LONDON, June 5 - A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show.
This allowed Chen and her deputies to move funds held in the bank accounts.
The previously unreported bank records and messages show that Binance’s management over the U.S. business’s finances extended across its bank accounts at Silvergate and detail how this secret access was granted.
Binance.US has denied that Binance ever operated its bank accounts.
‘PRIMARY ADMIN USER’The Binance.US trading platform was launched by its operating firm, BAM Trading, in mid-2019 under chief executive Catherine Coley.
Persons:
Guangying Chen, Changpeng Zhao, Chen, Binance, Binance.US, Krishna Juvvadi, Christian Hertenstein, Brian Shroder, ” Hertenstein, Zhao, “, Chen’s, Juvvadi, Reutersalso, Peak’s, Catherine Coley, Coley, Silvergate, James McDonald, Hertenstein, ”, Susan Li, Li messaged, Li, Angus Berwick, Tom Wilson, Janet McBride, Michael Williams
Organizations:
Silvergate Bank, U.S, Reuters, BAM, U.S . Commodity Futures Trading Commission, CFTC, “, Thomson
Locations:
U.S, Washington, American, US, Binance, Shanghai, Binance.US