Binance CEO refutes report on $250M loan to BAM Management By Cointelegraph
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Binance CEO Changpeng Zhao has disputed a recent report that claimed the executive took a $250-million loan from BAM Management, a firm that acts as Binance.US’ holding company.
On Sept. 19, a report from the media outlet Decrypt interpreted court documents related to a lawsuit between Binance and the United States Securities and Exchange Commission. The report said that Binance.US’ legal team claimed in the documents that BAM Management US Holdings “issued a $250 million convertible note to Zhao in December.” However, Zhao disputed the report and expressed his rebuttal on X (formerly Twitter).
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Binance CEO Changpeng Zhao has disputed a recent report that claimed the executive took a $250-million loan from BAM Management, a firm that acts as Binance.US’ holding company.
On Sept. 19, a report from the media outlet Decrypt interpreted court documents related to a lawsuit between Binance and the United States Securities and Exchange Commission. The report said that Binance.US’ legal team claimed in the documents that BAM Management US Holdings “issued a $250 million convertible note to Zhao in December.” However, Zhao disputed the report and expressed his rebuttal on X (formerly Twitter).
Continue Reading on Coin Telegraph
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