Technology

59211 readers

2705 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

269

Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department (www.businessinsider.com)

submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

50 comments fedilink hide all child comments

Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::"Can barely buy an AK-47 with 600 bucks," a Binance compliance staffer told his boss in 2019, per regulators.

you are viewing a single comment's thread
view the rest of the comments

[–] Salamendacious@lemmy.world 25 points 11 months ago* (last edited 11 months ago) (15 children)

Changpeng "CZ" Zhao, the cofounder of Binance and a central figure in the crypto world, is also stepping down as CEO under the settlement.

...

Zhao is pleading guilty to breaking anti money-laundering law, per the justice department. Zhao will personally pay $50 million in fines, and faces up to 18 months in prison,

Man I feel like he's getting off light honestly and I saw there are more charges from the SEC but how is he the only one facing time?

[–] Mercival@lemm.ee 15 points 11 months ago (13 children)

I love how just a year ago, he was the one to call out FTX.

People in glass houses shouldn't throw stones and all that...

The whole industry seems like a criminal plot at this point.

[–] sv1sjp@lemmy.world 15 points 11 months ago (9 children)

Binance has no problem with its clients. FTX literally invested the money of the people in high risk assets, and they ended up bankrupted.

In the day of the Binance's trial, people withdraw more than billion of dollars worth Cryptos. Binance didn't end up bankrupt as they are holding A LOT.

[–] JamesNZ@lemmy.world 2 points 11 months ago (1 children)

We only know ftx was stealing due to a run on the exchange. Binance could also easily be in the same boat, we just don't know, as they have not been tested for there liquidity. Also it turns out ftx pretty much had the money, but it just was not liquid.

[–] sv1sjp@lemmy.world 2 points 11 months ago* (last edited 11 months ago)

Βinance has shared publicly many of its wallets in many Blockchains.

load more comments (7 replies)

load more comments (10 replies)

load more comments (11 replies)