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

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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.

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