Cryptocurrency 7 minutes ago (Feb 13, 2023 06:40PM ET)
New York State’s Department of Financial Services, or NYDFS, reportedly received a complaint from stablecoin issuer Circle regarding Binance’s reserves prior to its crackdown on BUSD.
According to a Feb. 13 Bloomberg report, Circle alerted NYDFS in an autumn 2022 complaint that Binance’s reserves were insufficient to support its tokens, seemingly including stablecoin Binance USD (BUSD). A person familiar with the matter reportedly said Circle’s team had uncovered the information through blockchain data.
