Binance: $BNB The Future of Exchanges. - page 2.

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Quote from: mich on November 26, 2023, 12:24:11 AM

Well I do not know if he is a flight risk. But he does not think so. His lawyers are wanting the judge to reject the DOJ request to ban him from going to his home in UAE before his sentencing.
There is a reason for them not wanting him to return. I do no know if UAE will extradite him if he does not want to come back when he needs to for the sentencing.
https://www.reuters.com/technology/ex-binance-ceo-zhao-urges-judge-allow-him-leave-us-before-sentencing-2023-11-24/

The sentencing of CZ is to go forward in February 2024 and it's a long time away form home specially on this cold and festive season.
I'm not sure about what the motive was for a backdoor and CZ really is a con man or if US just wants to extort and destroy a Chinese business, which they shamelessly do.
He was a twitter celebrity but I didn't much cared about him anyway. I just hope I get some spikes on price of BNB so I could dump them all before the sentencing. I'm not in much loss but it's alleviating to sell on green.

mich

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Well now this can be getting very bad for CZ. Because now the SEC wants CZ to be facing the same fraud charges as SBF did.

They are saying CZ and SBF frauds are just the same. SEC saying CZ has backdoor access to funds and can steal customer funds like SBF did.

https://www.fxstreet.com/cryptocurrencies/news/sec-believes-binance-and-ex-ceo-changpeng-zhao-crimes-were-similar-to-fraud-witnessed-in-ftx-202311280048

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Quote from: nelson4lov on November 22, 2023, 04:56:15 PM

Quote from: nimogsm on November 22, 2023, 02:07:39 PM

Based on the latest news, I expected a greater drop in the bnb price. Fortunately, everything turned out according to a more positive scenario. In any case, this is a strong reputational blow to the exchange and at the end of the year it will now be interesting to see how the story will develop further.

It was a long time coming. Teng was initially rumored to replace CZ since June when Binance got slapped with that court filing by the SEC — they thought they could maneuver their way around this one but the US justice system is one of the best in the world at finding and prosecuting criminals.

It's going to be a wild west in the industry in the coming year. CZ and SBF were on top of the food chain during the last bull run so much that they were featured in Forbes.

They knew they had done something wrong so they agreed to pay the penalty money anyway. This is true it was a calculated move to remove CZ from his position to make their way around but the DOJ had another plan which has been reflected in their move. This is actually a mockery of society that criminals can make their way around by giving penalty money to the government. It is true that any major steps towards binance would have affected the market heavily but this will be good for the long term.

mich

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Well I do not know if he is a flight risk. But he does not think so. His lawyers are wanting the judge to reject the DOJ request to ban him from going to his home in UAE before his sentencing.
There is a reason for them not wanting him to return. I do no know if UAE will extradite him if he does not want to come back when he needs to for the sentencing.
https://www.reuters.com/technology/ex-binance-ceo-zhao-urges-judge-allow-him-leave-us-before-sentencing-2023-11-24/

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Quote from: 2Pizza410000BTC on November 23, 2023, 12:42:41 PM

Quote from: coininvesting1 on August 11, 2017, 01:27:45 PM

$BNB the ONLY coin where you can invest in the exchange. This will be a top coin for chinese/international traders. Eventually it will only be 100M supply.

Binance is the world's largest cryptocurrency exchange. But currently Binanch has been detained by the SEC on various charges. Binance CEO Changpeng Zhao pleaded guilty to anti-money laundering and other related charges and was fined $4.3 billion. Binance CZ offered to settle all lawsuits for $50 million. Binance CZ admitted all wrongdoing and resigned as CEO. Now that a new CEO has been appointed, it is not yet certain how secure he will be to hold the Binance exchange and coins. But I think BNB is very risky investment right now due to various problems.

CZ stepped down so Binance can keep running without facing any problem's. The new CEO and the rest of the team are surely pulling things together. However, this might also be a test to see how many people try to cash in/out. While some make things complicated, smart people make their gains. Buying in fear and selling in greed—could it be that simple? No financial advice though.

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Of course, many investors or people who like BNB coins will think that the price has dropped drastically, but many people caught CZ's tweet number 4 which was pinned on their Twitter account. (do not believe in FUD or bad news perhaps). This is not the end of CZ in crypto, perhaps an early update that CZ will make a new development

2Pizza410000BTC

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Quote from: coininvesting1 on August 11, 2017, 01:27:45 PM

$BNB the ONLY coin where you can invest in the exchange. This will be a top coin for chinese/international traders. Eventually it will only be 100M supply.

Binance is the world's largest cryptocurrency exchange. But currently Binanch has been detained by the SEC on various charges. Binance CEO Changpeng Zhao pleaded guilty to anti-money laundering and other related charges and was fined $4.3 billion. Binance CZ offered to settle all lawsuits for $50 million. Binance CZ admitted all wrongdoing and resigned as CEO. Now that a new CEO has been appointed, it is not yet certain how secure he will be to hold the Binance exchange and coins. But I think BNB is very risky investment right now due to various problems.

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Quote from: mich on November 23, 2023, 03:15:13 AM

Yes I think we all was thinking the price of BNB would go down alot. And if you do hodl the coin then you canbme ok with what the price is.

So now the US prosecutors think if CZ goes to UAE he might not return for the trial. So they want him to remain in the US.

https://www.reuters.com/technology/us-prosecutors-want-binances-zhao-remain-us-until-sentencing-filing-2023-11-22/

But is he a flight risk or not? With that status hiding is nearly impossible, but you can do magic with the money he has.
For example he could buy a citizenship from a country that doesn't have extradition agreement with us. I am sure he wouldn't like to do that, but better that then getting several life sentences in US prison.
I am not sure why he decided to even go to us in the first place, but maybe that was a part of his plan to keep the legitimacy of binance itself.

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Quote from: mich on November 23, 2023, 03:15:13 AM

Yes I think we all was thinking the price of BNB would go down alot.

Everyone was thinking that it's going to be that the price would send down for BNB because of the news that we've seen but we're all wrong on that part because it seems that BNB just retained the current price that it has got before and after the news. Not that much major or grandstand correction or price pump.

Quote from: mich on November 23, 2023, 03:15:13 AM

And if you do hodl the coin then you canbme ok with what the price is.

Yup, I'm still okay with the price and that doesn't give me that scare at all. As long as it is moving not that low at all despite the situation and news that we're having, it's still fine honestly and it has been stagnant for how long already. I thought that we might see $700 during the bull run or even higher than that. But if my expectation won't exceed or reach that price, that's not a problem.

Quote from: mich on November 23, 2023, 03:15:13 AM

So now the US prosecutors think if CZ goes to UAE he might not return for the trial. So they want him to remain in the US.

https://www.reuters.com/technology/us-prosecutors-want-binances-zhao-remain-us-until-sentencing-filing-2023-11-22/

I thought that everything is fine already, so this is going to be a long process and could end up CZ holding the bars just like SBF? They have different cases but let us see on how the development will go for them.

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Quote from: nimogsm on November 22, 2023, 02:07:39 PM

Based on the latest news, I expected a greater drop in the bnb price. Fortunately, everything turned out according to a more positive scenario. In any case, this is a strong reputational blow to the exchange and at the end of the year it will now be interesting to see how the story will develop further.

Because it is given mate that Binance is a strong company and they have a stable supporters
Plus another thing that CZ does not completely leave the company instead he was just something like demoted for the
time being and we don't know what happened in the future.

Quote from: mich on November 23, 2023, 03:15:13 AM

Yes I think we all was thinking the price of BNB would go down alot. And if you do hodl the coin then you canbme ok with what the price is.

So now the US prosecutors think if CZ goes to UAE he might not return for the trial. So they want him to remain in the US.

https://www.reuters.com/technology/us-prosecutors-want-binances-zhao-remain-us-until-sentencing-filing-2023-11-22/

That is part of the agreement I think and yes this must be the situation to show that He is still
on trial but the way it looks? there have been a settlement agreement from CZ and the government .

mich

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Yes I think we all was thinking the price of BNB would go down alot. And if you do hodl the coin then you canbme ok with what the price is.

So now the US prosecutors think if CZ goes to UAE he might not return for the trial. So they want him to remain in the US.

https://www.reuters.com/technology/us-prosecutors-want-binances-zhao-remain-us-until-sentencing-filing-2023-11-22/

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Quote from: nimogsm on November 22, 2023, 02:07:39 PM

Based on the latest news, I expected a greater drop in the bnb price. Fortunately, everything turned out according to a more positive scenario. In any case, this is a strong reputational blow to the exchange and at the end of the year it will now be interesting to see how the story will develop further.

It was a long time coming. Teng was initially rumored to replace CZ since June when Binance got slapped with that court filing by the SEC — they thought they could maneuver their way around this one but the US justice system is one of the best in the world at finding and prosecuting criminals.

It's going to be a wild west in the industry in the coming year. CZ and SBF were on top of the food chain during the last bull run so much that they were featured in Forbes.

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Quote from: bbc.reporter on November 22, 2023, 01:05:26 AM

If no one in this thread heard the latest update on Binance, CZ agreed to settle his case with the DOJ, pay $4billion and he pleaded guilty on charges of moneylaundering. He will also go to prison for 2 years. However, it appears that despite of this bad news, BNB was not dumped to go under $200. This might be bullish for BNB, I reckon.

BNB didn't dump because there is so much FUD going on and some mainstream media are behind it. However, we don't know if CZ will have to pay the $ 4.3 billion DOJ since he has pleaded guilty to the violation of the anti-money laundering requirement and I also read that he (CZ) will face 18 months in prison.
Meanwhile, another crypto exchange CEO will be targeted soon and this is what we should expected ever since the BTC spot ETF is filed for because the authority will want to clean the system and make sure all KYC activities are fulfilled.
Having said that, we will know on Monday if CZ will go to prison for 2 years, 18 months, or not. Attached are the conditions of his sentence.

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Quote from: nimogsm on November 22, 2023, 02:07:39 PM

Based on the latest news, I expected a greater drop in the bnb price. Fortunately, everything turned out according to a more positive scenario.

Bitcoin is up and so the market does. When the news of CZ stepping down was there, the market reacted so fast and I think that the sentiment all over is bullish.
Or it is that the whales are done buying all of those cheap coins like BNB for them that have been down by 9% based on the news that has been released about CZs announcement.

Quote from: nimogsm on November 22, 2023, 02:07:39 PM

In any case, this is a strong reputational blow to the exchange and at the end of the year it will now be interesting to see how the story will develop further.

End of this year, next year and also for 2025.

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Based on the latest news, I expected a greater drop in the bnb price. Fortunately, everything turned out according to a more positive scenario. In any case, this is a strong reputational blow to the exchange and at the end of the year it will now be interesting to see how the story will develop further.

mich

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Well I think it is such a big settlement for Binance to pay $4 Billion to settle with the Department of Justice. And CZ has to also pay a fine of $53 Million of his own money.
Binance exchange holds 40% of the world's cryptocurrency. And there is already now $1.3 Billion of user funds withdrawn since news of this indictment. I just do hope this is not a case like SBF.

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If no one in this thread heard the latest update on Binance, CZ agreed to settle his case with the DOJ, pay $4billion and he pleaded guilty on charges of moneylaundering. He will also go to prison for 2 years. However, it appears that despite of this bad news, BNB was not dumped to go under $200. This might be bullish for BNB, I reckon.

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Quote from: Xxmodded on August 31, 2023, 04:17:41 AM

Have news with BNB exactly their stable coins BUSD will remove? its true or not because last days I see with my Facebook friend list sharing with removing BUSD to other stable coins. Although Binance have many stable coins pair but looks bad impact actually for Binance exchange and their coin exchange BNB will drop drastically.
CZ need to give good news to make their member in positive mindset because many of them worry with Binance will follow FTX become collapse exchange in the future? many traders still active trading with Binance and they need positive respond from CZ to make them keep believing Binance is the best exchange and not impact yet with many bad news from SEC against with Binance.

Am still looking for more answers on this if anyone can provide. I like to know when exactly BUSD will be removed. Not neccesarilily the exact date just maybe months in between the removal. Am so sad this has to get to this while American politics and power prevail because it is coming from someone that is not their Citizen. And the baby country Canada is doing nothing to set themselves free from America.

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Well BNBchain has now launched its new Secure Multi-sig wallet. It is from the Gnosis Safe protocol and runs on the BSC network and opBNB.
The new added levels of security is to prevent hackers like from the attack 1 year ago. Hackers then stole $570 Million from a vulnerability on the BNB network.
https://www.binance.com/en-IN/feed/post/1535412?ref=98778390

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Quote from: Fixelifix on October 20, 2023, 08:46:24 AM

"You will no longer be able to use your Binance Visa Debit Card from 20th December 2023

This email is to notify you that you will no longer be able to use your Binance Visa Debit Card from 20th December 2023 onwards.

This is because the Binance Visa Debit Card program, issued by UAB ”Finansinės paslaugos ,,Contis“, part of the Solaris Group, is closing in two months’ time."

Cry

It was sad to read about this. But there is so much new regulatory problems, I do not think Binance did have any suck other choice.

https://www.binance.com/en/feed/post/1450999

Topic: Binance: $BNB The Future of Exchanges. - page 2. (Read 132065 times)