Binance’s web3 wallet now supports Bitcoin, Bitcoin Cash, Litecoin, Dogecoin, and the Sei Network.
Binance ex-CEO Changpeng Zhao has been committed to the defi wallet amidst these challenges, reflecting a dedication to innovation and user service. However, the integration of coins and Zhao’s efforts must be viewed through a lens of cautious optimism, as the company struggled to balance tech progress with the need for robust regulatory compliance and ethical business practices.
The Commodity Futures Trading Commission (CFTC) Commissioner’s reference to Binance’s $4.3 billion settlement, attributed to rule-breaking rather than fraud, casts a shadow over the company’s compliance practices.
The appointment of Richard Teng as Binance’s new leader signals a strategic shift, as Teng’s leadership promises a move away from previously outlawed behaviors, indicating an attempt to align more closely with regulatory expectations.