The SEC’s case against Binance, a live reading by Liz Lopatto
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Binance had “secret access” to a bank account owned by a partner, and transferred money to a firm affiliated with Binance CEO Changpeng Zhao.
Binance.US’s executives were concerned by the outflows because the transfers were taking place without their knowledge, according to messages reviewed by Reuters. The CEO of Binance.US at the time, Catherine Coley, wrote to a Binance finance executive in late 2020 asking for an explanation for the transfers, calling them “unexpected” and saying “no one mentioned them.”
Fine and normal, we haven’t had any recent cryptocurrency issues with secret transfers, have we?
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