Binance Probe Reaches Hedge Funds

US Federal Investigators have issued subpoenas to hedge funds connected to Binance in an ongoing money-laundering probe.

Prosecutors have come after American hedge funds to examine dealings with Binance that could have potentially violated money-laundering laws, according to a January 7 article in the Washington Post. Citing unnamed sources who reviewed the subpoenas, Douglas MacMillan and Tory Newmyer say that hedge funds received instructions to hand over communication records with Binance.

“In subpoenas sent in recent months, the U.S. attorney’s office for the Western District of Washington in Seattle directed investment firms to hand over records of their communications with Binance,” writes the report.

The previously unreported subpoenas do not constitute guilt or indicate that authorities will ever bring forth charges. Binance’s finances have been under scrutiny recently, especially as the exchange engrossed market share from the FTX Collapse.

What is Binance:

Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.

Where to find Binance:

Website | Twitter | Discord | Telegram |