• Binance.US has disputed a Reuters report that its international partner Binance accessed the firm’s bank account and transferred over $400M.
• The report claimed that Binance moved $400 million from an account belonging to the American affiliate to a trading firm called Merit Peak.
• Binance.US stated that only executives of the platform have access to its bank accounts and that Merit Peak no longer operates on their platform.
Binance.US Disputes Reuters Report
Binance.US has come out to clear the air following reports that its international partner Binance accessed the firm’s bank account and transferred over $400M. Binance.US refuted an earlier report made by Reuters, which stated that the international exchange allegedly moved $400 million from an account belonging to the American affiliate.
Access To Bank Accounts
In an attempt to clarify the situation, Binance.US said that only executives of the platform had such access to its bank accounts.
Binance Transferred Over $400 Million
A report released by Reuters on Thursday (Feb 16, 2023) claimed that bank records and company messages revealed that crypto exchange giant Binance transferred over $400 million from a Binance.US bank account at Silvergate to a trading firm called Merit Peak in the first quarter of 2021. According to the publication, the trading firm listed CEO Changpeng Zhao, otherwise known as „CZ,“ as its manager.
Statement By Biance US
Biance US issued a statement via twitter stating it was incorrect and outdated without going into details while acknowledging existence of Merit Peak but stated it stopped operating with them in 2021 .The tweet further stressed that only executives of the company could access its bank accounts, adding: „Biance US has never -and will never – trade n
Conclusion
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In conclusion, this article is about how binance us refute claims made by reuters regarding transferring 400millions dollars from one their accounts , they state clearly only executive can access their banks account , and also merit peak no longer operational with them