Binance US CEO Brian Shroder assured his followers on Monday that his exchange is ready to process all last customer withdrawals, unlike certain competitors. .
He also purchased $1.02 billion worth of Voyager assets, expanding on his company’s successful bid to end bankruptcy proceedings for bankrupt crypto lenders as soon as possible.
Exchange FTX US
and twitter thread On Monday, Shroder confirmed that Voyager’s 3.5 million customers will soon be available. access their funds On the Binance US platform. Customers have been unable to access their accounts since July, despite the company obtaining court approval. return We will give some money to investors in the next month.
According to Schroeder, their bid does not include cashing out customers’ digital assets, allowing them to hold onto their cryptocurrencies. He said the company always maintained his one-to-one reserve against customer deposits, was subject to regular audits, and did not offer margin trading or engage in proprietary trading. , added that it does not hold corporate debt.
“Binance.US is well capitalized. Our assets exceed our liabilities,” he wrote. “All customers can withdraw their assets tomorrow. This is their right and they still have hundreds of millions of current assets.”
According to FTX bankruptcy lawyer, a competing exchange went bankrupt because it engaged in many of the activities Schroeder listed. This includes margin trading with client assets at Alameda Research.
The previous boss, Sam Bankman Freed, Claim FTX US was still fully solvent and the exchange was included in bankruptcy proceedings. As such, Voyager withdrew the property’s previous successful bidder. cherished $1.4 billion in October.
“We will do everything in our power to speed up the legal and court approval process,” continued Schroeder. “Our current goal, pending court approval, is to enable users to access their assets by March 2023.”
Binance VS Binance US
Like FTX US, Binance US claims to operate independently of its international version. The company’s claims to regular audits contrast with those of Binance CEO Changpeng Zhao. claimed It is difficult for crypto companies to be audited.
Binance is proof of reserves According to this month’s analysis, the company in charge abandoned crypto services last week due to misunderstandings about what their reports were publicly presenting.
Monday, Greyscale CEO Michael Sonnenshain rejected The idea that even if cryptocurrency exchanges try to secure an audit, they can’t secure it.