Binance is finished

[Anonymous No.54346757]

>funds not safu

https://www.cnbc.com/2023/03/27/binance-and-founder-changpeng-zhao-sued-by-cftc-for-allegedly-violating-trading-rules.html

[Anonymous No.54346777]

>>54346757
gee wonder why the chingchong party front 'exchange' went down yesterday

[Anonymous No.54346781]

>>54346757
isnt binance banned for burgers tho
how can they sue him if binance doesnt operate in the US

[Anonymous No.54346786]

uh-oh, Jackie Chan's ugly son gonnago to jail and start virtual chingchong exchange for prisoners

[Anonymous No.54346827]

>>54346781
financing le terrorism or helping vatnigs evade sanctions. they'll come up with something

[Anonymous No.54346893]

>>54346757
>prices already bouncing back up
lmao America is irrelevant

[Anonymous No.54346894]

>>54346781

Binance.us complies with US rules, it's just big nose cunts and their pet white men rallying against the lower economic classes like usual.

Someone told me years ago, the United States is going to collapse and during it's collapse it's going to isolate, become national socialist and devour itself.

[Anonymous No.54346898]

What are the rules that this chink-z broke anyway?
Who tf is cftc? What right they had that they can sue someone that is overseas?
Where will the money go if cz pay?
Where the fuck were these org when ftx still standing?

[Anonymous No.54346904]

>>54346781
They can sue. Worst case scenario Binance can no longer operate in the US. Even the terrorism and money laundering is flimsy at best. Can only be a case if they settled any transfers in USD or throw US persons/firms.

[Anonymous No.54346905]

Did you notice something? CFTC. Cryptocurrencies are commodities. I don't know why no one sees how bullish that is.

[Anonymous No.54346916]

>>54346904
LOL if you don't think EU will follow suit

[Anonymous No.54346923]

>>54346905
>Cryptocurrencies are commodities
Most are not.

[Anonymous No.54346931]

>>54346916
We wont

[Anonymous No.54346937]

>>54346894
>Someone told me years ago, the United States is going to collapse and during it's collapse it's going to isolate, become national socialist
go back >>>/pol/

[Anonymous No.54346947]

>>54346757
结束了

[Anonymous No.54346948]

>>54346923
The CFTC literally says that in their filing against Binance, see here: >>54346792

[Anonymous No.54346953]

>>54346905
not new fyi:
>The CFTC states this in its complaint, demanding injunctive and other equitable reliefs. Civil monetary penalties against Sam Bankman-Fried, the former CEO of FTX, were also demanded.

>>A digital asset is anything that can be stored and transmitted electronically and has associated ownership or use rights… Certain digital assets are ‘commodities,’ including bitcoin (BTC), ether (ETH), tether (USDT) and others, as defined under Section 1a(9) of the Act, 7 U.S.C. § 1a(9), the filing stated.

>Based on this, the CFTC argues that it has jurisdiction to pursue its claims against FTX and Bankman-Fried. The regulator accuses SBF of having violated Section 13c(b) of the Act, 7 U.S.C. § 13c(b) which stipulates that “any person who, directly or indirectly, controls any person who violates” the commodity futures act will be held liable for such violation.

[Anonymous No.54346958]

The feds have chink's phone LMFAO IT'S OVER BITFUCKS

[Anonymous No.54346976]

>>54346937
he's right though faggot

[Anonymous No.54346981]

>>54346937
>anything I disagree with needs to be contained
if you had valid arguments, you could just use those...

[Anonymous No.54346994]

>>54346893
>what is a dead cat bounce
>america is irrelevent:
>from his american iphone
>on the american internet
>speaking american
>on an american website for americans
>discussing america
cope chang

[Anonymous No.54346996]

>>54346948
I already saw it. The vast majority of cryptocurrencies are securities.

[Anonymous No.54346997]

>>54346916
EU is getting unironically cucked by both US and Russia sanctions on account of the whole war shenanigan. Plus CS will be shitting the bed in the coming months. UBS deal will fall appart very shortly. DB is next. Euribor will make a lot of people poorer. EU will get there but I get the feeling crypto in Europe will be ignored while this is going on.

[Anonymous No.54347003]

>>54346958
I think the Binance US guy Brian Brooks is the snitch, he was only at Binance for 3 months

[Anonymous No.54347011]

>>54346931
>We
cope, you are not running the show.

[Anonymous No.54347035]

>>54346894
It’s too racially mixed to ever unify and become national socialist

[Anonymous No.54347038]

>>54346997
>Euribor will make a lot of people poorer
explain pls
>t. yuropoor

[Anonymous No.54347045]

>>54346994
>speaking American

From the people who brought you the cheeseburger

[Anonymous No.54347071]

>>54346757
KuCoin also offers futures trading lmao

[Anonymous No.54347104]

>>54346994
>american internet
>speaking american

[Anonymous No.54347116]

>>54347038
With the rates hike, existing and new credits with the euribor floating rate will become considerably more expensive (interest will aggravate). People who have housing loans with this rate, which is pretty much anyone who bought a house in the last decade because the rate negative will see their monthly credit payments almost duplicate and will no longer be able to afford it. Fixed rate is also increasing and is higher than the floating rate so new credits will be even more expensive. People will start selling houses and maxing out credit cards to make ends meet. Eurobonds with the floating rate will also see a massive increase in the interest rate, and this might cause some companies to default on their payments, leading to unemployment, defaulted maturities, etc etc

[Anonymous No.54347126]

>>54346757
Binance US is like 1% the trading volume of Binance.com. They should just close down Binance US

[Anonymous No.54347139]

>>54347104
the internet was created in america and literally revolves around america. I can guarantee whatever thoughts in english you ESL niggers have is in an american accent and not a british one.

[Anonymous No.54347159]

>>54346994
>speaking american
What a retard, fucking mutts

[Anonymous No.54347161]

>>54346894
Bingo, makes a good Christian seethe

[Anonymous No.54347205]

>>54347139
Based. Bongs btfo. Call tires tyrees one more fuckin time bongs and see what happens.

[Anonymous No.54347230]

4

[Anonymous No.54347245]

>>54347139
Don't you still have data caps like it's 1980?

[Anonymous No.54347247]

>>54347205
You fok’n wot lad? Swear to harry po’ah I’ll shank your buttocks you sorry twat

[Anonymous No.54347253]

>>54347116
thanks anon

[Anonymous No.54347260]

>>54346757
https://twitter.com/el33th4xor/status/1635384872746500097

[Anonymous No.54347265]

>>54347205
tyres

[Anonymous No.54347270]

>>54347035

And this is where you are wrong.

National Socialism has nothing to do with race.

It's literally just a bunch of cunts, who are in servitude to the government, which the government controls nearly every aspect of your lift at the level of a "nation".

The socialist cunts are the normies, they are the reporters and spies, the eyes, ears and workers of their masters.

It doesn't have to be white people, it can be dark skinned persons dragging you and your family out of your house because you are not complying with your government approved income spending or you decided to not show up to your government directed job which you were assigned.

All countries which became socialist have always had leaders which relied on taking advantage to ignorant people, a blindness, a low IQ, desperation and depression.

Why do you think they are actively giving the negro areas loads of welfare, drugs and lowering standards of education?

Then on the other side they actively give white people massive loans and premium payment jobs.

You see, the government acts as a "Savior" to a problem they create, slowly inching everyone who "concedes" into accepting the bondage of socialism.

[Anonymous No.54347332]

Don't live in US, don't have to follow US laws.
I don't live there, don't vote there, don't chose those people, why the fuck I should be affected by whatever the fuck the US lawmakers want?
CZ should just send a huge Fuck You to US.

[Anonymous No.54347347]

>>54347332
you live in the EU? then you live in the US and are under their law.

[Anonymous No.54347349]

>>54346994
have you been asleep for the past 3 months?
Amerilards have been trying to kill crypto for the past 3 months and we have pumped every time.
The age of America is over and the entire world has realized it.
Nobody fucking cares about your economy anymore.
Is boomer-tier shit. Either come to terms with it and make money, or stay poor.

[Anonymous No.54347359]

>>54347349
>still below 30k
wow you guys are totally winning, only down 50% for like 2 years now.

[Anonymous No.54347375]

>>54347359
>being this much of a newfag

[Anonymous No.54347383]

>>54347349
>The age of America is over and the entire world has realized it.
>Nobody fucking cares about your economy anymore.
>(In two more weeks)
THE WEST HAS FALLEN.

[Anonymous No.54347388]

>>54346757
He gonna get dead

[Anonymous No.54347409]

>>54347383
Check the chart retard.
Notice how we used to dump on every Amerilard announcement.
Now how we pump regardless of every Amerilard announcement.
Notice how we pumped when the pivot was canceled.
Notice how we pumped when your banking system died.
I'm done spoon-feeding you.

[Anonymous No.54347421]

>>54347260
turkroach is shooting himself in the foot considering AVAX was one of the hardest to dump the past few hours kek

[Anonymous No.54347427]

N O B O D Y
C A R E S
A B O U T
A M E R I C A N
M O N E T A R Y
P O L I C Y
A N Y M O RE

(ignore this if you want to stay poor)

[Anonymous No.54347472]

This binance being accused if every single shitty thing under the sun is very similar how women trest Chad vs the beta croaker

Blame the beta for everything the chad did to her with full force of her fury she actually should have had for chad.

[Anonymous No.54347545]

> nooo china man evil, go away, fellow americans don't invest in the country that supplies 50% or more of your products unless is jump man negro clothing approved by your U.S. government.

[Anonymous No.54347583]

>>54346757
bullish for bitcoin

[Anonymous No.54347594]

>>54346894
This is what gets me. If you've paid an army of lawyers to follow the FTC rules, and another to follow the SEC rules, these jews will just make up another permutation of letters and mire you in legal fees. By the time you find out what the jew sniped you on, you're already bleeding. And if you survive, there's a next one, and then a next one.

[Anonymous No.54347615]

>>54347427
in reality the entire world is glued to and tied to US monetary policy lmao, brics subhumans are all brown and not included in the 'world' as they aren't human

[Anonymous No.54347625]

>>54347270
>the government
Your IQ is probably 93...maybe. Maybe.

[Anonymous No.54347703]

>>54347116
my loan is fixed rate, fuck them let them hike the euribor

[Anonymous No.54347712]

>>54347615
>imagine being this far behind the curve
This is why you can't make any money.

[Anonymous No.54347742]

>>54347712
I can guarantee you that I am far wealthier than you are in your brics brown shithole slum lol I am cash rich, property rich, gold rich, and bitcoin rich, but that doesn't mean I am a retard falling for muh THE WEST IS OVER chink meme. Two more weeks.

[Anonymous No.54347744]

>>54347270
>National Socialism has nothing to do with race.

[Anonymous No.54347748]

>>54347594

We are reaching new levels of lawlessness, bypassing the courts and so on with trashing the tradition of democracy and legislation.This means we are close to the next stage of socialism, this is where millions of desperate and angry people look to find a savior and will do "nearly anything" for their hand outs.

It's all in play, cities are trapped, food and water supply is 100% under the control of the government.
They will soon have armies marching around, arresting dissents for not complying.

This is why they want the gun ban, because they know a well armed and trained town in survival mode could wax an entire platoon of storm troopers who are depressed and tilted.

[Anonymous No.54347760]

>>54347625

Which "other" government are you suggesting exists in the united states?

[Anonymous No.54347768]

>>54347748
There is no implementing socialism without an armed population silly.

[Anonymous No.54347777]

>>54347742
When did I say the west was over you fucking retard? Nobody cares about American monetary policy anymore. That's why we pump regardless of what you faggots do. You are becoming just another country and you can't deal with it.

[Anonymous No.54347816]

>>54347744

Nice try with your logical fallacies.

Race wasn't the core of Germany's national socialist system. Their policy was germany for german people which was a pillar in their ideology.

If you think germany during the nazi era didn't slap and kill dissent pure bloodline germans for non compliance you are sadly mistaken.

[Anonymous No.54347848]

>>54347816

[Anonymous No.54347849]

BEHOLD!
THE POWER OF THE GREAT AMERICAN BLACK SWAN EVENT!
SELL NOW!
SELL FOR YOUR LIVES!
AHHHHHHHHHHHHHHH

[Anonymous No.54347870]

>>54346937
> i can't leave my comfort zone because people hurt my fee fees

[Anonymous No.54348014]

>>54347768

lol, germany the 1933's had gun registration, gun control.

That's what is exactly going on today in the U.S.

The government is purposely creating an environment that is uncomfortable, hostile and forcefully staggering financial stability while using media and confuse and program the minds of people.

As people begin to lose hope they are given a choice. The government offers itself as a savior.

> become a police officer, join us, join the glowies anon
> you can get your revenge on those who you feel have done you wrong, justice bringer

> become a criminal anon, join us, steal, sell drugs, sex trafficking, get your freedom from those working class suckers

That's the thing, it doesn't matter what side you think you are on. It's all socialism.

Pick a club, get in line or be disconnected from the welfare.

[Anonymous No.54348173]

>>54346757
But you did put your savings into $KOY like we talked about right?

[Anonymous No.54348176]

>>54348173
RYOSHI >>> CZ

[Anonymous No.54348189]

>>54348014
>lol, germany the 1933's had gun registration, gun control.
For whom, exactly?

[Anonymous No.54348222]

>>54346893
Wash trading.

[Anonymous No.54348377]

>>54347409
The crypto market waits on bated breath for every sentence uttered from our top financial entity; it is almost entirely beholden to the whims of the American markets.

[Anonymous No.54348405]

>>54346923
I mean, If Bitcoin and Litecoin are commodities than almost currencies are. If Ethereum is a commodity then all POS L1s too except maybe blatantly centralized stuff like XRP (Which i believe will also be declared as a commodity)

[Anonymous No.54348423]

>>54348405
The only ones at risk are probably governance tokens, cex, dexes and maybe L2s

[Anonymous No.54348487]

>>54347139
Bongs invented internet.

[Anonymous No.54348499]

>>54346757
crypto kikes laundered fuck tons of dirty money directly to the DNC but fuck this chink in particular, I guess

[Anonymous No.54348526]

>>54348377
>The crypto market waits on bated breath for every sentence uttered from our top financial entity
Not anymore, check the charts.

[Anonymous No.54348586]

>>54347816
>Race wasn't the core of Germany's national socialist system. Their policy was germany for german people
You know Hitler had a specific term for 'german people' right? In fact, it was used so often that only someone born yesterday and raised on the shopping channel never has heard about his "Aryan Race".
>Aryan Race
>Race.
Get it together anon, you are an embarassment to the Internet.

[Anonymous No.54348610]

>>54346827
Both are objectively true, but it's not like it's feasible to stop it

[Anonymous No.54348667]

>>54347116
>People will start selling houses
Good, housing market was delusional for the past couple of years pre war. They were giving loans to everyfuckingbody

[Anonymous No.54348679]

>>54346931
Sure is a good thing you’re giving Ukraine all your war supplies. Gonna make it real easy for Russia to steamroll you all the way to the Atlantic.
But that won’t happen, because you’ll bow to American pressure because you’re too passive to arm yourselves. Need a protector, like you have for the last 150 years.
As mention, Europe is irrelevant

[Anonymous No.54348710]

What a fucking idiot. Binance is going nowhere. The Jews, SBF and the like - did just that the last two years. Now, they are trying to make you believe with false fud bullshit that is happening now - when it already fucking happened. There’s reality - what already happened and then there’s the lie. This is how Jews and satanists work - they get defeated, then they USE that same defeat to try and create a win. Not this time motherfuckers.

[Anonymous No.54348712]

Mr Anderson! What good is imaginary internet money if you are unable to exchange it into dollars?

[Anonymous No.54348713]

>>54346898
>>54347594
Pottery

[Anonymous No.54348822]

>>54346904
>Worst case scenario Binance can no longer operate in the US.
you might be retarded. the internals of how binance works are about to become public knowledge during discovery through "leaks."
you guys CRITICALLY fucked up from day one when you got on board with crypto, as if driving it up into bubble territory and pulling in innocent bystanders was somehow good for you. bitcoin might have been on its way to kill central banking and break the backs of fiat currencies, i'll admit that.
but you wanted to be rich instead.
what you forgot is that the government will not suffer competition in their continued fleecing of their populations. they're not there to play fair and be beaten out in the open when better ideas come along, that's a fucking fairytale.
you were never going to win and live out some fantasy of being gracious overlords to nonbelievers. and you were never going to lose and then get the kid-glove treatment for trying and failing because, "hey this is america and we're still free right?"
you are being assassinated for even stepping onto the playing field

[Anonymous No.54348883]

US is a whore and they want TIP. CZ will throw them 100M like bitmex did in 2020, and they'll continue collecting their tributes

[Anonymous No.54348889]

>>54348822
nobody cares about the US anymore lmao

[Anonymous No.54348950]

it's over

[Anonymous No.54348973]

isnt the cftc the ones who got arthur hayes? how did that affect bitmex users and the price of bitcoin at the time?

[Anonymous No.54348981]

>>54346757
>listening to CNBC after they blatantly censured banks charts earlier

[Anonymous No.54348982]

So BTC to 16k? I’m fine with that. I’ll gladly buy the dip

[Anonymous No.54348988]

so the EU, the US and big tech companies all magically decided on a Monday March 27th 2023 to loudly proclaim to the masses that crypto = bad all at once?

if this was pre Russia vs Ukraine China would also join in today by banning crypto for the hundredth time as well lmao

[Anonymous No.54349024]

>>54348988

[Anonymous No.54349037]

>>54348982
>So BTC to 16k?

only idiots who missed the bottom could be stupid enough to think that

[Anonymous No.54349125]

>>54346786
virtual cigarettes on the cellblock chain

[Anonymous No.54349146]

>Banks are going down one by one
>Printer goes brrr
>No fucking news on the media about it.
>All tech companies announce that crypto is bad
>Some fucking nobody institution sues Binance
>All news talk about how crypto is bad

[Anonymous No.54349194]

>>54346757
good just bury the fucking scamming chink already

[Anonymous No.54349691]

>>54346757
Self custody bros. not your keys, not your coins.

[Anonymous No.54350117]

CFTC?

you think CZ cares about some comission based in a country that is going to collapse any moment?

You americans are retarded as fuck lmao.

[Anonymous No.54350160]

>>54349146
kek this

[Anonymous No.54350191]

>>54349194
>good just bury the fucking scamming chink already

[Anonymous No.54350253]

>>54346781
The world will have transexuals and niggers or the US will destroy and sanction you. Simple as.

[Anonymous No.54350254]

>>54348950
Thank God. Let this little worm try to escape justice.

[Anonymous No.54350291]

>>54347359
>buying at 64k is the only possible entry

[Anonymous No.54350322]

>>54350191
Lmao

[Anonymous No.54350325]

>>54349037
BTC will likely range back down to the teens again this year. It makes no difference to me since I’m not a notmie HODLer, I just find it funny how emotionally invested and desperate people are in the idea that the bottom is in and the next bull is around the corner.

[Anonymous No.54350345]

>>54348586
Post a video of Hitler saying Aryan race in German language

[Anonymous No.54350347]

>>54350191
/thread

[Anonymous No.54350379]

>>54350325
The hash rate is sky rocketing
Several states already sided with BTC over CBDC (Texas, Florida, Wyoming, etc.)

It's not going back to the teens

[Anonymous No.54350482]

>>54350379
When the US enters a recession the price will dump. Could be back to 16k or could just be low 20s. Regardless the next bull obviously won’t happen until next year at the earliest which is in keeping with the halving cycle. If anything it could take longer this time due to bad macro.

[Anonymous No.54350567]

>>54350482
>If anything it could take longer this time due to bad macro.
thats exactly what (((they))) want you to think, AGAIN.

[Anonymous No.54350589]

>>54346898
Americans think their laws apply to every citizen of the world, and if you disagree they will send you to Gitmo.

[Anonymous No.54350671]

>>54347816
You're stupid and wrong.

[Anonymous No.54350709]

>>54346994
>only women use iphones
>internet is a british invention
>speaking british
>on an american website about Japan
>discussing finance (America is bankrupt)

[Anonymous No.54351032]

>>54350254
>"justice"
lmao

[Anonymous No.54351061]

>>54346757
this country is finished

[Anonymous No.54351411]

>>54350709
>internet is a british invention
Burgerstan invented electricity, the telephone, telephone network, the computer and connected all those together to invent the internet.

[Anonymous No.54351798]

>>54348950
If fat fucking Kim heard that, you can be sure CZ heard that as well and he simply won't enter any such jurisdiction. What's burgerland to do? Send marines to pakistan after him like he's osama?

[Anonymous No.54351836]

>>54347139
based and true

[Anonymous No.54352329]

>>54350345
Oh gee, I guess you got me. Fine, Hitler actually loved everyone equally, was a devoted pacifist, and embraced a multicultural social policy. He definitely have unique racial theories and he definitely, DEFINITELY, never mentioned race, aryans, an aryan race, or races of aryans. Definitely never happened.
>Stop wasting your life with that bullshit anon.

[Anonymous No.54352368]

>>54350253

[Anonymous No.54352498]

>>54352368

[Anonymous No.54352524]

>being sued over something literally every scummy jew bank does on a daily basis
typical 3. world country behaviour, what a fucking clown fiesta of a ¨nation¨

[Anonymous No.54352531]

>>54352498

[Anonymous No.54352564]

>>54346757
If he was a fraud they would look the other way
the fact that the SEC is doing anything means he's probably a good guy

[Anonymous No.54352587]

>>54346757
Kikes literally seething that a chink is beating them at their own game lmao.

[Anonymous No.54352608]

>>54347045
Clearly a joke, dude

[Anonymous No.54352621]

>>54346904
that's not the worst case scenario
worst case scenario is cz and his staff go to jail because of RICO violations

[Money Stuff: The CFTC Comes for Binance No.54352657]

from 3 hours ago:

Binance
A decent rule of thumb is that all cryptocurrency exchanges are doing crimes, and if you’re lucky your exchange is doing only process crimes. Today the US Commodity Futures Trading Commission sued Binance Holdings Ltd., Changpeng Zhao’s big crypto derivatives exchange, for letting Americans trade crypto derivatives. There are no accusations that Binance is stealing customer money, or even taking big risks with it, which makes Binance look better than some other crypto exchanges I could name. There are … look, there are not no accusations that Binance is laundering money for terrorists or secretly trading against its customers, but there are relatively few accusations like that; again, as crypto exchanges go, that’s pretty good.

No, the CFTC’s case is mainly about letting US customers trade crypto derivatives. It is illegal to run a crypto derivatives exchange in the US without registering it with the CFTC, and it’s not exactly easy to do that either; if you have a crypto derivatives exchange abroad but have not registered it in the US, it is illegal to let US customers trade on it. So the basic rule is that US customers can’t trade crypto derivatives, and big international crypto derivatives exchanges (Binance, FTX before it blew up) sometimes have US-only platforms (Binance US, FTX.us) that let US customers trade a limited set of products, but not most derivatives.

For retail customers this is probably fine: A crypto exchange can make a bit more money from retail gamblers if it offers them high-leverage futures trading, but there are plenty of gamblers in the world, and also you can make decent money from US traders just by letting them trade crypto for cash.

[Money Stuff: The CFTC Comes for Binance No.54352688]

>>54352657
But it is a problem for a big exchange, because a lot of the big high-frequency market-making firms in financial markets happen to be in the US. If you want to run a global crypto exchange, or a global crypto futures exchange, you will want the big New York and Chicago high-frequency trading firms to make markets on your exchange, because that will make your exchange more liquid and your prices more accurate. And they will want to make markets on your exchange, because they will make more money that way. And they are big institutional trading firms with offices around the world and plenty of Cayman Islands subsidiaries, so if you were to say to them “hey technically we can’t offer our products to Chicago residents” they would say “no no no we are residents of the world of global capital, not Chicago, it’s fine.”

But it is not fine! The CFTC complaint contains a certain amount of retail-focused subterfuge. (Binance has a website that helps people understand how to trade on Binance, and the website had an explanation of how to use a virtual private network to log into Binance without disclosing that you are in the US, and the CFTC doesn’t like that. [1] ) But what is striking about the complaint is that it is mostly about how Binance offered trading services to large New York and Chicago high-frequency trading firms through their offshore subsidiaries. For instance [2] :

>At some point before October 2020, Binance formalized its processes for instructing U.S. VIP customers on the best methods to evade Binance’s compliance controls in a corporate policy titled “VIP Handling.” Zhao contributed ideas that were incorporated into the VIP Handling policy. Pursuant to the VIP Handling policy, once a customer service representative “hands the affected user over to VIP,” the VIP team would “[m]ake sure the user has completed his/her new account creation with no U.S. documents allowed.”

[Money Stuff: The CFTC Comes for Binance No.54352699]

>>54352688
>U.S. VIP customers often followed these instructions by submitting “new” KYC documentation associated with a shell company incorporated in a jurisdiction other than the United States, such as the British Virgin Islands, to act as the nominee for the “new” account. …

>Binance’s VIP Handling policy also established methods for Binance personnel to troubleshoot for U.S. customers that were identified as such through their IP address (as opposed to KYC documentation). For these customers, Binance instructed its personnel to “[i]nform the user that the reason why he/she cant use our www.binance.com is because his/her IP is detected as US IP. If user doesn’t get the hint, indicate that IP is the sole reason why he/she can’t use .com” [emphasis in original]. Lim flagged a passage in the VIP Handling policy for his colleagues that further explained: “We cannot teach users how to circumvent the controls. If they figure it out on their own, its fine.”

>Displaying the ecosystem’s tone at the top, Zhao helped manage the implementation of Binance’s VIP Handling policy. On October 9, 2020, around the time Binance began sending emails to U.S. customers pursuant to the policy, Zhao had the following exchange with an employee who would ultimately become Binance’s head of institutional sales:

>VIP team member: Hi CZ . . . I went through list of affected API clients, it includes a number of large strategic accounts including [a Chicago-headquartered trading firm] who is currently is a top 5 client and 12% of our volume

>Zhao: Give them a heads up to ensure they don’t connect from a us Ip. Don’t leave anything in writing. They have non us entities. Let’s also make sure we don’t hit the biggest market makers with that email first. Do you have signal?

[Money Stuff: The CFTC Comes for Binance No.54352715]

>>54352699
That is, a US trading firm that was 12% of Binance’s volume was getting locked out of Binance’s application programming interface — the direct connection to Binance’s matching engine that high-frequency trading firms need to trade algorithmically — because it had a US IP address. So Binance told it — not in writing! — to use a VPN to connect.

There is a whole section of the complaint devoted to “Examples of Market Participants Currently Trading on Binance and Binance’s Efforts to Help Them Evade Its Compliance Controls.” It’s worth quoting extensively, because these “market participants” are not retail gamblers or Russian oligarchs, but multinational proprietary trading firms:

>Trading Firm A is a quantitative trading firm that has traded bitcoin perpetuals on Binance, among other products, through at least three different accounts during the Relevant Period. Trading Firm A is a Delaware limited liability company headquartered in Chicago, Illinois. Trading Firm A also has offices in New York and Amsterdam. …

>In June 2019, a Binance Key Account Manager instructed Trading Firm A to “switch the account KYC.” Following Binance’s instructions, Trading Firm A opened a “new” Binance account in August 2019 in the name of a wholly-owned subsidiary incorporated in the Cayman Islands. Substantially all personnel that perform work for this Cayman Islands nominee entity are employed by Trading Firm A or its subsidiaries and Trading Firm A controls all aspects of its Cayman Islands subsidiary. …

[Money Stuff: The CFTC Comes for Binance No.54352733]

>>54352715
>Trading Firm B is a quantitative trading firm headquartered in New York and incorporated in Delaware. Trading Firm B has at all relevant times been ultimately majority owned by U.S. residents. Numerous senior managers, including the individual who functions as Trading Firm B’s CEO, have worked from Trading Firm B’s New York headquarters. Trading Firm B also has offices in London, Amsterdam, Hong Kong, and Singapore. Trading Firm B uses “proxy servers” to access the internet. Like VPNs, proxy servers obscure an internet user’s true IP address.

>Trading Firm B conducts its digital asset trading activity on Binance through a dedicated trading desk that utilizes automated trading strategies programmed into computer algorithms developed by personnel at Trading Firm B’s New York headquarters, among other locations. ...

>On March 11, 2022, Trading Firm B submitted KYC documents to Binance concerning an application for a “new” Binance account to be held by a nominee shell company organized under the laws of Jersey. The shares of this new nominee entity are “owned” by a third party that has no affiliation with Trading Firm B and does not exercise any control over Trading Firm B’s trading activity on Binance.

[Anonymous No.54352737]

>>54352657
>>54352688
>>54352699
>>54352715
dont care didnt ask

[Anonymous No.54352741]

>>54347003
agreed

[Money Stuff: The CFTC Comes for Binance No.54352746]

>>54352733
>Trading Firm B’s Jersey nominee does not have any employees and does not have any meaningful sources of capital, apart from Trading Firm B. Trading Firm B’s Jersey nominee has entered into at least two contracts with Trading Firm B subsidiaries. First, a “Services Agreement.” Under the terms of that agreement, a Trading Firm B subsidiary agrees to provide office space, personnel, technology, information technology support, including maintenance of all services and systems databases, and “any services as the parties may agree from time to time.” Second, a “Confirmatory Note.” Under the terms of that note, a Trading Firm B subsidiary agrees to transfer funds to Trading Firm B’s Jersey nominee for the purpose of engaging in “Nominee Trading Activities.” In return, Trading Firm B’s Jersey nominee agrees to provide Trading Firm B with the “Net Proceeds” of its nominee trading activity on Binance.

Trading Firm B is a New York trading firm that set up a Jersey entity to trade on Binance, and entered into an agreement to manage that entity’s trading. This is not some retail trader reading the Binance website and realizing that he can use a VPN to gamble on crypto futures; this is a big algorithmic market maker with sophisticated lawyers who thought “well obviously we’re allowed to trade on Binance even though we happen to live in New York, let’s just set up a Jersey company and get the documents in order.” But the CFTC isn’t having it.

[Anonymous No.54352762]

>>54352737

[Money Stuff: The CFTC Comes for Binance No.54352780]

>>54352746
The last few weeks have seen a wide-ranging and aggressive US crackdown on crypto. In February, US banking regulators gently suggested that US banks should be careful about crypto deposits, and all of the crypto-friendly US banks vanished in a puff of smoke. Last week, the US Securities and Exchange Commission dropped a hint that Coinbase Global Inc., the largest US crypto exchange, might be illegal, because it lists a variety of crypto tokens and the SEC thinks that almost all of them (not Bitcoin) are securities. Various bits of the crypto financial system — lending, staking — have previously been declared more or less illegal by the SEC.

Many of these regulatory moves look like retail investor protection: Crypto firms are selling tokens to retail investors without all of the disclosure and regulatory oversight that the SEC and CFTC would like, so the SEC and CFTC go after them to make them follow rules designed to protect retail investors. It is a fairly simple story. Not everything is like that, though. Telling banks to be careful about crypto customers is not really about protecting naive banks from the dangers of digital assets. [3] It is about financial stability, I guess? Or it is about denying crypto access to the US banking system, cracking down on crypto wherever the regulators can?

[Money Stuff: The CFTC Comes for Binance No.54352790]

>>54352780
The CFTC’s complaint here gestures at traditional regulatory concerns like retail customer protection and cracking down on money laundering. But it is mostly about cutting off a big international crypto exchange from big sophisticated proprietary market-making firms in the US. I think the market expectation here was that if you are a big trading firm trading with your own money and your own algorithms, and you have enough lawyers and offshore shell entities, you can trade on any crypto exchange in the world from the comfort of your Chicago office: There might be a technical argument that it’s not allowed, but your lawyers are aggressive and sophisticated enough to get around that technicality, and anyway why would the CFTC care? But the CFTC does care, perhaps not because it wants to protect big US high-frequency trading firms from the risks of trading on Binance, but because Binance is the biggest crypto exchange and this is a lever to crack down it. And the CFTC also has lawyers who are sophisticated and not deterred by technicalities — here, for instance, the technicality that Trading Firm B’s account actually belonged to a Jersey company.

The financial world is interconnected, and everything touches the US at some point, and US regulators have become experts at using that fact to get jurisdiction over the whole financial world. And now they are coming for Binance.

[Anonymous No.54352796]

>>54352715
I wonder if that's Cumberland/DRC. either way, Tether's about to die

[Money Stuff: The CFTC Comes for Binance No.54352809]

>>54352790
Anyway I said that there are only a few accusations of financing crimes or secretly trading against customers in the CFTC complaint, but there are not none, and I should quote them. Here’s this:

>Internally, Binance officers, employees, and agents have acknowledged that the Binance platform has facilitated potentially illegal activities. For example, in February 2019, after receiving information “regarding HAMAS transactions” on Binance, Lim explained to a colleague that terrorists usually send “small sums” as “large sums constitute money laundering.” Lim’s colleague replied: “can barely buy an AK47 with 600 bucks.” And with regard to certain Binance customers, including customers from Russia, Lim acknowledged in a February 2020 chat: “Like come on. They are here for crime.”

[Money Stuff: The CFTC Comes for Binance No.54352824]

>>54352809
And here’s this, on Binance’s in-house funds allegedly trading on its platform:

>During the Relevant Period, Binance has traded on its own platform through approximately 300 “house accounts” that are all directly or indirectly owned by Zhao, as well as accounts owned by Merit Peak and Sigma Chain. Zhao has also traded on the Binance platform through two individual accounts. … On information and belief, Binance’s proprietary trading activity on Binance’s own markets is directed by Binance’s “quant desk.”

>Binance does not disclose to its customers that Binance is trading in its own markets in its Terms of Use or elsewhere. Consistent with its apparent attempt to keep its proprietary trading activity on its own markets top secret, Binance has refused to respond to Commission-issued investigative subpoenas seeking information concerning its proprietary trading activity on Binance, including transaction data and communications among the members of the Binance “quant desk.”

Yes I mean if you’re a non-US crypto exchange and US regulators come to you and say “give us all of your internal communications about your trading activity,” you will be tempted to say no! Why should the US regulators get all of your internal communications, when you are a non-US exchange? But that is not how the US regulators see it.

[Anonymous No.54352832]

I'm selling. There is a concentrated effort to absolutely kill and/or neuter bitcoin. It appears it was not the chosen.

[Money Stuff: Citizens Valley Bank No.54352837]

>>54352824
Hey they sold SVB:

>First Citizens BancShares Inc. agreed to buy Silicon Valley Bank after a run on deposits wiped out the company in the biggest US bank failure in more than a decade.

>The deal to settle SVB’s fate could help tamp down some of the turmoil that has engulfed the financial world, and shares of regional banks rallied on the news, with First Citizens up 44%. The Federal Deposit Insurance Corp. seized SVB earlier this month amid concern that bank runs could spread.

>The acquisition transforms First Citizens into one of the top 15 US banks, according to Bloomberg Intelligence, with help from some favorable terms. First Citizens is buying about $72 billion of SVB’s assets at a discount of $16.5 billion, according to an FDIC statement.

>This leaves about $90 billion in securities and other SVB assets in the hands of the FDIC, and an estimated cost of the failure to the Deposit Insurance Fund of about $20 billion. Meanwhile, the FDIC gets equity appreciation rights in First Citizens with a potential value of $500 million.

The financing of the deal is sort of fascinating. [4] First Citizens is getting about $110.1 billion of assets, including $35 billion of cash and $72 billion of loans. In exchange, it is putting up zero dollars and assuming about $93.6 billion of liabilities, for a total purchase price for those assets of negative $16.5 billion.

[Anonymous No.54352851]

>>54352780
the subtext, i think, is that Binance is an extension of the Chinese government (even if they are technically headquartered outside China) and we're currently seeing the cold war for control over digital currency go hot
complicating this is that there are multiple factions within the west, several of whom appear to have different allegiances. for example, the SEC, much of the Silicon Valley VC players and FTX are aligned with one faction, while big/old money legacy financial system and other parts of the government like central banks are aligned with another

[Money Stuff: Citizens Valley Bank No.54352855]

>>54352837
The liabilities consist mainly of:

- $56.5 billion of SVB deposits, and
- a $35 billion five-year promissory note to the FDIC with 3.5% interest.
There is also a series of deals to share the upside and downside. On the downside, First Citizens bears the risk of the first $5 billion of losses on the portfolio, but the FDIC shares any additional losses 50/50. On the upside, if there are no additional losses, First Citizens has to give the FDIC some money back, up to $1.5 billion; the FDIC also gets a “value appreciation instrument” giving it some upside in First Citizens’ stock, capped at $500 million. [5]

Arguably the basic problem at SVB was that it had a portfolio of long-term assets (loans, Treasury bonds, etc.) supported by rickety short-term financing: SVB was funded mainly by deposits, almost all of which exceeded the FDIC’s deposit insurance cap of $250,000 per account. When depositors got nervous, they took out a lot of money all at once — $42 billion in one day — and SVB didn’t have enough money to pay them.

The basic fix for this is pretty much to get some long-term funding — ideally cheap long-term funding, since SVB loaded up on long-dated assets back when interest rates were very low, and would be losing money if it had to borrow at 5% to fund them. And that is in fact what happened. SVB’s $90 billion securities portfolio now belongs to the FDIC, which is the US government and gets very cheap funding

[Anonymous No.54352871]

>>54352832
are you kidding? it's been neutered since 2017, when it died as a p2p currency and became a "store of value"

[Anonymous No.54352880]

>>54352851
The subtext is that the FTC and the SEC want crypto gone.

[Anonymous No.54352928]

>>54352871
It was a stupid and senseless p2p currency, it's more transparent to tracking than regular old money, it's prone to being stolen with no recourse, and it's main exchanges are run by retarded crooks.

It was always Beanie Babies Mk. 2, and the "projects" were always grifts.

[Anonymous No.54352956]

>jews not having it for their goys makes money without their knowing
This is all there to it eh?
They are not having it

[Anonymous No.54352957]

>>54352880
they want to replace it with their own version after the dust settles and use it plus climate change to sell a new globohomo ministry

[Anonymous No.54353002]

>>54352957
>they want to replace it with their own version
They want to replace digital financial transactions with a retarded system that uses 10,000 times as much energy?
Doubt.jpg
>>54352956
Yeah, why pay marginal fees to 70 yr old Jews when you can have it all vanish into the pockets of a 20 something Jew, or a Nork or Chang or Poo just rob you with no recourse?

[Anonymous No.54353026]

>>54347139
You are on a World Wide Web website, something created at CERN you dumb fucking nigger.

[Anonymous No.54353029]

>>54347742
Get a grip. Society is obviously decaying.

[Anonymous No.54353040]

>>54346757
If Jesus came back tomorrow fucking Amerifats would beavering away to find a way to sue him. What a shitstain on the history of civilisation that country is

[Anonymous No.54353049]

>>54353029
This has been said since before the birth of Christ.
Some Babylonians were probably muttering this in the market square.

[Anonymous No.54353104]

>>54353040
>Jesus came back
What the fuck did Jesus thought for he immediately skedaddle to heaven instead having rule the earth after his resurrection?
>fucking jews I swear

[Anonymous No.54353112]

>>54353104
You'd put up with people for maybe a year before leaving too.

[Anonymous No.54353158]

>>54346894
>>54347270
>>54347748
>>54347816
>>54348014
High IQ posts. Shame about the tards replying to you. It's depressing when you realize you can't escape from this socialism shit because throughout history the average majority have and always will be NPCs.

[Anonymous No.54353165]

>>54346781
The same way they can jail Julian Assange without him even being a US citizen

[Anonymous No.54353204]

this is just like hindenburg research's report about block. literally nothingburgers.

>hurr durrr binance told employees to use vpn

bruhs at cftc never worked in a private company i guess. they don't even know what a vpn is.

anyway, fellas with big noses, we won't even come after you, people will fuck you up when they realize all of the banks you've been running for the last 200 years collapsed and their money is either gone or has no value. try to find ways to explain your fuck up to the public instead of fudding the crypto space.

[Anonymous No.54353209]

>>54353158
People don't like bankers at all; however they prefer them to scamsters and internet jagoffs like yourself.

[Anonymous No.54353245]

>>54353204
Banks have been susceptible to irrational panics since before your grandpappy's days.
That's the nature of them. Crypto is 50x more irrational, and (so far) mostly unregulated, so it can't replace them.

[Anonymous No.54354105]

>>54348189

> For whom, exactly?

Everyone.

[Anonymous No.54354167]

>>54346757
can I get a haircut like mr zhao?

[Anonymous No.54354241]

>>54354105
you know who

[Anonymous No.54356051]

>>54347139
>whatever thoughts in english you ESL niggers have is in an american accent and not a british one.

[non diamonds hands lada owner. No.54356549]

>>54346777
checked
its fucking over.

[Anonymous No.54356613]

>https://coingeek.com/binance-embattled-exchange-finds-itself-under-more-scrutiny-in-us-this-time-with-sec/
Binance literally fabricated fake trading firms to trade against/ scam their US customers .

YIKES
>YIKES
YIKES
>YIKES

[Anonymous No.54356674]

>>54356613
Jesus Christ

[Anonymous No.54356834]

>>54349146

[Anonymous No.54356979]

>>54351411
And they did it while white. It really was a good run.