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Binance insiders allegedly helping customers bypass KYC norms
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Though the world’s largest cryptocurrency exchange, Binance [BNB] has made significant efforts to be a leader in transparency since FTX’s demise, a new CNBC report claimed that Binance insiders were allegedly assisting users with circumventing security protocols.
According to the report, a bunch of insiders have allegedly been assisting customers to circumvent the exchange’s Know Your Customer (KYC) norms.
It was only last week that Binance co-founder and CEO Changpeng “CZ” Zhao tweeted that the exchange will convert the remaining $1 billion funds in its Industry Recovery Initiative to “native crypto,” as there are “changes in stablecoins and banks.”
<p lang=«en» dir=«ltr» xml:lang=«en»>Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency.— CZ
Read more on ambcrypto.comAbout this in other media
CFTC lawsuit spotlight’s how Binance sought to curry favour with big-ticket customers fnlondon.com /1 year ago
Binance-CFTC FUD puts BNB price at risk of drop toward $200 cointelegraph.com /1 year ago
Binance Coin Price Prediction as CFTC Sues Binance – Is This the End of Binance Crypto Exchange? cryptonews.com /1 year ago
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