Changpeng Zhao, the CEO of Binance, has emphatically contested recent claims regarding a $250 million loan allegedly obtained from BAM Management, an entity serving as the holding company for Binance.US.
The controversy arose on September 19 when a report by Decrypt, a media outlet, scrutinized court documents pertaining to an ongoing legal battle between Binance and the United States Securities and Exchange Commission (SEC). According to Decrypt’s report, legal representatives for Binance.US insinuated in these documents that BAM Management US Holdings had issued a “convertible note of $250 million to Zhao” back in December. However, Mr. Zhao has firmly refuted these allegations, publicly expressing his rebuttal on X (formerly known as Twitter).
