Binance is pushing back against a Reuters report that said customer funds on the world’s largest cryptocurrency exchange coming with company revenue in 2020 and 2021.
Binance chief communications officer Patrick Hillman called the story “weak” in a five-paragraph tweet on Tuesday.
“The story is so weak that they had to put it out there,” Hillman said, adding that “Reuters found no evidence that Binance client funds were lost or taken” in a transparent attempt to shield himself from a libel lawsuit. ” Beneath that, he then pinned 1,000 words of conspiracy theories (which we explained were false) with zero evidence other than a “former insider.”
Reuters, citing sources familiar with the situation, said the exchange combined customer funds with company revenue in 2020 and 2021.
“…a bank record reviewed by the news agency showed that on February 10, 2021, Binance combined $20 million from a corporate account with $15 million from an account that received customer funds,” Reuters reported. .
Reuters did not immediately respond to a request for comment.
US regulators charge against Binance
Binance was accused In March by the US Commodity Futures Trading Commission to allow trading firms based in the US to trade crypto derivatives on Binance’s international exchange.
at the age of 74 ComplaintThe CFTC said that some entities on Binance had “mixed funds”.
The regulator also said that CEO Changpeng Zhao had instructed employees and customers to bypass compliance controls in order to maximize corporate profits.
The CFTC also said in its lawsuit that Binance benefited some of its largest VIP customers through faster trade execution.
Zhao, also known as CZ, called the CFTC complaint “unexpected and disappointing.” Post,
CZ said, “Upon preliminary review, the complaint appears to be an incomplete description of the facts, and we do not agree with the characterization of many of the issues alleged in the complaint.”
