Reuters, Binance 2020And 2021in the year customer funds with company their incomeclaimed to have combined it.
While the crypto market continues to stagnate and exhibit a calm price volatility, news flows that will create a bombshell effect continue to come to the sector.
Finally Reutersthat Binance equates client funds with company revenues, and as such 2 years of service expressed. According to Reuters’ special report, Binance, USA financial rulesviolated.
Shocking Claim About Binance
Reuters, by referring to three sources that dominate the subject Binance He created a special article about him. According to this news Binancemixed client funds into company account in 2020 and 2021.
ReutersOne of the sources, Binance He stated that . Allegedly, Binance silvergate BenchHe kept client funds and company funds in his accounts.
The sources, who stated that there were confusions in the accounts of Binance, which is called the largest crypto exchange in the world, also mentioned the lack of control.
Reuters included the statements of three former US regulators. According to these explanations Binancehas lacked the controls needed to ensure client funds are clearly identified and separated from company revenues.
This led to the mixing of client funds with company funds, making the status of client assets mysterious.
Securities and Exchange Commission Internet Enforcement OfficeJohn Reed Stark, former chief executive of Binance, said that Binance customers should not need an accountant to find their assets.
Finally, Reuters reported that Binance reached out to them and denied the rumors that the funds were mixed. Binance spokesperson Brad Jaffe said: He told Reuters;
These accounts were not used to accept user deposits; used to make it easier for users to buy crypto. Since these are 100 percent institutional funds, there has never been a mix-up.
Jaffe argued that this is the same as ordering from Amazon.
