"Can barely buy an AK-47 with 600 bucks," a Binance compliance staffer told his boss in 2019, per regulators.

Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::“Can barely buy an AK-47 with 600 bucks,” a Binance compliance staffer told his boss in 2019, per regulators.

  • sv1sjp@lemmy.worldEnglish
    41·
    11 months ago

    Binance has no problem with its clients. FTX literally invested the money of the people in high risk assets, and they ended up bankrupted.

    In the day of the Binance’s trial, people withdraw more than billion of dollars worth Cryptos. Binance didn’t end up bankrupt as they are holding A LOT.

    • shortwavesurfer@monero.townEnglish
      3·
      11 months ago

      Centralization allows for this. If people exchanged crypto peer to peer transaction amounts would be much smaller and no one person or company would have nearly as big of a share as binance. So I will continue to say not your keys, not your coins.

    • JamesNZ@lemmy.worldEnglish
      2·
      11 months ago

      We only know ftx was stealing due to a run on the exchange. Binance could also easily be in the same boat, we just don’t know, as they have not been tested for there liquidity. Also it turns out ftx pretty much had the money, but it just was not liquid.