A look at the mounting US pressure on Binance: the DOJ's money laundering division leading its criminal investigation, CZ hiring Latham & Watkins, and more
The scrutiny on Binance, the giant cryptocurrency exchange, has sent new tremors through a market that is still bruised by the implosion of FTX.
New York Times
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Discussion
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@bitfinexed
@bitfinexed
on x
Oh no, more bad news! Quick! We need to manipulate the market upwards to get everyone to think they're getting richer as we're stealing all of their money. https://www.nytimes.com/...
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@flitteronfraud
Emily Flitter
on x
The world's largest crypto exchange, @binance, & its founder, @cz_binance, are at the center of a money laundering investigation by US authorities. Its outcome will determine Binance's future. W/@yaffebellany & @MattGoldstein26 https://www.nytimes.com/...
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@smdiehl
Stephen Diehl
on x
> “It's the biggest exchange for crypto, and if it gets clamped down on, that's going to be a big deal” https://www.nytimes.com/...
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@investvoyager
@investvoyager
on x
1/ Today we received a letter from https://binance.us/ terminating the asset purchase agreement. While this development is disappointing, our chapter 11 plan allows for direct distribution of cash and crypto to customers (a “toggle option") via the Voyager platform.
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@binanceus
@binanceus
on x
https://binance.us/ has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager. While our hope throughout this process was to help Voyager's customers access their crypto in kind, the hostile and uncertain regulatory climate... ht…
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@investvoyager
@investvoyager
on x
4/ Under the terms of the asset purchase agreement, https://binance.us/ is required to destroy all customer information that it has received and permanently close and remove any accounts established with Voyager customer information.
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@investvoyager
@investvoyager
on x
2/ Consistent with the plan, we will now move swiftly to return value to customers via direct distributions. We will provide more information on next steps and any actions customers need to take in the coming days.
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@scottmelker
@scottmelker
on x
Good job, Gary. https://twitter.com/...
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@bitfinexed
@bitfinexed
on x
Voyager suckers spared having all of their assets and personal information transferred to known criminals knowingly laundering money for terrorist organizations. https://www.reuters.com/...
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@hosseeb
Haseeb
on x
I'm detecting a theme around CZ's approach to acquisitions... https://twitter.com/...
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@newsasset
@newsasset
on x
Looks like voyager customers (that includes myself) are going to take a haircut but get (some) of their crypto back. Not sure if it's in cash or crypto but basically they're liquidating after all this time and paying lawyers and consultants and former staff. 🤢🤮. https://twitter.c…
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@edzitron
Ed Zitron
on x
Yeah they got asked to show exactly one bank statement https://twitter.com/...
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@hsakatrades
@hsakatrades
on x
Inb4 Binance pulling out of the Voyager deal is part of the conditions of an imminent settlement with the CFTC. CFTC commissioner today: There is not an immediate path forward. That doesn't mean there couldn't be one and hopefully there will be one. https://www.cnbc.com/... https…
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@stephanie_murr
Stephanie Murray
on x
👀 https://binance.us/ nukes Voyager bankruptcy deal, pointing to a “hostile and uncertain regulatory climate in the United States” as the reason. The court-approved deal had faced significant government scrutiny. https://twitter.com/...
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@tier10k
@tier10k
on x
https://twitter.com/... https://twitter.com/...
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@tier10k
@tier10k
on x
Pour one out for Voyager creditors FTX gonna save us🙏 FTX implodes 💀 Binance gonna save us 🥳 US blocks sale 😳 Court allows sale to go through 😩🙏 Binance pulls out 🪦 https://twitter.com/...