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
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