Binance Custody Ceffu Clears Air On Commingling Of Customer Crypto Assets
The move comes as Reuters once again accused the world’s largest crypto exchange of commingling user funds in accounts held at Silvergate Bank. However, Binance executives completely denied the report claiming the story to be false and weak. Meanwhile, Binance CEO “CZ” completely ignored the report and kept him busy with Bitcoin Pizza Day. Also Read: Elon Musk Advises “Not To Bet The Farm On Crypto And Dogecoin” Ceffu Never Mix Customer Funds in Cold Wallets Binance’s institutional custody solution Ceffu took to Twitter to clarify its institutional clients that the custody platform operates on segregated account and wallet systems. Thus, clients’ assets deposited in cold wallets are never commingled. Ceffu goes on to explain how its off-exchange settlement solution Mirror is completely secure and safe. After i nstitutional clients lock their digital assets in Ceffu cold wallet, the wallet credits the amount of the digital assets to their Binance ex...