titled “Who Is Guangying Chen, and Is Binance a ‘Chinese Company’?” Zhao wrote that he had met her in 2010 “when she was working at [his] friend’s wine store.” Chen also supplied alcohol for poker nights he hosted in Shanghai, according to a former Binance executive. “He changed her life,” the former executive added.
Rumors that Chen secretly controlled Binance began to circulate in 2020, after the friend of a disgruntled Binance customer put the company on blast in the Chinese social networking app Weibo, claiming his friend had lost 167 bitcoins on the platform.
As for her current whereabouts, Zhao stated in the 2022 blog post that Chen is a “passport holder in a European country, where she lives quietly with her family.”in the Maltese and Singaporean business registries appear to contradict that. According to the Malta registry, Chen updated the filings last June to register a new Chinese passport. China doesn’t allow dual citizenship, and the filings show that she resides in Singapore.
But unlike typical market makers that serve as independent high volume traders on exchanges, Sigma Chain was allegedly used to artificially drum up trading volumes on Binance.US using a process known as “wash trading”—sending crypto assets back and forth to create the appearance of customer activity—according to the SEC complaint.
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.
Source: CNBC - 🏆 12. / 72 Read more »