Binance Answers Elizabeth Warren Without Addressing Financials

Crypto exchange Binance responded to harsh criticism and demands for answers about its business from US senators including Elizabeth Warren.

In a 14-page letter seen by Bloomberg, Chief Strategy Officer Patrick Hillmann described Binance’s work to build out its compliance program and team — but he also provided scant details on the company’s finances. The response failed to provide a lot of the information lawmakers asked for in their March 1 letter that called Binance a “hotbed” of illegal activity. Hillmann’s response said the company prioritizes regulatory compliance, citing “misconceptions” about the company.

A slew of agencies including the ...