TechFlow reported, citing two sources familiar with the matter, that earlier this year Binance founder Zhao Changpeng (CZ) attempted to shut down its U.S. subsidiary Binance.US in an effort to protect the broader Binance entity. This move triggered discussions and a board vote.
According to one of the sources, the Binance.US board held a vote on whether to liquidate the company, but failed to reach a unanimous decision. The sole opponent was Binance.US CEO Brian Shroder. He expressed concern that abruptly closing the exchange could force customers to rapidly transfer or liquidate their cryptocurrencies, potentially harming users. Therefore, he believed it was more important to maintain operations for the benefit of customers.
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