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Binance CEO Changpeng Zhao has categorically denied the allegations not too long ago revealed by CoinDesk stating that $12 billion had been redirected to corporations underneath his management. The unique report was based mostly on claims made by the Securities and Alternate Fee (SEC).
In a tweet issued a couple of minutes in the past, Zhao referred to as the report “merely false,” expressing uncertainty about whether or not the misinformation originated from the journalist or the supply itself. He assured Binance’s customers that each one funds had been accounted for, and that no cash ever left the platform, except customers themselves initiated withdrawals.
In response to Zhao, Binance’s U.S. platform had roughly $2 billion in consumer funds, an quantity that fluctuates barely as cryptocurrency costs change. He additionally acknowledged a current lower in these funds resulting from customers withdrawing their property, which may very well be a direct response to the troubling information.
Whereas the Binance CEO didn’t present any proof to again his assertion, his sturdy rebuttal underscores the rising tensions between regulators and cryptocurrency exchanges. These allegations have come amidst elevated scrutiny of cryptocurrency exchanges and associated entities by the SEC.
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