Binance is a 'hotbed of illegal financial activity' and is hiding basic info from customers, US senators say in scathing letter to the world's biggest crypto exchange

• US senators accused the world's largest crypto exchange of being "a hotbed of illegal financial activity."
• In a scathing letter to Binance, lawmakers requested copies of the company's balance sheets since 2017.
• A Binance spokesperson said the exchange will help lawmakers understand why it remains "the most trusted platform with users across the globe."

A bipartisan group of US senators is pressing Binance for more details on the crypto exchange's business practices, a company spokesperson confirmed to Insider.