On 15 January, blockchain analytics firm Chainalysis released a report claiming that cryptocurrency exchanges, Binance and Huobi, had received around 50% of all cryptocurrencies laundered through OTC brokers in 2019. While the blame was not placed primarily on these exchanges, but rather on OTC brokers that sent the laundered funds to them, Binance CEO Changpeng Zhao responded to the same recently.
“Chainalysis’ business is charging exchanges for this data,” he said, adding that this problem wouldn’t exist if they made the data publicly available. He also stated that Binance is a paying customer of Chainalysis and that it is “bad business etiquette” for them to behave this way. In a reply to another tweet, CZ went as far as to claim that this could be in violation of the client privacy agreement between Binance and Chainalysis.
However, Chainalysis was quick to respond, commenting that the report had been published to promote the good work of exchanges like Binance that make crypto safer for everyone. “Our report on money laundering revealed a network of corrupt OTC brokers and was not aimed at Binance, our long-standing partner,” the firm said. …
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