The Chinese cryptocurrency exchange site, Binance, is now arousing the suspicion of certain hedge funds, according to the “Financial Times”. Already in the crosshairs of financial market regulators, hedge funds are also beginning to doubt Binance.

Two Anglo-Saxon hedge funds no longer trade or have stopped certain activities they carried out via the Chinese cryptocurrency exchange platform. Hedge funds are no longer ready to take all the risks. Despite these threats, Binance is considering listing its US entity. Tyr Capital, a crypto specialist, said it had “significantly reduced its exposure” to Binance Group. ARK36, another hedge fund, is also limiting its activity on the platform after “what looks like an orchestrated regulatory attack”. In recent weeks, Binance has suffered several setbacks, from national supervisors and major financial institutions keen to protect investors… and their reputations. At the end of June, the site was banned in the UK, where several major banks are also preventing their customers from transacting through the platform. Deposits on Binance have also recently been suspended on SEPA, the main European payment network. The fintech has sparked alerts about breaches of market rules in Hong Kong where it started (even though it has no official headquarters today). Or in Japan and Germany, where Finma, the local regulator, sounded the alarm in the spring. In the United States, Binance is the subject of several official investigations. In France, on the other hand, the Financial Markets Authority remains silent on this case.