U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe
It has been revealed that federal prosecutors in the United States are currently conducting an investigation into the relationship between Binance, one of the world’s largest cryptocurrency exchanges, and US-based hedge funds. This investigation is part of a wider probe into whether Binance has been involved in any activities that could be classified as money laundering, according to a report by the Washington Post. The US Attorney’s Office for the Western District of Washington in Seattle is leading the investigation, and in recent months, they have reportedly issued subpoenas to several firms requesting records of their interactions with Binance. These subpoenas have been seen by two individuals who have reviewed them.
Binance, which is known for its high daily trading volume, has come under intense media and regulatory scrutiny in recent times due to concerns about its business practices and financials. This scrutiny has only increased in the wake of the multi-billion-dollar collapse of FTX, which had a significant impact on investor confidence in the already volatile and troubled cryptocurrency market. It should be noted that the issuance of subpoenas does not necessarily mean that Binance or its CEO, Changpeng “CZ” Zhao, will face charges. Federal authorities are still in the process of discussing a potential…
