Binance Exec Refuses Mixing Users Funds; Debunks Report

Patrick Hillmann, Binance’s Chief Communications Officer commenting on the allegations hinted that it is a desperate move to publish a negative story against them. He claimed that the basis of all the assertions is users purchasing BUSD (Paxos) from the crypto exchange were transacted to a page that mentioned a deposit.

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Binance Executive highlighted that the traders on the exchange were purchasing the stablecoin that was redeemable by Paxos, while it was clearly mentioned on the alleged page.

Earlier, Paxos received the Wells Notice from the United States Securities & Exchange Commission (SEC). The Watchdog alleged that Binance USD (BUSD) was unregistered security. However, the New York Department of Financial Services (NYDFS) asked the stablecoin issuer to halt the service.

(THIS IS A DEVELOPING STORY)

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