Right through a most stylish AMA, Binance CEO Richard Teng addressed accusations of misusing Launchpool funds, talked about the HBO documentary on Bitcoin’s creator, and outlined the company’s efforts against crypto scams.
Right through a question-and-reply session on X, Teng addressed allegations of the utilize of the company’s balance sheet capital to farm its launchpool, a job intended to aid the community.
He firmly denied these claims, stating that Binance prioritizes user security and equity in trading practices. Teng emphasized Binance’s strict interior policies, collectively with firing workers infected about unethical habits, and reassured users that these accusations are “misguided and will be unnoticed.”
Later Teng tweeted an replace, shared below.
Received a question on Launchpool allocations on the X Spaces earlier. Hope this clarifies!
Launchpool allocations from initiatives are strictly for Binance users and Binance does no longer plot shut profits from these allocations intended for users, and it’s miles indirectly on the discretion of…
— Richard Teng (@_RichardTeng) October 9, 2024
HBO’s Satoshi Nakamoto documentary
When asked referring to the HBO documentary on Bitcoin’s mysterious creator, Teng shared his perspective, humorously stating that “all of us are Satoshi,” in reference to the crypto community’s shared perception in Bitcoin’s transformative vitality.
He centered the query on Binance’s hasty say, highlighting that the platform has reached over 234 million users, with 54 million becoming a member of in 2024 alone. Teng believes the real Satoshi likely prefers to remain nameless and confused the significance of searching at for the long run of crypto adoption.
Binance’s fight against crypto scams
Addressing scam issues, Teng revealed that Binance has refrained from $2.4 billion of untrue pronounce this year alone.
He detailed Binance’s collaborations with regulation enforcement globally, serving to increase $7 million in stolen funds. Teng also highlighted the company’s tutorial efforts with universities and regulation enforcement agencies to wrestle fraud.
In leisurely September, Binance assisted India’s Enforcement Directorate in bettering $47.6 million from a gaming scam linked to the Fiewin app, ensuing in the arrest of four suspects. The change’s Monetary Intelligence Unit equipped key intelligence to music laundered funds, with the case peaceable under investigation.
Supporting Nigeria’s crypto ecosystem while advocating for Tigran Gambaryan
Teng expressed Binance’s dedication to fostering a brilliant crypto ecosystem in Nigeria, working with regulation enforcement to solve points and promote blockchain construction.
He also shared an replace on Binance’s efforts to stable the open of Tigran, a Binance employee detained in Nigeria, emphasizing the necessity for him to be launched.
“He’s in grief, and he is in very unsuitable health. Our priority is to acquire Tigran to acquire dwelling to his family so his space does no longer acquire permanent.”
Richard Teng
