Binance CEO Denies Reports He Met with Investors in Abu Dhabi To Raise Money In Funds To Help Crypto Projects

Binance CEO Changpeng “CZ” Zhao has denied reports that he met with investors in Abu Dhabi. to try to raise money for the company’s crypto recovery fund

According to a report from Bloomberg on Nov. 22, CZ and other Binance-related companies discussedwith raising money for funds intended to help projects with potential liquidity problems Zhao and the Binance team reportedly met with potential backers associated with UAE national security adviser Sheikh Tahnoon bin Zayed. While the Binance spokesperson said the meeting “Focusing on common regulatory issues around the world”

The Binance CEO first announced the fund on Nov. 14 after FTX experienced a “liquidity crisis” and filed for bankruptcy. It is currently unclear how large Binance intends for the fund to be.

Based in Dubai since October 2021, CZ has continued to push for wider crypto adoption in the Middle East. by in september Dubai Virtual Asset Regulatory Authority It has given Binance the green light to offer its virtual assets to qualified retail and institutional investors. And Abu Dhabi’s global regulator of markets and financial services allowed Binance to offer crypto in November.

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