Crypto Market Reacts to Binance IRS Investigation by Shedding $150 Billion - page 2.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

This could be one reason why we had such a bearish short-term market the past few days. I wondered about it because I can see recently is all about Elon being himself on Twitter, lol. He was also mentioned at the end of the article, though.

Anyway, I think what has happened in their platform cannot be undone, and with what o_e_l_e_o said, it's weird to move continuously, IYKWIM.

Quote from: bbc.reporter on May 16, 2021, 09:25:54 PM

In any case, the skeptical part of me is only saying that Brian Armstrong and Sam Bankman-Fried might be pushing government to move faster to kill Binance so they can take its market share hehehe.

Being the top exchange would bring a lot more value to their company for sure. I bet it would affect the crypto market so much once Binance is out of the picture. Anyway, FTX is currently racing to be at the top and the news about Coinbase being publicly traded is great as well. They are doing well.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

It is very clear something is wrong behind Binance. I have also speculated that they have been beneficiaries of loans from iFinex, Bitfinex, Tether to manipulate bitcoin.

In any case, the skeptical part of me is only saying that Brian Armstrong and Sam Bankman-Fried might be pushing government to move faster to kill Binance so they can take its market share hehehe.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18748

You mean the exchange which kept opening and closing offices in various countries and tax havens around the world has been implicit in tax evasion? Well, I never! Roll Eyes

First it was China, then Japan, then Taiwan, then Malta, then Bermuda, then the Cayman Islands, then Seychelles, then Jersey. Did I miss any out? Wonder where they will be off to next.

Quote

Much of today's report focused on concerns that, prior to the creation of Binance.US, Binance had encouraged US-based users to bypass the rules by means of a virtual private network

Concerns? This is pretty much proven. They flat out told people they were being blocked because of their IP while offering "alternatives and solutions", while CZ tweeted "VPN is a necessity".

bbc.reporter

legendary

Activity: 3122

Merit: 1492

It appears that the Biden Administration has begun another crackdown and this time with money laundering through exchanges. If you are an American looking for a safe exchange from the regulators, choose FTX or Coinbase. FTX’s founder is a donor to the Democratic party while Coinbase’s founder has met with congress this week. I would not be shocked if there was foul play.

According to a report today from Bloomberg, Binance Holdings is being investigated by the US Justice Department and Internal Revenue Service as officials look into the use of the exchange by employees and/or customers for money laundering and tax evasion.

Binance has denied any wrongdoing, and the report stresses that "not all inquiries lead to allegations of wrongdoing." Binance has pointed to its anti-money laundering program as a success, while stocking up in recent months on former US politicians and regulators to strengthen regulatory compliance. The firm hired former Senator Max Baucus of Montana in March, and brought on Comptroller of the Currency Brian Brooks to lead its US exchange.

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