Financial Times: Funds are pulling back from Binance

Scambinance.com's goals and objectives are slowly beginning to come to fruition, as the Financial Times reports in its article Hedge funds back away from Binance after regulatory assault some funds are scaling back their presence and leaving the Binance exchange.

Several crypto funds have ended their cooperation with the Binance bitcoin exchange after regulators in several countries filed claims against it. The Financial Times cited ARK36 and Tyr Capital as examples, at least these funds stopped cooperating with Binance and it became publicly known:

"Our concern is to protect our clients from the uncertainty that the current tightening of the screws by the financial authorities of many countries provokes," - said Ed Hindy, co-founder of Tyr Capital.

ARK36 CEO Ulrik Lykke saw the latest developments around Binance as a "wakeup call" for anyone who holds "serious" capital in Binance casinos. He expressed concern that the campaign has affected banks and payment systems servicing the exchange, with many financial partners refusing to cooperate with Binance for obvious reasons.

The Financial Times noted that the latest development has led to one unnamed crypto fund refusing to start operating on Binance. Binance told the publication that it "has not seen a decline in interest from institutional investors. Its representatives stressed that they are registering an influx of clients, including from traditional finance, how much you can believe the statements of Binance representatives, everyone decides for himself, given that nothing but deception and lies they have never stated.

Financial Times observers have pointed out that Binance is seeking increased oversight of AML requirements. According to Hindi, the platform has enough resources to adjust to the tightening of regulatory requirements, or, Binance will take those resources from the platform's users as usual.

Recall, in June, Binance's trading turnover decreased from $1.5 trillion to $668 billion. The bitcoin exchange accounted for 44.5% of the leading spot platforms. Also, let's remind that the trading turnover of Binance is extremely doubtful metric, taking into account the fact - that the majority of trading volumes exchange falsifies and exaggerates in hundreds, and thousands of times.

28.07.21

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