Federal Probe into Binance: U.S. Authorities Summon Hedge Funds

Key Points: Federal prosecutors are investigating the operation of American hedge funds that use cryptocurrency exchange Binance.
Patrick Hillmann, chief strategy officer at Binance, stated that the company talks to almost every regulator around the world on a daily basis.
According to the Washington Post, American officials are seeking information from investment firms about Binance’s cryptocurrency exchange. Prosecutors are still discussing a possible settlement with Binance as they assess whether enough evidence exists to bring charges against the company. Patrick Hillmann, chief strategist at Binance, stated that the company speaks with “virtually all regulators across the globe” but would not provide details about the status of any American probe. Joshua Stueve, a Justice Department spokesperson, also declined to comment. The investigation into Binance takes place at a time when the cryptocurrency market is in extreme uncertainty. Concerns about the rogue and unregulated internet markets where digital assets can be purchased and traded have grown in response to the collapse FTX. Zhao is doubling down his criticisms of FTX and positioning him as an advocate for stronger industry regulation.
Regulators will rightfully examine this industry more closely, which is probably a positive thing.
Zhao stated this in November at an Indonesian conference. Hillmann claimed that Binance’s approach to regulatory compliance was poor in its early years of rapid development. He claims that Binance has been investing in compliance procedures, working with law enforcement and creating new technologies to capture criminals on its network. We encourage you to do your own research before investing.Join us to keep track of news: coincu.comThanaCoincu NewsTags: BinanceBinance CEObinance usChangpeng ZhaoCZCZ binancePatrick Hillmann