https://edition.cnn.com/2023/11/21/investing/what-is-binance-and-why-is-it-in-trouble/index.html" Binance the world’s biggest crypto exchange " ........ " Binance’s future at the top of the crypto world is now far from certain as it faces a record $4.3 billion payout to US authorities to resolve criminal charges. "
" Zhao on Tuesday resigned as CEO and pleaded guilty to federal money laundering charges. US officials called the settlement
the biggest-ever corporate resolution involving criminal charges for an executive. " ==> Yet, most CEOs of Banks in the financial crisis... got production bonuses.
So, in recent years Danske Bank were fined over $2 Billion for money laundering ...... Credit Suisse: $234 Million and USAA FSB Bank: $140 Million / Santander Bank UK: $132 Million / National Bank of Pakistan: $55 Million ...... so Crypto companies are not the only companies guilty of money laundering.... right.
"Credit and financial institutions were
fined almost USD 5bn in 2022 for anti-money laundering (AML) issues...." Source :
https://www2.deloitte.com/ro/en/pages/risk/articles/global-fines-amlcft-related-issues-increase-2022.html So they fine
one Crypto company for $2B and fine Banks that were guilty of the same thing for only $5B for a whole year.... )
Is this a power play ...Coinbase vs Binance? Taking down the Chinese/Japan/Malta based company to boost the US based exchanges? ...or is this just the legitimization of the Crypto industry towards a more regulated (government controlled) industry? (getting rid of the competition)
Let's discuss...