Benzinga – by Murtuza Merchant, Benzinga Staff Writer.
Bitcoin (CRYPTO: BTC) self-custody company HOME CEO Nick Neuman on Thursday expressed concerns over what it called unusual activities surrounding the global cryptocurrency exchange. Binance and its American subsidiary Binance.US.
Highlighting the importance of self-preservation in wealth management, Neuman urged individuals to take care of their assets.
These revelations should be a hot topic at the next Benzinga Future of Digital Assets Conference on November 14, where experts will delve deeper into the rapidly evolving crypto landscape.
Drawing parallels with last year’s collapse of companies like FTX And Celsius (CRYPTO: CEL), Neuman noted how many members have moved their assets to Casa vaults for enhanced security.
However, his message focused on growing concerns about Binance and its US subsidiary, Binance.US.
Over the past few months, several reports have surfaced casting a shadow over Binance’s operations, he said.
On the shutdown of a Binance stablecoin by a crypto company Paxos to accusations of Binance mixing customer funds with company revenue, and even to banks restricting Binance’s access to the US banking system.
Benzinga has reached out to Binance for comment on Neuman’s remarks.
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Other concerns include Binance’s decision to leave the Netherlands amid potential investigations in France and Binance’s CEO. Zhao Changpengfacing possible indictment in Brazil.
Neuman said that while it is difficult to pinpoint the exact situation at Binance, the signs seem “abnormal.”
He urged members to be careful, suggesting there may be more to the story than meets the eye.
He further advised Binance.US customers on how to recover their funds, especially with the recent cessation of direct dollar withdrawals.
Additionally, it reinforced the mantra “not your keys, not your coins.”
Read next: Cryptocurrency custody service provider Atato confirms integration with Cronos Chain and XRP Ledger
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Photo via Shutterstock.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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