Binance Not To Conduct IPO — Changpeng Zhao
Binance CEO Changpeng Zhao stated that the trading platform does not plan to conduct an initial public offering (IPO), according to his Twitter account.
#Binance have no plans for IPO, but that doesn't make those experiences less valuable in our new industry. On the contrary, those are very much needed. We are always looking for top talent, from traditional finance, internet ... any industry and anywhere in the world! https://t.co/inZZ9eww92— CZ Binance (@cz_binance) September 7, 2018
The talk about Binance's IPO began after the appointment of Wei Zhou to the post of the financial director of the exchange, who was previously an employee of the Goldman Sachs branch in Hong Kong and was engaged in investment. He also consulted companies on conducting of IPO on the NYSE and NASDAQ stock exchanges.
The head of the crypto exchange ended the rumors, saying that the initial public offering is not included in their plans, although the experience of Wei Zhou in this field will be useful in any case. Binance is always looking for talents from different industries around the world, Changpen Zhao said.
Crypto companies pay more attention to the IPO market and try to get the status of the public ones. Beiju Bhatt, Robinhood CEO, said that the startup is looking for a financial director to organize the initial public offering. Bitmain, the largest manufacturer of equipment for mining, is also interested in IPO through the Hong Kong Stock Exchange and plans to raise $3 billion.
As previously reported, Binance took part in the funding of Terra stablecoin. Moreover, in mid-August, the crypto exchange announced plans to launch a trading platform in Liechtenstein together with the LCX exchange.