The CEO of the world’s largest cryptocurrency exchanges Binance said that his company does not intend to conduct an initial public offer (IPO).
Rumors of a possible exit IPO on Binance spread after emergence of information that the financial Director Binance has become an experienced specialist in capital markets and risk management Wei Zhou.
Introducing Wei Zhou — Chief Financial Officer of #Binance pic.twitter.com/yIZeggIXgR
— Binance (@binance) 7 September 2018 R.
The new top Manager Binance previously worked in the Hong Kong division of Goldman Sachs, managing the investment banking. Prior to that, he specialized in preparing companies for IPO.
Considering the qualifications and track record Wei Zhou, it is not surprising that many thought that Binance is preparing to attract investment in traditional financial market. Soon, however, Chanpen Zhao issued a tweet, refuting this assumption.
#Binance have no plans for an IPO, but that doesn’t make those experiences less valuable in our new industry. On the contrary, those are very much needed. We are always looking for top talent, from traditional finance, internet … any industry and anywhere in the world! https://t.co/inZZ9eww92
— CZ Binance (@cz_binance) 7 September 2018 R.
Chapter profitable cryptocurrency company stressed that this method of attracting investment as IPO, may play an important role in the new industry. He also noted that Binance is constantly looking for talented people from traditional Finance and other areas.
It is worth noting that the IPO becomes the current trend of kryptonyte. So, in recent years more and more major players in the emerging market, and seek to become public companies. For example, recently it became known that deals with search financial Director team mobile app Robinhood, which also plans to launch an IPO.
According to Bloomberg, is preparing to raise $5 billion through the IPO, the largest manufacturer of mining equipment Bitmain. Also to place their shares on the Hong Kong stock exchange are competitors planning giant Canaan Creative and Ebang.