Binance: Reuters report is false, users are actually purchasing stablecoins redeemable by Paxos

ChainCatcher news, Binance Chief Strategy Officer Patrick Hillmann responded to Reuters' report about "Binance allegedly mixing customer funds with company revenue in 2020 and 2021, violating U.S. financial rules requiring customer funds to be segregated," stating that when users purchase BUSD (Paxos) from Binance, they are directed to a trading page labeled with the word "Deposit." Users are purchasing a stablecoin that can be redeemed by Paxos, which is clearly stated on the page. The statement in the Reuters report that "Reuters found no evidence of Binance customer funds being lost or taken" is an attempt to protect itself from defamation lawsuits. (Source link)