https://www.spglobal.com/ratings/en/research/articles/240423-your-three-minutes-in-digital-assets-new-rules-could-boost-u-s-stablecoin-adoption-13083275
"Regulatory clarity should encourage banks into the stablecoin market. Assuming the bill is approved, and that relevant banking regulation follows, the new rules may offer banks a competitive advantage by limiting institutions without a banking license to a maximum issuance of $10 billion. The bill is unlikely to significantly affect stablecoins already regulated by the New York Department of Financial Services (NYDFS), including PayPal USD, Gemini USD, and Paxos USD, as they are well-below the $10 billion threshold and because it is otherwise broadly consistent with NYDFS guidance."
Topic: Tether Cryptocurrency Becoming ‘Preferred Choice’ Among Money Launderers (Read 879 times)
May 01, 2024, 07:13:49 AM
April 03, 2024, 05:33:31 AM
The old story continues..
https://www.bloomberg.com/news/articles/2024-03-27/tether-usdt-is-most-used-stablecoin-in-illicit-crypto-flows-trm-says
"Tether Is the Most Used Stablecoin in Illicit Crypto Flows, TRM Says
About 1.6% of Tether volume linked to illicit activity in 2023
Sanctions cut the value of criminal transactions using Tether"
https://www.msn.com/en-us/money/markets/tether-and-tron-continue-to-dominate-criminal-financing-as-overall-illicit-funding-decreases-according-to-new-trm-labs-report/ar-BB1kDcub
"Tether and Tron continue to dominate criminal financing as overall illicit funding decreases, according to new TRM Labs Report"
https://www.bloomberg.com/news/articles/2024-03-27/tether-usdt-is-most-used-stablecoin-in-illicit-crypto-flows-trm-says
"Tether Is the Most Used Stablecoin in Illicit Crypto Flows, TRM Says
About 1.6% of Tether volume linked to illicit activity in 2023
Sanctions cut the value of criminal transactions using Tether"
https://www.msn.com/en-us/money/markets/tether-and-tron-continue-to-dominate-criminal-financing-as-overall-illicit-funding-decreases-according-to-new-trm-labs-report/ar-BB1kDcub
"Tether and Tron continue to dominate criminal financing as overall illicit funding decreases, according to new TRM Labs Report"
March 20, 2024, 04:32:07 AM
bbc.peпopтep, my theory on this issue is conspiracy theoretic. Sam Bankman-Fried had political connections in the USA, CZ is the main partner who helped develop the project, most likely in contact with politicians from the USA.
The official reason is clear to everyone, but the real reason in my opinion was that CZ realized that Sam Bankman-Fried was playing an even more dangerous game than Binance.
The official reason is clear to everyone, but the real reason in my opinion was that CZ realized that Sam Bankman-Fried was playing an even more dangerous game than Binance.
March 18, 2024, 09:18:06 PM
@zasad@. If CZ helped or did not help Sam Bankman Fried create FTX, this does not change the argument that CZ does not have political connections in America.
On FTX, CZ was an early investor in the exchange, however, on 2021 Sam bought back the shares and this ended their relationship. This was also when Binance was being asked many questions from different regulators around the world including the SEC.
Binance, the world’s largest crypto exchange by volume, was an early investor in crypto exchange FTX, which 29-year-old Sam Bankman-Fried founded in 2019. This week, the investment relationship suddenly ended. In an extensive interview with Decrypt, Bankman-Fried discussed why.
“We recently repurchased shares from Binance to buy them out of our cap table,” Bankman-Fried said. “I think it just makes sense given the role that our businesses are playing in the space. It can also give us more flexibility going forward.”
On Tuesday, FTX announced a $900 million raise from 60 high-profile investors including Sequoia, Paradigm, Softbank, Paul Tudor Jones, and NFL quarterback Tom Brady and supermodel Gisele Bündchen. It was the largest ever funding round for a crypto exchange, valuing FTX at a cool $18 billion.
Source https://decrypt.co/76584/ftx-ceo-sam-bankman-fried-why-bought-out-binance-investment-shares-exit
I predicted FTX to be the Binance killer, however, it appears that CZ killed FTX hehehehe.
On FTX, CZ was an early investor in the exchange, however, on 2021 Sam bought back the shares and this ended their relationship. This was also when Binance was being asked many questions from different regulators around the world including the SEC.
Binance, the world’s largest crypto exchange by volume, was an early investor in crypto exchange FTX, which 29-year-old Sam Bankman-Fried founded in 2019. This week, the investment relationship suddenly ended. In an extensive interview with Decrypt, Bankman-Fried discussed why.
“We recently repurchased shares from Binance to buy them out of our cap table,” Bankman-Fried said. “I think it just makes sense given the role that our businesses are playing in the space. It can also give us more flexibility going forward.”
On Tuesday, FTX announced a $900 million raise from 60 high-profile investors including Sequoia, Paradigm, Softbank, Paul Tudor Jones, and NFL quarterback Tom Brady and supermodel Gisele Bündchen. It was the largest ever funding round for a crypto exchange, valuing FTX at a cool $18 billion.
Source https://decrypt.co/76584/ftx-ceo-sam-bankman-fried-why-bought-out-binance-investment-shares-exit
I predicted FTX to be the Binance killer, however, it appears that CZ killed FTX hehehehe.
March 16, 2024, 07:59:10 AM
@zasad@. Did what? Dump FTT on everyone's heads with mouths open to kill FTX? This is a survival tactic. CZ needed to kill FTX before it can kill Binance because Sam was beginning to use his political connections and he was also talking to regulators already.
Pay the US treasury department $4 billion? This is a very expensive settlement with uncertain conditions. If CZ had political connections in America this would only be a slap on the wrist.
Pay the US treasury department $4 billion? This is a very expensive settlement with uncertain conditions. If CZ had political connections in America this would only be a slap on the wrist.
My conspiracy theory is that CZ helped create the FTX exchange in the US. It was thanks to CZ's experience and his help that this exchange very quickly became famous in the USA.
In the United States, there is a big struggle among the political establishment before the new presidential elections, so no one needs unnecessary scandals.
March 15, 2024, 08:32:31 PM
@zasad@. Did what? Dump FTT on everyone's heads with mouths open to kill FTX? This is a survival tactic. CZ needed to kill FTX before it can kill Binance because Sam was beginning to use his political connections and he was also talking to regulators already.
Pay the US treasury department $4 billion? This is a very expensive settlement with uncertain conditions. If CZ had political connections in America this would only be a slap on the wrist.
Pay the US treasury department $4 billion? This is a very expensive settlement with uncertain conditions. If CZ had political connections in America this would only be a slap on the wrist.
March 15, 2024, 02:42:18 AM
@zasad@. I disagree. SBF had a settlement with the American government and paid $4 billion and yet he cannot get out of the country because he is a flight risk? If he had proper connections he would remain to be the CEO of Binance. Also, dumping of FTT might be CZ's tactic to kill FTX. If he did not do this, FTX would continue becoming bigger and Sam with his political connections would become more powerful.
If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
I don’t believe the rumors and there are a lot of victims in the SBF case, so even if he is released from prison under house arrest, he will still spend many years in the courts.If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
CZ is as cunning as SBF and he realized what SBF and his team were doing and decided to kill two birds with one stone.
Why did yu change the quote from CZ to SBF? I said it was CZ who paid the American government $4 billion to settle his case, however, after settlement it does not appear to be settled hehehe. CZ's passport was confiscated and he has a sentencing to attend. This is a person who clearly does not have any political connections under the American jurisdiction.
In any case, I agree that CZ needed to dump FTT to kill FTX. If he did not do this, Sam would become more powerful and he would have certainly killed Binance using his exchange as competition and his political connections. According to the latest articles it appears that the FTX estate can pay all of the creditors in full which implies that FTX's problems were only liquidity and cashflow problems.
You say that CZ went to the USA without political connections, but why do you think he did it? Is he really relying on luck?
It’s not just American politicians who are manage peace, and before CZ’s trip to the USA, I heard that Chinese politicians had solved this problem with their American partners. (conspiracy theory)
The verdict will be handed down on April 30, and I think that the decision will be lenient.
I also heard that FTX can pay off debts, but there is a big question at what asset prices this debt will be repaid, and the case with FTX will not be closed in 1 year
March 14, 2024, 11:49:19 PM
@zasad@. I disagree. SBF had a settlement with the American government and paid $4 billion and yet he cannot get out of the country because he is a flight risk? If he had proper connections he would remain to be the CEO of Binance. Also, dumping of FTT might be CZ's tactic to kill FTX. If he did not do this, FTX would continue becoming bigger and Sam with his political connections would become more powerful.
If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
I don’t believe the rumors and there are a lot of victims in the SBF case, so even if he is released from prison under house arrest, he will still spend many years in the courts.If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
CZ is as cunning as SBF and he realized what SBF and his team were doing and decided to kill two birds with one stone.
Why did you change the quote from CZ to SBF? I said it was CZ who paid the American government $4 billion to settle his case, however, after settlement it does not appear to be settled hehehe. CZ's passport was confiscated and he has a sentencing to attend. This is a person who clearly does not have any political connections under the American jurisdiction.
In any case, I agree that CZ needed to dump FTT to kill FTX. If he did not do this, Sam would become more powerful and he would have certainly killed Binance using his exchange as competition and his political connections. According to the latest articles it appears that the FTX estate can pay all of the creditors in full which implies that FTX's problems were only liquidity and cashflow problems.
March 14, 2024, 04:57:28 AM
@zasad@. I disagree. CZ had a settlement with the American government and paid $4 billion and yet he cannot get out of the country because he is a flight risk? If he had proper connections he would remain to be the CEO of Binance. Also, dumping of FTT might be CZ's tactic to kill FTX. If he did not do this, FTX would continue becoming bigger and Sam with his political connections would become more powerful.
If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
I don’t believe the rumors and there are a lot of victims in the SBF case, so even if he is released from prison under house arrest, he will still spend many years in the courts.If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
CZ is as cunning as SBF and he realized what SBF and his team were doing and decided to kill two birds with one stone.
March 13, 2024, 08:05:08 PM
@zasad@. I disagree. CZ had a settlement with the American government and paid $4 billion and yet he cannot get out of the country because he is a flight risk? If he had proper connections he would remain to be the CEO of Binance. Also, dumping of FTT might be CZ's tactic to kill FTX. If he did not do this, FTX would continue becoming bigger and Sam with his political connections would become more powerful.
If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.
March 13, 2024, 09:07:13 AM
bbc.peпopтep, CZ turned out to be much smarter that he got rid of FTT and Sam in time.
If CZ gets off with just a fine or gets a short prison sentence in the best US prison, where he will live better than the citizens of this country, then he has the necessary connections.
If CZ gets off with just a fine or gets a short prison sentence in the best US prison, where he will live better than the citizens of this country, then he has the necessary connections.
March 10, 2024, 01:59:13 AM
@zasad@. On CZ's political connections, if he has them, they are not in America. It was Sam Bankman Fried who had the connections with the Democrats because of his donations and her mother who is rumored to be very close to Hillary Clinton.
Also, before the dump of FTT by CZ, Sam was also jeering CZ on social media because he did not any political connections in America. This was when Sam was invited in congress to speak about regulations and the cryptospace. It was also during this time when Sam was bad mouthing CZ in front of the regulators and other government officials.
The Justice Department was investigating his crypto exchange, Binance, for possible money laundering. And he suspected that Sam Bankman-Fried, the cofounder of another crypto exchange, FTX, had been spreading rumors about Binance with US regulators and the media.
“It’s just not a smart thing to do, to bad-mouth anybody. Especially a bigger competitor,” CZ told me recently.
Source https://www.vanityfair.com/news/2023/09/binance-founder-cz-says-sbfs-decision-to-bad-mouth-him-to-us-authorities-was-not-smart
Also, before the dump of FTT by CZ, Sam was also jeering CZ on social media because he did not any political connections in America. This was when Sam was invited in congress to speak about regulations and the cryptospace. It was also during this time when Sam was bad mouthing CZ in front of the regulators and other government officials.
The Justice Department was investigating his crypto exchange, Binance, for possible money laundering. And he suspected that Sam Bankman-Fried, the cofounder of another crypto exchange, FTX, had been spreading rumors about Binance with US regulators and the media.
“It’s just not a smart thing to do, to bad-mouth anybody. Especially a bigger competitor,” CZ told me recently.
Source https://www.vanityfair.com/news/2023/09/binance-founder-cz-says-sbfs-decision-to-bad-mouth-him-to-us-authorities-was-not-smart
March 08, 2024, 02:31:30 AM
bbc.peпopтep,If you look at it very pragmatically, you can steal 10 billion, but only pay a fine of 5 billion. Then you are a successful businessman. Below you will find how to use the remaining money more legally and safely.
CZ has vast invaluable experience and political connections that are very valuable.
CZ has vast invaluable experience and political connections that are very valuable.
March 07, 2024, 10:36:16 PM
@zasad@. Agreed! The dirty laundry also from the side of the banking system in America and how the American government only gave them a slap on the wrist. I speculate that it was only CZ that wanted to fight the case under American jurisdiction, however, his team might have expressed against this decision to save Binance and the cryptospace from another dump. This meme is real hehehehe.
A congressional investigation into the 2016 U.S. presidential election has unearthed evidence that major banks processed $2 trillion in transactions despite suspecting they were connected to illegal activity.
So-called suspicious activity reports, filed by banks with government regulators, indicate the banks were concerned the transactions would help suspected terrorists, drug dealers, corrupt foreign officials and other bad actors move trillions of dollars around the world, as well as perpetuate investment frauds. The private reports, which covered 1999 through 2017, were obtained by BuzzFeed News and shared with the nonprofit International Consortium of Investigative Journalists.
In its report, BuzzFeed said the documents show "how the giants of Western banking move trillions of dollars in suspicious transactions, enriching themselves and their shareholders while facilitating the work of terrorists, kleptocrats and drug kingpins."
Source https://www.cbsnews.com/news/bank-scandal-2020-2-trillion-transaction-suspected-illegal-activity-money-laundering/
Why are the people responsible not in jail like CZ? No political connections in America.
In any case, I reckon if Sam supported CZ with his political connections, CZ would not have caused the liquidity problem within FTX because of CZ's dump of all FTT in Binance's treasury.
I am only assuming that FTX's problem was only a liquidity problem because the creditors of FTX will be paid 100% of their money according to some articles.
A congressional investigation into the 2016 U.S. presidential election has unearthed evidence that major banks processed $2 trillion in transactions despite suspecting they were connected to illegal activity.
So-called suspicious activity reports, filed by banks with government regulators, indicate the banks were concerned the transactions would help suspected terrorists, drug dealers, corrupt foreign officials and other bad actors move trillions of dollars around the world, as well as perpetuate investment frauds. The private reports, which covered 1999 through 2017, were obtained by BuzzFeed News and shared with the nonprofit International Consortium of Investigative Journalists.
In its report, BuzzFeed said the documents show "how the giants of Western banking move trillions of dollars in suspicious transactions, enriching themselves and their shareholders while facilitating the work of terrorists, kleptocrats and drug kingpins."
Source https://www.cbsnews.com/news/bank-scandal-2020-2-trillion-transaction-suspected-illegal-activity-money-laundering/
Why are the people responsible not in jail like CZ? No political connections in America.
In any case, I reckon if Sam supported CZ with his political connections, CZ would not have caused the liquidity problem within FTX because of CZ's dump of all FTT in Binance's treasury.
I am only assuming that FTX's problem was only a liquidity problem because the creditors of FTX will be paid 100% of their money according to some articles.
March 06, 2024, 05:05:02 AM
..snip
Are you really saying this so easily or is it just me?In my opinion, CZ has already paid a very high price and his fate has not yet been decided.
There is no point in putting CZ in jail if he paid a large fine and signed all the agreements with the US government.
I was only speculating and I speculate that CZ's payment in exchange for a short time in prison for some charges but no charges of being a terrorist might have been part of the deal in the settlement. Also, you tell me that I can say this easily, however, you say that the American government would easily make CZ a terrorist without due process. I reckon it would be more difficult for CZ and the government if they went to court for this.
March 04, 2024, 10:42:49 PM
..snip
Are you really saying this so easily or is it just me?In my opinion, CZ has already paid a very high price and his fate has not yet been decided.
There is no point in putting CZ in jail if he paid a large fine and signed all the agreements with the US government.
I was only speculating and I speculate that CZ's payment in exchange for a short time in prison for some charges but no charges of being a terrorist might have been part of the deal in the settlement. Also, you tell me that I can say this easily, however, you say that the American government would easily make CZ a terrorist without due process. I reckon it would be more difficult for CZ and the government if they went to court for this.
March 04, 2024, 07:27:17 AM
..snip
Are you really saying this so easily or is it just me?In my opinion, CZ has already paid a very high price and his fate has not yet been decided.
There is no point in putting CZ in jail if he paid a large fine and signed all the agreements with the US government.
March 02, 2024, 08:37:20 PM
@zasad@. If the information is true and if proven that CZ knows this or if he is directly involved on these occurrences on Binance then he can be sentenced for assisting terrorist groups on moving funds. However, the argument I was making is different. I am arguing more about the stablecoins being illegaly used for crime and terrorism or if an exchange CEO can be charged for terrorism if he has no knowledge of these occurrences.
Will Tether and Circle be complicit if terrorists uses USDT and USDC to move their money? Would it make the issuer of the dollar complicit if they used American dollars? Will Apple be complicit if they used iphones for terrorism?
I have already said that you and I think differently. You are right that in order to charge CZ it will be necessary to prove that he knew that his exchange was being used for illegal purposes.Will Tether and Circle be complicit if terrorists uses USDT and USDC to move their money? Would it make the issuer of the dollar complicit if they used American dollars? Will Apple be complicit if they used iphones for terrorism?
I give a past famous example of SBF and Caroline Ellison
Quote
Caroline Ellison, the 28-year-old star witness in one of the most closely watched fraud trials in US history, took the stand Tuesday to testify against her former business partner and sometimes-boyfriend Sam Bankman-Fried.
https://edition.cnn.com/2023/10/10/business/caroline-ellison-testimony-preview/index.html
Look how quickly concepts are replaced, not a fraudster but a star witness https://edition.cnn.com/2023/10/10/business/caroline-ellison-testimony-preview/index.html
Now back to the harsh reality in which CZ and his team broke a lot of laws. So, for the prosecution, you need to find several weak links in his team, who will become a star witness instead of the accused and will not be prosecuted.
And these star witnesses will tell everything the prosecutors need, including that CZ knew that he was providing services to terrorist organizations.
It appears that we are arguing about different situations. If the American government will use everything in their playbook to make anyone a terrorist, a rapist, a thief or any type of criminal then I agree with the argument.
However, on the present situation on the case against CZ, I reckon it has been settled already. He will pay the American government $4 billion and resign as CEO. His sentence might be a few years in prison without any charges of being a terrorist. This decision has also caused the American government to stop cracking down on Binance.
February 28, 2024, 05:12:56 AM
@zasad@. If the information is true and if proven that CZ knows this or if he is directly involved on these occurrences on Binance then he can be sentenced for assisting terrorist groups on moving funds. However, the argument I was making is different. I am arguing more about the stablecoins being illegaly used for crime and terrorism or if an exchange CEO can be charged for terrorism if he has no knowledge of these occurrences.
Will Tether and Circle be complicit if terrorists uses USDT and USDC to move their money? Would it make the issuer of the dollar complicit if they used American dollars? Will Apple be complicit if they used iphones for terrorism?
I have already said that you and I think differently. You are right that in order to charge CZ it will be necessary to prove that he knew that his exchange was being used for illegal purposes.Will Tether and Circle be complicit if terrorists uses USDT and USDC to move their money? Would it make the issuer of the dollar complicit if they used American dollars? Will Apple be complicit if they used iphones for terrorism?
I give a past famous example of SBF and Caroline Ellison
Quote
Caroline Ellison, the 28-year-old star witness in one of the most closely watched fraud trials in US history, took the stand Tuesday to testify against her former business partner and sometimes-boyfriend Sam Bankman-Fried.
https://edition.cnn.com/2023/10/10/business/caroline-ellison-testimony-preview/index.html
Look how quickly concepts are replaced, not a fraudster but a star witness https://edition.cnn.com/2023/10/10/business/caroline-ellison-testimony-preview/index.html
Now back to the harsh reality in which CZ and his team broke a lot of laws. So, for the prosecution, you need to find several weak links in his team, who will become a star witness instead of the accused and will not be prosecuted.
And these star witnesses will tell everything the prosecutors need, including that CZ knew that he was providing services to terrorist organizations.
February 26, 2024, 10:35:21 PM
@BlackBoss_. Criminals will certainly use all stablecoins with differenent amounts that will depend on liquidity. Why would they take the risk of using only one stablecoin? Unless they are stupid, they should use all the available tokens with high volume and usage to hide their activities.
These comments on criminals will use only Tether is very headshaking and this implies many people have not more strongly thought about this.
These comments on criminals will use only Tether is very headshaking and this implies many people have not more strongly thought about this.
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