High-ranking Binance executive Guangying Chen, a trusted ally of Binance CEO Changpeng Zhao, was the principal controller of five bank accounts associated with the supposedly autonomous U.S. subsidiary of the colossal crypto exchange, Binance.US, according to disclosed bank records.
Among these accounts, one contained funds belonging to American clients, Reuters reported.
These accounts, under the stewardship of Chen, were approved by U.S. financial institution Silvergate Bank (NYSE:SI) in 2019 and 2020, the documents from these periods revealed.
Consequently, Chen and her subordinates were given the authorization to mobilize funds in these bank accounts.
To execute payments, even for pa