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Binance denied on Feb. 27 that its alleged decision to transfer $1.8 billion of stablecoin collateral to hedge funds had any impact on user holdings. In a statement made to Forbes, Binance In his series of tweets, he addressed various claims from the Forbes article. This included a “backroom maneuver” when Binance transferred $1.8 billion in stablecoin Forbes alleges that Binance moved these funds without informing its customers. Citing blockchain data obtained from Binance digital wallets, the report states that Binance has hit back at the Forbes report that claims it quietly transferred $1.8 billion in client-backing collateral. According to the Forbes report, the prominent crypto Cryptocurrency exchange Binance moved $1.8 billion of collateral meant to back its customers' stablecoins to hedge funds last year, according to a Forbes article on Binance has disputed a Forbes report that claimed $1.8 billion in customer collateral was transferred without alerting users. Specifically, the initial report stated the Binance has been in the limelight since Forbes published a story claiming that the exchange transferred $1.8 billion in collateral to hedge funds without informing its In its latest backroom maneuver, Binance transferred $1.8 billion in stablecoin collateral to hedge funds, including Alameda and Cumberland/DRW, leaving its Binance quietly moved $1.8 billion of collateral backing its customers’ stablecoins without informing them, says a new report from Forbes. The vast majority of

Binance Disputes Forbes Report Claiming $1.8 Billion Customer Collateral Transfer

Binance has disputed a Forbes report that claimed $1.8 billion in customer collateral was transferred without alerting users. The controversy stems from allegations that Binance engaged in a "backroom maneuver" when Binance transferred $1.8 billion in stablecoin collateral to hedge funds.

The Forbes report alleges that Binance moved these funds without informing its customers. According to the Forbes report, the prominent crypto exchange Binance quietly moved $1.8 billion of collateral backing its customers’ stablecoins without informing them, says a new report from Forbes. Citing blockchain data obtained from Binance digital wallets, the report states that Binance.

Binance denied on Feb. 27 that its alleged decision to transfer $1.8 billion of stablecoin collateral to hedge funds had any impact on user holdings. In a statement made to Forbes, Binance has hit back at the Forbes report that claims it quietly transferred $1.8 billion in client-backing collateral.

In his series of tweets, he addressed various claims from the Forbes article. This included a “backroom maneuver” when Binance transferred $1.8 billion in stablecoin. The Forbes report specifically names Alameda and Cumberland/DRW as recipients of the funds.

The initial report stated that Binance has been in the limelight since Forbes published a story claiming that the exchange transferred $1.8 billion in collateral to hedge funds without informing its. The vast majority of the funds were allegedly moved without any notification to users.

The dispute highlights the ongoing scrutiny of cryptocurrency exchanges and the importance of transparency in handling customer assets. Binance maintains that all user funds are safe and secure.

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