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Translated by:  OX Translation Team – Mike Hua

On the 15th May, Miles revealed on Gettr livestream that Changpeng Zhao embezzled 67% of Binance’s company fund to invest in NFT and Bitcoin, and now it is very difficult for Binance users to withdraw money to their bank accounts.

Image Source: coincu news

Miles said it is impossible now for many users to withdraw money from Binance at the same time, because Zhao purchased NFT and Bitcoin using company funds, and the investment is in critical loss.  In fact, Binance’s downturn is much more dramatic than Luna Coin, at least Luna’s collapse is publicly known.  When Bitcoin’s trade value fell 25%, 27% and even 35%, people still are unaware of the whereabout of Binance’s money.

Miles stressed he guarantees on his life that whenever any USD deposited in Himalaya Exchange will not get embezzled.  In any circumstances, commercial banks will not sustain a run on the bank.  Any commercial bank in the world will collapse facing such a run, because those banks already lend more than several times of its total deposits to other debtors.  Only Himalaya Exchange will not collapse facing any kind of withdraw from its system.

Image Source: linkedln

Miles believed that Zhao is an evil person.  When Miles heard the news that Zhao embezzled 67% of the money to purchase NFT and Bitcoin, he was shocked and cannot believe it. Considering physiognomy, Zhao is not a person with an extended lifespan, just like Jack Ma.   Both Zhao and Ma are fortunate before they reach 40 years old, after this point their lives are going south rapidly, even worse than Wang Jian (from HNA).  From what Zhao looks like, his fate is much worse than Ma and Wang Jian.

Reference: 
https://gnews.org/post/p2545265/

Edited and Proofread by: Linda Progress
Posted by: Peter Chen

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