On June 7, cryptocurrency alternate Binance revealed a press release on its Chinese language social channels with the hashtag #StrongTogether. Amid ongoing litigation with the US Securities and Trade Fee (SEC), Binance mentioned its pockets addresses are clear and that the alternate by no means “siphoned shoppers’ funds” nor has “any collateralized borrowings.”
Moreover, Binance mentioned it by no means gave “giant donations” to political candidates nor made “giant sponsorships” to leisure and media entities. A translated model of the alternate’s message mentioned:
“Our group comes from many various races, ethnicities, and beliefs; we’ll proceed to BUILD for our customers and arise for the trade. We’re totally different than ___. We’re Binance.”
Although Binance didn’t particularly title the cryptocurrency alternate it’s making an attempt to distinguish from, troubled cryptocurrency alternate FTX has been accused of mismanaging shoppers’ property and lending cash to its sister hedge fund Alameda Analysis.
The alternate founder, Sam Bankman-Fried, is at present underneath home arrest awaiting trial on wire fraud costs. Bankman-Fried was the second-largest donor to the U.S. Democratic Celebration between 2020 and 2022 — alleging doing so by giving freely shoppers’ property.
As well as, FTX was previously the $135 million sponsor of the Miami Warmth enviornment. The alternate is present process chapter proceedings, with an estimated stability sheet hole of $8 billion, and owing an estimated $44 billion to the U.S. Inside Income Service by its subsidiaries.
On June 5, the SEC sued Binance, alleging the sale of unregistered securities to U.S. customers and working an unregistered alternate within the U.S. The lawsuit accused Binance of “commingling” and “diverting” buyers’ crypto and fiat funds. Knowledge compiled by blockchain analytics agency Nansen at present reveals Binance has a internet value of $59 billion.
— 币安Binance中文频道 (@binancezh) June 7, 2023