Swiss Regulator Shuts Down Binance’s Banking Partner

June 14, 2024 Tóth Balázs

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The Swiss regulatory authority has initiated the closure of crypto-friendly FlowBank and filed for bankruptcy proceedings against the institution due to insolvency risks. FlowBank, which served as a banking partner for Binance, also acted as a custodian for several large traders who preferred not to leave their funds on the platform.

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Swiss Regulator Shuts Down Binance’s Banking Partner

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