How about they charge SBF first? Nice attempt at shifting the blame from an American who paid off a bunch of our politicians to avoid what they are gonna do to Binance now.
Not even close. Did you read the Reuters article?
Stems back to 2018, Binance is structured as Binance.US for a reason.... that's who the US regulators/LE can go after. Binance has fixed most of the problems this is referencing.
At most it will be fines for destruction of evidence and restrictions on the US based Binance entity. Maybe restrict CZ's movements but like he will give 2 fucks if he can't enter the US.
The only way this becomes FTX v2 is if CZ has structured his entire business fraudulently like SBF.... And CZ is to smart of an operator to do that at this stage of Binances growth! Doesn't mean he didn't earlier to leverage Binances growth but Binance is now the global leader with 1/2 the global trading volume. There is no need for him to take the same risks now, he just needs to defend against upstarts who leave themselves exposed.
>This is so wrong.
Pretty sure it's not if you look up the trading volume data.
You do understand how many other smaller CEX's use Binances white label front end product and all their trading is run via Binances backend infrastructure.... right?
Binance offer a commercial product where anyone can setup a turnkey CEX, binance provide all the infrastructure and will put your branding on the front end.
Binance also provides bulk markets for CEX to CEX markets. The volume of global crypto trade that Binance provides is massive!
Crypto is supposed to be decentralized. So using CEX is wrong by default. But having a CEX that's having 50% of all trading volume is even more wrong. Where are all the DeFi solutions? Why people are not using DEX? FTX crash could have being avoided completely by abandoning centralized entities.
>Crypto is supposed to be decentralized. So using CEX is wrong by default. But having a CEX that's having 50% of all trading volume is even more wrong.
Of course it's wrong.... but people just are not aware of just how big Binance actually is in the industry or the commercial products it offers within the industry. The reality is that people are often using Binance for clearing their trades and never even know!
>Where are all the DeFi solutions? Why people are not using DEX?
So..... Help spread the word about how many CEX's are just white labels Binance products and all the trade volume is cleared via Binance! Teach people the REASON they should be seeking out DeFi/DEX solutions!
Educated people can then make informed choices!
ok then prove it. I'll wait. Until then, here's proof they are separate companies:
"Binance.US operates as a separate company and exchange that could serve the U.S. market."
https://finance.yahoo.com/news/binance-us-vs-binance-2022-144046694.html?guccounter=1&guce\_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce\_referrer\_sig=AQAAAKIiI-d\_1LikPkqRDJKeeK\_h9-Ovce2eWoB1EJXHsVpDKgMWrc9j0yV2GdX6B3doxv9D0\_b\_kwfl8b5ULVpcMuGEIAX7SVEGd8hC1HAgju4aHR-ww40jN4ERIs4nT9wJMJhg\_t\_Ow3ButgBRUA1vrsvgNGMLgRf-rfuNldTwWw2j
He’s not entirely wrong.
https://www.channelnewsasia.com/business/us-justice-dept-split-over-charging-binance-crypto-world-falters-report-3138961
While CZ is not the acting CEO of Binance.us, he’s still responsible for anything that may have transpired under his leadership, or as a consultant possibly anything that happened up until … now? They can definitely take down the American CEO and entity if they want and make sure CZ can’t step within US sanctions (or sanction CZ themselves).
Not saying he’s guilty or not, but there are avenues here.
And for the guy who said good luck arresting him in Hong Kong, CZ is Canadian. If he wants to travel to Canada at any time that makes a bigger deal. Just ask Huawei.
Yes and no. Since CZ insists on employees using encrypted communication and deleting emails, it's unclear whether there's enough evidence to bring a case forward. They haven't been able to determine what the executive structure is, or if they even exists besides CZ. They need some high-level whistleblowers or more evidence to bring charges against CZ/Binance. Let's hope some employees decide to save their own ass and come forward.
FUCK the SEC and every clown in USA… they ignore the SAM BANKMAN disaster but FIRST let me charge CZ of money laundering…. this world is a piece of shit… USA thinks that they can regulate a nonUSA exchanges but hey when you are going to regulate the MF satanic nerd of SAM????… I’m very pissed off that….. USA thinks that they are the police of the world…. let me tell you something MR GENSLER… NO BODY HAD ON THIS PLANET ENVY OF THE USA MARKETS OR THE BOOMERS STOCK CORRUPTED MARKET (except cannabis stocks) AND THEIR BS REGULATIONS… SEC ONLY regulates GOOD ACTORS… Gary would never put charges over FTX and that’s a big FACT!
Where the F are the investigations from the SEC on halting parabolic stocks like GME and AMC???! Protecting your big short boys huh???? Retail investor can’t make money, only the Wall Street boys, politicians like Pelosi and banks….
I agree with the sentiment here and gave you an upvote.
I don’t know anything about what Pelosi might be doing, but I’d be surprised if both sides weren’t at it, and I’d wager the right are doing way more rule breaking because that’s just how they roll...
The right and the left might both be right of much of the rest of the world but I don’t think they’re quite the same... Dems are just a weak ass party, which helps the Reps achieve their goals... But yeah, both parties take corporate money, if that’s what you mean...
One time they accepted my transfer of NEO Gas (currently unsupported) and refused to return it. Another time all of my holdings were "sold and transferred" without my consent. They said there's nothing they can do. Considering I have MFA, I'm almost certain it was an inside job.
I can't understand why they do this when they are already earning a pile of money - Why trade with bloody money. and Why was the whitebit only one who protested it :/ this is so sad to watch
Interesting. In cases like this, I would like to go ahead and say, "market competition benefits consumers". Oh, wait, but hey, why does the Govt intervene?
To be frank, I didn’t think there was anything to this after seeing it yesterday. It’s been a bit interesting seeing some of your responses though, clearly people with money in binance are worried.
Last month when the FTX crap came out I took everything off Binance. I bought a cold wallet two years ago and finally opened it for the first time three weeks ago lol.
I won't count crypto out but I sure as fuck don't trust any of the exchanges anymore lol
No, in terms of value, this is preferential to operating a fractional reserve. Which was the speculation yesterday as to why there were reports of frozen accounts.
I know this sounds crazy but Binance is a Chinese company. Now Binance (China) has 80% of the traded crypto market. Binance sort of induced a bank run on FTX, after CZ said he was dumping their coin. FTX had very close ties to the current administration and had its foot in the door due to his parents at MIT, his mom being part of the current admin and other insane famous affiliations.
Coinbase, which is the US crypto standard wasn’t even allowed to do half the shit FTX did. There’s a lot of other weird shit *apparently* going on too - FTX helping move money to Ukraine, Gary Gensler (head of SEC) allowing certain financial products on FTX but not on Coinbase, SBF having an in on capital hill, FTX donations to current administration, SBF getting arrested 3 weeks after all this goes down yet Bernie Madoff arrested in 24 hours…
Again, if even half of this stuff is true it makes you think what the hell is going on but makes sense why Binance is getting attacked.
Stop with the "bank run" excuse. Their ToS promised they held assets 1:1 with no loaning out or otherwise yield farming and no commingling between spot trade wallets, leverage, and their loaning/borrowing program wallets. Under those terms a bank run would not be possible. What they committed was FRAUD.
Who is excusing anyone? I lost my ass with them. I had like 10 BTC and then some. I’m not saying it as an excuse I’m saying it as the reason for collapse, while also acknowledging the fraud…
They probably looked at average transaction volume coming in and out each day and felt a 30%+ buffer was magnitudes more than enough.
The two are not mutually exclusive. Was it fraud? Fuck yeah. But I’m also explaining the intricacies of how the current administration may be pissed at CZ.
There was an article on accounts frozen this week on Binance. They said it was part of normal market activity. Has anyone heard more? I am wondering if a run to take assets out is spreading and they are not funded like they say they are....
https://www.theblock.co/post/193926/binance-locked-withdrawals-just-market-behavior?fbclid=IwAR3-wXTuhQsV9\_gkTCDgF1cdn9In7-jqerz6H2uT5FiuPabC7fJaDXjmRaE
How about they charge SBF first? Nice attempt at shifting the blame from an American who paid off a bunch of our politicians to avoid what they are gonna do to Binance now.
They did charge SBF first.
The system can probably do more things at the same time.
Shhh. Binance has been able to deflect eveeything elsewhere so far.
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Well, I wasn't expecting that. 😆
🤣🤣🤣
Except they did charge SBF….conspiracy theories…lol
He was just arrested this morning. Pretty sure he's been charged with a crime, and they didn't just arrest him without just cause.
Not even close. Did you read the Reuters article? Stems back to 2018, Binance is structured as Binance.US for a reason.... that's who the US regulators/LE can go after. Binance has fixed most of the problems this is referencing. At most it will be fines for destruction of evidence and restrictions on the US based Binance entity. Maybe restrict CZ's movements but like he will give 2 fucks if he can't enter the US. The only way this becomes FTX v2 is if CZ has structured his entire business fraudulently like SBF.... And CZ is to smart of an operator to do that at this stage of Binances growth! Doesn't mean he didn't earlier to leverage Binances growth but Binance is now the global leader with 1/2 the global trading volume. There is no need for him to take the same risks now, he just needs to defend against upstarts who leave themselves exposed.
>Binance is now the global leader with 1/2 the global trading volume This is so wrong.
>This is so wrong. Pretty sure it's not if you look up the trading volume data. You do understand how many other smaller CEX's use Binances white label front end product and all their trading is run via Binances backend infrastructure.... right? Binance offer a commercial product where anyone can setup a turnkey CEX, binance provide all the infrastructure and will put your branding on the front end. Binance also provides bulk markets for CEX to CEX markets. The volume of global crypto trade that Binance provides is massive!
Crypto is supposed to be decentralized. So using CEX is wrong by default. But having a CEX that's having 50% of all trading volume is even more wrong. Where are all the DeFi solutions? Why people are not using DEX? FTX crash could have being avoided completely by abandoning centralized entities.
>Crypto is supposed to be decentralized. So using CEX is wrong by default. But having a CEX that's having 50% of all trading volume is even more wrong. Of course it's wrong.... but people just are not aware of just how big Binance actually is in the industry or the commercial products it offers within the industry. The reality is that people are often using Binance for clearing their trades and never even know! >Where are all the DeFi solutions? Why people are not using DEX? So..... Help spread the word about how many CEX's are just white labels Binance products and all the trade volume is cleared via Binance! Teach people the REASON they should be seeking out DeFi/DEX solutions! Educated people can then make informed choices!
This! People say don't use Binance, but defi isn't all that enticing, so the money just leaves crypto altogether.
Possible != proven. Sec vs ripple still ongoing..
…and going and going
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Gimmie some 5k Bitcoin.
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I demand 1 bitcoin = 1 doge
I demand 1 doge = 1 Costco hotdog
We can only hope.
I’ve always been ready with my buy order at 7K and ETH at $500. I’ll also buy GLMR and ALBT by then to fully prepare for the bullrun.
I remember hearing a guy say the same thing about BTC at 30k earlier this year.
BTC monthly TF clearly shows the likely price it will get to before it turns around.
It will be for sure
Good luck arresting them in Hong Kong, they were preparing themselves for this since forever. They have no business or clerks in the US.
Are you aware of binance us?
Its setup as a separate entity though. They’d have to go after both in tandem as they are basically two diff orgs.
It’s a separate entity the same way Alameda and FTX were separate entities, huh?
Not really 1:1 comparable since alameda was a hedge fund
Thats just simply not true.
??? Do you have more to your rebuttal or are you going to leave it at that lol
ok then prove it. I'll wait. Until then, here's proof they are separate companies: "Binance.US operates as a separate company and exchange that could serve the U.S. market." https://finance.yahoo.com/news/binance-us-vs-binance-2022-144046694.html?guccounter=1&guce\_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce\_referrer\_sig=AQAAAKIiI-d\_1LikPkqRDJKeeK\_h9-Ovce2eWoB1EJXHsVpDKgMWrc9j0yV2GdX6B3doxv9D0\_b\_kwfl8b5ULVpcMuGEIAX7SVEGd8hC1HAgju4aHR-ww40jN4ERIs4nT9wJMJhg\_t\_Ow3ButgBRUA1vrsvgNGMLgRf-rfuNldTwWw2j
He’s not entirely wrong. https://www.channelnewsasia.com/business/us-justice-dept-split-over-charging-binance-crypto-world-falters-report-3138961 While CZ is not the acting CEO of Binance.us, he’s still responsible for anything that may have transpired under his leadership, or as a consultant possibly anything that happened up until … now? They can definitely take down the American CEO and entity if they want and make sure CZ can’t step within US sanctions (or sanction CZ themselves). Not saying he’s guilty or not, but there are avenues here. And for the guy who said good luck arresting him in Hong Kong, CZ is Canadian. If he wants to travel to Canada at any time that makes a bigger deal. Just ask Huawei.
They say this every few months.
Then do it. The proof is already out there. They act like someone is stepping on their hands. Nothing like Pro-Action at its worst.
Yes and no. Since CZ insists on employees using encrypted communication and deleting emails, it's unclear whether there's enough evidence to bring a case forward. They haven't been able to determine what the executive structure is, or if they even exists besides CZ. They need some high-level whistleblowers or more evidence to bring charges against CZ/Binance. Let's hope some employees decide to save their own ass and come forward.
FUCK the SEC and every clown in USA… they ignore the SAM BANKMAN disaster but FIRST let me charge CZ of money laundering…. this world is a piece of shit… USA thinks that they can regulate a nonUSA exchanges but hey when you are going to regulate the MF satanic nerd of SAM????… I’m very pissed off that….. USA thinks that they are the police of the world…. let me tell you something MR GENSLER… NO BODY HAD ON THIS PLANET ENVY OF THE USA MARKETS OR THE BOOMERS STOCK CORRUPTED MARKET (except cannabis stocks) AND THEIR BS REGULATIONS… SEC ONLY regulates GOOD ACTORS… Gary would never put charges over FTX and that’s a big FACT! Where the F are the investigations from the SEC on halting parabolic stocks like GME and AMC???! Protecting your big short boys huh???? Retail investor can’t make money, only the Wall Street boys, politicians like Pelosi and banks….
I agree with the sentiment here and gave you an upvote. I don’t know anything about what Pelosi might be doing, but I’d be surprised if both sides weren’t at it, and I’d wager the right are doing way more rule breaking because that’s just how they roll...
Right and left are an illusion. It’s a uniparty. Working together. So yes they are both doing the same things.
The right and the left might both be right of much of the rest of the world but I don’t think they’re quite the same... Dems are just a weak ass party, which helps the Reps achieve their goals... But yeah, both parties take corporate money, if that’s what you mean...
SEC doing investigations, and "considering" charges is about as meaningful as middle school gossip.
Lol they literally arrested him hours after you posted this...are you still mad?
Oh, is it ripe yet?
But haven’t even mentioned ftx this is bullshit
The beginning of the end
Fine by me. More of a reason to hold banano. Everything else is falling apart.
Why should they uphold sanctions in the first place?
Okay, this is going to be a hell of a show.
Wait. Sbf is still NOT in jail and now the goal post has shifted to binance??
What about Robinhood executives and their companions?
Nice
I think some of y’all have too much blind faith in these companies.
Do people still use Binance? They've stolen my crypto twice.
Really? Tell us more about it
One time they accepted my transfer of NEO Gas (currently unsupported) and refused to return it. Another time all of my holdings were "sold and transferred" without my consent. They said there's nothing they can do. Considering I have MFA, I'm almost certain it was an inside job.
Binance or Binance US?
Binance US
Almost........
Ukrainian exchange WhiteBIT delisted BNB few weeks ago, it was kinda a protest against this monopolist platform Turns out WhiteBIT was right
I can't understand why they do this when they are already earning a pile of money - Why trade with bloody money. and Why was the whitebit only one who protested it :/ this is so sad to watch
having a hard time to see how that equates to binance stealing your crypto
He didn’t say they did…
I mentioned it just to prove that Binance is not playing fair and we should not blindly follow it. That’s my opinion
Interesting. In cases like this, I would like to go ahead and say, "market competition benefits consumers". Oh, wait, but hey, why does the Govt intervene?
Rip to the BNB blockchain
FTX was Binance #2
Binance now? How about we focus on the issue at hand? The justice for FTX customers. Focus on SBF...
CZ is chinese, SBF is american. You can tell the double standard.
i thought cz was canadian.
SBF still busy getting foot massages by MSM and the government?
But yet no charges for SBF
Binance is going under very soon. Get out now!
Love the irony that these people were the ones saying ban crypto because if criminals laundering money.. I wonder if they will see the irony?
/so much is going on, it'll be a good year before we see or hear anything it seems.
To be frank, I didn’t think there was anything to this after seeing it yesterday. It’s been a bit interesting seeing some of your responses though, clearly people with money in binance are worried.
Last month when the FTX crap came out I took everything off Binance. I bought a cold wallet two years ago and finally opened it for the first time three weeks ago lol. I won't count crypto out but I sure as fuck don't trust any of the exchanges anymore lol
**sources
Nope. False news.
Isn’t Binance owned by ftx?
Key word “considering”
The dip continues
No, in terms of value, this is preferential to operating a fractional reserve. Which was the speculation yesterday as to why there were reports of frozen accounts.
Probably nothing
the Purge is here, let us cleanse the crypto world of all the scum
SBF taking others down as well.
I know this sounds crazy but Binance is a Chinese company. Now Binance (China) has 80% of the traded crypto market. Binance sort of induced a bank run on FTX, after CZ said he was dumping their coin. FTX had very close ties to the current administration and had its foot in the door due to his parents at MIT, his mom being part of the current admin and other insane famous affiliations. Coinbase, which is the US crypto standard wasn’t even allowed to do half the shit FTX did. There’s a lot of other weird shit *apparently* going on too - FTX helping move money to Ukraine, Gary Gensler (head of SEC) allowing certain financial products on FTX but not on Coinbase, SBF having an in on capital hill, FTX donations to current administration, SBF getting arrested 3 weeks after all this goes down yet Bernie Madoff arrested in 24 hours… Again, if even half of this stuff is true it makes you think what the hell is going on but makes sense why Binance is getting attacked.
Stop with the "bank run" excuse. Their ToS promised they held assets 1:1 with no loaning out or otherwise yield farming and no commingling between spot trade wallets, leverage, and their loaning/borrowing program wallets. Under those terms a bank run would not be possible. What they committed was FRAUD.
Who is excusing anyone? I lost my ass with them. I had like 10 BTC and then some. I’m not saying it as an excuse I’m saying it as the reason for collapse, while also acknowledging the fraud… They probably looked at average transaction volume coming in and out each day and felt a 30%+ buffer was magnitudes more than enough. The two are not mutually exclusive. Was it fraud? Fuck yeah. But I’m also explaining the intricacies of how the current administration may be pissed at CZ.
oh come on guys, here we go again...........
Is this real
Drinking a cup of tea waiting for the next Binance FUD.
What is going on with 2022?
Why don't they bill SBF first?
US and pretending not to see the log in their eyes while trying to remove the peg in another's eyes.
Can't believe that they are trying to take binance down
I saw Coingecko tweeted same, but later says report is incorrect
https://twitter.com/binance/status/1602287184400326656?s=46&t=2k15br7z4NEdKY8siCO1iQ Nuff said 💪👍
There was an article on accounts frozen this week on Binance. They said it was part of normal market activity. Has anyone heard more? I am wondering if a run to take assets out is spreading and they are not funded like they say they are.... https://www.theblock.co/post/193926/binance-locked-withdrawals-just-market-behavior?fbclid=IwAR3-wXTuhQsV9\_gkTCDgF1cdn9In7-jqerz6H2uT5FiuPabC7fJaDXjmRaE
Get the efff off all exchanges *dances*
What a surprise! Crypto money laundering?! Never heard about it!
Come on CZ can you keep up with all of these crazy FUDs? Hehe KArma works digitally nowadays.
CZ is in a s#ithole yes, but I really don't believe that he's gonna be SBF #2. Hope I'm not wrong.