According to the Wall Street Journal citing sources, Binance plans to reduce its US employees and fired dozens of employees last week. Some employees were not given any reason, and others were directly informed that they were fired. In addition, the source said, Binance executives were surprised when the US Securities and Exchange Commission (SEC) abandoned negotiations and chose to file a lawsuit against Binance and Changpeng Zhao. Since then, “Changpeng Zhao has spent most of his time at home in Dubai, Dubai and the United States do not have a mutual extradition treaty".