Binance is firing back at a Reuters special report from Tuesday that said the crypto exchange commingled customer funds with company revenue.
The report, citing unnamed “former insiders,” 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. It also said Reuters did not find evidence that clients’ funds were “lost or taken.” Reuters had previously reported that Binance had been able to access and transfer funds belonging to Binance.US in a Silvergate account, a claim neither Binance nor Binance.US refuted.
“Commingling” or the mixing of customer and company funds has
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