The United States independently operated sister company to the global leading Binance, Binance US has commenced operations in a recently introduced “investigations unit” with previous FBI agent BJ Kang being integrated as chair.
Kang is reputable for his dedicated 20 years of special service to the FBI where he handled high-profile investigations connected to security crimes. Reuters speculated him to be “the most feared man on Wall Street” after overseeing the perp walk of Bernard Lawrence Mandoff- an American financial crime scheme mastermind- in 2008 and Raj Rajaratnam the year after.
Binance US noted in an October publication that the protocol has continued to focus on solidifying its lawful, adherence and hazard operation. Within the last year, it has expanded its total workforce by over 145%, one-fifth of which is earmarked for those operations.
Kang’s recent commission as Binance US investigations division chair follows the Securities and Exchange Commission’s scrutiny over the exchange affiliates. The SEC had presumably sought information on two firms that are seemingly filling in the position as a liquidity provider for the platform and is analyzing how Binance US may have equipped its customers with the possible connections to the firms.
Binance, a distinct arm has had to counterattack indictments that the protocol had processed more than $2.35 billion value equivalent of trades from cyber crimes, illicit investments and drug operations from 2017 to 2021.