US Senator Bill Hagerty implied that Binance is backed by the Chinese government during the hearing held today.
Speaking at the Senate Banking Committee hearing on cryptocurrency exchange FTX, Hagerty said that Binance It “has ties” to the Communist Party of China and “supported by the state” told.
In terms of Binance’s trading volume Seven times larger than FTX Senator Hagerty pointed out that if a crisis similar to that of FTX befall Binance, it will be “disaster” stressed the possible consequences.
Senator Hagerty also owns Binance. in the markets of developing countries, in “market-distorting ways” Said it was operating.
Just a month ago, Binance CEO Changpeng Zhao As it is a Chinese company responded to the allegations, Binance is not a Chinese company emphasized and said:
“Let me tell you this. A Chinese company would never dare to publicly say that it is not a Chinese company.”