By Nathan Ferguson
Mike Alfred (a Bitcoin (BTC) enthusiast and value investor) has recently been vocal against Binance (a top crypto exchange) and made several unconfirmed assertions regarding the crypto trading company. One of his allegations says that the exchange is currently having a ‘decentralized’ Chief Financial Officer (or CFO), as per him. He additionally disclosed that Binance is communicating with prominent investors for credibility and support.
Mike Alfred Says There Is No Single CFO Operating at Binance
Particularly, Alfred stated that a conversation took place between him and a fund manager who is closely linked to an early Binance investor. According to him, the person informed him that the crypto exchange does not possess a single person that can play the role of its CFO. He shared a couple of lengthy posts on his official Twitter channel to share these claims.
In addition to this, he claims a team of more than twenty people working under the Treasury division of the crypto exchange act as Binance’s “decentralized CFO.” He added that this is so as Changpeng Zhao (the chief executive officer of Binance) does not allow for a single person to play the role of CFO to prevent centralization.
In addition to this, he asserts that the crypto exchange is actively interacting with the likely chief investors, taking into account Berkshire Hathaway of Warren Buffett regarding an equity round to enhance its credibility and support. Apart from that, he is of the view that the platform of Zhao has been talking to a tier-1 auditing firm for nearly a whole month.
Alfred suggests that the exchange has invested up to $500M in Twitter as $547M worth of BNB has been burned by it in the previous quarter of the current year. Several who commented on these statements ridiculed them and suggested that no interest would be shown by Berkshire Hathaway in funding Binance, keeping in view Buffett (its CEO) and his associate named Charlie Munger’s stringent resentment for crypto.
However, the others doubted the whole existence of the phone call. In the meantime, the latest study has placed the crypto exchange at the top position among the companies across the crypto industry. Binance has a group of nearly 7,300 employees and its hiring spree is continuously increasing without being affected by the hard tides of crypto winter that was intensified by the collapse of FTX.
The firm’s positive results have been witnessed approximately 1 month after the criticism of Zhao by Nouriel Roubini (a crypto skeptic economist). The economist showed disbelief that the crypto exchange was permitted to carry out its operations in the jurisdiction of the United Arab Emirates (UAE).
BNB Attracts Attention as the Suitable Investment for 2023
At present, BNB (the local token of Binance) is trading at nearly $246.04, 0.18% above its price a day before. With a sum of almost $39.36 billion as its market capitalization, BNB is placed as the 5th biggest crypto asset. The assets preceding it take into account USD Coin (USDC), Tether (USDT), Ethereum (ETH), and Bitcoin (BTC), as per the data provided by CoinMarketCap.
A noteworthy thing is that recently BNB token has been promoted as the finest investment opportunity for the coming year as the indicators of its technical analysis (TA) show a positive historical pattern notwithstanding the most-lengthy losing span since October this year, according to the reports.