Changpeng Zhao – CEO of crypto exchange Binance – believes his company has formed “a tight team” partly due to the “Fear, Uncertainty, Doubt” (FUD) that surrounds it on a regular basis. 

The firm has been coping with regulatory issues with the US Securities and Exchange Commission (SEC), the Department of Justice (DOJ), and other watchdogs over the years. CEO Zhao has been constant in his statements, claiming Binance cooperates with regulators, whereas some media outlets have wrongly reported negative news about the marketplace.

‘Fighting in the Trenches’

In one of his most recent Twitter posts, Changpeng Zhao (known in the crypto community as CZ) explained that the external pressure and FUD that have been hitting Binance are key factors that formed a “strong/tight team.” 

“It’s not fancy team building dinners, outings, etc. It’s not the coaching exercises, mentors, or magical shrinks. It’s not the rah-rah speeches of inspirational leaders. All of the above helps but fades over time, but the secret is just … some external pressure.”

The CEO claimed his team is “constantly in the trenches together,” which has built “reliance, alliance, resilience and most importantly trust” between the members. In addition, that struggle has united the Binance community, making them support the exchange even more.

“This, in turn, makes us more determined to drive towards our mission, to increase the freedom of money for people all around the world,” he added.

Despite the regular attacks, Binance (which turned six years this earlier this month) remains the world’s largest cryptocurrency exchange. Its market share in spot trading