Crypto Market Manipulation by CZ? - 2.6B in Outflows W/ Audio Analysis from Paul Barron 💔
Is Binance basically trading against all of their users?
There was clear documentation of Binance's intent to evade the law, said U.S. Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam in a CNBC appearance on Tuesday. The CFTC on Monday sued Binance and CEO Changpeng Zhao, alleging they knowingly offered unregistered crypto derivatives products. The regulator is charging the exchange and its founder with allegedly violating laws against offering futures transactions, failing to register as a futures commissions merchant and poorly supervising operations, among other things.
PBN Research
CFTC Charges Binance
https://www.cftc.gov/PressRoom/PressReleases/8680-23
The complaint charges that Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited (together, Binance) operate the Binance centralized digital asset trading platform along with numerous other corporate vehicles through an intentionally opaque common enterprise, with Zhao at the helm as Binance’s owner and chief executive officer. The defendants allegedly chose to knowingly disregard applicable provisions of the CEA while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit.
CZ Responds to Attacks
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US Regulators are Weaponizing Banking
A February tweet from Castle Island Ventures Partner Nic Carter first tipped off the community of a coordinated attack on the crypto industry.
“It is a well-coordinated effort to marginalize the industry and cut off its connectivity to the banking system – and it’s working.”
Former Coinbase CTO Balaji Srinivasan said Cooper & Kirk’s paper is strong evidence that Carter was right all along. However, he believes the intended consequences of the attack will be repelled.
“Hard to deny now that there is a coordinated assault on Bitcoin. But freedom will push back, at national and state level.“
#binance #bitcoin #crypto