Discussion

• @cz_binance @cz_binance on x

  Thank you for your caring words. Even though there is no way for me to respond to or even see them all, I really appreciate it.🙏 I often joked about wanting to retire early. I guess I also often joked about “careful what you wish for” too.😂 What a transition. I am still... [image…

• @bitfinexed @bitfinexed on x

  @JohnReedStark I actually don't think he's a fight risk. Who is going to throw away an 18 month slap on the wrist to be international fugitive? He's going the Arthur Hayes way out.

• @molly0xfff Molly White on x

  Binance CEO Changpeng Zhao will be released on a $175 million bond, under the condition that he return for a sentencing hearing on February 23. It requires $15 million put into a trust account, and two guarantors who will pledge $250k and $100k. https://www.courtlistener.com/ ...…

• @molly0xfff Molly White on x

  The government has asked for a review of the judge's decision to deny a condition that would have required CZ to remain in the US pending sentencing. They are concerned he is a flight risk due to his wealth and few ties to the US. [image]

• @johnedeaton1 John E Deaton on x

  Do they really believe CZ would cut the deal, plead guilty, accept a 3 year prohibition from leading his company, but then run for the rest of his life?

• @nansen_ai @nansen_ai on x

  Here's our latest update on @binance, 12 hours after our previous one At the time of writing, withdrawals are continuing, and we're not seeing a mass exodus of funds Over the past hour on Ethereum, Binance has a $17M negative netfow (more leaving the exchange than what's... [imag…

• @cryptadamist @cryptadamist on x

  $60 million has flowed out of Binance in the last 25 minutes since I posted the screenshot above. assuming there is no acceleration¹ in the rate of outflow Binance will see ~$3.5bn in withdrawn in the next 24 hours. ¹ there is a lot of acceleration [image]

• @cryptadamist @cryptadamist on x

  nothing crazy yet but both #Binance and #Bitfinex are starting to see a rise in outflows... [image]

• @nansen_ai @nansen_ai on x

  Anyone can monitor @binance and other CEXs token holdings (proof of reserves) using Nansen Portfolio to see their daily Asset Worth (balance changes) This combines token outflows and price changes Yesterday for Binance this was a -$1.7B drop from the previous day [image]

• @ahcastor Amy Castor on x

  Binance is a corpse. It's business model was money laundering, and with two monitors (FinCEN and DOJ) watching its every move, this exchange has no future.

• r/wallstreetbets r on reddit

  Binance sees $956 million in outflows after Zhao steps down to settle US probe

• r/CryptoCurrency r on reddit

  Binance sees $956 million in outflows after Zhao steps down to settle US probe

• @carnage4life Dare Obasanjo on threads

  Binance's founder to plead guilty to money laundering charges and the company will pay over $4 billion in fines.  I've long said when it comes to crypto exchanges, the question isn't whether it's a criminal enterprise but instead how big are the crimes it's committing?

• @bitmexresearch @bitmexresearch on x

  CZ will be allowed to live in the UAE while he awaits sentencing. It was a “very close call” as to whether he would be allowed to go back to the UAE. CZ had to speak himself to convince the court. CZ must return to the USA 14 days prior to his sentencing. The transcript extract..…

• @jconorgrogan Conor on x

  I backed out Binance Corporate's crypto holdings from their Proof of Reserves: $6.35B total assets, $3.19B in stablecoins Doesn't include off-chain cash balances or funds held in wallets not in PoR Most likely able to pay full $4.3B DoJ fine with 0 crypto asset sales [image]

• @ki_young_ju Ki Young Ju on x

  I deeply respect @cz_binance as an entrepreneur. He basically has accelerated the global adoption by making people to buy #Bitcoin and crypto. Hope he can get some rest and gear up for a new leap. 4.

• @altcoindailyio @altcoindailyio on x

  CZ tried to save people from FTX & even helped bring SBF to justice. He is now sacrificing himself to save Binance crypto exchange and probably the whole bitcoin bull run. The man is a hero. [image]

• @0xjaypeg Jay on x

  this is the most modest, long winded way of saying “i told you so, haha”

• @evweiss1 Evan Weiss on x

  “We're going to stay here in the U.S. because we believe in economic freedom and that the U.S. democratic system will eventually get this right.” Thanks for being a true patriot @brian_armstrong 🇺🇸

• @arrington @arrington on x

  “Americans should not have to go to offshore unregulated exchanges to benefit from this technology. This industry should be built right here in America, in a compliant way, under U.S. law. We're going to stay here in the U.S. because we believe in economic freedom and that the...…

• @fehrsam Fred Ehrsam on x

  Building a trusted brand requires not cutting corners and a steady hand over 10+ years

• @heyibinance Yi He on x

  #Binance do not allege that Binance misappropriated any user funds, and do not allege that Binance engaged in any market manipulation. We would do better in compliance . Keep building.

• @mer__edith Meredith Whittaker on x

  This is circulating along with baseless speculation. So, quickly: Assuming this post is accurate (IDK), the messages were almost certainly obtained via subpoenaed devices or targeted device hacking like Pegasus. This DOES NOT imply a flaw in Signal.

• @joecarlasare Joe Carlasare on x

  Hearing from reliable sources that some of the damning evidence against CZ that DOJ has came from signal messages. Perhaps a cautionary tale for those using the app.

• @nansen_ai @nansen_ai on x

  Since our first update on @binance, it appears that users are withdrawing funds from the exchange based on market rumors Netflow has gone from -$10K to -$45M over the past hour (Ethereum only) https://twitter.com/... [image]

• @robustus Dan McArdle on x

  Binance, Kraken, Coinbase: never lost customer money. DoJ &/or SEC go after them. FTX: biggest fraud since Madoff & customers rekt. Politicians accept millions in donations from SBF, and the bureaucrats get cozy with him Gov just keepin us all safe right? ¯\_(ツ)_/¯

• @tree_of_alpha @tree_of_alpha on x

  I for one owe a tremendous amount of my wealth to you and your company. If it wasn't for trading on Binance, I would still probably be the broke boy looking for discounts on frozen salmon I was 4 years ago. I know it is also true for many, many other traders around me, in Tree...

• @chetansharma Chetan Sharma on x

  Forbes stays undefeated [image]

• @asvanevik Alex Svanevik on x

  SBF - loved by the establishment, hated by the crypto community CZ - hated by the establishment, loved by the crypto community

• @cryptocevo @cryptocevo on x

  So CZ is going to be a shitcoiner now? I'll see you in the arena [image]

• @tier10k @tier10k on x

  CZ out on $175m bond [image]

• @wassielawyer @wassielawyer on x

  No matter what your views are - gotta respect how @cz_binance handled this. SBF was Washingtons darling and managed to blow up at the expense of customers. CZ was under far more pressure and got out with a retirement, handover to chosen successor and customers funds SAFU.

• @altcoindailyio @altcoindailyio on x

  When my kids ask me who CZ Binance was: [video]

• @cryptadamist @cryptadamist on x

  you really have to wonder if any of the people praising CZ as some kind of hero have bothered to read the consent order [image]

• @techbrodrip @techbrodrip on x

  CZ (founder and former CEO of Binance) [image]

• @iampaulgrewal @iampaulgrewal on x

  I'm watching the @binance news, too. While we wait for a DOJ announcement, a reminder: crypto isn't going anywhere. But to create a thriving cryptoeconomy in the US, we need clear, sensible regulation so American consumers have access to secure domestic crypto services. 1/4

• @twobitidiot Ryan Selkis on x

  Binance derisking is one of the biggest catalysts we could have in crypto. + Crypto is a “real” industry post $4 billion settlement + CZ takes a long-needed Miami vacation a la Arthur + Market rips higher, ETFs approved in Jan + GOP wins 2024 election, crypto laws passed 🫡 CZ

• @chrisjbakke Chris Bakke on x

  Wow, I mean, if you had told me 3 years ago that: FTX Binance BlockFi Terra Celsius Network Voyager Digital Three Arrows Capital Gemini Trust Hodlnaut And hundreds of other companies were all run by frauds I would have absolutely believed you

• @gergelyorosz Gergely Orosz on x

  Narrator: Binance was, indeed, not much different to FTX. Binance's CEO pleaded guilty to anti-money laundering charges, and fined $4.3B today. If you are still keeping money on Binance: why? There is no upside. It's an offshore operation, with no real guarantees for deposits.

• @wagieeacc Martin Shkreli on x

  here we go again. @cz_binance jail aint so bad, ill put in a good word with flacco and dem

• @rhorider @rhorider on x

  🚨⚠️ Aside from the fine, the indictment suggests there could be additional asset forfeiture related to the charges. This many force them to relinquish certain crypto assets to US enforcement. [image]

• @nikhileshde @nikhileshde on x

  Here's the newly unsealed court filing for CZ's BSA violation https://storage.courtlistener.com/ ...

• @dylanleclair_ Dylan LeClair on x

  While highlighting all of the Binance red flags, everyone was assuming it was suggesting an FTX repeat, when reality is suggesting the BitMEX analog is more accurate. Expect a slow bleed of Binance's relative dominance.

• @danprimack Dan Primack on x

  Sam to Binance. CZ to OpenAI. Greg to Cruise. There. Solved.

• @elonmusk Elon Musk on x

  @WholeMarsBlog Wow

• @trustlessstate @trustlessstate on x

  A DOJ settlement with Binance is hugely bullish Binance takes a hit, but gains U.S. approval and regulatory clarity moving forward The whole industry gets further legitimized

• @tier10k @tier10k on x

  Wow CZ to step down, plead guilty to money laundering violations Will appear in Seattle court today Binance as a company will also plead guilty, and pay $4.3B fine

• @cz_binance @cz_binance on x

  Changpeng Zhao steps down as CEO of Binance, saying “it is the right thing to do”, replaced by Richard Teng, formerly the Global Head of Regional Markets

• r/ethtrader r on reddit

  Binances official statement

• r/neoliberal r on reddit

  U.S. Treasury Announces Largest Settlements in History with World's Largest Virtual Currency Exchange Binance for Violations of U.S. Anti-Money Laundering and Sanctions Laws

• r/ethtrader r on reddit

  Official Release: U.S. Treasury Announces Largest Settlements in History with Binance for Violations of U.S. Anti-Money Laundering and Sanctions Laws

• r/FluentInFinance r on reddit

  Binance and CEO Plead Guilty to Federal Charges in $4B Resolution

• @s3friedman.bsky.social @s3friedman.bsky.social on bluesky

  I haven't read the post-mortem yet on the Binance $4B+ fine levied yesterday, but if the info below is accurate, multiple parties should have been indicted.  [embedded post]

• @brian_armstrong Brian Armstrong on x

  Since the founding of Coinbase back in 2012 we have taken a long-term view. I knew we needed to embrace compliance to become a generational company that stood the test of time. We got the licenses, hired the compliance and legal teams, and made it clear our brand was about trust.…

• @jeffjohnroberts Jeff Roberts on x

  Oof. Binance allowed $900M in transactions b/w US and Iran (Many of these were probably benign. But still a major sections violation) [image]

• @cryptoinformer0 @cryptoinformer0 on x

  CZ: “We banned Iran” Correction: “OK , but it was only $898 million.” “Binance allowed at least 1.1 million transactions, worth more than $898 million, involving customers in Iran, according to the court filing.” https://www.bloomberg.com/...

• @erikvoorhees Erik Voorhees on x

  @nic__carter The entire nation of Iran is a “sanctioned entity” 80 million people Do you think only maybe 70 million of them are evil terrorists? Or all 80 million?

• @nic__carter @nic__carter on x

  I think we can acknowledge that Binance has been a critical lynchpin of crypto adoption globally while also granting that knowingly facilitating 1b in flows to sanctioned entities is extremely bad - and not a victimless crime

• @parrotcapital @parrotcapital on x

  CZ lied to the very end, just like SBF. Just like I told you he would. Funny how that works. 🦜 [image]

• @stevemiran Stephen Miran on x

  I never cease to marvel at what fraction of “innovation” in recent decades is simply due to circumventing regulations. Uber, crypto, Airbnb... And while binance did some evil shit (helping finance Iran, Hamas), maybe we should actually streamline a lot of regulations

• @bijans Bijan Salehizadeh on x

  Binance was used to fund Hamas and other sanctioned entities? I'm shocked that crypto was used as a tool to fund bad actors, terror, and to get around AML rules.

• @ldrogen Leigh Drogen on x

  As someone who is about as anti Hamas and anti Binance as it gets, the focus on this is basically complete nonsense How about the Barclays Bank account Hamas was using for hundreds of millions Or all the money being funneled through NGOs Performative nonsense from Warren

• @levitt_matt Matthew Levitt on x

  Binance allowed illicit actors to transact freely, from child sexual abuse, to illegal narcotics, to terrorism, across more than 100k transactions including those associated with terrorist groups like Hamas, Palestinian Islamic Jihad, Al Qaeda, & ISIS https://content.govdelivery.…

• @mdudas Mike Dudas on x

  @Jason @cz_binance Cryptocurrency is a tiny drop in the bucket of overall “funding of terrorism” and AML violations. Blockchain ledgers are transparent - and a terrible method to launder money, which is why even Hamas told people to stop sending them Bitcoin. See below. https://c…

• @lord_ashdrake @lord_ashdrake on x

  bruhhhh they say that Binance supported terrorist groups, sexual predators, isis, hamas, and everything in between

• @jason @jason on x

  At the end of the day, @cz_binance encouraged folks to break KYC & built his company around it, while knowing it would enable terrorists to covertly and quickly fund their operations Most crypto folks I've met accept that covert funding of terrorism is the price you pay for... [i…

• @adamscochran Adam Cochran on x

  Biggest takeaway from the doc so far is 20-30% of Binance was US and facilitated by “VIP accounts” and other circumvention. Under a DoJ monitor, that liquidity is going to get zapped in an already low liquidity environment. That part sucks for the industry. Hopefully offset by...

• @autismcapital @autismcapital on x

  The DOJ just throwing random scary words to the public to make Binance sound so evil. Hamas? Binance. Iran? Binance. BIN LADEN? Binance. Child abuse? Binance. Ukraine? Binance. Do you know what Hitler used to escape anti money laundering laws? Oh that's right, BINANCE. 😂