Binance denies commingling 'billions' in customer funds
Binance denies commingling 'billions' in customer funds
States Reuters' report was "weak"
Binance is firing back at a Reuters special report from Tuesday that said the crypto exchange commingled billions worth of customer funds in 2020 and 2021.
The report cites interviews with three unnamed "former insiders," one of whom claims to have direct knowledge of the Binance group's finances.
The insider said the funds in question "ran into billions of dollars" and that "commingling happened almost daily" in accounts the exchange had at collapsed U.S. lender Silvergate Bank.
Patrick Hillmann, Chief Communications Officer of Binance, took to Twitter to dismiss the Reuters report, calling it "weak" and filled with "conspiracy theories.”
“We’ve been very public about where the company had regulatory shortcomings in the past,” he wrote, “there’s no reason for a respected news outlet like Reuters to continue making stuff up.”
Later, Hillmann noted that Binance had addressed the issue "on multiple occasions."
"We keep our user and corporate funds on completely separate ledgers...We know who their sources are, and @Reuters will be embarrassed when it becomes public," he tweeted, referring to the former insiders cited by the news outlet.
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