Binance’s Chief Communications Officer, Patrick Hillmann, took to Twitter to vehemently deny allegations of Binance commingling buyer and firm funds as reported by Reuters. Hillmann referred to as out the story as weak and stuffed with conspiracy theories.
In his tweet thread, Hillmann highlighted that the Reuters article revolved across the time period “deposit” used on the transaction web page when customers bought Binance’s stablecoin, BUSD, issued in partnership with Paxos.
Hillmann clarified that customers have been merely shopping for a stablecoin, and it was explicitly acknowledged that the stablecoin was redeemable by Paxos. He argued that the usage of the time period “deposit” did not equate to the misuse or mishandling of funds. Hillmann criticized Reuters for publishing the story regardless of discovering no proof of Binance consumer funds being misplaced or taken. He accused the information outlet of placing up a protection towards a possible libel go well with by mentioning the shortage of proof upfront after which spinning a story across the unverified claims of a “former insider.”
Addressing the continued regulatory considerations round Binance, Hillmann acknowledged that the corporate has been clear about its previous shortcomings. He questioned the necessity for a revered information outlet like Reuters to “proceed making stuff up.”
Hillmann additional criticized the constant point out of Binance CEO Changpeng Zhao’s ethnicity with out noting that he is been a Canadian citizen because the age of 12, indicating an undercurrent of xenophobia.