Binance, under the leadership of Zhao, is navigating a $4.3 billion fine, with a first installment of $900 million due by March 25. The SEC's investigation focuses on whether Binance Holdings Limited, Zhao, or any affiliates have control over BAM's Customer Assets. In a move to comply with regulations, Binance has urged prime brokers, including FalconX and Hidden Road, to conduct stricter checks to deter US investors from its platform, requesting detailed customer information to ensure compliance.
.@binance is asking its prime brokers to improve their KYC to block U.S. nationals, Bloomberg reports. @thesamreynolds writes. https://t.co/3LD2Ys58zP
.@binance tasks Prime Brokers with checks to root out US investors. https://t.co/OZ9qcZ0Xaw https://t.co/EgYoUjQ0Kc
Binance seeks prime brokers’ help to skim off US investors from platform: Bloomberg https://t.co/HBfMnhNWAt
Breaking: @binance tasks prime brokers with checks to "root out" US investors 👀 https://t.co/bpowXQndbp
Bloomberg: Binance has asked prime brokers to conduct stricter inspections to prevent American investors. Binance asked FalconX and Hidden Road, among others, to provide more customer information, including office addresses and the locations of employees and founders.…
Binance has asked prime brokers to run more stringent checks to keep US investors off its crypto exchange, sources say https://t.co/T3OSQIGn8P
The SEC wants to know: Who holds the keys to @BinanceUS's assets? ✍️ by @the_postman_ 📃 via @SECGov 🗞 Read more: https://t.co/V7AawFUsr5 https://t.co/ZGkLJHgiNG
🧐 "In the words of the SEC, the question is “whether Binance Holdings Limited (’BHL’), Zhao, or any of their affiliated entities have any custody, control, or the ability to transfer BAM’s Customer Assets.” ✍️ by @the_postman_ 🗞 Read more: https://t.co/hLwSqJG7Vf https://t.co/Leqi8ITBVC
Our story from yesterday. We look at how Binance is going to find the money to pay the first installment on its $4.3b fine. They owe $900m by March 25. https://t.co/51EqwQ31uK