Zhao Changpeng is under review by German regulators

ChainCatcher news, citing sources from The Wall Street Journal, reports that Binance CEO Changpeng Zhao is under scrutiny by German regulators. The Federal Financial Supervisory Authority (BaFin) of Germany has suggested that Binance withdraw its license application due to concerns about Zhao and Binance's complex structure.

A Binance spokesperson responded that The Wall Street Journal's report is inaccurate. Binance voluntarily withdrew its license application and will continue to cooperate with regulators.