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- Founder of Ukrainian Crypto Exchange Kuna has recently accused Binance of supporting Russia and working fine-tuned with them.
- Binance was one exchange that acted in contrast to others who banned Russian addresses to show their support to Ukraine.
- He can’t see the $10 million that Binance said it would send to the Ukrainian government, highlighted the Kuna Founder.
The Founder of the Ukrainian Crypto Exchange, Kuna, Michael Chobanian, has claimed that Binance has been working fine-tuned with the Russian government despite the global sanctions.
He expressed his views in a recent interview highlighting that the CEO Changpeng Zhao should decide what position he would take in the case of Russia. And that the problem with Binance is that they are still functioning on both sides, and they have shown cooperation with Russia even before the war. And as far as he knows, they are still cooperating with the Russian government.
This Kuna CEO is also the President of the Ukraine Blockchain Association. And he recently appeared before the US Senate Committee on Banking, Housing, and Urban Affairs, during a hearing on digital assets’ role in illicit financing. And he accused Binance of not taking an aggressive approach towards the Russian government.
Binance has earlier highlighted that it would not unilaterally ban the access of Russian users to the platform but would take actions against the ones on the sanctions list.
According to a Binance Spokeswoman, Jessica Jung, they prefer not to comment on fake accusations and focus on helping people.
Although Chobanian has not provided any solid evidence as to if Binance is fine-tuned with the Russian government or not.
But earlier in 2019, Binance CEO Zhao had noted that they are always looking for partners in every community, especially Russia.
Chobanian cited the $10 million that Russia said had donated to the Ukrainian government. He signified that he had not seen that $10 million, and nobody knows where they went.
The Kuna founder also cites that while taking actions against Russian authorities, one must make sure that they will not influence the opposition. He opposed the complete blocking of the crypto transactions of ordinary transactions of the Russian Federation. He noted that many citizens oppose the actions of Putin and rely on cryptocurrencies.
The Crypto industry is playing a primary role in the ongoing war between Russia and Ukraine, as it has helped ordinary citizens with their finances. Whereas, the crypto entities have shown mixed responses, with some banning the Russian users’ addresses while some like Kraken opposed the idea.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
