Binance, one of the largest cryptocurrency exchanges in the world, was considered by Weiss Ratings to be unsuitable for institutional investors.
Weiss Ratings posted the following message on their official Twitter page:
Binance seeks to help institutional investors with a new sub-account function. We do not think that institutional investors should use Binance – this is NOT an institutional exchange. It does not conduct an audit, does not have a specific location – it is a shadow company …
It is worth noting that the new function of the sub-account on Binance is also intended to support large individual investors in addition to institutions, allowing such investors to register up to 200 trading accounts under one profile. A new feature allows you to adjust the level of access and control for different accounts.
Weiss Ratings experts doubt that Binance has the necessary qualities to become an institutional level exchange that includes adequate security, integration with trading systems, capacity for large transactions, and regulatory compliance. The most important thing is that Binance does not appear in the available lists of institutional exchanges.
As a leading cryptocurrency exchange, Binance may well lose its position due to the opinion of experts from Weiss Ratings, since it is a well-known rating company recognized worldwide. Let's see how this information will affect the work of Binance in the near future.
And what do you think about this?
