Three unnamed sources say Binance, the largest cryptocurrency exchange in the world, commingled billions worth of customer funds in 2020 and 2021, according to a new report from Reuters.

The article cites interviews with three anonymous sources, one of whom claims to have direct knowledge of the Binance group’s finances, according to Reuters. The insider said Binance used now-defunct Silvergate Bank to commingle billions of dollars on a nearly daily basis.

This isn’t the first time Reuters has published incriminating reports about Binance. In the past, it has claimed the company engaged in money laundering and unusual money transfers. And like the last reports, Binance has been vehement in its denials of the claims.

Patrick Hillman, Binance’s chief communications officer, said on Twitter that the details in today’s report are false.

“We’ve been very public about where the company had regulatory shortcomings in the past,” he wrote, “there’s no reason for a respected news outlet like Reuters to continue making stuff up.”

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