accountant, Sachin Verma, detailed a tangle of transactions that companies associated with the giant cryptocurrency exchange had made through two banks: Silvergate Bank and Signature Bank, both of which failed this year. separately said it estimated unpaid taxes by Binance over the past four years carried an interest penalty of more than $13 million. Though it estimated that Binance earned almost $225 million from 2019 to 2023, the regulator didn’t say how much the company paid in taxes over the period, or how much it should have paid. sued Binance in federal court in Washington, D.C., accusing the company of mishandling customer funds, lying to regulators and investors about its operations and engaging in manipulative trading. U.S. regulators have asked a federal judge to temporarily freeze assets tied to Binance’s subsidiary in the United States, and Wednesday’s filing was in support of that request.

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Persons: Sachin Verma, Changpeng Zhao, Binance Organizations: Securities and Exchange, Silvergate, Signature Bank, Washington , D.C Locations: Kazakhstan, Lithuania, Seychelles, Washington ,, U.S, United States