JhonMick @jhonmick146@axpress.io
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As reported, US authorities sent subpoenas to American hedge funds and market-making companies dealing with Binance earlier this year, asking for records of their communications with the exchange.
Reuters added that records show Binance.US's executives expressed concern about the outflows because the transfers were taking place without their knowledge.
A Binance.US spokesperson said the report used "outdated information" and that Merit Peak was “neither trading nor providing any kind of services on the Binance.US platform.” She claimed that "only Binance.US employees have access" to the bank accounts of the U.S. company.
It is worth noting that the US Securities and Exchange Commission launched a probe into potential connections between Binance.US and the same trading firm in February 2022, looking into the relationship between Binance.US and trading firms Sigma Chain AG and Merit Peak.
The media reported that the Binance.US account was registered under the name of BAM Trading. Furthermore, the records show the transfers to Merit Peak began in late 2020.
Over $400 million flowed from the Binance.US account at California-based Silvergate Bank to Merit Peak, a trading firm linked to CZ, over the first three months of 2021, according to records for the quarter, which were reviewed by Reuters.
A new report shows that Binance moved more than $400 million from its purportedly independent U.S. partner to a trading firm managed by the company's CEO, Changpeng Zhao.
Binance Accused of Moving $400 Million from U.S. Partner to CEO's Trading Firm in Secret Scheme – Here's the Latest
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The comet C/2022 E3 (ZTF) became quite the celestial celebrity in early 2023 as its close approaches to the sun and then Earth made its bright green glow visible from our planet, but this might be its last visit.
Green comet C/2022 E3 (ZTF) may be heading out of the solar system for good
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The unprecedented collapse of FTX, which delivered billions in losses to retail customers, attracted the ire of regulators worldwide. Specifically, US prosecutors have ramped up efforts to bring crypto companies under their reign.
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The Commodity Futures Trading Commission also charged SBF with civil charges for fraud and said Bankman-Fried, FTX, and Alameda Research caused the loss of over $8 billion in customer deposits. The Securities and Exchange Commission has brought similar charges
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The DOJ has filed eight criminal charges, including wire fraud, money laundering, securities fraud, commodities fraud, and conspiracy to violate campaign finance laws against the disgraced crypto boss.
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He was eventually extradited to the US, where he was released from jail after posting a $250m bond in a New York court.
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FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November. Sam Bankman-Fried, the disgraced founder of FTX, was later arrested in The Bahamas after US prosecutors formally filed criminal charges against him.
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Damian Williams, U.S. Attorney for the Southern District of New York, filed the motion to hold off on civil proceedings until the Justice Department’s case against the former CEO is complete last week.
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Prosecutors also claimed that Bankman-Fried "could gather evidence in the civil cases to improperly impeach government witnesses, circumvent discovery rules in criminal cases, and tailor his criminal defense," the report said.
I am a student.
Joined Aug 2022