TechFlow news, according to Wu Shuo Blockchain Report, Binance's global exchange is considering raising investments from sovereign wealth funds controlled by governments in Singapore and other locations at a valuation between $200 billion and $300 billion, in exchange for enhanced protection.
It is reported that recently Binance has been successively warned by financial regulators in Brazil, Australia, the Netherlands, and other countries. In response, Binance has enforced mandatory KYC procedures across all its services and reduced the maximum leverage for futures contracts from 125x to 20x. Binance's founder and core team are based in Singapore, and the company was listed in the recent digital payment license notice issued by the Monetary Authority of Singapore (MAS). Additionally, Binance has hired Richard Teng, former CEO of Abu Dhabi Global Market, to lead its operations in Singapore as Chief Executive Officer.
