Binance is not licensed to operate in the U.S., but conducts its business in the country through Binance.US, which it has repeatedly insisted is an independent entity
But Reuters reported on Thursday that Binance had secret access to a bank account belonging to its U.S.
partner and transferred $400-million from the account to Merit Peak Ltd, a trading firm managed by Binance Chief Executive Changpeng Zhao.The crypto sector has also had a rough year after multiple major industry players blew up, including FTX, formerly one of Binance’s biggest rivals that sought bankruptcy protection in November.
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