![]() ![]() Look at the numbers…īut the fact is, this type of headlines sell more clicks… Sad, but true. However, just hours after the article claimed that BNB had lost 90% of its customers, Changpeng Zhao, the CEO of BNB, came to Twitter to declare the statistic a “mis-quote.” He said: “We have lost 90% of customers after implementing KYC, losing billions in revenue,” he said. Tigran Gambaryan, one of BNB’s top compliance officers, claims that the decision has cost the cryptocurrency exchange “billions of dollars in income.” When he talked about how BNB is exponentially bigger than its rivals but using “actual math,” he pointed out that the prevalence of unlawful activity is the same everywhere. Notably, Binance controversially decided to lower the maximum amount of Bitcoin that users without Binance KYC (know your customer) accounts were permitted to withdraw from 2 BTC to 0.06 BTC in July 2021. In an interview published by CoinDesk on August 1, three of Binance‘s compliance team’s most senior members spoke about the difficulties the world’s largest cryptocurrency exchange by trading volume faces in these areas and how it has impacted them. Binance Loses 90% Of Users After Implementing KYC One of the biggest cryptocurrency exchanges in the world, Binance, like the majority of its competitors, has to deal with issues like money laundering, supporting terrorism, and negative news. ![]()
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