Binance CEO Changpeng ‘CZ’ Zhao described reports that he took a $250 million loan from BAM Management as “wrong information” in a Sept. 20 post on X (formerly Twitter).
Crypto media outlet Decrypt reported that Binance.US’ lawyers stated that BAM Management US Holdings issued a $250 million convertible note to Zhao in December. The media firm had relied on a June 6 court filing from the Securities and Exchange Commission’s (SEC) lawsuit against the exchange for its report.
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