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Binance denies IPO speculation as it announces new CFO

The CEO takes to Twitter to announce: ‘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’

Cryptocurrency exchange Binance has brought in Wei Zhou as Chief Financial Officer.

Zhou, who started his career at Goldman Sachs Hong Kong in investment banking, brings over 15 years of executive experience at technology, internet and media companies where he has built up expertise in financial management and accounting, capital markets and investments, as well as growing and scaling business operations in both China and the US.

Previously, Wei served as CFO of Zhaopin.com and Charm Communications and led these companies through their IPO listings on the NYSE and NASDAQ. In addition, he orchestrated the acquisition of LGBTQ+ social networking platform, Grindr, where he currently serves as the Vice Chairman.

IPO

Somewhat unsurprisingly, the hire has fuelled speculation that Binance is preparing for an IPO. However, CEO, Changpeng Zhao, has tweeted: “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!” 

*Insert thinking face emoji here*

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