Changpeng Zhao, the CEO of the largest crypto exchange Binance, denied media reports that the company has been experiencing difficulties with its management staff for several months.

Fortune recently published article, which discussed the departure of three senior executives from Binance. Hon Ng, Binance General Counsel, Steven Christie, Senior Vice President of Compliance, and Patrick Hillmann, Chief Strategy Officer, have announced they are leaving the company.

The publication stated that “Binance is plunging into a governance and strategic crisis.” According to Fortune, these “high-profile layoffs” are related to the ongoing investigation by US law enforcement into Binance. Another possible reason is accusations by the US Securities and Exchange Commission (SEC) that the exchange trades in unregistered securities.

However, Hillmann clarified that he maintains a good relationship with Binance, and the main reason for his departure is replenishment in the family. Hillmann thanked Changpeng Zhao for the opportunity to work under him. Compliance Officer Noah Perlman confirmed that he will remain with the company.

Zhao commented on the situation on Twitter, stating that the media is making up reasons for some executives to leave, spreading Fear, Doubt and Uncertainty (FUD). According to Zhao, staff turnover is present in all companies. However, in 6 years, Binance has grown from 30 to 8,000 people, in five months since its founding it has become the largest cryptocurrency trading exchange, and still holding its positions.

Zhao often refutes media reports published about him or Binance. A few months ago, he denied Bloomberg reports that his net worth exceeded $28 billion. In April, Zhao also denied rumors that he had received a notice from Interpol.