Given that Binance has no CFO, it’s entirely plausible that no one really knows the true state of the exchange’s finances — who owns what and what is owed to whom.
, reported earlier that a methamphetamine and cocaine gang operating across the US, Mexico, Europe and Australia also used Binance to launder tens of millions in drug proceeds and an ongoing investigation is underway by the US Drug Enforcement Administration.
Regardless of whether CZ and top brass at Binance cooperate or not, it’s hard to see how law enforcement officials globally would allow Binance to continue operations if indeed it is found to have facilitated money laundering and the evasion of sanctions. There’ll likely be a process established to prove that no criminal activity was perpetrated by traders with cryptocurrencies on Binance and an eventual withdrawal mechanism could be instituted.
In such a situation, where the top brass of Binance disappears, it’s not immediately clear that the exchange may stop operating either.
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