Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Binance processed $345.8 million worth of bitcoin transactions for crypto exchange Bitzlato, Reuters reported Tuesday, citing data by blockchain research firm Chainalysis.
The world’s largest crypto exchange by trade volume, Binance, according to the story, did 205,000 transactions with Bitzlato between May 2018 and its closure last week after the U.S. Department of Justice (DOJ) charged it and its founder with money laundering.
About $90 million worth of bitcoin transfers were carried out after August 2021, according to the report, which was when Binance said it would start demanding stricter background checks from clients in order to fight financial crime.
Binance last week was named as one of Bitzlato’s top 3 counterparties by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN).
Neither Binance nor Chainalsysis immediately responded to CoinDesk’s request for comment.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.