This bank paid $1.8 billion after it pleaded guilty on moneylaundering conspiracy violations. This is lesser by more than 50% of CZ's $4 billion fine to the American government. Also, will the CEO of this bank also go to prison for 4 months very much similar to CZ? It will be headshaking if there will no no arrests and imprisonments on their executives. However, we already very much know that the government is a coddler of powerful criminals from banking and traditional finance.
TD Bank N.A. (TDBNA), the 10th largest bank in the United States, and its parent company TD Bank US Holding Company (TDBUSH) (together with TDBNA, TD Bank) pleaded guilty today and agreed to pay over $1.8 billion in penalties to resolve the Justice Department’s investigation into violations of the Bank Secrecy Act (BSA) and money laundering.
TDBNA pleaded guilty to conspiring to fail to maintain an anti-money laundering (AML) program that complies with the BSA, fail to file accurate Currency Transaction Reports (CTRs), and launder money. TDBUSH pleaded guilty to causing TDBNA to fail to maintain an AML program that complies with the BSA and to fail to file accurate CTRs.
Source https://www.justice.gov/opa/pr/td-bank-pleads-guilty-bank-secrecy-act-and-money-laundering-conspiracy-violations-18b
Topic: Is the Binance the next to bite the dust or FUD? (Read 2420 times)
@tabas. It was taken on 2021 or 2022 when the fud campaign on Binance was only beginning. CZ wrote 4 rules on how Binance will survive on a bear market. No.4 is do not listen to the fud and every time there was fud on Binance, he would share that image with 4 fingers.
So, there's the story and I see this meme now like forever that everyone is posting it on many posts. 
In any case, it appears that he made 4 a reality. He was sentenced on the 4th month, on the 4th year of the 2020s and he was given 4 months hehehee.
What a foreshadow and the matter in here is that from 36 months of jail, down to 4 months. What a magic that he and his legal team did to lessen that a lot. It's not happening everyday but definitely, money played a big part on his case.
@tabas. It was taken on 2021 or 2022 when the fud campaign on Binance was only beginning. CZ wrote 4 rules on how Binance will survive on a bear market. No.4 is do not listen to the fud and every time there was fud on Binance, he would share that image with 4 fingers.
In any case, it appears that he made 4 a reality. He was sentenced on the 4th month, on the 4th year of the 2020s and he was given 4 months hehehee.
In any case, it appears that he made 4 a reality. He was sentenced on the 4th month, on the 4th year of the 2020s and he was given 4 months hehehee.
@tabas. How long is CZ's prison sentence?
This is CZ's reply hehehehehehee.
Hahaha! When that picture was taken? I guess if it's taken before the verdict came then it's a foreshadow from him that he'd get definitely 4 months in prison and he has seen it coming. This is CZ's reply hehehehehehee.
Meanwhile, in the Twitter(X) verse, I've seen the greatest analysis from this doctor.
It appears that under Richard Teng, Binance is having much difficulty in maintaining their good relations with some regulators in certain jurisdictions. This might be the beginning of Binance's fall from dominance, however, the skeptical me thinks that the regulators from the Philippines and Nigeria also want to receive billions of dollars very much similar to how the DOJ in America received $4 billion from CZ hehhehe.
My short conclusion is that Richard Teng is still unable to overcome problems related to operating permits in more than one country.Binance, which is a large and well-known platform, should have a new CEO think of a way out so that the problem of operating permits in several countries must be resolved so that Binance in these countries can operate normally without problems being kicked out.
I don't want to hide what I think if this continues to happen in every country that people will start switching to other exchanges. This is also the beginning of the decline of Binance's dominance.
I very much agree on the speculation that this might be the beginning of Binance's decline. However, on the argument that it might not be safe to keep your funds in Binance, I disagree. Binance might presently be the safest exchange to hold funds because all of the regulators have placed them under a regulatory microscope hehehe.
@tabas. How long is CZ's prison sentence?
This is CZ's reply hehehehehehee.
It appears that under Richard Teng, Binance is having much difficulty in maintaining their good relations with some regulators in certain jurisdictions. This might be the beginning of Binance's fall from dominance, however, the skeptical me thinks that the regulators from the Philippines and Nigeria also want to receive billions of dollars very much similar to how the DOJ in America received $4 billion from CZ hehhehe.
It won't be surprising if we start to see the fall of it and if there will be some changes in leadership after CZ gets out of prison.Also, CZ's sentence will be on April 30.
And the verdict comes, instead of being in jail-time for 36 months. The decision has came down recently and it's just going to be 4 months of being in prison. Well, he's gonna be the richest prisoner there. I wonder if this has something to do with him and as well collaborated effect with the opening markets of Bitcoin ETF in Hong Kong.Source: Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
It appears that under Richard Teng, Binance is having much difficulty in maintaining their good relations with some regulators in certain jurisdictions. This might be the beginning of Binance's fall from dominance, however, the skeptical me thinks that the regulators from the Philippines and Nigeria also want to receive billions of dollars very much similar to how the DOJ in America received $4 billion from CZ hehhehe.
My short conclusion is that Richard Teng is still unable to overcome problems related to operating permits in more than one country.Binance, which is a large and well-known platform, should have a new CEO think of a way out so that the problem of operating permits in several countries must be resolved so that Binance in these countries can operate normally without problems being kicked out.
I don't want to hide what I think if this continues to happen in every country that people will start switching to other exchanges. This is also the beginning of the decline of Binance's dominance.
It appears that under Richard Teng, Binance is having much difficulty in maintaining their good relations with some regulators in certain jurisdictions. This might be the beginning of Binance's fall from dominance, however, the skeptical me thinks that the regulators from the Philippines and Nigeria also want to receive billions of dollars very much similar to how the DOJ in America received $4 billion from CZ hehhehe.
Also, CZ's sentence will be on April 30.
When Binance co-founder and CEO Changpeng Zhao resigned in disgrace in November, his successor Richard Teng pledged a new era was dawning for the world’s largest cryptocurrency exchange.
Disregarding regulation was out. And compliance was in.
With Zhao, 47, set to be sentenced on April 30 for violating US banking law, delivering on that promise is proving to be problematic.
Throughout its seven-year history, regulators around the world have steadily faulted Binance for operating in their markets without the necessary licences.
In March, officials in the Philippines blocked Binance after the exchange failed to get licenced following months of warnings. Now authorities are going so far as to work with Apple and Google to remove Binance from their app stores.
Meanwhile, Nigeria’s anti-corruption agency has charged Binance with money laundering and tax evasion. The efforts are part of a wide-ranging investigation into allegations the company is facilitating illicit financial transactions on its platform.
Nigerian authorities have also charged two Binance executives with the same allegations, and one, Tigran Gambaryan, has been detained for almost nine weeks pending bail and a trial.
Source https://www.dlnews.com/articles/people-culture/cz-faces-sentencing-as-binance-ceo-richard-teng-struggles/
Also, CZ's sentence will be on April 30.
When Binance co-founder and CEO Changpeng Zhao resigned in disgrace in November, his successor Richard Teng pledged a new era was dawning for the world’s largest cryptocurrency exchange.
Disregarding regulation was out. And compliance was in.
With Zhao, 47, set to be sentenced on April 30 for violating US banking law, delivering on that promise is proving to be problematic.
Throughout its seven-year history, regulators around the world have steadily faulted Binance for operating in their markets without the necessary licences.
In March, officials in the Philippines blocked Binance after the exchange failed to get licenced following months of warnings. Now authorities are going so far as to work with Apple and Google to remove Binance from their app stores.
Meanwhile, Nigeria’s anti-corruption agency has charged Binance with money laundering and tax evasion. The efforts are part of a wide-ranging investigation into allegations the company is facilitating illicit financial transactions on its platform.
Nigerian authorities have also charged two Binance executives with the same allegations, and one, Tigran Gambaryan, has been detained for almost nine weeks pending bail and a trial.
Source https://www.dlnews.com/articles/people-culture/cz-faces-sentencing-as-binance-ceo-richard-teng-struggles/
Yes, we can argue that he did this for more profit. Binance is a business but what it also did was not bow down to regulators easily.
I have no problems with him wanting to make money (don't we all), but I don't think that he can be seen as some sort of "protector of anonymity and privacy" since he had to sacrifice that and make many compromises in order to expand his business. Regarding not bowing down to regulators easily, he even boasted that in his response to CFTC that "Binance.com is the first global (non-US) exchange to implement a mandatory KYC program, and remains today to have one of the highest standards in KYC and AML" so I don't think that's true.
No, I am not arguing that he is a protector of anonymity and privacy. What I am arguing about is for whatever CZ's reasons are, whether profit or protection of illegal activities through the exchange, he did not bow down immediately and he made it difficult for the regulators to force their demands on him and his business.
I speculate that it might be his friends and the other close executives who were loyal to him that might have influenced him to accept the deal with the DOJ to save Binance.
On boasting about mandatory KYC. This is marketing to make it appear safe for the users, I reckon hehehehe. Do you know how Binance became the no.1 exchange in the world? This was during forced KYC from the American regulators. Bittrex was no.1 then implemented KYC. Their users left and who was there to accept them without KYC? Binance.
Binance did not implement KYC until it was impossible for them.
Yes, we can argue that he did this for more profit. Binance is a business but what it also did was not bow down to regulators easily.
I have no problems with him wanting to make money (don't we all), but I don't think that he can be seen as some sort of "protector of anonymity and privacy" since he had to sacrifice that and make many compromises in order to expand his business. Regarding not bowing down to regulators easily, he even boasted that in his response to CFTC that "Binance.com is the first global (non-US) exchange to implement a mandatory KYC program, and remains today to have one of the highest standards in KYC and AML" so I don't think that's true.
I recently heard that Monero was delisted from Binance. This is the effect after CZ agreed to the deal the DOJ was offering him. He has bowed to them and Binance is presently under their control.
He already delisted Monero in other countries (for example Australia) before this latest news so this is not a new thing and I don't think that it has anything to do with the deal. He was protecting the freedom to use his exchange and also protecting anonymity and privacy.
I think he likes profit way more than he likes protecting anonymity and privacy because if he wasn't, he still woulnd't have mandatory KYC.
However, I reckon Binance.com would never have bowed similar to it has after CZ's retirement as CEO. Binance.com was one of the last of the big exchanges to continue on the acceptance of Monero and when Binance.com delisted this, others will certainly follow.
Yes, we can argue that he did this for more profit. Binance is a business but what it also did was not bow down to regulators easily.
On mandatory KYC, this is not negotible. It is a compliance nightmare that much of these exchanges of size will need to do unless they want to be the size of Tradeogre hehehehe.
I recently heard that Monero was delisted from Binance. This is the effect after CZ agreed to the deal the DOJ was offering him. He has bowed to them and Binance is presently under their control.
It will be delisted on 20 February 2024. btw there is an informational message on the trading page that says that Monero has a higher volatility or risk ratio than other tokens.Opposite to many arguments, CZ was not protecting criminals using his exchange. He was protecting the freedom to use his exchange and also protecting anonymity and privacy. If the government can force Binance to delist Monero, it can also force many exchanges to delist this. On 2030 the only centralized exchange that might be accepting Monero will be only Tradeogre.
There is some truth in your statement but CZ was not protecting your anonymity or privacy. CZ allowed everything and tried his best to provide service with everyone, even with the ones who are prohibited to use it because CZ wanted to bring as much money as possible to Binance and his pocket. He was a money seeker, the freedom of using his exchange automatically came as the result of his dirty games for generating profit. That's good and bad at the same time. I recently heard that Monero was delisted from Binance. This is the effect after CZ agreed to the deal the DOJ was offering him. He has bowed to them and Binance is presently under their control.
He already delisted Monero in other countries (for example Australia) before this latest news so this is not a new thing and I don't think that it has anything to do with the deal. He was protecting the freedom to use his exchange and also protecting anonymity and privacy.
I think he likes profit way more than he likes protecting anonymity and privacy because if he wasn't, he still woulnd't have mandatory KYC.
I recently heard that Monero was delisted from Binance. This is the effect after CZ agreed to the deal the DOJ was offering him. He has bowed to them and Binance is presently under their control.
Opposite to many arguments, CZ was not protecting criminals using his exchange. He was protecting the freedom to use his exchange and also protecting anonymity and privacy. If the government can force Binance to delist Monero, it can also force many exchanges to delist this. On 2030 the only centralized exchange that might be accepting Monero will be only Tradeogre.
Opposite to many arguments, CZ was not protecting criminals using his exchange. He was protecting the freedom to use his exchange and also protecting anonymity and privacy. If the government can force Binance to delist Monero, it can also force many exchanges to delist this. On 2030 the only centralized exchange that might be accepting Monero will be only Tradeogre.
News update.
It appears that despite CZ's departure from Binance and the charges against him, Binance appears to have never bitten the dust hehehe. This article has reported that net inflows have exceeded the other exchanges in the cryptspace.
This is head shaking because does this imply that moneylaundering through Binance was not as big as speculated?
Crypto exchange Binance — which pleaded guilty to US criminal charges and saw former CEO Changpeng Zhao step down as part of a $4.3 billion settlement — has experienced a trading revival, according to data from DefiLlama.
Since the exchange’s November 21 admission to the Department of Justice of money laundering and evading sanctions and Zhao’s exit, it has seen net inflows of $4.6 billion, far exceeding rivals OKX, Bybit, and Kraken, Bloomberg first reported.
Source https://www.dlnews.com/articles/snapshot/binance-inflows-have-surged-since-november-guilty-plea/
It appears that despite CZ's departure from Binance and the charges against him, Binance appears to have never bitten the dust hehehe. This article has reported that net inflows have exceeded the other exchanges in the cryptspace.
This is head shaking because does this imply that moneylaundering through Binance was not as big as speculated?
Crypto exchange Binance — which pleaded guilty to US criminal charges and saw former CEO Changpeng Zhao step down as part of a $4.3 billion settlement — has experienced a trading revival, according to data from DefiLlama.
Since the exchange’s November 21 admission to the Department of Justice of money laundering and evading sanctions and Zhao’s exit, it has seen net inflows of $4.6 billion, far exceeding rivals OKX, Bybit, and Kraken, Bloomberg first reported.
Source https://www.dlnews.com/articles/snapshot/binance-inflows-have-surged-since-november-guilty-plea/
They cannot print more BNB.
Why not? Who is going to stop them? They have complete control over the entire BNB network and can do literally anything they like with it, from printing a billion out of thin air to simply shutting the whole thing down with zero warning. This token has a deflation mechanisms created through buy and burn every quarter until 100 million tokens are left.
Only as long as Binance keep their promise to keep doing this.Agreed that Binance smartchain is centralized. I was only talking about how presently the rules are implemented on their network. Also, it can argued that it might be difficult to change to change these rules to make them issue more tokens and milk the cow. This would cause a failure of trust and certainly a big dump from their community of users and developers.
Sorry out of topic it is just me or your username is changing bro 
I heard the news from the watcher guru.
Binance is also blocked here in Indonesia so the user from my country should use the VPN to access it or use other domain that provide by binance and it called binance.me but they year ago make an acquisition tokocrypto exchange that has licensed
In other news, more problems for Binance as Phillipines SEC decided to start thge process of blocking their citizens from accessing the site as they don't have the licenses needed.
The Philippines' Securities and Exchange Commission has begun the process of blocking access to the world's largest crypto exchange Binance, whose chief last week stepped down and pleaded guilty to breaking U.S. anti-money laundering laws.
The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities.
The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange.
The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities.
The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange.
I heard the news from the watcher guru.
Binance is also blocked here in Indonesia so the user from my country should use the VPN to access it or use other domain that provide by binance and it called binance.me but they year ago make an acquisition tokocrypto exchange that has licensed
Those three fools that are suing him probably bought his NFTs and now that price (presumably) went down, they are trying to find a way to get their money back. Good luck with that.
Yep, it's quite unlikely that the NFT investors will ever see their funds again. But seriously, if you burn your money in a random Binance CR7 NFT collection, you shouldn't be surprised that the money is lost in the end.
On the other hand such news are of course a huge problem for Binance. Due to regulatory pressure around the globe, news like these are of course worth another "bad" headline for the media.
And I mean it's been a long time since there were any "good" news on Binance. With their EEA crypto credit card program ending in December there is basically no reason to use Binance's service anymore. That's why I've stopped using their exchange service quite a while ago already.
Now they're going after Cristiano Ronaldo for promoting Binance and his NFT collection on Binance in the past. IMHO, that was only a matter of time.
Those three fools that are suing him probably bought his NFTs and now that price (presumably) went down, they are trying to find a way to get their money back. Good luck with that. In other news, more problems for Binance as Phillipines SEC decided to start thge process of blocking their citizens from accessing the site as they don't have the licenses needed.
The Philippines' Securities and Exchange Commission has begun the process of blocking access to the world's largest crypto exchange Binance, whose chief last week stepped down and pleaded guilty to breaking U.S. anti-money laundering laws.
The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities.
The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange.
The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities.
The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange.
Now they're going after Cristiano Ronaldo for promoting Binance and his NFT collection on Binance in the past. IMHO, that was only a matter of time.
Source: https://twitter.com/WatcherGuru/status/1729758677647724947
Looks like promoting worthless NFTs on Binance wasn't CR7s smartest idea.
More information here: Cristiano Ronaldo sued for promoting Binance, unregistered securities
Source: https://twitter.com/WatcherGuru/status/1729758677647724947
Quote
Pro-soccer star Cristiano Ronaldo has been hit with a proposed class-action lawsuit from plaintiffs claiming they suffered losses from his promotion of the now-legally embroiled crypto exchange Binance.
A Nov. 27 filing to a United States district court in Florida claimed Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance.”
Binance entered a multiyear partnership with Ronaldo in mid-2022 to promote a series of his own nonfungible tokens (NFTs), with at least three of the soccer star’s collections tied to Binance.
A Nov. 27 filing to a United States district court in Florida claimed Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance.”
Binance entered a multiyear partnership with Ronaldo in mid-2022 to promote a series of his own nonfungible tokens (NFTs), with at least three of the soccer star’s collections tied to Binance.
Looks like promoting worthless NFTs on Binance wasn't CR7s smartest idea.
More information here: Cristiano Ronaldo sued for promoting Binance, unregistered securities
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