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CZ, CEO of cryptocurrency exchange Binance, answered many questions about his company and FTX during a recent interview with CNBC.
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Reuters published a report last week claiming that Iranian companies traded $8 billion on Binance despite sanctions.
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CZ answered questions about Binance and its role in helping Iranian companies to launder money.
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"Number one is a false report by Reuters. Currency.com, a website that was owned by Russia, provided the information to Reuters.
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Currency.com was once owned by Russia. I believe FTX purchased a portion of the equity.
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We believe Currency.com provided Reuters with access to a platform that gave them incorrect data. "
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CZ stated that Binance uses all industry platforms, such as Chainalysis and Elliptic, to monitor transactions.
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Law enforcement agencies use these tools. Binance believes its practices meet industry standards, he stated.
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Changpeng Zhao, Binance's CEO, has also pointed out that his cryptocurrency exchange is not in competition with FTX.
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