US is targeting Binance

[Blawpaw]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

[1714688566]

1714688566

[1714688566]

1714688566

[blockman]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

If it's the US Justice Department then I think that it's mainly focusing on Binance.US and not the entire Binance's operation that includes all other countries.
Well, it seems that the new trend is about the issues that will be brought to any exchange whether they're top or not and that's the challenge that they have to face. So, while CZ is proactive for the last few issues which are recent more with FTX then here goes an issue for him.
I'll just take time to watch and read more news about it and how he'll answer it.

[janggernaut]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

That's an old news. You can find that from @binance tweet, as he stated on here



That's another way how to revenge binance after FTX collapse, FUD is always FUD. But the good news is, we can buy more BNB coin now

[DeathAngel]

Lots of people think SBF was a government worm planted to damage the reputation of crypto which would make it easy for them to regulate hard before they issue their CBDC. I’m not a conspiracy theorist but it seems plausible.
By nuking FTX & creating the ‘crypto bad’ idea, it would allow the government room to hit the big exchanges hard. I don’t know but we may find out soon.

[bettercrypto]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

I think this is just a FUD that is being done against Binance, and that is not surprising because we know that binance is at the Top1 in the market when it comes to its cryptocurrency exchange. Especially when binance withdraws its support to Ftx, which further undermines Ftx and SBF as its Founder.

Also, Binance was not only investigated once, it happened many times and all of them were passed by binance, so I think binance will also pass it for sure.

[Oneandpure]

Despite is FUD or not but Binance have been targeting by United State about their exchange support with money laundering, I don't sure with United State have valid document when accusing Binance as place for money laundering despite have clearly user with KYC require when trading or active become Binance user.

Several hours after FUD publish have little correction with BNB price from $280 become dropping until $255 although have reach up right now to $265. I don't believe with effective FUD made by United State against Binance most popular and large exchange market right now, all depending with the owner how his reputation. I am waiting against or respond from CZ about accusing by United State with Binance exchange as place for money laundering.

[mu_enrico]

Not sure about users withdrawing coins, but the news about the US (and its ally) targeting Binance is quite old. The real question is whether or not they will do real action/crackdown this time.

Anyway, just for discussion, if you see today's Bitcoin pump, that can be because users are fleeing to BTC, trading their altcoins from Binance to BTC. And then, they will withdraw their BTC from Binance. Or it probably is a nothing burger, just business as usual.

[shinratensei_]

People were starting to believe in bitcoin again. Any FUD in the market greatly affecting the trust by people to the centralized exchange site. Some people were choosing to convert their assets into the bitcoin. Binance has been making a very fast move since the FUD was coming. Recycling the old news has become another trend to create FUD. I just wanna know how long the press will try to blow up fake news that already made before.

I do believe with binance. So far binance is the healthiest exchange site that i have ever seen compared with another exchange site. It seems like that those who hate binance must do that even harder to hit binance.

I hope that people will never try to leave from binance.

[masulum]

Not only the US, I also read UK wants Binance to share user data regarding alleged criminal money flows. This is not good news for crypto. However, as long as it's not directly related to Bitcoin, I think crypto will be fine. of course there will be fluctuations in prices, this is common, there is no need to worry. Therefore, if you have a lot of assets on Binance, it's best to keep them in your personal wallet. So when there are sanctions given to binance and suddenly holding user assets, our assets are safe because have been transferred before.

[shavebob77]

I will never forgive sbf for all this cascade of bad news,the perfect excuse,it won't take long for them to start saying "ban" this or that...

on other hand maybe a complete shutoff between fiat and btc is the key to a true viable way to get to satoshi's vision.

[Cantsay]

I doubt if this legit, they only want to create FUD nothing else.
They are constantly looking for way to make investors doubt the crypto space even if it means bringing up an event that occured a long time ago.

I will never forgive sbf for all this cascade of bad news,the perfect excuse,it won't take long for them to start saying "ban" this or that...

on other hand maybe a complete shutoff between fiat and btc is the key to a true viable way to get to satoshi's vision.

I saw an article online stating that "Sam Bankman-Fried has been arrested" though I didn't bother to look at it because I was busy with something else. And it seems to be a good news.
But my question is; since he has been arrested what will happen to the assets of his customers? Will they be refunded? Or will he compensate them for their losses?
Those were some of the questions that came to my mind when I saw the article. I was lucky not to have used FTX.

[Bitstar_coin]

Not only the US, I also read UK wants Binance to share user data regarding alleged criminal money flows. This is not good news for crypto. However, as long as it's not directly related to Bitcoin, I think crypto will be fine. of course there will be fluctuations in prices, this is common, there is no need to worry. Therefore, if you have a lot of assets on Binance, it's best to keep them in your personal wallet. So when there are sanctions given to binance and suddenly holding user assets, our assets are safe because have been transferred before.

Ftx is an exchange and not directly related to btc but the bad news was able to affect btc price, now imagine anything should happen to Binance,  the market will be in a total chaos, the price of btc will drop heavily and people will have less trust to hold any asset including btc.
I hope FUD will not will only remain so because it will really hit hard on the market.

[Xal0lex]

Binance has now been hit with a big batch of FUD. A huge amount of various speculations and manipulations of opinion are concentrated around this exchange now. There is also the shenanigans of competitors, which can also provoke users to take certain actions. In any case, it is very dangerous to keep your money on any of the centralized exchanges, especially in these unstable times. Use your non-custodial wallets, not exchanges.

[Mpamaegbu]

IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

What I think? Well, for starters, I think you're just making a wild accusation there by mentioning that it's a ploy to lead Binance's dissatisfied customers to Coinbase. What are your facts on this issue? No?

Anyway, just for discussion, if you see today's Bitcoin pump, that can be because users are fleeing to BTC, trading their altcoins from Binance to BTC. And then, they will withdraw their BTC from Binance. Or it probably is a nothing burger, just business as usual.

Yes, there's a possibility that traders and investors are trading their altcoins for Bitcoin. That could be the cause for today's pump we've witnessed so far. However, we can't be sure they're doing the buying and selling on Binance. It can be on any other exchanges.

[Jaered]

Does the DoJ have the length of tentacles required to take down CZ right from Washington? I don't know. Don't think so. There's Binance.us which is within their reach and serving American customers. But why is the whole Binance panicking?

[doomloop]

Not only the US, I also read UK wants Binance to share user data regarding alleged criminal money flows. This is not good news for crypto. However, as long as it's not directly related to Bitcoin, I think crypto will be fine. of course there will be fluctuations in prices, this is common, there is no need to worry. Therefore, if you have a lot of assets on Binance, it's best to keep them in your personal wallet. So when there are sanctions given to binance and suddenly holding user assets, our assets are safe because have been transferred before.

Ftx is an exchange and not directly related to btc but the bad news was able to affect btc price, now imagine anything should happen to Binance,  the market will be in a total chaos, the price of btc will drop heavily and people will have less trust to hold any asset including btc.
I hope FUD will not will only remain so because it will really hit hard on the market.

It is related because it holds different cryptos including BTC but the bad news or the media fuelled it more causing people to worry. Binance is still trusted as of now and I hope they will remain like this because if not then it will be a disaster but no this won't put an end to the overall market. So many big and trusted exchanges have all fall down in the past but people have learned to move on later on.

If there's one to blame here then it must be the exchange and not the cryptos itself. Some of the cryptos are still trusted as long as you store them on the wallet which you fully control. Fuds can disappear but there's a chance that it will come back again after some time.

[Jackl87]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...
What do you guys think about this?

I had no time to research yet but i read in a few telegram chats already that there are some rumors going around about Binance and now i know what rumors these are. Money laundering is a serious accusation and therefore i am not really surprised that a lot of people are withdrawing funds from Binance now and that the BNB coin has also lost some value in the last two days.
Well i think everyone knows that Binance is the biggest player in the crypto space since a few years now and if there would really happen something big with Binance like a trial or even more then i think Binance will go down way lower than now and with it the whole crypto market. Lets hope that does not happen.

[el kaka22]

I am guessing that just because something is investigated doesn't mean that it is a crime, nor will it turn out to be a crime or aimed or hoped to be a crime. Something being investigated means it's looked at if it is a crime or not. It means, if Binance follows all the rules then they have nothing to worry about.

Just to fall with US rules and laws, they opened up binance.us, which means that if that is following the law then there is nothing to worry about at all and binance.com is something totally different. Just because the parent companies are the same, doesn't mean that a crime binance.com may do, doesn't mean binance.us is also a crime neither.

[fuguebtc]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

That's an old news. You can find that from @binance tweet, as he stated on here


That's another way how to revenge binance after FTX collapse, FUD is always FUD. But the good news is, we can buy more BNB coin now

I see it too, that's exactly what's going on. CZ is not the one that kills FTX, but he is the one that makes FTX die faster, CZ and SBF have been arguing on Twitter for a few days, and SBF said he wouldn't spare binance, so I'm not surprised Fuds about binance at this point. Binance may also crash someday or never, no one knows but I am confident that now is not the time for binance to crash. It's all just someone's revenge plan, and this is also a good thing for binance to have a chance to prove its strength.

[m2017]

After the FTX clampdown, the US Justice Department is going after Binance. According to Reuters, Binance is being hit hard and is now under investigation due to money laundering allegations. Amidst the news, customers are starting to withdraw their funds.
IMO this is all a plot to drive customers away from Binance and led them to Coinbase...

What do you guys think about this?

First thought: "just that wasn't enough". If there are real problems in Binance, this will directly affect the crypto market and the negative effect of this will be more powerful than if the FTX. This news background has already had an impact and shattered the faith of users in this platform. Here it doesn't matter whether the problems are real or not, people panicked and withdraw their money. Panic never leads to anything good. The same applies to the bnb. Problems with Binance = problems with bnb. There is no need to have a "magic crystal ball". BNB will fall in price. The only question is how much.