Binance CEO Richard Teng has mentioned that the exchange maintains close communication with its clients regarding the recent bankruptcy of FlowBank, the institution where the exchange's clients held their trading collateral. Despite the bankruptcy of FlowBank, as announced by the Swiss regulator on June 13, Binance appears to be unaffected by the situation. Richard Teng reassured in an interview with Bloomberg that the exchange is actively working with its customers in light of the bankruptcy, emphasizing that only a minimal amount of assets were stored at FlowBank. FlowBank, established in 2020, established a cooperative relationship with crypto businesses and collaborated with Binance to enable clients to keep their trading collateral at the bank rather than the crypto platform. Additionally, FlowBank had connections with the TrueUSD stablecoin and CoinShares crypto asset manager. TrueUSD disclosed in a recent post that it closed its bank account at FlowBank in April and has no exposure to the bankrupt institution. CoinShares, on the other hand, mentioned in a blog post that its exposure to FlowBank as a customer is insignificant, with deposits amounting to approximately £100,000. CoinShares is also a significant investor in FlowBank, holding nearly 30% of the bank's shares as of March 2022. Reports from May 2023 indicated that Binance was contemplating allowing institutional clients to store their trading collateral at a bank for risk mitigation, although it is uncertain if FlowBank was selected for this purpose.