A Secretive Executive Heina Chen Controls Binance Treasury

A Secretive Executive Heina Chen Controls Binance Treasury

Fobes published a article titled: "Meet Heina Chen, The Secretive Executive Holding The Purse String At Binance".

Accoridng to Forbes, Chen seemingly has no official title at Binance or visible public presence, though Binance documents obtained by the SEC describe her job as “finance director.” The company hadn’t publicly acknowledged Chen’s existence at all before posting a blog by Zhao last September that downplayed her role as overseeing “admin and clearing.” However, a investigation found that Chen has controlled more bank accounts and served as a director at more Binance entities than any other executive besides CEO Zhao.

She is currently a director of 8 key Binance companies and was a signatory for dozens of bank accounts belonging to 27 entities registered in 13 countries, overseeing the company’s treasury and a spiderweb of companies that has processed $148 billion in deposits and withdrawals since 2019, according to the SEC. The bank accounts, held at Signature Bank and Silvergate Bank—both of which collapsed in March—were all closed or had balances of zero by May this year.

One sources added. “She was the one needed when it came to fund transfers or fund confirmation letters, whatever—because she is the authorized person for all bank accounts."

“She was the real CFO,” the source said.

According to Chen LinkedIn, she earned an undergraduate degree in accounting from the Shanghai University of Finance and Economics and an MBA from the National University of Singapore.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Binance

Related News
Binance South Africa to require information on senders and recipients for local compliance Binance South Africa to require information on senders and recipients for local compliance
Binance tax evasion trial in Nigeria adjourned until April 30 on 'substituted service' argument Binance tax evasion trial in Nigeria adjourned until April 30 on 'substituted service' argument
Binance suspends employee for allegedly profiting off of insider information Binance suspends employee for allegedly profiting off of insider information
Binance Records $3.97B Weekly Inflows Binance Records $3.97B Weekly Inflows
Binance inflows for 2024 are almost 40% higher than the next 10 exchanges combined Binance inflows for 2024 are almost 40% higher than the next 10 exchanges combined
Latest News More More
5 Days Ago Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
July 7 TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
July 4 Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open