Topic: Largest crypto exchange CEO arrested! Anyone getting deja vu? - page 2. (Read 803 times)

I don't know why but I can feel that there will be a short term dump that will take place very soon and if that happens then we won't be able to see Bitcoin going to $50k levels before 2024. CZ, isn't arrested yet and I'm pretty sure that guy won't be arrested because he has enough money to avoid such arrests and have a better settlement with the US government.

There can be huge sell pressure on BNB coin and that may be the cause of another dump. Many of the BNB holders may develop a fake belief that Binance will have a similar fate like FTX and the investors will have to lose money like they have lost during the FTX fraud. The selling pressure can get way higher if something like that takes place.

that's a good theory. there must be some reason people wanted to use binance.COM rather than binance.US (legally). it's because .US sucked i guess. limited offerings. no staking maybe? i'm not sure. but i know they sucked. i think the customer service probably was bad too. although i never tried emailing them or whatnot. but AFAI am concerned if i can't call them on the phone then they suck.

they probably could but they would have to disable certain features on the platform for US customers like staking maybe? i guess they thought it was simpler to just make a stupid little website for Americans...trimmed down in functionality so that they couldn't hurt themself.

True binance.com hasn't served US customers for like 4 or 5 years now. But I've always heard if you just have a VPN you can get around that. Always sounded like Binance was following the letter of the law but didn't mind if US citizens found a way to get around that restriction. So I'm guessing the US govt is gonna make Binance take additional information or something from people to prove their identity so just using a VPN or something won't work. Thus kicking all US citizens off for good.

I'm not clear on why exactly binance.com can't operate in the US. Is something they do like totally against US finance rules?

Hopefully crypto exchange CEOs will start getting the message that they need to not do illegal stuff lol. it's not worth doing illegal stuff in order to make a bit more money. If you're a centralized exchange ya gotta follow all the KYC and AML rules and follow the restrictions certain countries place on their citizens using certain exchanges. Just not worth it to do illegal stuff for money cuz eventually you get caught.


And for the industry I think this is actually a good thing if it helps spread out the exchange market a bit more so Binance doesn't dominate it as much. Hopefully some people are pulling out of Binance to use other exchanges. While at the same time hopefully this means Binance will be operating in line with the law from here on out, helping to protect the industry from future reputational stains like this.



Market-wise, I'd say its a good thing that this, plus news of the SEC suing Kraken hitting the same day, only made the market crash for a day and then the very next day it was all the way back up lol. Two major negative legal crypto exchange things in one day and like a day later the market is back up to where it was before. It's like great we got that out of the way and it only had basically a 24 hour effect on the Bitcoin market. Good signs for the market to start moving up again soon.

that's what's so confusing. binance.COM stopped serving USA customers YEARS ago if my memory serves me correctly. then they came up with binance.US shortly thereafter but it was a watered down version of the .COM site.


you're right. but then whoever the senior official that said this they was just blowing smoke up everybody's ass.

"We're not just going after the egregious conduct … but we're also … getting Binance out of the U.S. entirely."

they should be. because binance.COM hasn't been serving USA customers for YEARS anyway. and we all know binance.US and binance.COM are from the same company. so this story is a bunch of baloney. it's just about a money grab on the government's part with no real new actions.

binance.COM has to exit servicing US customers

binance.us will be allowed to continue to operate with US customers

it even says it in your own coindesk link

binance.com is under probation (monitoring)

binance.US has not been charged, not plead, nor sentenced. binance.us is not in trouble

Richard Teng is the former Global Regional Director. He is perfect enough for the new CEO position. Richard Teng as the new CEO assured every user that the Binance platform and tokens will not suffer any harm. I think the platform will do very well come new CO though there is a temporary market dumping but this dumping will not last long and the market will recover very soon. Many people are tensed because the new CEO may cause some damage to the market but I am completely tension free.

We might literally get into the bull run now as we get the indications, arrest of CZ, etfs, halving and so on.
Who's next? I don't know but who's the loudest on the market recently? I haven't seen someone done that. It's always CZ that takes the spotlight.
Paying the fine, getting arrested and then getting out of the US market. Pheew.

For me, this was just a coincidence. What I am worried about this time is the FUD. Just like when the CEO of Binance announced that the company stepped down, the market felt it, we saw a small dump in the entire market, not only their token BNB but also Bitcoin. But after that, we did pull back.
Me, I agree with what happened with BITMEX's CEO before. But the bull run thing, it's not because of these CEOs stepping down.

Frankly it looks to me like the USA is backing coinbase and allowed this attack.

I don't understand why CZ went into the US in the first place it was very likely going to be this way.

What I don't like is Coinbase may end up being the only exchange for USA citizens.

And topped with F2Pool dropping US banned tx in mined blocks the US is flexing some serious muscle here.


https://www.coindesk.com/tech/2023/11/22/bitcoins-anti-censorship-ethos-surfaces-after-mining-pool-f2pool-acknowledges-filter/


Now combine both and it looks like USA is going for the lockdown and control of BTC.

I wonder if they go after private wallets and addresses next?

not anymore.

Binance to Make 'Complete Exit' From U.S., Pay Billions to FinCEN, OFAC on Top of DOJ Settlement
https://www.coindesk.com/policy/2023/11/21/binance-to-make-complete-exit-from-us-pay-billions-to-fincen-ofac-on-top-of-doj-settlement/

Treasury Secretary Janet Yellen said that Tuesday's action was the largest settlement in the department's history.
"I want to make sure that folks really understand how unprecedented this monitorship is," a senior official told reporters earlier on Tuesday. "We're not just going after the egregious conduct … but we're also … getting Binance out of the U.S. entirely."

binance.us is still online though right now just goes to show how binance doesn't really take things too seriously. if they had any sense they would have an announcement on the very front page saying "DON'T CREATE A NEW ACCOUNT WE'RE CLOSING DOWN!". irresponsible behavior towards their us customers...

He is just a big name in the crypto space, and such news can just add a little effect on the price of coins, which could be as a result of people making large withdrawals from the exchange to play safe and some panic sellers.

The only coins you should be worried about, if need be, should be BNB and TWT (trust wallet token), which are the two major coins or tokens owned by the exchange. For crypto at large, it will definitely survive.

Any source link to this?
I know the exchange is a big one and there is a lot of revenue from it, but 20 billion annually in revenue is really a big amount, and I doubt they make up to such an amount legally on a year basis.

Well, i've heard some good point considering that in fact this happened to prepare the world for the institutions on BTC.

Until they (Blackrock, JP, Fidelity) clean all the exchanges and risks of FUD, they are not going to put money on that and convince their customers to put their savings on it, so they have to make this business more formal and controllable. For me it seems a good point, and reasonable.

Pump it

Welp. This is just disappointing, to think that I was adamant about protecting and believing that he's the last stand against the CEX hate last year, what an eye-opening disappointment. Although is Binance directly involved in this money laundering business, or is binance only fined cause CZ was the CEO at the moment they made these vile things? Anybody willing to shed the light on me in this one? So, apparently the hate that the SEC is sending towards CEXs aren't necessarily unwarranted, they probably do have some sort of monkey business going on, either involving the business itself, or the founder of said business only. This sucks, cause this would practically mean that millions of people who are into crypto's gonna get into a massive culture shock.

I think we are missing out on something which has taken place between CZ and SEC, because I am not in shock because he has charged but rather for the fact he has accepted the crime and it's such a crime which will tarnish his image which he has created all these years. I feel there is some sort of deal which has not come to light, may be between CZ and SEC because we usually don't see any CEO accepting charges against them. Let's wait and see how the story unfolds and if this will have any impact on crypto prices? No it won't but rather on BNB but he stepped down from Binance hence it's saved as well.

I wish the history looks similar so that we can all forget the little correction bitcoin price and the market already did since yesterday.

Binance is just a crypto exchange, its business mistake should not affect the general bitcoin or crypto world since there are other exchanges that have failed in the past and others are still in existence; and even the Binance is still in operation. They should pay the agree fee for charges, face the little penalty they will be given and we move on.

I never expect Binance with their reputation to violate any rule financially because they are one of the leading crypto exchanges. They are showing people that they are not also clean for people to trust them with their money.

CZ pleaded guilty and paid a $50 million fine. And he resigned as CEO of Binance, the world's largest exchange. His mental activity had some effect on BNB but it is trying to recover on me. However, it is doubtful how much the new CEO will be able to sustain Binance. So these can have a big negative effect on BNB. Although it will recover later. But a negative effect may be seen for a temporary period. CZ was a worthy man at Binance but many are worried about how well the current new CEO can manage Binance

You are right but CZ might be released from custody if he pays 190+ million dollars in the upcoming days till the 27 of November and to be honest, I am seeing everyone saying CZ resigns while none of the officials of Binance, or the law enforcers mentioned the term "resign" or maybe they did and I am not aware of it but, after reading the plea pdf I can say this is a contract base fine everything is set up and Binance will come under CZ's control again.

As they said, CZ will not deal in any of the activities directly or indirectly related to Binance for 3 years, so after 3 years, CZ will be free or what? that only time traveler can tell but for now media created fud and many whales took benefit of it. Many even said Binance is going to be the next FTX but I say this prevents it from becoming one.

But the laws and regs are fucking nuts in the US. I have bookcases filled with tax books from my accounting days. I just think he was a bit greedy to think he could get away with binance.us.

I think they will leave the us and coinbase will be it. leaving a true choke point for cash to coin to cash here in the USA

Yea. I am sensing that too. In my opinion, I think CZ sacrificed his position for the bull run.
The whole game play is to get CZ out of the way, because there's no way blackrock ETF was going to be approved with CZ in the helms of affairs at binance, but now that he has stepped down to face criminal charges, the ETF is going to be approved.

But let's keep our fingers crossed and see as this pans out.