London, NY The world’s largest crypto exchange, Binance, has reportedly used access to an independent US partner’s bank account to move more than $400 million to a trading firm. This emerged from bank records and company news from the crypto exchange.
In the first three months of 2021, the money is said to have flowed from the California-based Silvergate Bank to the trading company Merit Peat, which is chaired by Binance CEO Changpeng Zhao, Reuters news agency learned after looking at the records for the quarter in question . The filings showed that Binance’s US account was registered under the name of BAM Trading, the operating company of the US exchange.
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