Business finance is a merciless, emotionless realm where rules are nearly nonexistent! If you are part of a network, your influence is not insignificant!
The world of Decentralized Finance(DeFi) is worse than the one mentioned earlier because it is not regulated. Not yet!
Binance ($14B daily trading volume), Coinbase ($2.6B), Kraken ($1.1B) cannot exist without influence, let alone without a network! Different ecosystems, different development strategies, different “fiscal” strategies, but all leading to one result : mass adoption and total control!
When someone casts a shadow, there is always a solution to get rid of them. Worse, there is a desire to appropriate their business and publicly “bury” it to be sure.
Obviously, Changpeng “CZ” Zhao is causing a disturbance. But who? Bran AMSTRONG? Jesse POWEL? Worse?
The yellow brand with Masonic overtones is increasingly struggling to break through and establish itself, and its ecosystem has grown too quickly and too well, tempting the biggest players in the world to take ownership. Does Laurence Douglas need a new plugin to integrate it into BlackRock? Did O’Leary resent being called on CNBS “a liar” when FTX was sinking?
Potential Hack before regulation
I have no doubt over any potential hacking of the Binance exchange, and I will explain what I mean and why the likelihood has increased. I hope this won’t happen, but it’s something to keep in mind for now.
Why ?
Even before the decision of the U.S. DoJ, there is the thesis about the practical sale of the business, to Americans in exchange for security. These points were mentioned in previous publications, and everyone could see and read them. I hope the intelligent and thoughtful audience understands. For those who didn’t understand before, they have now come to such conclusions over time.
Regarding Binance, we can all see that it’s no longer the same.
Well, for the most part, it can be renamed to Coinbase or any other name that Americans may come up with. NOW, it is their business. It’s already a small matter. Of course, the point is that Binance now seems to be under American protection. Remember the precedents I described, the ones required by the market and authorities of various countries, not just Americans, for offshore exchanges. They won’t be close to any guarantee of the security of your funds. We see this on Justin Sun as well. As I mentioned before, we’ve seen hacking incidents elsewhere, but not specifically on a crypto exchange. There are several possible developments, all pointing to an increased likelihood of hacking.
Firstly, Americans, even though they currently control everything related to Binance, can create a precedent on their own. That is, hack the exchange and announce it to the world through Twitter, Bloomberg, WSJ, stating that a leak has occurred. This could involve leaked data and the hacking of hot wallets, leading U.S. authorities to convene a briefing, emphasizing the consequences of trusting such leaders in the crypto industry.
Secondly, it could be outside threat such as from the Middle East or North Korea. The point is that the sources of light given the current situation, now point to Binance being an AMERICAN PLATFORM. The decision-makers are in the USA. This fact was declared publicly, marking their victory. Based on elementary logic, whether people like it or not, the dominance and influence of Americans, whether in dollars or the Federal Reserve System, are not appreciated globally.
In conclusion, the probability of hacking Binance has increased for two additional reasons :
- Americans may do it themselves to achieve their goals and strengthen the impact of precedents, emphasizing the unreliability of offshore exchanges.
- Representatives of hacking groups, whether from North Korea or similar, are likely to take action.
The influence of Americans displeases many, making Binance a target. In my opinion, there will either be an attempt or an actual hack, and the world will find out about it.
Struggling lifeline
2021
20.07.2021 | EU to tighten rules on cryptoasset transfers
The rule, which is one of the recommendations of the inter-governmental watchdog, the Financial Action Task Force (FATF), already applies to wire transfers.
Source : Reuters by Huw JONES
BNB > 264.19 USDT
22.07.2021 | Visa and Mastercard stick with Binance as regulatory scrutiny rises
Some banks and smaller payments groups have severed ties with the BIG Crypto Exchange
Source : FT by Adam SAMSON
BNB > 293.00 USDT
27.07.2021 | Binance Margin Sets Date to Delist AUD, EUR & GBP Pairs as Regulatory Pressures Mount
The delisting of the trading pairs with the aforementioned fiat currencies may serve as the first step in pacifying regulators. At the same time, the exchange works its way to meet the laid down obligations
Source : BlockChain.News by Godfrey BENJAMIN
BNB > 313.24 USDT
02.09.2021 | Singapore Tells Binance to Halt Service in Latest Crypto Hit
Binance has announced changes to offerings available to customers in Singapore amid growing regulatory unrest.
Source : Bloomberg by Chanyaporn CHANJAROEN
BNB > 484.08 USDT
13.12.2021 Binance Drops Singapore Cryptocurrency Bourse Application
Binance Asia Services Ltd. the Sinagpre affiliate of the world’s largest cryptocurrency exchange, has withdrawn its application to run a bourse in the city-state.
Fiat-to-crypto platform Binance.sg will wind down operations
Binance Singapore to refocus on blockchain development
Source : Bloomberg by Chanyaporn CHANJAROEN
BNB > 399.10 USDT
25.12.2021 | Turkish unit of crypto exchange Binance fined, news agency says
Turkey’s Financial Crimes Investigation Board (MASAK) imposed an 8 million lira ($751,314) fine on the local unit of cryptocurrency exchange Binance over violations found during liability inspections
Source : Reuters
BNB > 349.39 USDT
2022
21.02.2022 | CZ’s Company Joins Association of Russian Banks
Popular cryptocurrency exchange Binance has joined the Association of Russian Banks as the country moves towards building a nationwide regulatory framework to oversee crypto activity in its jurisdiction.
Source : SanFranciscoTribe by Naga AVAN-NOMAYO
BNB > 356.35 USDT
28.02.2022 | World’s biggest crypto exchange Binance says it will not block all Russian accounts despite Ukraine request
Binance said Monday it will block the accounts of Russian individuals who have been sanctioned, but will not “unilaterally” freeze the accounts of all Russian users
Source : CNBC by Arjun KHARPAL
BNB > 395.50 USDT
06.06.2022 | US Probes Binance Over Token That Is Now World’s Fifth Largest
SEC investigating whether BNB was a security when sold in 2017
Agency has brought numerous cases over initial coin offerings
Source : Bloomberg by Tom Schoenberg, Matt Robinson, and Justina Lee
BNB > 294.77 USDT
31.07.2022 | Binance Investigations Officer: AML Cost Exchange ‘Billions in Revenue
While venting to CoinDesk about unflattering Reuters coverage, the crypto exchange’s investigations team shared insights about the scale of illicit activity at Binance and its crime-fighting methods
Source : CoinDesk by Oliver Knight
BNB > 287.76 USDT
12.12.2022 | U.S. Justice Dept is split over charging Binance as crypto world falters
Some DOJ prosecutors believe evidence justifies filing charges against executives including CEO Zhao
Binance is under investigation for possible money laundering and criminal sanctions violations
Source : Reuters by Angus Berwick, Dan Levine and Tom Wilson
BNB > 276.14 USDT
15.12.2022 | CZ itw on FTX Collapse
How concerned are you that the money given to you by SBF FTX will be clawed back? Are you prepared to hand it back to creditors if they were to ask?”
Source : CNBC SQUAWK BOX
BNB > 258.85 USDT
16.12.2022 | Binance CEO explains why exchange won’t refund Mithril 200,000 BNB after delisting
After its token was delisted, Mithril demanded its deposit of 200,000 BNB back from the exchange.
Binance CEO Changpeng Zhao said his team had made the right decision not to refund Mithril.
Source : The Block by Vishal CHAWLA
BNB > 230.74 USDT
16.12.2022 | Bitcoin Tumbles As Binance ‘Proof-Of-Reserves’ Removed From Auditor’s Site
The news comes shortly after Mazars confirmed on Dec. 7 that Binance possessed control over 575,742 Bitcoin of its customers, worth around $9.7 billion at the time of writing.
The report has since been also removed from Mazars’ website
Source : Zero Hedge by Tyler DRUDEN
BNB > 230.74 USDT
19.12.2022 | Binance’s books are a black box, filings show, as it tries to rally confidence
The world’s biggest crypto exchange, Binance, is battling to shore up confidence after a surge in customer withdrawals and a steep drop in the value of its digital token.
Source : Reuters by Angus Berwick, Dan Levine and Tom Wilson
BNB > 240.23 USDT
2023
17.01.2023 | XRP Whale Has Withdrawn Almost $38 Million From Binance
It looks like the sending address in the case of this XRP transaction was a wallet attached to the crypto exchange Binance. The receiver, on the other hand, was an unknown address, meaning that it was not affiliated with any known centralized platform.
Source : Bitcoinist by Kershav VERMA
BNB > 299.28 USDT
24.01.2023 | Binance Acknowledges Storing User Funds With Collateral in Error
Binance, the world’s largest crypto platform, acknowledged that it mistakenly keeps collateral for some of the tokens it issues in the same wallet as exchange-customer funds.
Source : Bloomberg by Emilly NICOLLE
BNB > 300.32 USDT
14.02.2023 | Binance’s CEO Says Algo Stablecoins May Reemerge
CEO says industry may move away from dollar-backed stablecoins
Paxos to stop issuing Binance-branded coin known as BUSD
Source : Bloomberg By Eva Szalay and Sidhartha Shukla
BNB > 296.06 USDT
17.02.2023 | Binance Considers Pulling Back From US Partners as Crypto Crackdown Escalates
Crypto giant Binance is considering ending relationships with US business partners as regulators turn up the heat.
Source : Bloomberg by Yueqi Yang
BNB > 312.94 USDT
21.02.2023 | Paxos in talks with U.S. SEC over Binance stablecoin- internal email
The firm behind Binance’s stablecoin, Paxos Trust Company, is in discussions with the U.S. Securities and Exchange Commission after the regulator told the company it should have registered the token as a security, according to an internal email from Paxos’ chief executive officer.
Source : Reuters by Hannah Lang
BNB > 311.40 USDT
27.02.2023 | Binance’s Asset Shuffling Eerily Similar To Maneuvers By FTX
When you’re the world’s largest crypto exchange in a largely unregulated market, it is easy to make up the rules as you go.
Source : Forbes by Javier PAZ
BNB > 313.24 USDT
27.02.2023 | Coinbase Suspends Binance Stablecoin Trading
Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes. When reviewing BUSD, we determined that it no longer met our listing standards and will be suspended.
Source : Zero Hedge by Tyler DRUDEN
BNB > 304.50 USDT
27.03.2023 | Binance, CEO Zhao Sued by CFTC Over ‘Willful Evasion’ of U.S. Laws, Unregistered Crypto Derivatives Products
The CFTC alleged Binance offered unregistered crypto derivatives products and directed U.S. customers to evade compliance controls through the use of VPNs.
Source : CoinDesk by Nikhilesh De, Jack Schickler, Oliver Knight, Jesse Hamilton, Cheyenne Ligon
BNB > 310.20 USDT
27.03.2023 | Cryptos Tumble After CFTC Sues Binance And CEO Changpeng “CZ” Zhao
In a time when millions of Americans are pulling billions in deposits from failing banks and allocating them to gold and bitcoin, US regulators were scrambling to come up a means to hammer cryptos and punish those who fled the fiat realm and run toward bitcoin. They may have just come up with one solution.
Source : Zero Hedge by Tyler DRUDEN
BNB > 310.20 USDT
28.03.2023 | Binance Case Is Clear Evasion of Law, Says CFTC Chair Behnam
The CFTC on Monday filed suit against the crypto exchange and CEO Changpeng Zhao.
Source : CoinDesk by Camomile Shumba
BNB > 313.17 USDT
06.04.2023 | Crypto exchange Binance has Australian financial services licence cancelled by Asic
Regulator says Binance must cease trading by 21 April after it incorrectly classified hundreds of retail customers as wholesale investors
Source : The Guardian by Marina HYDE
BNB > 312.04 USDT
08.04.2023 | Binance.US Struggles to Find Bank to Take Its Customers’ Cash
As a stopgap, the exchange is using at least one middleman to store user funds on its behalf. The US arm of crypto exchange Binance is reportedly struggling to find a bank for its customers’ cash after the bankruptcy of Signature Bank left it without a key banking partner.
Source : WSJ by Caitlin Ostroff, Rachel Louise Ensign and Alexander Osipovich
BNB > 310.37 USDT
05.05.2023 | Binance Faces US Probe of Possible Russian Sanctions Violations
The US Justice Department is investigating whether Binance was used illegally to let Russians evade US sanctions and transfer money via the world’s biggest crypto exchange, Bloomberg reported, citing people familiar with the matter.
Source : Bloomberg by Chris Strohm
BNB > 326.33 USDT
12.05.2023 | Binance Says Withdrawing From Canadian Marketplace
“New guidance related to stablecoins and investor limits provided to crypto exchanges” that makes the Canada market no longer tenable for the firm”
Source : Bloomberg by Hadriana LowenKron
BNB > 308.32 USDT
25.05.2023 | Binance suspends deposits for 10 bridged tokens over Multichain situation
Binance temporarily halted deposits for 10 crypto tokens because of issues with the Multichain bridge project.
The affected tokens operate on the BNB Chain and Fantom chains.
Source : The Block by Vishal Chawla
BNB > 304.74 USDT
31.05.2023 | Binance Prohibits Trading of Privacy Coins in France: Reports
Regulatory concerns in France have forced Binance to disable the trading of crypto privacy coins. Users from France, Poland, and Spain have reported receiving announcements through email.
Source Be In Crypto by Harsh Notariya and Geraint Price
BNB > 306.90 USDT
31.05.2023 | Binance initiates layoffs amid market uncertainty, sources claim
Binance, which employs approximately 8,000 people worldwide, is rumored to lay off about 20% of its staff in June. However, these figures have not been officially confirmed by the company.
Source : Crypto.news by Adrian Zmudzinski
BNB > 306.90 USDT
05.06.2023 | SEC accuses Binance of lying to customers, operating in US illegally
The SEC alleged in a lawsuit that Binance and affiliated companies repeatedly lied to customers and misdirected funds to a separate investment fund owned by Binance founder and CEO Changpeng ‘CZ’ Zhao, in an echo of similar accusations against Binance’s former rival FTX and its founder Sam Bankman-Fried.
Source : The Block by Colin Wilheim
BNB > 277.00 USDT
05.06.2023 | US SEC sues Binance, CEO Zhao for breaking securities rules
The U.S. Securities and Exchange Commission has sued Binance Holdings Ltd. and CEO Changpeng Zhao, Bloomberg News reported, citing a federal court filing.
The price of bitcoin declined immediately following the news.
Source : Bloomberg by Austin Weinstein, Allyson Versprille, and Lydia Beyoud
BNB > 277.00 USDT
06.06.2023 | Crypto giant Binance controlled ‘independent’ US affiliate’s bank accounts
The U.S. Securities and Exchange Commission filed a civil complaint against Binance after a years-long inquiry into the company. The agency accused Zhao of secretly controlling Binance.US as part of a “web of deception” to evade U.S. laws and said that until at least December 2020, Binance.US staff “did not have any ability to control” the company’s bank accounts
Source : Reuters by Angus Berwick and Tom Wilson
BNB > 281.00 USDT
07.06.2023 | SEC Seeks to Freeze Binance.US Assets and Protect Customer Funds
The Securities and Exchange Commission said it’s seeking to freeze Binance.US’s assets and protect customer funds, including through the repatriation of client investments held abroad.
Source : Bloomberg by Olga Kharif
BNB > 259.22 USDT
16.06.2023 | France investigates Binance for money laundering as Netherlands shuts door on exchange
The Paris Prosecutor’s Office has opened a preliminary inquiry against the biggest cryptocurrency exchange, Binance, on suspicion of illegally canvassing customers and engaging in aggravated money laundering.
Source : FinBold by Jordan Major
BNB > 239.17 USDT
19.06.2023 | Binance cancels registration for inactive business in the UK
Binance’s deregistration with the FCA did not have an operational impact, as it had never done business in the United Kingdom, the firm said
Source : Cointelegraph by Helen Partz
BNB > 243.02 USDT
29.06.2023 | Binance Crypto Custody License Application Denied by German Regulator BaFin: Report
The firm told CoinDesk that it is continuing to comply with BaFin requirements in “a detailed and ongoing process
Source : CoinDesk by Sandali Handagama
BNB > 233.12 USDT
02.07.2023 | Binance Suffers Fresh Blow As It Loses Key Banking Partner
Paysafe Payment Solutions, the European banking partner of Binance, announced on Thursday that it will no longer offer its embedded wallet solution to the U.S. cryptocurrency exchange across the European Economic Area (EEA) starting from September 25
Source : Crypto Intelligence
BNB > 246.77 USDT
06.07.2023 | Binance plunges into crisis as senior execs quit over CEO Changpeng Zhao’s response to Justice Department investigation
Source : Fortune Crypto by Jeff John Robberts
BNB > 231.92 USDT
01.11.2023 | Binance to Shut Down Ruble Payment Partnership
Binance plans to shut down a partnership with a payments firm that allowed customers to move funds held at sanctioned Russian banks to the cryptocurrency exchange, according to people familiar with the decision and messages Binance sent to a client.
Binance announced its partnership with Belize-registered Advanced Cash, also known as Advcash, back in 2019 for customers to deposit and withdraw rubles.
Source : WSJ by Angus Berwick and Patricia Kowsmann
BNB > 228.15 USDT
21.11.2023 | Binance Pleads Guilty, Loses CZ, Pays Fines to End Legal Woes
Company didn’t prevent Hamas transactions, to pay $4.3 billion
Zhao fined $50 million, sentencing delayed by 6 months
Source : Bloomberg by Chris Strohm, Matt Day, Allyson Versprille, and Ava Benny-Morrison
BNB > 225.66 USDT
27.11.2023 | SEC Keeps Pressing for Evidence of Potential Fraud at Binance.US
The Securities and Exchange Commission is still looking for evidence that Binance and its founder Changpeng Zhao may have a backdoor to control assets stored on the Binance.US platform.
Source : WSJ by Dave Michaels
BNB > 222.50 USDT
29.11.2023 | Binance Will Cease Support for Its BUSD Stablecoin on Dec. 15
The exchange announced earlier this year that it would “gradually” end support for the stablecoin.
Source : CoinDesk by Helene Braun
BNB > 227.43 USDT
30.11.2023 | Philippine Regulators Move to Block Access to Binance Platform
The Philippines’ Securities and Exchange Commission will block crypto trading platform Binance from being accessed in the country, warning the public against unregistered investment products.
Binance’s operator isn’t a registered corporation in the Philippines and the world’s largest crypto trading platform is not authorized to sell securities in the country, SEC said in a Nov. 28 advisory released by the regulator on Wednesday.
Source : Bloomberg by Ditas B Lopez
BNB > 227.67 USDT
08.12.2023 | Binance Withdraws Abu Dhabi License Application
Binance announced the withdrawal of a license application in Abu Dhabi just over two weeks into the tenure of Chief Executive Officer Richard Teng, who faces the task of reshaping the company after its guilty pleas to US charges.
Source : Bloomberg by Olga Kharif
BNB > 239.10 USDT
