Friday, April 19, 2024

Binance denies commingling

By DAC000 , in Binance Regulation , at May 24, 2023 Tags: ,

customer funds. About a one minute read, link to original Reuters article for the deep dive.

Comment: note the purpose of the alleged commingling was to purchase and hold Binance’s native token, BUSD. We have to see the end of exchanges launching their own tokens. The brokerage firm where I hold my stocks and bonds doesn’t have their own token that they roll my excess cash into. If Binance is indeed doing this, it’s a bizarre and self serving practice.