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"We pulled back on some potential investments, or bids
on bankrupt companies in the US for now. Seek permission first," Zhao
wrote in a tweet, without elaborating.
The Bloomberg report, which cited an unnamed person familiar
with the matter, said Binance is considering ending business relationships with
banks and services firms in the United States, amid heightened regulatory
scrutiny of the company.
Binance is also reassessing US venture capital investments
and will consider de-listing tokens from any US-based projects, including the
major stablecoin USD Coin, the report said.
Word that Binance may drop its US partners comes a day after
Reuters reported that the global Binance exchange, which is not licensed to
operate in the United States, had secretly moved more than $400 million from
accounts held by its purportedly independent US partner. That money, according
to company messages, was shifted to a trading firm managed by Binance CEO Zhao.
"Like every other blockchain company, we are conducting
a careful cost-benefit analysis and will pivot our business as necessary to
protect our global user base," a Binance spokesperson said. The company
did not immediately respond to questions on which US investments Binance had
pulled back from.
US regulators have stepped up scrutiny of crypto companies
this year. The regulatory action comes after multiple meltdowns in the crypto
sector last year that saw a string of major industry players in the United
States and beyond collapse.
On Monday, New York's top financial regulator ordered the
company behind Binance's stablecoin to stop issuing the token.
Earlier this month Binance said it had suspended all dollar
bank transfers after a US banking partner, Signature Bank, dialled back
exposure to crypto firms. © Reuters
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