Binance Enables Larger Traders to Store Assets at Crypto Banks Amid Regulatory Concerns
• Binance now allows larger traders to keep assets at independent crypto-friendly banks rather than on the exchange or with Binance's custodian
• This may reflect unease about Binance's regulatory issues in the US, including a $4.3B fine, and the FTX bankruptcy
• Traders cite preferring Swiss banks over holding assets with Binance
• Binance introduced this banking triparty arrangement, involving the exchange, customers, and a bank custodian, over a year ago
• Binance says this model helps maximize capital efficiency for institutional investors while managing risk