Binance CEO Changpeng "CZ" Zhao (pictured) stated on Thursday that users can "withdraw 100% of the assets they have on Binance" while stressing the company will not have any "issue on any given day."
"If 100% of the users withdraw 100% of the assets, we'll be fine," Zhao stressed in an interview with CNBC, attempting to offer a more optimistic view of the company's financial strength after the firm saw a wave of customer redemptions that reportedly neared $2 billion in 24 hours. "We have very solid revenue," he added.
Asked why Binance has not submitted a full audit, Zhao responded that most large auditing firms do not know how to audit a cryptocurrency company properly. He added that some had been hesitant to work with them following the FTX collapse. "Many audit firms are scared to work with crypto businesses, and there are audit firms that worked with FTX, and they got burned," he said.
