- InspoCrypto highlights the potential risks and suspicious behavior of Binance.
- Parrot Capital stated the reasons why Binance is a potential risk.
- However, Zhao has claimed that FUD is temporary, and shares his reasons.
Investigating due to suspicion, InspoCrypto, a crypto analyst, took to Twitter to highlight the potential risks and suspicious behavior of Binance. InspoCrypto further shared the reports by another crypto analyst, Parrot Capital, who stated the reasons why Binance is a potential risk.
Parrot Capital spotted that a Canadian bank, TD Canada Trust, refused a user’s money transfer to Binance, even after the user was willing to handle the risk. When the user asked for the reason, TD Canada Trust mentioned that Key Vision Development Limited is flagged as a scam company, and the bank was protecting them from risks.
Showcasing the evidence, Parrot Capital pointed out that Signature Bank (SBNY) has turned the other cheek even though, community members faced “fraud” by Binance. Parrot Capital went further by sharing a crypto community member’s tweet who proclaimed that his money is missing while using Binance.
Parrot Capital ended his Twitter post by warning:
Pay close attention to the date in the original Reddit post. This was two years and many billion USD ago. It is unconscionable that SBNY enabled this for years.
Meanwhile, Binance enthusiasts have observed that FUD has been surrounding the crypto community, affecting the prices of many digital tokens. The CEO of Binance, Changpeng Zhao tweeted that FUD is temporary.
Reuters conducted an investigation last year on Binance claiming to avoid regulations set down by the country. However, this year regulators have taken a move towards creating more strict frameworks for crypto regulations.
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