TechFlow news — Binance's new CEO Richard Teng responded to community inquiries regarding whether Binance can afford the settlement penalties, stating, "Binance is in excellent financial health with a solid business foundation. We became profitable almost from day one and have remained profitable ever since.
In terms of trading volume, we continue to be the largest cryptocurrency exchange globally. U.S. regulators have not alleged that Binance misappropriated user funds. User assets are fully backed 1:1, and users can withdraw 100% of their funds at any time. Binance now has more registered users than ever before, reaching 166 million.
These fines are not an issue. We will continue moving forward with moderate expenses but strong profits and revenue."
