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Binance Answers Elizabeth Warren Without Addressing Financials

  • Crypto exchange’s letter touts compliance efforts and staffing
  • Binance had until March 16 to provide answers to US senators

Crypto exchange Binance responded to harsh criticism and demands for answers about its business from US senators including Elizabeth Warren.

In a 14-page letter seen by Bloomberg, Chief Strategy Officer Patrick Hillmann described Binance’s work to build out its compliance program and team — but he also provided scant details on the company’s finances. The response failed to provide a lot of the information lawmakers asked for in their March 1 letter that called Binance a “hotbed” of illegal activity. Hillmann’s response said the company prioritizes regulatory compliance, citing “misconceptions” about the company.