{"id":317097,"date":"2023-06-10T20:39:13","date_gmt":"2023-06-10T18:39:13","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=317097"},"modified":"2023-06-10T20:39:13","modified_gmt":"2023-06-10T18:39:13","slug":"cz-strongly-denies-allegations-of-binance-user-fund-diversion-amidst-us-sec-and-gary-gensler-pressure","status":"publish","type":"post","link":"https:\/\/crypto-news-flash.com\/de\/cz-strongly-denies-allegations-of-binance-user-fund-diversion-amidst-us-sec-and-gary-gensler-pressure\/","title":{"rendered":"CZ Strongly Denies Allegations of Binance User Fund Diversion Amidst US SEC And Gary Gensler Pressure"},"content":{"rendered":"<ul style=\"font-weight: 400;\">\n<li style=\"font-weight: 400;\"><strong>Binance\u2019s CEO is being accused of diverting a whopping $12 billion in user\u2019s funds to a firm privately controlled by him.\u00a0<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>Changpeng Zhao, also known as CZ, has taken to Twitter to thoroughly debunk these claims.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>The CEO of <a href=\"https:\/\/www.crypto-news-flash.com\/de\/?p=316210\">Binance<\/a> Changpeng Zhao, popularly known as CZ, has been accused of diverting customer\u2019s funds amidst the ongoing chaos between the SEC and the cryptocurrency market.<\/p>\n<p>In a recently published news article, crypto media outlet Coindesk stated that the U.S. SEC claimed that the Binance CEO moved a staggering $12 billion to firms under his control. \u201cBinance redirected $12 billion to firms controlled by CEO, Changpeng Zhao says.\u201d The article title read.<\/p>\n<p>The funds were said to have been transferred to CZ\u2019s firm Merit Peak. The transactions were allegedly made using a company called Key Vision Development Limited.<\/p>\n<p>Taking to Twitter, the CEO of the exchange has debunked the rumors. CZ went on to explain that the U.S. branch of the cryptocurrency exchange had an estimated $2 billion in user funds.<\/p>\n<p>He noted that due to market fluctuations the estimated amount is subject to constant change. CZ also explains that the numbers are bound to reduce, as users are withdrawing their funds due to the recent development. However, users&#8216; funds are still intact and have never been moved from the platform, CZ asserted.<\/p>\n<blockquote><p>\u201cThis is simply false. Not sure if it&#8217;s the journalist or the source. To the best of my knowledge, Binance.US had in total roughly $2 billion in user funds. This number in USD equivalents fluctuates a little as crypto prices change. And declining as users withdraw due to recent news. All user funds are accounted for, and never left the Binance.US platform (unless users withdraw themselves of course), ever.\u201d CZ wrote in a recent tweet.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This is simply false. Not sure if it&#39;s the journalist or the source.<\/p>\n<p>To the best of my knowledge, <a href=\"https:\/\/t.co\/hSHrrlF7o7\">https:\/\/t.co\/hSHrrlF7o7<\/a> had in total roughly $2 billion in user funds. This number in USD equivalent fluctuates a little as crypto prices change. And declining as users withdraw due\u2026 <a href=\"https:\/\/t.co\/5dBPRaaNZN\">pic.twitter.com\/5dBPRaaNZN<\/a><\/p>\n<p>&mdash; CZ \ud83d\udd36 BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1666848861497831449?ref_src=twsrc%5Etfw\">June 8, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3>Binance U.S. updates the public on its position as the its battle with the SEC continues<\/h3>\n<p>The speculations come not long after the U.S. Securities and Exchange Commissions slammed Binance and <a href=\"https:\/\/www.crypto-news-flash.com\/coinbase-defiant-sec-expected-to-lose-as-exchange-keeps-staking-service-and-vows-to-protect-customers-at-any-cost\/\">Coinbase<\/a>, another leading crypto exchange, with a lawsuit.<\/p>\n<p>The SEC is accusing the exchange of partaking in the unregistered offer and sale of securities. In addition, the SEC claims that the exchange also mingled the company\u2019s own funds with investors&#8216; funds.<\/p>\n<p>In a recent tweet, Binance U.S. explained that the SEC is using intimidating tactics to push forward an ideological campaign against the digital asset industry in America. Binance revealed that it will be suspending USD deposits and halting USD withdrawal challenges in. A bid to protect customers.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. <a href=\"https:\/\/t.co\/AZwoBOgsqS\">https:\/\/t.co\/AZwoBOgsqS<\/a> and our business partners have not been spared in the use of these tactics, which has created\u2026 <a href=\"https:\/\/t.co\/rlIe6swIoY\">pic.twitter.com\/rlIe6swIoY<\/a><\/p>\n<p>&mdash; Binance.US \ud83c\uddfa\ud83c\uddf8 (@BinanceUS) <a href=\"https:\/\/twitter.com\/BinanceUS\/status\/1666996908651323393?ref_src=twsrc%5Etfw\">June 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p>While we remain open to a productive compromise that enables a thriving digital asset marketplace in America, Binance.US will continue to vigorously defend ourselves, our customers, and industry against the meritless attacks of the SEC.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Binance\u2019s CEO is being accused of diverting a whopping $12 billion in user\u2019s funds to a firm privately controlled by him.\u00a0 Changpeng Zhao, also known as CZ, has taken to Twitter to thoroughly debunk these claims. The CEO of Binance Changpeng Zhao, popularly known as CZ, has been accused of diverting customer\u2019s funds amidst the<\/p>\n","protected":false},"author":66,"featured_media":127839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-317097","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":[],"_links":{"self":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts\/317097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/comments?post=317097"}],"version-history":[{"count":0,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts\/317097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/media\/127839"}],"wp:attachment":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/media?parent=317097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/categories?post=317097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/tags?post=317097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}