Share this article
Binance Executive Controlled Bank Accounts Belonging to U.S. Wing in 2019-20: Reuters
Binance.US had claimed to be independent from Binance at the time.
Updated Jun 5, 2023, 2:11 p.m. Published Jun 5, 2023, 2:11 p.m.
A Binance executive was the main controller of five bank accounts belonging to the crypto exchange's supposedly independent U.S. unit, Reuters reported on Monday, citing bank records.
Guangying Chen was authorized by the now bankrupt crypto lender Silvergate Bank to operate the accounts between 2019 and 2020, Reuters said. Binance.US had to ask Chen and her team to process payments, including the firm's payroll, according to the report, which also cited company messages.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Binance.US has always claimed to be independent from Binance.
Christian Hertenstein, a spokesperson for Binance.US, told Reuters that since Brian Schroder became CEO of the company in late 2021, "no one other than Binance.US officials have had control or access" to its accounts.
Zhao acts as Binance.US's chair and is its majority shareholder. The firm has been exploring ways to reduce his stake in order to enhance the exchange's reputation among U.S regulatory authorities.
Neither Binance nor Binance.US responded to CoinDesk's request for further comment.
Read More: Voyager Digital Says Binance.US Sent Letter Terminating $1B Asset Buy Deal
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
