Binance and Binance.US more intertwined than the crypto firms disclosed report


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Global cryptocurrency exchange Binance (BNB-USD) (BUSD-USD), in an effort to prevent the threat of U.S. prosecution, created an American business -- known as Binance.US -- in 2019, but the two entities have been more intertwined than disclosures have revealed, the Wall Street Journal reported, citing messages, interviews, and documents from 2018 to 2020. The companies have mixed staff and finances, the report said, and also shared an affiliated entity that traded cryptos. While Binance mostly operated from China and Japan, one-fifth of its customers were located in the U.S., where regulatory scrutiny of offshore crypto-focused firms ramped up since the...