Twitter leaks correspondence between two Binance employees that compromises cryptocurrency exchange

on June 7, Adam Cochran, a cryptocurrency analyst and partner at Cinneamhain Ventures, published compromising correspondence between Samuel Lim, former head of compliance at Binance, and Alvin Kahn, allegedly the former head of business development. The correspondence concerns share bonuses, where Lim talks about the risks of owning a BNB token.

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Evidence from the SEC case against Binance including internal chat logs, first between Sam Lin (former compliance lead at Binance) and Alivn (formerly head of BD)

First is their convo about equity bonuses where Sam talks about risks of holding BNB pic.twitter.com/96IfwJEUOT

— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023

The first screenshot of the conversation, which Cochran posted in a 15-tweet thread, contained Alvin’s words that BNB was «headed for zero.» Lim’s response went viral in just a few minutes: «We're operating like a fucking unlicensed securities exchange in the US, bro.» Lim recommended that Alvin transfer his bonus from BNB to USDT, as it would be the smartest thing to do: «Anyone taking BNB right now is damn brave.»

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Talks about how the compliance side is a sinking ship like titanic. pic.twitter.com/hCFw9VgbPB

— Adam Cochran (adamscochran.eth) (@adamscochran) June 7, 2023

In a private conversation, both employees of the world’s largest crypto exchange often referred to Binance as a «sinking ship». It is alleged that Binance was trying to attract an American lawyer as the exchange’s chief operating officer. However, Alvin claimed that the risk rewards were «not balanced» and he personally would not be comfortable signing an OFAC (U.S. Office of Foreign Assets Control) compliance agreement if he were the COO.

In addition, Alvin and Lim discussed that Binance CEO Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao knew why the company’s employees were reluctant to sign OFAC reports. «We can’t be clean. I haven’t seen anything to prove that we are,» Lim concluded.

Meanwhile, Twitter users and crypto enthusiasts saw nothing wrong with the published screenshots. Most of them believe that this is just a subjective dialog, where the situation may be presented worse than it really is.

As a reminder, the SEC recently accused Binance of transferring $ 12 billion of client crypto assets to the accounts of the exchange’s chairman Changpeng Zhao. The basis for the accusations was an analysis of movements on the accounts of Binance, Binance. US, and Zhao’s own accounts in the American banks Silvergate and Signature.