Today, May 7 Binance CEO Zhao Changpeng has written a post in his Twitter account, in which he refuses to list on Binance those projects which have relationships with Sequoia.
«We may soon require all projects applying to list on Binance to disclose if they have any direct or indirect relationships with Sequoia».
This decision likely comes after Sequoia sued Zhao Changpeng for a failed investment deal. Negotiations between Sequoia and Binance broke down after Binance shareholders were not impressed by Sequoia’s valuation of Binance, at a proposed $80 million. And Binance CEO held fundraising talks with other potential investor, IDG Capital. Sequoia obtained a temporary injunction, in late December, to keep Zhao from talking to other potential investors.
At the end of April the High Court of Hong Kong has determined that the injunction should not have been granted, as it had been improperly obtained and constituted an abuse of process by Sequoia.
Probably, after all these disagreements, Binance does not want to have relations with projects related to Sequoia.
