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Binance has not sold either bitcoin or Binance Coin, CEO says

Binance has not sold either bitcoin or Binance Coin, CEO says

FILE PHOTO: Changpeng Zhao, CEO of Binance, speaks at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta October 4, 2018. REUTERS/Darrin Zammit Lupi/File Photo

14 Jun 2023 05:54AM (Updated: 14 Jun 2023 07:52AM)

:Cryptocurrency exchange Binance has not sold either bitcoin or Binance Coin, its native token, the company's CEO Changpeng Zhao tweeted on Tuesday.

Last week, Binance was sued by the U.S. Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S. exchange.

The lawsuits against Binance and Coinbase Global have increased fears the crypto market's ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance's biggest competitor, last year.

Binance Coin has lost more than 20 per cent in value since the SEC's action.

Source: Reuters

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