Did Binance mishandle customer funds?

Ore Huiying for The New York Times The Securities and Exchange Commission on Monday accused Binance, the world’s largest cryptocurrency exchange, of mishandling customer funds and lying to American regulators and investors about its operations, in a sweeping case that has the potential to remake the landscape of power and wealth within crypto.

Did Binance secretly send money to a separate company?

The S.E.C. said the world’s largest cryptocurrency exchange mixed billions of dollars in customer funds and secretly sent them to a separate company controlled by Binance’s founder, Changpeng Zhao. The nation’s top securities regulator filed 13 charges against Binance and its founder, Changpeng Zhao. Ore Huiying for The New York Times

What is Binance & how does Binance work?

Binance is the world’s largest cryptocurrency exchange. Through its online platform, the company offers simplified avenues for buying and selling cryptocurrencies and other digital assets, in exchange for small fees. Binance dominates crypto trading.