Crypto giant Binance moved $400 million from U.S. partner to firm managed by CEO Zhao

Crypto giant Binance moved $400M from U.S. partner to firm managed by CEO Zhao

Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show. Over the first three months of 2021, more than $400 million flowed […] The post Crypto giant Binance moved $400M from U.S. partner to firm managed by CEO Zhao appeare…

Binance secretly moved $400 million from its US partner to a trading firm managed by the crypto giant's boss CZ, report says

The supposedly independent Binance.US secretly sent large sums of money to Changpeng Zhao's trading firm, according to Reuters.

Binance moved US$400 million from US to firm managed by CEO Changpeng Zhao

The transfer came from a Binance.US account over the first three months of 2021, raising questions about its relationship with the global exchange from which it is supposed to be independent.

Crypto giant Binance moved $400 million from US partner to firm managed by CEO Zhao

The Binance.US account was registered under the name of BAM Trading, the U.S. exchange's operating company, according to the records. Company messages show the transfers to Merit Peak began in late 2020.

Binance has apparently moved 400 million dollars

An account from an independent US partner was used to transfer the sum to a trading company. The process is said to have taken place as early as 2021.

Crypto giant Binance moved $400 million from U.S. partner to firm managed by CEO Zhao

By Angus Berwick and Tom Wilson (Reuters) - Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account