Changpeng Zhao, the CEO of digital currency trading platform Binance, said in a blogpost on May 7 that initial coin offerings (ICO) perform far better than venture capital funds (VCs), even with a high risk of failure.
Binance made the plans to set up a global compliance center based in Bermuda which will focus on Blockchain and cryptocurrency regulation and development.
Crypto exchanges are now making more profits than well established banks
According to the statement, Sequoia was seeking an injunction against Zhao which was meant to prevent him from negotiating with the investors.
This is good news for Binance users as the Exchange sprang back into operation after being down for several hours due to system upgrading. To appease customers, cryptocurrency exchange Binance grants every user 70 percent Fee Discount.