Binance CEO: 'No Need for IPO... Financially Strong'

IconCryptoNewsTerminal Staff22 Aug, 2024

cryptonews.jpg

Binance CEO: 'No Need for IPO... Financially Strong'

Binance CEO Richard Teng told Coindesk in an interview that he doesn't feel the need to go public via an initial public offering (IPO) right now. 'Binance is financially very strong. There is absolutely no need for us to raise funds or go for an IPO at this point in time,' he said, adding that 'Binance was profitable five months from the day we started... IPO is something that has never been raised.' 'What’s important is to build a sustainable business that can thrive for the next 50 to 100 years, not just for the next few years of success,' he added.