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
Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
What to know:
- Exodus is launching a fully reserved, USD-backed stablecoin with MoonPay to power self-custodial payments in its crypto wallet app.
- The stablecoin will support Exodus Pay, a new feature enabling users to spend and send digital dollars without relying on centralized exchanges.
- With the launch, Exodus joins a short list of public companies, including PayPal and Circle, backing stablecoin products.
Top Stories
