Binance Faces Accusations that It Mixed Customer and Company Funds
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Binance – the largest and most popular digital currency exchange – is in hot water again after former insiders alleged that the exchange combined funds from customers with those of the company. What Did Binance Do? In what could be argued as taking a page out of the FTX playbook, Binance is accused of not keeping customer and company funds separate. This would be a breach of U.S. financial rules. Binance has denied any wrongdoing. One of the insiders claims that the total of the commingled money is in the billions, and that this occurred almost daily through accounts the
The Securities and Exchange Commission (SEC) has made it very clear it doesn’t care if a crypto company is big or small. It will go after any digital currency enterprise with a persecuting hand, as it demonstrated yet again last month when it announced plans to sue Binance, the largest…
Germany has told leading digital currency exchange Binance that its regulators will not issue a crypto custody license to the firm’s executives. Germany Denies Binance Proper Licensure The country is not pleased, allegedly, with the way Binance is handling itself. The company has been on the brink of making every…