BNB
Binance.US CEO Says Company Would Still Have Millions If There’s a Bank Run
by BSC News
December 20, 2022
Shroder reassures users to the solvency of the US franchise arm to the world's largest exchange.
Binance.US CEO and President Brian Shroder claims the US arm of Binance would still have millions in assets if every user withdrew all their money.
In a ten-part Twitter thread on Dec. 19 that addressed his firm's acquisition of Voyager’s billions of bankrupt assets, Shroder made use of the moment to reiterate the transparency of Binance.US.
During a market environment full of FUD and turmoil, Shroder reminded users that Binance.US is the “most licensed digital asset exchanges in the country – operating in 46 states & 3 territories.”
It wasn't until the seventh tweet in the thread that Shroder assured his 11k followers that Binance.US backs users’ funds 1-1 and could withstand a run if every user withdrew their funds.
The reserve funds of many crypto exchanges have been in the public eye recently. Binance.US is subject to audits and regulatory reporting as a centralized exchange within the United States.
Binance.US is the American arm of the world’s largest cryptocurrency exchange platform, Binance. Users on the platform can buy, sell, and trade over 60 popular crypto assets, including Ethereum (ETH), Solana (SOL), BNB Chain (BNB), and Bitcoin (BTC).
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