Binance reduces withdrawal limit from 2 BTC to 0.06 BTC

Binance reduces withdrawal limit from 2 BTC to 0.06 BTC

Binance cryptocurrency exchange has passed basic account verification by raising the daily withdrawal limit for new users from 2 BTC to 0.06 BTC.

For existing members of the exchange, the changes will take place in phases – from August 8 to 23.

Identity verification will increase the daily withdrawal limit up to 100 BTC.

Furthermore, Binance chief Changpeng Zhao wrote that his company is looking for a candidate for the CEO position.

“I have no plans to replace me as CEO. I/We would love to hire a CEO with vast experience in compliance. This is to demonstrate our commitment to regulatory compliance as it is the top priority of the organization.”

He expressed the opinion that the CEO should not stay in the company for more than 10 years – 5 years, in his opinion, is the optimal period.

Zhao stressed that “he does not need to be CEO,” and that he is not leaving Binance.

“I will always look for ways to contribute to the community behind the logo tattooed on my forearm.”

In May, during an interview with ForkLog, Changpeng Zhao expressed the opinion that a CEO who has been running a company for 10 years should give up his seat to someone else. Otherwise, the dynamics of the organization slows down.

He then said that he was looking at the transition and transfer of the CEO role, and also that he would like to focus on the development of the Binance smart chain ecosystem in the future.

As a reminder, recently Binance Reduced Up to 20x leverage on the futures platform. Shortly before this, the company announced the end of support for tokenized shares.

Changpeng Zhao in the East did not deny increase in regulatory pressure. He also informed about the ongoing efforts to move from startup to financial services.

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