The founder and CEO of the Chinese crypto-birge Binance, Zhao Changpeng, has denied rumors that the company plans to conduct an Initial Public Offering (IPO).
Zhao Changpeng in his twitter denied the information published in the media article that the Binance Exchange is hiring a new CFO from Wall Street, in preparation for the IPO:
#Binance have no plans for 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
The article mentioned that Zhou already has similar experience and financial management skills, because he “conducted through the IPO maze” two large corporations on the NYSE (New York Stock Exchange) and Nasdaq (the American stock exchange specializing in high-tech stocks). However, the author of the article noted a low probability that for Binance, which has $200 million of quarterly profit, additional financing against the public quotation is something attractive.
In the meantime, the mining company Bitmain is planning an IPO this month. According to the company’s forecasts, after the completion of sales, its total cost may reach 40-50 billion. However, the Chinese media predict the IPO Bitmain failure. On Thursday, the Fintech startup Robinhood joined Bitmain, officially announcing that it is already looking for its CFO to lead the process.