terrific
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November 23, 2023, 12:48:44 AM |
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We might literally get into the bull run now as we get the indications, arrest of CZ, etfs, halving and so on. Who's next? I don't know but who's the loudest on the market recently? I haven't seen someone done that. It's always CZ that takes the spotlight. Paying the fine, getting arrested and then getting out of the US market. Pheew.
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2Pizza410000BTC
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stead.builders
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November 23, 2023, 01:18:44 AM |
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I'm still in shock that he accepted such crime but my concern is what will be the effects of this resignation on Bitcoin and the crypto space at large.
I'm even afraid that there could be some hackers in this exchange from now cause CZ really tries to keep people's assets very safe.
CZ pleaded guilty and paid a $50 million fine. And he resigned as CEO of Binance, the world's largest exchange. His mental activity had some effect on BNB but it is trying to recover on me. However, it is doubtful how much the new CEO will be able to sustain Binance. So these can have a big negative effect on BNB. Although it will recover later. But a negative effect may be seen for a temporary period. CZ was a worthy man at Binance but many are worried about how well the current new CEO can manage Binance Richard Teng is the former Global Regional Director. He is perfect enough for the new CEO position. Richard Teng as the new CEO assured every user that the Binance platform and tokens will not suffer any harm. I think the platform will do very well come new CO though there is a temporary market dumping but this dumping will not last long and the market will recover very soon. Many people are tensed because the new CEO may cause some damage to the market but I am completely tension free.
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franky1
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November 23, 2023, 01:35:19 AM |
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Treasury Secretary Janet Yellen said that Tuesday's action was the largest settlement in the department's history. "I want to make sure that folks really understand how unprecedented this monitorship is," a senior official told reporters earlier on Tuesday. "We're not just going after the egregious conduct … but we're also … getting Binance out of the U.S. entirely."
binance.us is still online though right now just goes to show how binance doesn't really take things too seriously. if they had any sense they would have an announcement on the very front page saying "DON'T CREATE A NEW ACCOUNT WE'RE CLOSING DOWN!". irresponsible behavior towards their us customers...
Frankly it looks to me like the USA is backing coinbase and allowed this attack. I don't understand why CZ went into the US in the first place it was very likely going to be this way. What I don't like is Coinbase may end up being the only exchange for USA citizens. binance.COM has to exit servicing US customers binance.us will be allowed to continue to operate with US customers
it even says it in your own coindesk link The official clarified that the separate exchange called Binance.US, which is the operating name for BAM Trading Services, a U.S. affiliate for Binance, is a registered money services business and therefore is not affected by Binance's exit.
binance.com is under probation (monitoring) binance.US has not been charged, not plead, nor sentenced. binance.us is not in trouble
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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larry_vw_1955
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November 23, 2023, 02:24:01 AM |
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binance.COM has to exit servicing US customers
that's what's so confusing. binance.COM stopped serving USA customers YEARS ago if my memory serves me correctly. then they came up with binance.US shortly thereafter but it was a watered down version of the .COM site. binance.us will be allowed to continue to operate with US customers
it even says it in your own coindesk link The official clarified that the separate exchange called Binance.US, which is the operating name for BAM Trading Services, a U.S. affiliate for Binance, is a registered money services business and therefore is not affected by Binance's exit.
you're right. but then whoever the senior official that said this they was just blowing smoke up everybody's ass. "We're not just going after the egregious conduct … but we're also … getting Binance out of the U.S. entirely." binance.US has not been charged, not plead, nor sentenced. binance.us is not in trouble
they should be. because binance.COM hasn't been serving USA customers for YEARS anyway. and we all know binance.US and binance.COM are from the same company. so this story is a bunch of baloney. it's just about a money grab on the government's part with no real new actions.
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thecodebear
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November 23, 2023, 04:17:31 AM |
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Hopefully crypto exchange CEOs will start getting the message that they need to not do illegal stuff lol. it's not worth doing illegal stuff in order to make a bit more money. If you're a centralized exchange ya gotta follow all the KYC and AML rules and follow the restrictions certain countries place on their citizens using certain exchanges. Just not worth it to do illegal stuff for money cuz eventually you get caught.
And for the industry I think this is actually a good thing if it helps spread out the exchange market a bit more so Binance doesn't dominate it as much. Hopefully some people are pulling out of Binance to use other exchanges. While at the same time hopefully this means Binance will be operating in line with the law from here on out, helping to protect the industry from future reputational stains like this.
Market-wise, I'd say its a good thing that this, plus news of the SEC suing Kraken hitting the same day, only made the market crash for a day and then the very next day it was all the way back up lol. Two major negative legal crypto exchange things in one day and like a day later the market is back up to where it was before. It's like great we got that out of the way and it only had basically a 24 hour effect on the Bitcoin market. Good signs for the market to start moving up again soon.
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thecodebear
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November 23, 2023, 04:22:50 AM |
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binance.COM has to exit servicing US customers
that's what's so confusing. binance.COM stopped serving USA customers YEARS ago if my memory serves me correctly. then they came up with binance.US shortly thereafter but it was a watered down version of the .COM site. binance.us will be allowed to continue to operate with US customers
it even says it in your own coindesk link The official clarified that the separate exchange called Binance.US, which is the operating name for BAM Trading Services, a U.S. affiliate for Binance, is a registered money services business and therefore is not affected by Binance's exit.
you're right. but then whoever the senior official that said this they was just blowing smoke up everybody's ass. "We're not just going after the egregious conduct … but we're also … getting Binance out of the U.S. entirely." binance.US has not been charged, not plead, nor sentenced. binance.us is not in trouble
they should be. because binance.COM hasn't been serving USA customers for YEARS anyway. and we all know binance.US and binance.COM are from the same company. so this story is a bunch of baloney. it's just about a money grab on the government's part with no real new actions. True binance.com hasn't served US customers for like 4 or 5 years now. But I've always heard if you just have a VPN you can get around that. Always sounded like Binance was following the letter of the law but didn't mind if US citizens found a way to get around that restriction. So I'm guessing the US govt is gonna make Binance take additional information or something from people to prove their identity so just using a VPN or something won't work. Thus kicking all US citizens off for good. I'm not clear on why exactly binance.com can't operate in the US. Is something they do like totally against US finance rules?
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larry_vw_1955
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November 23, 2023, 05:21:37 AM |
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True binance.com hasn't served US customers for like 4 or 5 years now. But I've always heard if you just have a VPN you can get around that. Always sounded like Binance was following the letter of the law but didn't mind if US citizens found a way to get around that restriction. So I'm guessing the US govt is gonna make Binance take additional information or something from people to prove their identity so just using a VPN or something won't work. Thus kicking all US citizens off for good.
that's a good theory. there must be some reason people wanted to use binance.COM rather than binance.US (legally). it's because .US sucked i guess. limited offerings. no staking maybe? i'm not sure. but i know they sucked. i think the customer service probably was bad too. although i never tried emailing them or whatnot. but AFAI am concerned if i can't call them on the phone then they suck. ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) I'm not clear on why exactly binance.com can't operate in the US. Is something they do like totally against US finance rules?
they probably could but they would have to disable certain features on the platform for US customers like staking maybe? i guess they thought it was simpler to just make a stupid little website for Americans...trimmed down in functionality so that they couldn't hurt themself.
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SamReomo
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November 23, 2023, 05:33:11 AM |
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I don't know why but I can feel that there will be a short term dump that will take place very soon and if that happens then we won't be able to see Bitcoin going to $50k levels before 2024. CZ, isn't arrested yet and I'm pretty sure that guy won't be arrested because he has enough money to avoid such arrests and have a better settlement with the US government.
There can be huge sell pressure on BNB coin and that may be the cause of another dump. Many of the BNB holders may develop a fake belief that Binance will have a similar fate like FTX and the investors will have to lose money like they have lost during the FTX fraud. The selling pressure can get way higher if something like that takes place.
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SPARE
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November 23, 2023, 06:04:09 AM |
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With the money laundering case against Binance Exchange CEO, many may think that Next FTX exchange will be like that but I think it won't be, because CZ is a very honest guy, he doesn't want his exchange to suffer any harm. The CEO has stepped down and announced the new CEO so that there is no effect on his exchange. Let him go on his own. I think he will come out of this mess very soon because he has a lot of money to settle with the US Govt. He will get out of this case because he has a lot of money so I don't think Binance will suffer any losses.
PLease No one should spread fake news CZ is not yet arrested or in any such situation
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Blitzboy
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November 23, 2023, 06:12:57 AM |
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Its interesting that CZ's position is similar to Arthur Hayes'. Yes, there was a Bitcoin rise after what happened at Bitmex. What causes these wild stock market moves after major lawsuits? Its not just coincidence; its human psychology at play.
Investors often see these events as governmental clean-ups that make the market more stable. A tree falls over when you shake it, but the tree stands taller afterward. This cleaning gives investors confidence, which leads to good market movements. So, history doesnt really repeat itself, but feelings do. In the case of Bitcoin, it seems to reflect the overall bullish mood after regulatory moves. This trend shows how strong Bitcoin is and how the crypto market can adapt and grow even when things go wrong.
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gunhell16
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November 23, 2023, 06:50:33 AM |
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So as you all know they charged CZ and he stepped down. Most likely he will get arrested as he goes on US soil.
What I find strange about all this, is that it’s all familiar. Anyone know what I am taking about?
Remember Bitmex and it’s CEO Arthur Hayes who was arrested. What happened right after? One of the biggest bull runs in Bitcoins history.
History doesn’t repeat itself but it often rhymes.
But I think Binance is different from Bitmex, because from what I see in the post you made, you seem to want to release that what happened to Bitmex will also happen now to Binance. You didn't mention anything, but that's what you want to emphasize in your post. Not that I'm defending Binance; the question is, when Bitmex was at its peak in the crypto space, was it in the top 1 exchange? Isn't it true that Binance is the top 1 exchange holder according to history, but Bitmex is not? Although Bitmex is only included in the top exchange, I know that even if CZ steps down, Binance will continue to be popular, and there will still be many users who will trust it. And I'm still one of those who will continue to use Binance; even if you OP will still use Binance, it's impossible not to. I don't think so. My thoughts are just an opinion.
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PX-Z
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November 23, 2023, 08:34:19 AM |
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Quite misleading subject lol. But not yet though, they even made a deal so he won't get arrested at least months ahead. The +$4B amount charges is the solution for this and probably the company can pay it in due for several months (well they can even make a request for extension just depends on the deal). But that would change if the exchange will lost hundred of users after this, which i don't think it will, but still, let's see...
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Tigerheart3026
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November 25, 2023, 03:28:42 AM |
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I don't know why but I can feel that there will be a short term dump that will take place very soon and if that happens then we won't be able to see Bitcoin going to $50k levels before 2024. CZ, isn't arrested yet and I'm pretty sure that guy won't be arrested because he has enough money to avoid such arrests and have a better settlement with the US government.
@cz have already accepted the accusations brought against him, and now there are no way to pay penalty over 4 billion dollars to us government, if he will denial to pay then i think there might be an arrest warrant against him, but it will not be happened because binance have enough own fund to pay and such a settlement has already been discussed.
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blckhawk
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November 25, 2023, 03:42:16 AM Last edit: November 25, 2023, 07:58:00 AM by blckhawk |
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Damn, I just read the news. How often would a CEO confess to some crime they commit? Money laundering isn't that big of a crime, but if you do it with billions, you are in for a treat. I wonder how the crypto world is feeling about this right now, because I am honestly in shock that he admits to it. I know that they are doing these things and then some, and are expert in playing it safe. But to be accepting the charges? That's something.
Hopefully it brings in good numbers for bitcoin, but I doubt it. It may even cause ripples of uncertainties in the crypto space, but only time will tell.
Dude, you do not want the rich people getting away with all the profits, it is not a big deal to you because the government is not getting a lot of taxes from you but when it comes to businesses and rich people, taxes are in millions or in billions so it is a big deal if you are in the government, not to mention that criminals can get away with all the money that they have taken when they launder their money to make it look legitimate, instead of a total asset seizure, they will only pay taxes. Regards to how the crypto space is taking it, it seems to be nothing to them because if you look at the price of bitcoin right now, it is not going down that low and even if it goes down, it eventually recovers the next day. What I am worried is how the Binance will move with the new CEO Richard Teng.
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BitSwapNow
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November 25, 2023, 03:46:59 AM |
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I think everything will be fine and continue on better honestly. Regulation is there more so for terrorism, KYC and anti-money laundering. CZ is a great role model for crypto and an avid person who has done greater good for the community and adoption worldwide. I believe he will come to some agreement with the US authorities and pay a hefty fine and keep it moving. I also believe this was part of the agreement that he would step down from CEO. Crypto will move on and upwards hopefully with more great news and more over sight, less scams and real world use/adoption. BTC halving coming is also a big plus!!
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Ale88
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November 25, 2023, 09:54:32 AM |
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So as you all know they charged CZ and he stepped down. Most likely he will get arrested as he goes on US soil.
What I find strange about all this, is that it’s all familiar. Anyone know what I am taking about?
Remember Bitmex and it’s CEO Arthur Hayes who was arrested. What happened right after? One of the biggest bull runs in Bitcoins history.
History doesn’t repeat itself but it often rhymes.
It is my understanding that they have reached an agreement, so CZ won't be arrested. If he decided to confess and collaborate I guess it's exactly because he already knew that in that case he wouldn't be arrested, otherwise why confessing? He could have simply stayed in Dubai and the US couldn't do anything about it.
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legendbtc
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November 25, 2023, 12:51:30 PM |
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So as you all know they charged CZ and he stepped down. Most likely he will get arrested as he goes on US soil.
What I find strange about all this, is that it’s all familiar. Anyone know what I am taking about?
Remember Bitmex and it’s CEO Arthur Hayes who was arrested. What happened right after? One of the biggest bull runs in Bitcoins history.
History doesn’t repeat itself but it often rhymes.
It is my understanding that they have reached an agreement, so CZ won't be arrested. If he decided to confess and collaborate I guess it's exactly because he already knew that in that case he wouldn't be arrested, otherwise why confessing? He could have simply stayed in Dubai and the US couldn't do anything about it. But if he pleads not guilty and there is no deal with them, what will happen to Binance? I believe he is thinking more about the future of binance and the BNB blockchain ecosystem than he is thinking about himself. After all, those are two passionate products that he has worked hard to build over the years. He may not be arrested but his two products will certainly be destroyed if he does not agree to any deal. I think CZ's punishment will be the same as Arthur Hayes.
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OcTradism
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November 28, 2023, 01:57:08 AM |
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But if he pleads not guilty and there is no deal with them, what will happen to Binance? I believe he is thinking more about the future of binance and the BNB blockchain ecosystem than he is thinking about himself. After all, those are two passionate products that he has worked hard to build over the years. He may not be arrested but his two products will certainly be destroyed if he does not agree to any deal. I think CZ's punishment will be the same as Arthur Hayes.
In history of cryptocurrency market so far, there is no centralized exchange that can successfully defend its leading position for more than one market cycle. Mt. Gox, BitMEX, Poloniex/ Bittrex, Binance. Binance is the CEX that has come very nearly to achieve it as a next market cycle is almost kicked off as a next Bitcoin halving is only five months from now. If CZ refuses to plead guilty, Binance will continue to be investigated and under massive attacks from governments, regulatory authorities and other competitive exchanges. This even is like a bomb rescue from CZ and Binance and I think it is good for cryptocurrency market in general because before a bull run, a big bomb is taken off already.
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EarnOnVictor
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November 28, 2023, 02:22:18 AM |
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I'm still in shock that he accepted such crime but my concern is what will be the effects of this resignation on Bitcoin and the crypto space at large.
I'm even afraid that there could be some hackers in this exchange from now cause CZ really tries to keep people's assets very safe.
CZ pleaded guilty and paid a $50 million fine. And he resigned as CEO of Binance, the world's largest exchange. His mental activity had some effect on BNB but it is trying to recover on me. However, it is doubtful how much the new CEO will be able to sustain Binance. So these can have a big negative effect on BNB. Although it will recover later. But a negative effect may be seen for a temporary period. CZ was a worthy man at Binance but many are worried about how well the current new CEO can manage Binance Richard Teng is the former Global Regional Director. He is perfect enough for the new CEO position. Richard Teng as the new CEO assured every user that the Binance platform and tokens will not suffer any harm. I think the platform will do very well come new CO though there is a temporary market dumping but this dumping will not last long and the market will recover very soon. Many people are tensed because the new CEO may cause some damage to the market but I am completely tension free. I wouldn't use perfect for Richard Teng being the CEO of Binance, though he has a good track record, this doesn't matter when it comes to leadership, I will judge him over time. The best for Binance has ever been CZ, but unfortunately, he has been overzealous and has shamefully excused himself. As for the crypto market, it's not Richard Teng who tamed it, the market naturally reacted the way it should and also the way I expected as this is not about Binance having financial trouble, it's just a matter of the CZ as the head having trouble. The company is well-liquid with many assets to back it up and stable enough in such that is void of insolvency, so there can't be too much surprise in the market. And of course, they will pay their fine as and when due, this is even as their regulators are not bad to the extent of forcing them to pay the fine of $4.3B at once. They will plan the payment in such a way that will not affect the company, the crypto market and the customer's deposit. So this can't cause any ugly surprise in the market, it happens to financial companies often and they are still fine.
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Seinlocko
Newbie
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Activity: 51
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 28, 2023, 02:29:18 AM |
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So as you all know they charged CZ and he stepped down. Most likely he will get arrested as he goes on US soil. That's for sure, because as far as I know, CZ in his current case will be sentenced to 18 months in prison. So if Shizu enters US territory, she will definitely be immediately detained. What I find strange about all this, is that it’s all familiar. Anyone know what I am taking about?
Remember Bitmex and it’s CEO Arthur Hayes who was arrested. What happened right after? One of the biggest bull runs in Bitcoins history.
History doesn’t repeat itself but it often rhymes.
Yes, the case that happened to Arthur and Bitmex, perhaps the picture is similar to what is currently happening with CZ and Binance. So it is possible that the history of bitcoin price increases will repeat itself. Because, I believe that behind all these cases there may be a plan that leads to an increase in the price of bitcoin on crypto exchanges.
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