Mike Alfred Claims Binance Has ‘Decentralized’ CFO, Talks with Warren Buffett

    Worth investor and Bitcoin (BTC) enthusiast Mike Alfred recently made a few (yet unconfirmed) claims about the crypto trading platform Binance, including that it has a ‘decentralized’ Chief Financial Officer (CFO) and that it is in talks with major investors for support and credibility. Specifically, Alfred stated he had a phone conversation with “a fund manager closely connected to one of the earliest investors in Binance,” who informed him that Binance has no single individual acting as a CFO, as he explained in a series of tweets posted on December 22. Instead, he asserts, a group of over 20 staff in the crypto exchange’s Treasury serves as a “decentralized CFO,” as its co-founder and Chief Executive Officer (CEO) Changpeng Zhao “doesn’t want a single centralized CFO.”

    Mike Alfred further alleged that Binance is engaging in discussions “with potential new ‘keystone’ investors, including Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A), concerning an equity round that would provide support and credibility to the company.” Moreover, according to Alfred, CZ’s firm has been having conversations “with a tier 1 auditor for a month,” and it invested $500 million in Twitter (NYSE: TWTR), as it burned $547 million of BNB in the last quarter of 2022.

    Warren Buffett as Binance investor?

    His comments have been met with skepticism by some, who argued that Berkshire Hathaway would never invest in Binance due to Warren Buffet and Charlie Munger’s negative opinions on crypto, while others doubted that the phone call even occurred. Meanwhile, recent research has ranked Binance as the largest organization in the crypto industry, with a team of 7,300 employees, as hiring in the sector continues despite setbacks such as the collapse of FTX and bear markets that have dominated most of 2022.

    The positive outcomes for the company come one month after economist and crypto critic Nouriel Roubini lambasted its CEO on stage at the Abu Dhabi Finance Week, expressing disbelief that Binance was allowed to operate in the United Arab Emirates (UAE).

    BNB worth evaluation

    At present, BNB, also known as Binance Coin, was trading at the price of $246.04, up 0.18% in the past 24 hours but still down 2.08% compared to the previous seven days, with its monthly losses amounting to 17.31%, according to data retrieved on December 23. With a market capitalization of $39.36 billion, it holds the position of the fifth-largest cryptocurrency by this metric, preceded only by Bitcoin, Ethereum (ETH), Tether (USDT), and USD Coin (USDC), as per the latest CoinMarketCap data.

    BNB 7-day worth chart. Supply: Brokers

    In addition, Binance’s native token has recently been dubbed as ‘one of the best investments of 2023’, as its technical analysis (TA) signals showed a favorable historic pattern despite the longest losing streak since October, as Brokers previously reported.

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