking to invest in the struggling bank and repurpose it as a platform for crypto investors. Binance's spokesperson did not tell Coindesk if the reports covering the deal were factually inaccurate.
By Emily Mason
Tags: Binance,Financial Market Authority
Link: Binance Denies That Liechtenstein Regulator Stopped CEO From Serving On Union Bank Board [Copy]
