Binance Charity, the philanthropic arm of cryptocurrency exchange Binance, has been accused of being a scam. The accusations come from a blog post by an anonymous user, who claims that Binance Charity is using donations to fund personal projects rather than charitable causes.

The anonymous user alleges that Binance Charity is a “scam” and “nothing more than a personal piggy bank for CZ (Changpeng Zhao, the CEO of Binance) and his friends.” The user goes on to claim that Binance Charity has been used to fund personal projects, such as a luxury yacht and private jet, rather than charitable causes.

The accusations have been strenuously denied by Binance, with the company releasing a statement calling the claims “false and misleading.” Binance also points out that the blog post contains numerous factual errors, such as incorrectly claiming that Binance Charity is registered in Singapore (it is actually registered in Malta).

So, what is the truth? Is Binance Charity a legitimate philanthropic organisation or a scam?

It is difficult to say for sure, as there is no public information available on how Binance Charity spends its donations. However, given the fact that the organisation is registered as a charity in Malta, it seems unlikely that it is simply a front for personal gain.

It is also worth noting that Binance has a good reputation in the cryptocurrency community, and it seems unlikely that they would risk their reputation by running a scam charity.

Ultimately, only time will tell if Binance Charity is legitimate or not. However, given the lack of evidence to support the claims made by the anonymous blogger, it seems likely that these accusations are unfounded.