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Binance Had Secret Access to Silvergate Bank Account of US Partner, Moved $400M in 2021

At present, in-trouble crypto exchange, Binance is facing regulatory heat. It is alleged that Binance transferred $400 million from its Binance.US account to a company reportedly tied to CEO Changpeng Zhao.

Even the former chief executive officer at Binance.US was left in the dark about the concerned outflows. This has caused concern and scrutiny in the cryptocurrency community.

According to a Feb. 16 Reuters report, an investigation of Binance’s banking records and company messages showed that more than $400 million was sent in a series of transactions in 2021 from an account controlled by Binance.US to trading firm Merit Peak.

(By Shubham Pandey)

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BNB BNB $658.45
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Binance Binance.US Silvergate Bank
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