Insider: After failing to shut down Binance.US, CZ attempted to sell the company.

According to sources cited by The Information on August 2nd, Binance founder CZ attempted to shut down Binance.US earlier this year, but the board voted and failed to get the unanimous support required to make the decision. Binance.US was valued at $4.5 billion by investors last year. The source said that Binance.US CEO Brian Shroder was the only one to oppose the decision, as he was worried that a sudden shutdown could force Binance.US customers to quickly transfer or liquidate cryptocurrencies, thereby damaging their interests. CZ later attempted to sell Binance.US and held talks with executives from Gemini and sovereign wealth funds. Binance and Gemini spokespeople did not immediately comment on the matter. A Binance.US spokesperson did not respond to multiple requests for comment.