Reuters Accuses Binance For Controlling Bank Accounts Of Binance.US
Binance’s Hold on Binance.US These accounts, including one holding funds from American customers, were authorized for operation by Silvergate Bank in 2019 and 2020, as stated in the records from those years. “Chen and her team had the ability to move funds within these accounts,” evidenced by company messages indicating that Binance .US employees had to request Chen’s team to process payments, even for basic operational expenses such as payroll. advertisement The newly discovered bank records challenge the notion of Binance .US operating independently from Binance . “The records and messages indicate that Binance maintained management control over the financial aspects of its U.S. affiliate,” specifically referring to its bank accounts at Silvergate Bank, as reported in the article. These findings expose the undisclosed level of access granted to Binance . Binance .US had previously denied any involvement from Binance in mana...