The Hidden Puppeteer: Binance's Alleged Covert Control Over Binance.US Accounts Draws Scrutiny
Portfolio Pulse from Murtuza Merchant
Bank records reveal that Binance executive Guangying Chen controlled five bank accounts associated with Binance.US, the supposedly autonomous U.S. subsidiary of the crypto exchange. These accounts were approved by Silvergate Bank (NYSE:SI) in 2019 and 2020. Binance.US denies claims of Binance controlling its bank accounts.
June 05, 2023 | 2:13 pm
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Silvergate Bank (NYSE:SI) approved bank accounts associated with Binance.US, which were allegedly controlled by Binance executive Guangying Chen.
Silvergate Bank's approval of the bank accounts associated with Binance.US may draw regulatory scrutiny, but it is unclear how this will impact the bank's stock price in the short term. The bank's involvement is limited to account approval, and Binance.US denies the claims of Binance controlling its accounts.
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