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Did Binance send $400 million to merit peak?

According to a Feb. 16 Reuters report, an investigation of Binance’s banking records and company messages showed that more than $400 million was sent in a series of transactions in 2021 from an account controlled by Binance.US to trading firm Merit Peak.

Was Binance behind a $400 million transfer from a US account?

An investigative report has suggested that major cryptocurrency exchange Binance was behind the transfer of roughly $400 million in funds from a Binance.US account to a trading firm managed by CEO Changpeng Zhao.

What is Binance US?

Binance US is a digital asset exchange for U.S. customers. It is a partner of the world's biggest crypto exchange Binance but is ostensibly independently run. Reuters also cited text messages from Binance US executives concerned about the flow of funds.

Did Binance have secret access to a bank account?

Feb 16 (Reuters) - Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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