BREAKING: Binance CEO Speaks Out On LEAKED Binance Chat Logs
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June 9, 2023 11:15 am
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Things just went from bad to worse for Binance. …
ProCoin News recently reported that the exchange has shifted to a ‘crypto only‘ exchange and will halt all USD deposits and withdrawals by June 13, 2023.
Regulators seem to be hitting the world’s largest centralized crypto exchange hard. …
Trending: JFK-Inspired Meme Coin Explodes After President Trump Signs Executive Order Declassifying JFK Files
As part of the ongoing SEC investigation into Binance, the SEC has reportedly leaked internal chat logs between executives at the exchange. …
The content of the chat logs certainly doesn’t bode well for Binance and even Chanpeng Zhao, the current CEO of Binance, has stated that they are incredibly ‘damaging’.
Adam Cochran provided many concerning portions of the chat logs and told the Twitter community that he will return with more. …
According to Cochran, there are over 80 other documents relating to Binance that he has to read through.
2/15
Specifically tells Alvin to take his BNB bonus and dump it into USDT as it'd be dumb to hold. pic.twitter.com/2qL23fjhbU
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
4/15
Sam notes he feels the risk reward isn't balanced and that he wouldn't feel comfortable signing off on the OFAC compliance stuff if he was CCO (during a convo of trying to get an American lawyer to come on as CCO) pic.twitter.com/r51BZcCF2O
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
6/15
Most interestingly when talking about it he mentions that Wei and CZ "know exactly what the hell happened" in regards to why people don't want to sign off on the OFAC reporting. pic.twitter.com/MfRDl6CtAj
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
According to Crypto News:
“It’s ridiculous for the SEC to use this as a poster, but we’ll let the lawyers take care of it,” the crypto boss wrote.
The crypto boss also noted that even though the chat between Lim and Alvin was a “personal” complaint made five years ago, “it did a lot of damage to our reputation (and theirs).”
“Binance is cooperating with investigators. They usually ask for our chat history first. Everything you say could end up in court (or on the internet) someday.”
8/15
They talk about how CS is teaching people how to circumvent procedures, and how business priorities supersede any compliance training.
And that the BNB strategy is "to survive for 2 years and then fuck off" pic.twitter.com/NkpMcWBDNG
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
10/15
As well as internal convos during the launch of Binance US in which Binance execs were talking about "leaving a door open" for US users via purchased KYC and VPNs pic.twitter.com/MIBXRqXef9
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
12/15
Goes on to say "we always have a way for whales" "thats the nature of our biz" pic.twitter.com/QBpyJuUF0J
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
14/15
Internal convos with Cooley where Binance International staff convert USD into BUSD and can't chase down why: pic.twitter.com/DjtPHmVF0A
— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023
Decrypt focused on other comments the embattled CEO made:
The translated memo on Odaily also shows Zhao saying that employees “not satisfied working at Binance” should “seriously consider” their career options.
Binance did not immediately respond to a request for confirmation from Decrypt.
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