Binance had secret access to U.S. partner account at Silvergate, Reuters says

Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to a trading company managed by Binance CEO Changpeng Zhao, banking records and company messages show, Reuters’ Angus Berwick and Tom Wilson report. Over the first three months of 2021, more than $400 million flowed from the Binance.US account at California-based Silvergate Bank to this trading firm, Merit Peak, according to records for the quarter, which were reviewed by Reuters. Reference Link