Tough Times Ahead, Binance CEO Warns Employees

Story: Jai Pratap

Binance chief Changpeng Zhao warned his colleagues to expect tough months as crypto winter deepens.

However, CZ assured that they are prepared to face this challenge.

According to Bloomberg, CZ sent a memo to his employees saying that the industry is going through “a historic moment.”

CZ assured that Binance is in a strong financial position and “will survive any crypto winter.”

“While we expect the next several months to be bumpy, we will get past this challenging period – and we’ll be stronger for having been through it,” CZ wrote.

Since the implosion of FTX, the entire crypto industry has been spiraling down.

Binance saw massive withdrawals this week as CZ tried to assure customers their funds are safe.