/biz/ - Business & Finance

>>56205450
>Binance is a frequent investor in third-party crypto projects and beyond. Binance has invested in X, formerly known as Twitter. Binance co-founder Changpeng Zhao—or CZ as his 8.6 million X followers know him—is the biggest face of crypto.

>“You just can’t quantify what would happen to the industry if Binance disappeared, given it has been responsible for fostering a huge amount of innovation and growth,” said Anthony Georgiades, a general partner at Innovating Capital, a fund that invests in early-growth companies.

>The U.S. Justice Department has undergone a yearslong investigation that could result in criminal charges for Binance and Zhao as well as billions of dollars of fines, according to people familiar with the probe.

>Binance also faces a Securities and Exchange Commission lawsuit that alleges it and Zhao operated illegally in the U.S. and misused customers’ funds. The firm has acknowledged past mistakes but says customer money is safe and it is committed to compliance.

>“We have worked tirelessly not just to learn the lessons of the past, but also to continue to invest in the teams and systems that ensure user protection,” a spokesman said.

>Binance launched in China in 2017, though it claims to be based nowhere, with staff scattered around the world. Its global website is accessible by traders almost everywhere, but that number is falling as its presence has been forbidden in many countries. In Europe, more countries are shutting their doors to the exchange.

>>56205458
>In the U.S., activity at its local exchange, Binance.US, has basically dissipated. Its chief executive officer, legal chief and risk head all left recently.

>In a virtual Binance.US meeting days before his departure earlier this month, Binance.US CEO Brian Shroder said revenue at the exchange had fallen 70% year to date, according to a presentation viewed by the Journal. Executives looked on with dismay.

>Shroder told employees Zhao would need to resolve “his regulatory matters, put his .US holdings in a blind trust, or sell his shares” in order for the U.S. platform to maintain its growth initiative. Those steps would allow the company to unblock banking relationships and get licenses, he said. Zhao is the majority owner of Binance.US and the global exchange.

>A spokeswoman for Binance.US declined to comment.

>Binance and the DOJ have been talking for months, according to people familiar with the discussions, and inside Binance, there have been discussions on whether Zhao should step down.

>Zhao’s insistence in remaining at the helm of the company has frustrated some executives who believed him leaving would improve the chances of the company surviving, the Journal previously reported.

>The company upheaval has also hurt employee morale.

>Employees confronted Zhao in a summer meeting following layoffs, according to messages viewed by the Journal, in a rare showing of criticism.

>“Some ppl laid off were given 0 days notice and/or found out they got laid off because they couldn’t login to the system anymore. How is that treating them respectfully? Is 2 weeks severance respectful?” one anonymous employee asked Zhao in the all-hands meeting chat. Nine others upvoted that. The question went unanswered.

>>56205504
>A further stumbling block for Binance came in late August, when the Journal published an article on Binance customers’ use of sanctioned Russian banks. The DOJ has also been investigating Binance in connection with possible violations of U.S. sanctions on Russia, the Journal has reported.

>Following the Journal story, the Justice Department questioned Binance about the banks’ usage, and Binance’s chief compliance officer, Noah Perlman, met with department officials to discuss their concerns, a person with direct knowledge of the matter said.

>Pressure from the DOJ was partly responsible for Zhao’s decision to begin winding down Binance’s business in Russia, once one of its most important markets, the person said. Over the following two weeks, Binance barred customers from using the sanctioned banks and forced out the executives managing its Russia business. It said it was considering a full withdrawal from Russia.

>Zhao publicly remained defiant. “We are one community,” he wrote on X on the day the Russia executives left. “Keep building!”

>But behind closed doors, Zhao has been bringing new lawyers to handle the DOJ case, according to people familiar with the move. And Zhao has been staying put in his home in the United Arab Emirates, which doesn’t have a mutual extradition treaty with the U.S.

>>56205450
tldr?

>>56205521
After cheng enabled the pepe scam, I don't give two shits about chinknance. Doge shit enabling, frog shit enabling. I hope he joins Ross and Sam

>>56205450
>>56205458
>>56205504
>>56205519
>binance US
lol, lmao

>>56205521
>>56205559
They're going to take down both, Chang did a sloppy job trying to pretend the us site was different.
The TL;Dr is that this Chinese guy pee peed in the SECs coke and now he's going to pound you in the ass prison.

nothing will happen
sam lost btw

CZ has a chink passport.

It's weird what cunts Americans are. It's a fucking exchange that bans all Americans that de facto shut down its US operation because the US asked them to.

There are ZERO countries that are as obsessed with extraterritorial persecutions like the US.

What are these democrats going to to? Convince China to extradite him lol?

What a retarded shithole country the US is lol.

>>56205617
Nobody won. They cannibalized each other and did by that the glow niggers jobs

>>56205632
Your little Chinese butt buddy is going to be in Gitmo by the end of the year.

>>56205645
Nah. He'll fuck off to China and resign but control it from the shadows like what Arthur Hayes does now with Bitmex. And the corrupt Democrats pushing pieces about him as revenge for taking down SBF will get bored of crypto and move on to more important things like printing money to keep the spic-nig cycle running and putting ozempic in the water supply.

>>56205521
it's over lol and has been since december 2022

>>56205450
Lmao, who the fuck cares about what happens to a fucking exchange, if it suddenly disappears nothing of value is lost and hundreds of competing exchanges will fight for the position binance left

>>56205809
>t. Drooling zoomer mongoloid
I really hope every exchange gets closed

Binance isn't even operating in the US. Burgers are the biggest kikes ever.

>>56205809
Every exchange does the exact same shit, binance is simply at a larger scale.

>>56205886
>Binance isn't even operating in the US. Burgers are the biggest kikes ever.
Their white glove onboarding service would instruct Americans how to use a VPN and access the non US exchange. Your little yellow daddy is going to get seal team sixed.

>>56205892
>Chinknance deservably shuts down
>Gets liquidated
>Demand for crapto not found
Best that could happen. Altcrap another 99% down, buttcorn back to sub 1000

>>56205886
If you're dumb enough to believe this one...

>>56205892
That's what I'm saying, if binance dies it doesn't really matters cuz there's lot more exchange websites

>>56205978
No, I mean they're all just as fraudulent as binance. It's going to be whackamole with global law enforcement, and your funds are going to be caught in the crossfire.

>>56205632
>There are ZERO countries that are as obsessed with extraterritorial persecutions like the US

Didn't China ban all crypto trading for a while?

Also, unsurprisingly, you are wrong. The EU effectively bans trading in US based ETFs. So no, you are not correct, there is more than ZERO countries that are obsessed with extraterritorial persection.

>>56205558
Pepe is on coinbase. Coinbase a scam too? Too more weeks until they collapse. Creg Right will be vindicated.

>>56206184
>Coinbase a scam too?
Yes.

>>56206184
Yes. Every cex that enabled that shitcord scam in an attempt to dog whistle to anon with a (((meme))) that got hijacked 6 years ago deserves to end shut down

>>56206081
What I mean is that no countries give a shit that somebody somewhere in the world spins up an NFT scam and tries to prosecute it. Only the US does this. It's so fucking dumb. Your tax money could be going to useful shit like making sure inner city students can read at a 2nd grade level by age 18 but instead the banks running the SEC and DoJ DEMAND that they are infringing on their territory like its 2002 and you are a tribe lawyer going after a kid that downloaded a Metallica CD in Sweden off Napster.

lotta CZ fanboys in here, sad to see people cheering for an exchange that trades against them

>>56205450
Binance fud shills are back. What are they trying to shoo attention away in the crypto space now???

>>56205450
i will continue to use binance for all my needs that I can simply out of spite for the government
I dont hodl there
but if I need to do something cross chain I cant do in a decentralized manner I am sure to use binance if I can (EX: buying KDA with funds from ETH)

>>56205521
two weeks and binance will be over'd just like bitfinex/tether were

For some reason I'm unable to convert crypto to cash on Binance unless I buy crypto with my credit card (again). I didn't want to bother so, I just moved my crypto to another exchange and sold it there, then withdrew cash to paypal. It took literally 1 day to get the cash on my bank account. Binance is trash.
t. yuropoor.

>>56205450
literal nothing burger

>>56205521
Jews angry they didn't get in at .50 cents

>>56205632
Every country wants their pound of flesh... China is probably the most extradition hungry

>>56205450
>Binance
Priced in, stop spamming

>>56205450
>article written by Kowsmann, Ostroff and Berwick
I dont have to check. Sam lost.

>>56205450
It all sounds like FUD. You can say whatever you want but as long as the books are solid, binance is safe. CZ is a smart guy, unlike that wacko SBF. All the shills in the world couldn't save FTX cause the business was shit.

Kikes just cant stop seething that they lost this battle to CZ

>>56205450
yes 2 more weeks until the collapse

>>56205450
>The WSJ article does not contain any new information, nor does it reveal any progress in DOJ’s negotiations with Binance.
lmao
>>56209694
>Berwick
his social media is like a deranged ex girlfriend kek
https://twitter.com/AABerwick

>>56205450
OP is an extremist researcher at berkman klein

>>56205450
I love how anons come onto 4chan and dump a wall of greentext quoting directly from a long ass article. Look: if I wanted to read the long form article, I would. The first fucking thing you posted was the link, that's all I needed. "But muh paywall". Okay then I wouldn't. So that's just another reaaon for me not to give a shit. Bottom line, NO ONE is reading all of that. We are all very busy men with shitposts to attend to.

WEN BINANCE

>wsj article

kys

>>56205519
>>56205504
>>56205458
>>56205450
>

>>56205809
only sane post itt

>>56205450
same vibes

>>56205450
The market will dump, but he isn't going anywhere. Chinese government need their assets.
>>56213203
kek this is good.

Here is the narrative, banks are now finally ready to enter the space. They have been buying our assets during this bleed bear market, and will now dump it to destroy binance.They know he can't cover his position and it's over. They did this for two reasons, nr 1, they will now close the on/off ramps both by removing binance as a company, but also by blocking fiat deposits to crypto companies. nr 2, they will now create their own on an off ramps, then Interoperability with ccip to transfer from any chain in a custodial way.
They also want to make binance go down so they can see all the records to see who bought and sold crypto. Did you really think they would allow you NOT to pay your taxes?

>>56205450
>daily binance FUD thread
sorry chuds but they're not going anywhere. They're here to stay as long as they keep investing in 3rd party projects that offer full on decentralization like POND.

>>56205450
Seeing all the FUD around Binance, I already moved all my crypto assets away from it, and now they are on CryptMi whose card I now use for making transactions

>>56207458
I think most people in Europe are facing this issue

>>56217109
I'm also using that card, and I like the zero fees on it with the cashback that it offers

the original goal of crypto was zero regulation by govts.

>>56205450
They fucked up their card. Thank goodness I have my Cryptmi card. I prefer using crypto so blocking this way is not so good.

Shills took over the thread

lol, the fud is real kek

>>56218959
Case in point
>>56218963

Also note to binance shills, /biz/ may hate jews, as they should, but transparent attempts to twist that into team sports, ie
>if you bad talk binance you must love cz
aren’t effective and only make you standout as shills

>>56219001
Should read
>if you bad talk binance you must love sbf
I’m going on no sleep

https://cointelegraph.com/news/binance-urges-users-to-convert-euros-to-usdt-after-paysafe-debank

The beginning of the end? You're behind the times. It's the opposite. Here's how it should go:
once it's begun, it already has ended.

>>56205504
>just give me your company
Seethed the seether

>binance fud for the 100th time
lmao I guess it's that part of the cycle

>>56206184
>Pepe is on coinbase
It's also on gemini, despite them not listing anywhere near as much

>>56209694

>>56205450
I stumbled upon Tap Fintech, the holy grail for oldfag like me who want to juggle crypto and regular banking in one badass package.

>>56205690
It's not over, Pajeet. The recent partnership of the XTP regulated app with Total Processing, backed by Paysafe, makes the Binance issue irrelevant to me

>>56217368
Regulations might kick out the scammers from the scene, Noob. I'm rolling with GFCS regulated payment apps, atm.

>>56205595
cope mutt, what are they gonna do, catch him in china?

>Load ze binance fud

Kek fuddies

>>56205450
fuck america

Wall Street has literally told you retards It wants to be in a surveillance agreement with fucking coinbase. They don't want competition They certainly don't want some fucking chink being the competition. It's a two-prong attack they're litigating finance away while simultaneously attracting big money into coinbase.

And the loss of liquidity in thousands of shit coins means absolutely fucking nothing. The only thing that matters is how much Bitcoin these fucking niggers sell to prop their scam shit up.

>>56212687
shill

2 more weeks

>>56205521
FUDniggers at it again.

>>56205450
The death of Binance is VERY bullish for Bitcoin and a DISASTER for shitcoins.

EXIT ALL SHITCOINS

>>56205521
Kikes still seething that based CZ fucked their kike Bank-man over to keep the gibs flowing to Ukraine's launder scheme system.

>>56205450
Binance is 90% washtrading, i don't know anyone who still uses them. Lliterally nothing would happen if the exchange went down.

>>56226103
Well, you're right it's all wash trading, but so is all the rest of crypto. As far as effects? I think it's safe to say FTX but worse.

I have like $5000 in Binance. It's safe... right?

>>56226653
Would be safer to place it all on one freebitco bet judging the current situation

>>56226653
There's a chance you might be able to withdraw, but the window is getting smaller and smaller every minute. Binance has been targeting accounts for BS KYC checks and other shit for months.
I would try to get out now if I were you.

Binance is being crashed on purpose by CZ. He's replacing it with Injective.

>>56226653

FUNDS ARE SAFU!

https://www.youtube.com/watch?v=DelF6zEHXpE&themeRefresh=1

>>56226653
Get a fucking ledger

>>56205521
>chink makes one tweet and completely and utterly destroys jew wunderkind and even the kike's parents are going to be getting shit clawed back from
>jews are writing longer and longer and longer articles from every jew propaganda outlet trying hopelessly to take chink down

>>56205450
I've moved most of my crypto assets off CEXes with my stablecoins staked on SpoolFi, so I believe that I'm safe if Binance goes under

>>56226703
Trezor is better
>>56227542
That's a good DeFi middleware because of its measurable risk management system

>>56206184
Pepe is on the coinbase wallet which uses a dex. Go fud somewhere else faggot

>>56226103
Keep telling yourself that. It's not priced in

>>56205450
>One institutional trader told The Wall Street Journal that his company has conducted fire drills to withdraw its assets from Binance quickly in the event of a meltdown.
lmao crypto exchanges just take their website down, no withdraws

>>56205450
>The consequences on crypto would be terrible
You mean the Ponzi casino version of crypto that needs to die so that real use cases can start to emerge.

>>56228698
How can someone be this delusional? The fact is after almost 14 years of experimentation anything finance related that dealt with crypto ended up falling for the same pitfalls. The root cause is humanity. It was a nice attempt but it failed

>>56225225
If Binance goes down Bitcoin would crash at least 50%.
Sure, BTC will recover over time, but anyone expecting Binance to die should be in USD right now to buy at a massive discount.

>>56205450
This thread has been up for 3 days and still has less than 100 posts. Good job jannies, you "cleaned" the board real good.

>>56234469
I am not sure what you're tying to imply here.
Should this thread be deleted?
Censorship or not, you haven't seen all of Binance's troubles.
https://www.bankless.com/how-much-trouble-is-binance-in

>>56205450
>>56235283
Those articles and potential lawsuits are only talking Binance US. Great bait, you made me reply.

>>56236635
Scared eh? They're the same entity.

>>56205450
reddit spaced; didn't read

>>56234469
They did. All hail the janitorial staff

>>56237267
Binance rugged; didn't read

>>56205632
reddit spaced; didn't read

>>56205809
Newfags who hold their assets on CEXs are in for some BS. There's no touching my Egld, Matic, Ride, and Eth on my Ledger where I have full custody.

>>56205450
why do people still use these instead of something like bisq? these fuckers with their kyc crap ruined crypto

>>56205450
Who cares? Crypto will be healthier.

>>56205450
funny how they go after the chink by throwing shit at him in the hope some of it will stick, and at the same time, the kike pile of shit from FTX is allowed to keep on scamming.
Would be antisemitic to notice something here.

>>56205978
>cuz
>brown id
nigger detected

>>56219557
if you are such a retard (or just a regular zoomer) and get scammed, you deserve to lose it all. Its natural selection, so scammers are a good thing.
Stop making every aspect of life idiot-prooved, it's time idiots get filtered again, to not have to deal woth shit like wokies, trannies, zoomers and other subhumans.

>>56239317
>blames zoomers for being naive/retarded
>instead of the boomers whose role was to help them avoid making those mistakes
Not the brightest tool in the shed.

I won't even quote you faggot OP but you are probably the most retarded person on this website. I hope you're a jew drone and that you're paid for making this thread

>>56240254
Its a bot thread, like the majority of all posts itt

>>56240254
>>56240270
>no argument
>bot bot bot and other forms of namecalling
I accept your concessions. Don't forget to withdraw as much money as you can away from binance before it collapses. Not your keys, not your coins. Your funds aren't safu.

>>56240294
You are a shitcord socialist shizo
Thanks for identifying yourself.
Keep holding your crap ponzi pogs

>>56205632
DUDE HE CANT DO ANYTHING. HE HELD OUT AGAINST THE SEC FOR YEARS. ANYWAY BNB IS RESTRATEGIZING AND THE LARGEST STANDING EXCHANGE. PLUS IT HAS THE BEST WALLET PROTECTION OUT THERE.

>>56205450
>WSJ
Oy vey.

>>56205450
Binance is strong enough to handle anything. Judging from their criteria to list tokens, I legit feel NXRA should be listed by now.

>>56232482
>USD
No one is buying your bags Gary.

>>56205519
>>56205504
>>56205458
>>56205450
>>56237261
>>56237278
>>56239571
>>56240294
take your meds schizo

nmp

>>56205450
That's a whole lot of nothingburger

>>56205450
i bet binance is backed by the ccp

>>56205978
It actually does matter because the impact of Binance imploding will be worse than FTX. I took all my funds out from all CEXs after the unfortunate events with FTX and took them into self custody/Defi but the panic sales will affect the whole market.

>>56237903
>Ledger
>full custody
looool

>>56245279
Lol. You know nothing!!!!

>>56245289
It's easier to interact with CEX UIs compared to Defi. That explains why most crypto bros are still fully into Cefi.

>>56245486
Those crypto bros are just lazy asses and don't want to make any research to leave their comfort zones. Defi has gotten so easy to use now. Are you aware that on SpoolFi v1 any user can create a smart vault as a defi product that virtually anyone can leverage on? It even gets better because they're launching a v2 soon that'll have a better UI than v1.

What the fuck is wrong with this board and the moderation? A thread full of fake news FUD shouldn't be live for almost a week now. The absolute state of janitors

>>56245629
Heard this earlier. When is the ETA for that v2?

>>56245854
website hasn't been the same since m00t left but I don't see how it's related to binance dying and taking the entire crypto market with it

>>56245797
I'm thinking q4 though; there is no official date yet but I'm pretty sure the team will want to launch it before the end of the year.

>exchange that survived btc at 2k launching with btc at 10k will go bankrupt and scam you when btc is 27k
god some people on this board are irredimable

>>56248340
Is this fresh cope?
>Too big to fail!
Yep, looks like fresh cope.