The Wall Street Journal (WSJ) has once again published a critical article about Binance, the world’s largest cryptocurrency exchange. The WSJ has previously released several negative reports about the exchange.
In today’s news, the WSJ claimed that Binance is showing signs of decline, citing an unnamed source who allegedly saw an internal message from Binance co-founder Yi He. According to the WSJ’s alleged source, Yi He sent the following message to company employees:
“Every battle is a do-or-die situation, and the only thing that can defeat us is ourselves. We have triumphed countless times, and we need to emerge victorious this time as well.”
The WSJ report suggested that the US Department of Justice has been conducting a lengthy investigation that could potentially lead to criminal charges against Binance and its co-founder, Changpeng Zhao.
Binance CEO Zhao wasted no time in responding to the WSJ’s claims. He shared an article where Sam Bankman-Fried, the founder of the now-bankrupt cryptocurrency exchange FTX, was hailed as a hero of the cryptocurrency industry by the WSJ before his exchange faced bankruptcy.
Zhao indicated that the source behind the allegations against Binance should not be trusted.
Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.
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