News Formal

Binance's former chief financial officer did not have access to the company's full accounts during his three-year tenure, report says

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Binance has financials that are more akin to a 'black box,' with certain business units submitting 'scant information,' Reuters reported on Monday.

Beata Zawrzel/NurPhoto via Getty Images

Binance's chief strategy officer said that the report's depictions of its business units are"categorically false." The outlet reviewed filings by Binance entities in over a dozen jurisdictions where the exchange says it has"regulatory licenses, registrations, authorizations and approvals," which include locations like European Union states, Canada, and Dubai.

The company also doesn't report revenue, profit, or cash reserves. Binance has its own token, dubbed BNB, but hasn't revealed what role the coin plays on its balance sheet yet.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance Finalizes Acquisition of Indonesian Crypto Trading Firm Tokocrypto.binance has finalized its acquisition of Indonesian crypto trading firm Tokocrypto, reported by coindesk_id. binance Tokocrypto coindesk_id PRHacks binance Tokocrypto coindesk_id is this news true cz_binance 🤔 binance Tokocrypto coindesk_id plain wheel
Source: CoinDesk - 🏆 291. / 63 Read more »