Boris Johnson’s brother steps down as Binance adviser amid concerns over the change: Report

Jo Johnson, the brother of former United Kingdom prime minister Boris Johnson, has reportedly stepped down from his position as an adviser to Binance, in keeping with a report by the U.Ok.’s Telegraph. 

According to the report, Jo Johnson had been advising Binance throughout the change’s efforts to increase into the United Kingdom. The former British prime minister’s brother, additionally identified as Lord Johnson of Marylebone, reportedly took up a job on the U.Ok. advisory board of one among Binance’s subsidiaries, Bitfinity, in September. 

The Telegraph studies that he resigned final week after Binance’s proof of reserves raised pink flags for some accounting and monetary specialists amid a backdrop of damaging sentiment impacting the change, which triggered a financial institution run shortly thereafter. 

In an announcement issued on Monday, Lord Johnson shared: “ I stepped down from the advisory board final week and haven’t any position with it [or] any associated entity.”

Bitfinity, the firm Lord Johnson was reportedly advising, was created by Binance in March 2022 and is “a part of the Binance group,” as described in a submitting with U.S. regulators in April. The firm converts conventional currencies like the pound and the greenback into digital forex. 

Related: CryptoQuant verifies Binance’s reserves, studies no ‘FTX-like’ habits

On Dec. 16, Cointelegraph reported that Binance’s proof-of-reserves had been faraway from the Mazars Group’s web site. Mazars, appointed as an official auditor for Binance’s proof-of-reserve updates, has totally discontinued Mazars Veritas, a bit devoted to cryptocurrency change audits. 

According to a brand new press launch revealed on Dec. 19, cryptocurrency change Binance.US will purchase property of bankrupt crypto lender Voyager Digital for $1.022 billion. The deal is about to shut by April 18, 2023. Binance has agreed to make a $10-million deposit in good religion and can reimburse Voyager for sure bills as much as a most of $15 million.