Odaily Planet Daily News Crypto KOL Adam Cochran expressed concerns about Binance’s use of TUSD as collateral. Cochran believes that TUSD is not an ideal collateral due to its low transaction volume and limited use. In addition, Cochran pointed out that TUSD is a project controlled by TRON (TRX) founder Justin Sun, who he believes is a controversial figure;
In addition, Cochran emphasized that Binance.US has been unwilling to comply with U.S. court regulations on providing asset custody certificates;
Cochran also raised questions about Binance’s involvement in small markets that carry geopolitical risks. He cited transfers to the Russian market and the existence of accounts associated with SDN-tagged individuals. Additionally, he mentioned the exchange’s alleged resistance to an audit by a U.S. court;
Cochran said the outstanding risks did not appear to bring significant benefits to Binance’s business.