Exclusive-Crypto giant Binance controlled ‘independent’ U.S. affiliate’s bank accounts

A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. U.S. lender Silvergate Bank authorized the executive, Guangying Chen, a close associate of Binance CEO Changpeng Zhao, to operate the accounts in 2019 and 2020, according to records from those years. This allowed Chen and her deputies to move funds held in the

• 2023-06-05
• Changpeng Zhao Guangying Chen Silvergate Bank bank accounts bank account bank records company messages Hertenstein Chen Catherine Coley

Chinese Banks Court Crypto Firms in Hong Kong After Mainland Ban

(Bloomberg) -- Crypto firms rushing into Hong Kong after the city opened its doors to the battered sector are finding a surprising source of potential support: China’s state-owned banks.Most Read from BloombergFirst Citizens Nears Deal to Buy Silicon Valley Bank, Sources SayBond Traders Go All-In on US Recession Bets That Defy Fed ViewPutin Ups the Ante With Nukes in BelarusGreenland Solves the Daylight Saving Time DebateChinese banks have been directly reaching out to crypto businesses over the

• 2023-03-27
• Hong Kong Signature Bank Bank of China bank account Shanghai Pudong Development Bank Bloomberg News Chinese bank banking services digital asset bank accounts Bloomberg

Banks Are Breaking Up With Crypto During Regulatory Crackdown

The Securities and Exchange Commission and banking overseers are stepping up scrutiny following last year’s collapse of FTX.

• 2023-02-16
• digital currencies bank accounts