Binance CEO Changpeng Zhao (CZ) spoke out about the recent media allegations, saying that the exchange has been targeted with inaccurate and sometimes unethical reports.
In a new company blog, Czechoslovakia is responding to an article published by Reuters today alleging that the company evaded regulators in the US and UK.
Zhao says Reuters polled Binance before the story, and while CZ is happy to answer questions, the crypto billionaire says reporters reported an attempt to report on his family and personal life.
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The CEO is also responding to media allegations that the exchange is evading regulators by not publishing the exact addresses of all its offices.
“We are vigilant when disclosing office locations, branding on Binance, or appearing as Binance employees for security reasons. I want to protect our employees. However, regulators in every jurisdiction in which we operate have our local address and contact details on file and we have announced For main offices in Paris and Dubai.
We have also created a private part of the Binance website specifically for law enforcement.
Regarding allegations that Binance facilitated money laundering, CZ maintains that these allegations are false and would be almost insignificant even if true due to the massive amounts of volume the exchange is doing.
“There is a huge myth that crypto is a tool for criminals. Reuters reports that Binance has been used as an intermediary to launder at least $2.35 billion in criminal money, but it did not provide details on how this number was calculated, citing the fact that this represents less than 0.1%. of the total funds flowing through Binance since 2019.
Although the Reuters figure is greatly exaggerated, it still indicates that Binance is one of the most effective financial institutions in keeping illicit funds off its platform. We have zero tolerance for criminal activity.
In June, Reuters published an article speculating that Binance had failed to do its part in combating crypto-related crime and fraud after the US Securities and Exchange Commission (SEC) announced that it would investigate the company over the possibility of insider trading and others. allegations.
Binance has denied the allegations and released a whole series of emails between them and Reuters in an effort to give the public an opportunity to review Reuters’ framing of the correspondence.
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