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Binance CEO Changpeng Zhao Tells Employees: Keep Quiet or Quit

2 mins
Updated by Geraint Price
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In Brief

  • Binance CEO has warned staff to consider other career options if they are unsatisfied.
  • Internal chats were leaked just as Binance prepares for battle with the SEC.
  • Binance.US has halted all USD deposits and withdrawals due to regulatory troubles.
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Binance CEO Changpeng Zhao has warned staff that they should consider other career options if they are not satisfied with the company.

Leaked internal chats between “Sam Lim” (former compliance lead at Binance) and “Alvin” (previously head of business development) are being circulated as the exchange fights a lawsuit brought by the Securities and Exchange Commission (SEC).

CEO Warns Employees After The Leak of Binance’s Internal Chats

According to the Chinese news outlet Odaily, Changpeng Zhao wrote a letter to the employees referring to a tweet from Adam Cochran, a contributor at Yearn Finance.

Zhao expressed that the SEC’s use of the internal chats as evidence is absurd, but he also warned employees that “Everything you say could end up in court (or on the internet) some day.”

Lastly, he urged the employees not to waste their energy if they don’t like the job at Binance. Zhao wrote:

“More importantly, if you are not satisfied with working at Binance (or any company), you should talk to your manager and seriously consider your career options.”

In Binance’s internal chats, Lin and Alvin were mocking the compliance at the company. The screenshot below shows Lim, the former compliance lead saying that he has “nothing to prove” that Binance is clean.

Binance Internal Chats between Samuel Lin and Alvin
Adam Cochran. Source: Twitter

Zhao believes that the employees’ internal chats did a lot of damage to the company. On Monday, the SEC sued Binance for operating an unregistered exchange, misrepresenting traditional controls, and diverting customers’ assets.

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Due to the SEC lawsuit and regulatory troubles from the US, Binance.US decided to halt all the USD deposits and withdrawals from June 13.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...
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