Binance’s top traders reportedly received advanced information about the crypto exchange’s undisclosed settlement with the U.S. Department of Justice in September, according to Bloomberg.
The exclusive details were allegedly shared during a dinner at a members-only club in Singapore, attended by VIP traders and Richard Teng, Binance’s current CEO.
The revelations prompt scrutiny amid legal challenges, including former CEO Changpeng “CZ” Zhao’s guilty plea and a $4.3 billion fine imposed on Binance.
Despite the controversy, under Teng’s leadership, Binance is advancing with innovations, such as the recent announcement of the world’s first cryptocurrency triparty banking agreement to address institutional investors’ concerns about counterparty risk.
Teng expressed enthusiasm for engaging with global policymakers and educating the next billion users in a recent blog post.
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