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Binance CEO Zhao and his COO got sued by CTFC ( commodity futures and trading commission ) , why won't these people just leave this man alone?  >:( also is this why the market is currently crashing? These people mean CZ and I hope this guy will move out of the US for good, those people are just still mad with what he did with FTX, many secrets came to the light and many aren't too happy about it.

Just like you said man It is becuz they are mad. Their mad becuz we're riding cars and flying jets. They jelly man. They can't let us have beautiful girlz and nice cars. They greedy man. They want everything for themselves.

For fucks sake,

LEAVE CHANG ALONE

chang ching pong zzzzzzzzzzzpenggg

Market is due to crash because it has pumped enough, it has to correct and start another leg of chart.
For Cz, he is one of the biggest fishes in the industry so he must always be dragged and his name and the name of his company must always be used to create fud.

As for the news you broadcasted, can you please help and add a link to it?

I don't think the sueing have anything to do with Bitcoin or any other crypto price, if we were to experience any change it could have been on the exchange 2 major coins which is the BNB and it's BUSD.

The Fed's just don't know when to stop, they are trying to drag all the big names to their fud games, with the believe they can bring the crypto industry down if they can win against the big men on crypto... Sueing CZ for violating trading rules.. before the 1hrs + Binance emergency update on their trading and other features on their exchanges.  Have the Fed not seen the trading rules violated?  Why am i having this feeling that the Sec and this sueing might have something to do with the bug which attach Binance few days back. 

Saw the news on cryptopotato I don't know if it's same source with the OP
https://cryptopotato.com/us-cftc-sues-binance-ceo-changpeng-zhao-bitcoin-plunges-by-1400-immediately/

The market crashed a bit when this news popped. But what's good on it is that it had recovered so fast.

The government don't have something to do so, they just track anyone down. But maybe there's also a fault on CZ's part but I'm sure that he'll manage to fix it.

I'm not worried at all since this is just a sue to him and he can counter and do anything to make amend to the filer of it.

People should try and use the forum search engline or any other search engine and include Bitcointalk in it, so that you'd be able to know if a topic has been created or not.

This topic was created over an hour ago before this one: Binance sued by CTFC (https://bitcointalk.org/index.php?topic=5446496.new#new)

more like Binance allowing US citizens to trade futures and derivatives which is sort of illegal as CFTC claims. BTC is not the issue but it can be dragged as we can see the price also dips. CZ will battle with this. there are a lot of winning chances for him.

Somewhere I saw that Binance is covering over 60% of the global Bitcoin trading volume I think, so it is quite normal when there are some not so great news that the price slightly reacts. But often it looks more like a quick test of some weak hands whether the market is going into panic mode and then every single time when we had some bad news these days and weeks, there is strong resistance coming up quite fast. It is not like we are dropping double digit percentage points because CZ is getting sued.

The government is claiming that they violated the control laws of the United States and helped customers bypass these control measures. The market is just responding to the news and I don't also think this news will affect the price of bitcoin that much. This will be a good opportunity for people to move their coins to decentralized wallets. Binance has urged its customers to avoid FUD because everything is under control. The banks are failing the government want to attack the cryptocurrency industry by discrediting it so that investors will be scared. The timing of this suit is a clear indication of the government intentions.

Binance US is sued and for the same the issue won't be that big. Binance global continue its service. CZ will easily come out of the issue and continues their regular way of getting greed a d acquiring other exchanges to stand as the king. For now we've begun to have some FUD and this is temporary from experts view. Lets see what next. Possibly connected to the issue more negative news could roll out. People who are good enough with crypto investment will find it an opportunity to invest.

Oh c'mon this is ridiculous: they're just looking for any pretext to get rid of CZ. I guess this is going to end with Binance eventually pulling out of the US or (hopefully not) a huge fine and Binance going bankrupt. Bitcoin is suffering now because of this FUD but it's going to fade in comparison to what is going to happen if Binance will go bust. Remember Covid dump down to $3k?  :(

I think the reason is clear from my point of view, governments, especially the government of the United States of America, did not find anything about Bitcoin and cryptocurrencies and could not stop them, so the only way for them is to attack large services and famous personalities in Crypto.

By attacking Binance and the CEO they can deal a huge blow to Crypto because Binance and CEO (CZ)  is a crypto giant and if they can bring him down it will surely be like an earthquake with huge negative effects on Crypto.

I am no fan of these regulatory bodies but they're doing their jobs even if they're been lousy on the job. Binance has been targeted a lot lately but they have to be found not guilty of the charges. The charges against them is that they advised their US customers to use VPN there by evading taxes. I was reading about the case few hours ago and it looks like a bunch of bs. The WhatsApp chat they claim to have looks too inconsistent.

The recent lawsuit filed against Binance may have some impact on the cryptocurrency market, but it is difficult to say for sure whether it is the sole reason for the market's recent fluctuations. also important to recognize that legal proceedings are a normal part of the regulatory process, and individuals and companies are expected to comply with applicable laws and regulations

This is happening because of all the mess that FTX created. It’s not only Binance look at how many other large exchanges had similar issues like Kraken or Coinbase.

He donated all that money to politicians and then FTX demanded it back and they are all pissed and pressuring these agencies to go after crypto. Almost every week it’s news like this pretty much

The last time I read was just a fine, and now slapping additional suits means that their offence is grievous. First, the market is not crashing and Binance is not stressed, only that they are lawless. Those guys (CZ and the likes) think they can do as they want in the US just like the global branch with little to no overseeing. Just last week, Binance (global) stopped the withdrawal of all coins, while some lasted for over 24 hours without stating the reason or issuing an apology. How unruly is that?

Nobody means anybody, we should face the reality, and don't think this is a vendetta, it's their job and Binance is not the first and won't be the last. This is why CFTC is the number regulator in the world. They have been seeing and warning Binance for years without a change according to their statement.

It seems this government thinks that if they handle CZ the whole market will crash even more, well they are wrong, people use Binance for trading and that's it, since the beginning of this FUD many traders have withdrew their funds from the Binance exchange, again, no one knows how long this FUD will go on for, but I can't thank them enough for making me see a buying entrance once again.

If CZ gets out of this one I do hope he smartens up and leave, those people in the government don't like him, and he now has many enemies hunting for his head, I guess they are really mad about the FTX case, Sam belongs to a family and they might want to take revenge on CZ.

That's not their intention, but it's just the way of the government to cause a little quirk in China's business. I just feel they will be happy to see the exchange fail so that it will cause discouragement for some people who are trying to believe in the crypto space. Since the fall of FTX, if it happens that Binace also fails, there will be more reason to encourage only P2P.


LOL, some people really get happy to see the market dip, giving them the opportunity to buy the dip, this Tim is in your favor.

It is believed that there are currently three major cartels in the crypto industry that control the majority of crypto transactions. 

These are Binance, Coinbase and Bitfinex (together with the Tether ecosystem).  Accordingly, the destruction of all three cartels will deal a very strong blow to an alternative financial system built on crypto transactions. 

The US government is currently declaring its intention to launch a digital dollar (CBDC) as soon as possible. 

However, the successful implementation of this project may require the elimination of competitors (alternative stablecoins).  It is possible that the current attack on Binance is closely related to plans to introduce a digital dollar.  We recently saw a very similar attack on Coinbase. 

Will the head of Binance be able to negotiate with the bosses from Washington?  Yes, if the claims against Binance are purely fiscal in nature.  Not if the claims against Binance are part of a global game to implement CBDC and eliminate a competitor.

According to the CFTC (USA), Binance has a 'secret' in-house trading desk with 300 accounts, Nothing rules out other US exchange from being investigated, so basically Binance is no different from Bitmex. If Bitmex does or did this, Binance shouldn't be crucified.
https://i.imgur.com/Z5XUUL8.jpg https://i.imgur.com/KVYMKqC.jpg

Secret internal market on Binance cryptocurrency exchange?  

Yes, this is a sensational statement!  

As far as I understand, this is not OTC trading.  

These are secret transactions that affect the price of an asset, but are not fixed by an outside observer.  On the one hand, exchange managers see all the orders of exchange users, on the other hand, they actively trade using their own accounts.  

Meanwhile, the cryptocurrency exchange business is an intermediary business, the cryptocurrency exchange earns profits in the form of commissions.  Users of a cryptocurrency exchange pay for the service of providing a platform for trading with other users.

So in this situation, we can talk about accusing the management of the cryptocurrency exchange of fraudulent activities.

Someone was paid very well to leak a way to bring Binance exchange down, CZ is smarter than letting this leak to the world, but it seems that the accusers have won this one, Kevin freaking O leary, you won this one buddy, happy now? Whatever CZ did has a good cause backing it, this is my own believe.

No need to be worried about such a large centralized exchange owner. He has more than enough money that even if he were to lose in court, he would not even miss the comparably tiny amount of money he would have to pay up as a penalty. Binance can recover that loss within a short amount of time. Worst case scenario, Binance would have to delist a lot of shitcoins that nobody should be buying anyway.

I really do not see neither a positive nor a negative side for Bitcoin in all of this.

I would never trust any centralized service, especially a centralized exchange anyway. CEX's are basically almost always shady business models anyway.

Maybe that could be a reason for the 4% drop in the price of BTC, there is no doubt CZ openly challenge every authority with full swag (confidence) like he is the king of law and regulation over them like he talked about FTX and still challenges Coinbase too whenever he got a chance.

These people will not leave CZ until they do him some harm like they tried to degrade BUSD by declaring it an illegal pegged coin and told CZ and Paxos to stop its minting, back then I covered a small topic on this SEC's crackdown on BUSD after banning the Staking on Kraken  (https://bitcointalk.org/index.php?topic=5439821.msg61761374#msg61761374)

frankly speaking, none of these centralized exchanges care about customers' money at all, like when CZ replied to CTFC on his website (https://www.binance.com/en/blog/from-cz/czs-response-to-the-cftc-complaint-2408916493005890282) he said we are cooperating with them for the past 2 years like this is enough hint for a thoughtful person. These authorities are working together

I think Everyone understands market is always fluctuating and there are many factors that contribute to its performance. I think Binance is a global exchange and not solely based in the US, so the impact of this lawsuit on the market may be limited and the news of a recent Lawsuit filed by the CTFC against Binance CEO CZ and COO seems to be causing concern among investors and traders Although it is currently unclear what the outcome of the lawsuit will be.

They do not like CZ that fact that he owns the biggest crypto exchange and he is not on thier side means he will likely be kidnapped or hostage if he will set foot on US soil. Gensler will grill CZ's balls. Hence the reasons he hides his whereabouts.

They are trying to get the guy, BUSD, and then this derivatives trading which had been happening since the time they already learn for years. So why now?

I don't care too much about who sees how the story unfolds around it, but I see that here sooner or later the truth will come out and we'll know who's right and who's wrong.
We all know these market manipulators have to pay the price for such unethical behavior, there will probably be a big controversy here, but most of all I hope it brings positive things to the world. market, not a restraint.

Somehow they didn't want to let CZ rest. they keep trying to corner the owner of the biggest crypto exchange. fud-fud continues to be spread and makes market conditions unstable and has higher volatility. I don't know what game is behind it all. but I think something like this always influences market conditions with a very strong influence. but CZ seemed to be responding quite casually.

even though this year the Binance fud that led to Binance has happened twice.
First, we must remember that the SEC sued Paxos, which is the issuer of the Binance stablecoin, namely BUSD.
and the second is that currently the CFTC will sue exchange binance regarding the alleged numerous regulatory violations that CZ has been accused of.
I hope this problem can be resolved properly without having to continue at the court of law. because obviously this will have a big impact on the crypto industry.

If the Bitcoin price plummeted to $1400 in a matter of minutes due to a finance breach by CZ, what about the previous crash to $20k from a price of $26k?
I find it hard to understand crypto issues now, demands are continuously being filed against exchange owners. There seems to be another competition behind all of this.
We will wait until the limit of this legal game is over. Because something like this didn't happen a few years ago when crypto was popular.

You can be calm about Binance crushing the price of bitcoin because THEY DONT HOLD 1:1 REAL BITCOIN RESERVES

TAKE YOUR BITCOIN OFF OF BINANCE IMMEDIATELY OR ELSE IT IS NOT YOUR BITCOIN

After reading CZ's response to the case, there's nothing to worry about because their lawsuit is incomplete and not a single lawsuit fulfills the criteria, so we don't need to worry about market conditions because even without that news the market also has the potential for resistance after a significant recovery. we hope the case gets resolved soon as many people are attributing from the effects of the current correction and but actually no FUD news of any kind can bring the market down.

Yes, this could be part of his problem, though the USA doesn't like to play second fiddle to anyone and are used to leading and setting the pace in almost all field, CZ and Binance have been eaten dip into their market share, but I think his greatest sin is his role in bringing down FTX, FTX to me is a front for some powerful people in the USA, I have a feeling this is going to end in fine and we will continue with our life.

What if CZ counter these false allegations by filing them a lawsuit? Because these are damaging the reputation of their company. Many unknowledgeable people can instantly believe and worry about this. Doing this will end the FUDs that they are getting in the future and the market can run in a normal condition at all times.

Yes, the market can also go down without these type of news but it is annoying if the decline that we experience is consistent and it can also make the existing decline worse. There is nothing to be resolved here because you said their complaint is not accurate but like I said earlier CZ shouldn't let them get away just like that because they will have the courage to repeat this thing later on.

In fact, we do not know what the agency really wants behind all these actions. because they might have baited CZ and turned against them. I don't know if it's a provocation or something. but it is clear that there must be something else behind it all. and news like this actually does have an effect on the market. all market related news and the like always make the market more volatile. For example, news about the economy, such as the announcement of an increase in bank interest rates and the like, always influences the market. and so are things like fud and fake news or the like always having an effect. although the effect may not be that great. because there are still many users who are new to crypto and are always affected by every news that is presented. I think regarding CZ he will find the best solution about it.

The business world is cruel, it doesn't look at anyone. As long as there is a will to bring down, they will continue to see the gaps in it and exaggerate it. Of course a lot of people are angry about FTX, a lot of people are losing because of FTX. And they blamed CZ for the base. And they probably want the same thing to happen to Binance and CZ.

the market is still in a bearish condition. so there will still be a lot of FUD scattered. And the market is still volatile of course. just take advantage of any market conditions. Instead of us getting dizzy but still being victims of their game.

Not something new on which these government would really be trying out to divert on whats the current main issue which is on Dollar or simply with that banking crisis which they do see that cryptocurrency is really

getting some noise or attention now.Therefore, it would be no brainer for them on whose the one they would be targeting on for them to have that top exchange crypto platform that we do have today to create some FUD which its not really that shocking anymore.If you are just new here on this market then you would definitely be having that kind of negative reaction on whats currently happening.

The price didnt dip or go down that bad which do simply implies that people or the community isnt really that dumb not to notice on whats their actual plans.

Things could turn around for the greatest from any time from now, China is now fully embracing cryptocurrency, its a good news for everyone, and since CZ is also a Chinese I recommend him to abandon the US and go back home Binance Exchange suits china more than the US, for the fact that China has ban cryptocurrency few times before, this is a bullish news.

I really hope for a counterclaim if their lawsuit is invalid and they only harm Binance's side, There have been many lawsuits for whatever reason but the truth will not be defeated and binance has responded to all lawsuits with wise decisions, so I hope the crypto community should be careful respond to any FUD news and should check valid sources before panicking due to market resistance, the fact is that news has no bearing on market conditions and the market has recovered from its previous correction and is ready to rush towards $30k to close in price later this month.

Yeah it did have a negative effect on the market after this was announced by CFTC, the good news is that we're already bounce back above $28k so this is none factor for bitcoin market.

As far as the case goes, not sure if it has something to do with the FTX collapse or what CZ do initially (try to save it, and then balk at the last minute).

And I thought that CZ has Binance.US to cater for the Americans, but perhaps it's not enough for CFTC.

Not that much if we do speak about price decline.They could throw as much as they want when it comes to FUD but it would be useless considering that the community support is really that strong and
cant be something to be easily shaken off.This is why we do see the price hadnt been that affected that much which means that this market cant be easily shaken off now.
Doesnt matter on whose gonna be affected or would be having that FUD, what matter most is that we dont crash out but if ever the price would crash, then
the best thing would really be buying back on lower prices.

Seems people are immune to fuds now since nothing happen to the market when this fud release. People just ignore it or maybe they know that CZ has receiving this kind of threat over years since there are legal entities want to control over their operation or manipulate something into their favor.

US is a big market but if he get hardship towards acceptance on legal talks with them maybe its good for CZ to leave the US market and focus to other so that he will not get disturb by those officials who's not open for innovation on digital financing.

Not only immune to the FUD, it looks like the US authority on Bitcoin market isn't that huge anymore.  Before when something bad announcement from SEC, Bitcoin tends to react badly but not, it looks like the market isn't that much affected.  This is the beauty when the market adoption grows globally.  There is not one authority that can control the fate of its market.


Even though the USA is big market, it can't be compared to the global market, besides traders are now aware of the propaganda and hidden agenda of some institution that is why the market isn't that much affected anymore.

Another thing about trying to take binance down a peg, its not that they did anything wrong or did amazing marketing or something like that. What they did was to build an exchange that is better than others, that was literally all that was needed, plus they gave everyone an affiliate link, which means we are taking some of their profit as well  when we bring people here, even to this day there are rarely some people who use the account they created from my link, doesn't bring me much but people basically did marketing for binance, for free. All in all, you can jail CZ and I would still use it to be fair.

You would have to pay me to believe that this is so one sided

I am till surprised that Bitcoin failed to react much when CZ got sued, it is amazing that Bitcoin breaks the 28k level too, now I am left with wonders, thinking about what possible move the government is going to take on Bitcoin, because with the way things are going now it seems like crypto is no more reacting to bad news, crypto space have gotten used to the whole idea of FUD to bring down the market.

CZ have stepped on some people that he shouldn't have, like that crazy Irish man called Kelvin, he promised Binance CEO that he will pay for bringing down FTX, how many watched this video? It's still on Youtube, I hope the best for CZ, he is the best man out there that really has the best interest for crypto.

Usually Bitcoin tends to be negative after experiencing some bad events caused by FUD news and the US market will always be marked by some bad announcements that will occur to Bitcoin if the SEC starts to react to something, even though this event cannot be classified. Looks like Bitcoin is a little accustomed to FUD or SEC shocks now, because at this time there has not been a negative reaction in the Bitcoin market.

For the CZ case will always be in problems by them, as long as he has not received the punishment as they expect and there are times when leaving the AS market and switching to other markets is much better, in order to avoid all accusations.

well , lately i saw a few news about new FUD about binance create 300 account's by themself , idk what is true or not , its just a few days ago , and after that price touch 29k range, what a coincidence right ? , however, based on my based analisyst , even if that true, i mean the FUD is right, binance already big than ever, i cant even imagine what will happen when binance collapse.

It's not that the market won't react to bad news anymore, it's that the news is too small to have a big impact on the market. The CFTC sued CZ, which is only a civil action, which means he just has to pay the fine and strictly follow the law, and it will be over. I wasn't too worried about this news in the first place, and if you follow the recent actions of the SEC and CFTC, I believe we will see more negative news from them. They are trying to attack us in any way.

   -  It's possible for cz to solve that, that's how you know you're strong in the cryptocurrency market. He was only made an issue in binance US, but not in other countries where there is an established binance. Those who make FUD in binance are just like that.

If we notice that the fud that they did in binance was not affected much, didn't the value of Bitcoin in the market immediately recover. And I think it looks like it will reach 30k$ each until April 2023.

I don't even want to bring this up, but the fact that Binance is not affecting the price of BTC likely means
1: They dont hold 1:1 BTC reserves
2: They are freezing withdrawals of BTC
3: They deal more shitcoins than BTC

Either way it doesn't look like they have much respect for censorship resistant money.

1. Is likely going to be true but Cz is not gonna admit it
2. I don't believe point this, Binance is not freezing and neither are they restricting BTC withdrawal.
3. This is obviously true and I most times question their process of listing shitcoins in their platform.
The market will not be fine with binance monopoly

What do you mean by they should leave him alone, he is being sued and not sentenced there are differences to it, he is being sued for going against trading laws.

I haven’t been following the case in it’s entity but I believe he has multiple accounts he engages in trade with and that account is not only against the trading rules but a deliberate attempt to manipulating the trading market.

I believe that crypto exchanges should have a lot of oversight, but so should regular exchanges, stock exchanges, banks and other financial enterprises that deal with the money of their customers and whose business is directly related to storing that money. Binance is perhaps the most reputable crypto exchange in the world and AFAIK it's been always trying to comply with all sorts of authorities to ensure that they operate legally. I don't think the authorities should fight such friendly companies, to be honest, but maybe I'm just not aware of something and they are being sued for legit reasons. It seems Binance is accused of insider trading, which may or may not be the case or done illegally. In any case, I'm sure Binance will be fine, and it's just a nuisance for them.

Just let the multi-billionaire manipulate the shitcoin market bro! Leave him alone!!!  ;D ;D ;D ;D

It looks like the Bitcoin market had "depegged"  on non-bitcoin market-related issues  ;D reason why Bitcoin didn't react negatively on the news..  This simply shows that people are getting used to the tactics of the centralized institution and are now aware of and knows the distinction between a person's actions and business, and the Bitcoin market activity.


I also think that the current incident has something to do with FTX's demise.  I also agree that there are people who wanted to bring down CZ because of his action that lead to FTX collapse.  Also, I also think that this is just the beginning of CZ's problem and more will come.


There is a due process on this, obviously, some power wanted  CZ and Binance down.  Now it depends on who has more power and backer.  I think CZ will have to spend huge money to pacify the issue.  So I think there a possibility to see him dumping some of his shitcoins to gather funds to combat and pacify the people behind these attacks.

I also hear a lot of fud about Binance cz I also don't know for sure if fud is true or not but Binance is already big and strong, many crypto exchanges don't survive in bad conditions but Binance can survive even if fud is true I can't imagine what will happen to crypto what will happen next if Binance crashes.
Do people still believe in cryptocurrency?

This is not the first time this is happening and I know it is not going to be the last time. There had been so many persons are that are fighting against CZ because of the previous fall of ftx and now some persons seem to be blaming CZ for such huge crash. There had been so many attack again Binance in order to make investors leave Binance for mother exchange but that will not happen because people are more interested in honest exchange and sincere persons like CZ. No matter there plans against CZ it will not going to work out no matter how they try hard.