EN: Binance.US keeps records of all user funds, which have never left the platform unless withdrawn by the user.

Binance.US stores user funds and only releases them when the user withdraws them.

On June 9th, Binance CEO CZ responded to CoinDesk’s report that “the US SEC says Binance transferred $1.2 billion to an account controlled by the CEO” on his Twitter, stating “this is completely wrong. To my knowledge, the total amount of Binance.US user funds is about $2 billion, which is subject to slight fluctuations in the equivalent dollar amount with changes in cryptocurrency prices and withdrawals due to recent rumors. All user funds are recorded and have never left the Binance.US platform (unless withdrawn by the user themselves).”

Reference: https://twitter.com/cz_binance/status/1666848861497831449?s=20

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Opinion

Former close friend to testify against SBF, list of other witnesses revealed.

SBF's trial started on October 2nd, and his once closest friends will testify in court, becoming his biggest threat. ...

Opinion

Overview of International Cryptocurrency Regulatory Agencies

We have studied 45 countries, including G20 member countries, as well as countries with the highest adoption rate of ...

Market

Why SEC Chairman Gary Gensler is Cracking Down on the Crypto Market: Latest Speech

SEC Chairman Gary Gensler gave a speech on June 8 at the Piper Sandler Global Exchange and Financial Technology Confe...

Bitcoin

The Ripple case: Over or Underdog Victory?

Missed the latest in crypto this weekend? Catch up on the top stories here!

Market

Jump Trading's Crypto Waterloo: Forced to Exit US Crypto Trading Market, Facing Terra Class Action Lawsuit

For Jump Trading, the traditional high-frequency trading giant in the encryption circle, the past year has undoubtedl...

Market

With the entry of big players and the halving narrative, is now the best time to buy Bitcoin?

Using the term "ups and downs" to describe the trend of BTC since June is not an exaggeration, or more precisely, it ...