Binance, the world’s largest cryptocurrency exchange, allegedly mixed customer and company funds between 2020-2021.
According to Reuters’ recent news, which is based on 3 different sources familiar with the subject, to the center once again put the cryptocurrency exchange Binance. In the news in question, Binance’s contrary to the legal framework It was stated that customer funds were mixed with company funds.
Many similar events were reported by Reuters in the past. news put forward and almost all Binance of the façade his reaction had taken. In similar situations, with his statements, Changpeng Zhaoaccused the news agency of spreading fear and making such news to get clicks.
customer funds carefully separate According to sources stating that the at Silvergate Bank mingled with each other. Although the report did not specify exactly how many funds were mixed, Binance’s February 10, 2021 on $20 million corporate with the fund, $15 million client fund It was stated that the documents revealing the confusion were examined.
On the other hand, a source with direct knowledge of Binance’s group financing said that the exchange’s Silvergate Bankalmost in accounts each day confusion it happened expressed.
Binance spokesperson Brad Jaffewhile stating that there was no confusion in the funds, the process from Amazon He stated that he likes to receive the product:
These accounts were not used to accept user deposits; used to make it easier for users to buy crypto. There was never any confusion as these are 100% institutional funds. When users send funds to their accounts, this asset is held in Binance USD, not fiat currency. This process is exactly the same as buying a product from Amazon.
Although Jaffe’s explanations seem plausible, the opinions of former employees of the regulator on this statement hard it happened. Speaking to Reuters on the subject, the American old regulatorsstated that this rhetoric refuted the previous statements made by Binance spokespersons.
In the statements made by Binance spokesperson in the past period, it was stated that customer funds “depositStatements about being included in the account ” with tweezers The authorities, who brought it to the surface, said that the last statements made contradictory pointed out.
Former US Securities and Exchange Commission (SEC) official who stood out with his statements Reed Starksuch statements made by exchanges always clear it should be stressed:
Statements about where financial assets are stored should always be clear. But there is a contradiction here. Binance clients should hire a forensic accountant to find out where their money is.