Binance's VIP Traders Were Preemptively Informed of Looming Fine

postedΒ  1 Dec 2023
Photo - Binance's VIP Traders Were Preemptively Informed of Looming Fine
Bloomberg reports that during a private dinner in Singapore, Binance alerted its VIP traders about an anticipated settlement with U.S. authorities, totaling $4.3 billion.

Held at the elite 1880 club, the meeting occurred well before the Justice Department officially released charges. It was an insightful session for market makers and traders about Binance’s legal state.

Discussions focused on the impending fine and whether Binance could financially manage it. Interestingly, while the company's CEO, Changpeng Zhao, was not present, the event was attended by Richard Teng.

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