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The founder and CEO of Binance, Changpeng Zhao, announced his departure from the company as part of an agreement with U.S. regulators to settle an investigation. Richard Teng has taken over the position. Binance admitted violations of U.S. anti-money laundering laws and agreed to pay a fine of $4.36 billion. The U.S. Department of Justice cited failures in implementing programs against suspicious transactions with terrorists, including Hamas, Palestinian Islamic Jihad, Al Qaeda, and the Islamic State. Binance allowed transactions in sanctioned jurisdictions. Treasury Secretary Janet Yellen emphasized historic penalties. The company did not admit customer fraud or market manipulation, distancing itself from the FTX case. The agreement aims to preserve the exchange's ability to continue operations amid increasing government scrutiny in the crypto industry.
#binance
#changpengzhao
#cryptocurrency
#moneylaundering
#sanctions
#regulators
#settlement
#fine
#strategy
#janetyellensux
#treasurysecretary
#fraud
#marketmanipulation
#ftx
#government
#scrutiny
#breakingnews
#binance
#changpengzhao
#cryptocurrency
#moneylaundering
#sanctions
#regulators
#settlement
#fine
#strategy
#janetyellensux
#treasurysecretary
#fraud
#marketmanipulation
#ftx
#government
#scrutiny
#breakingnews
Former crypto-billionaire Sam Bankman-Fried, awaiting sentencing on seven felony counts including wire fraud and money laundering, has adapted to the economic system of the Metropolitan Detention Center in New York. In exchange for services, he reportedly paid for a haircut with packaged mackerel, a preferred currency among inmates. Bankman-Fried, the disgraced founder of FTX crypto exchange, is familiar with trading commodities, having been a professional trader throughout his career. The use of mackerel as currency in prisons has a history, dating back to 2004 when cigarettes were banned. This trend is driven by the economic logic of using stable-value items like food as a substitute for inaccessible currency in prison. Facing a potential 110 years in prison, Bankman-Fried is set to be sentenced on March 28, 2024, and is also awaiting trial on separate charges related to political bribery.
#sambankmanfried #ftx #cryptocurrency #prisoncurrency
#mackerel #moneylaundering #prisonlife
#economics #justice #cryptonews #news
#sambankmanfried #ftx #cryptocurrency #prisoncurrency
#mackerel #moneylaundering #prisonlife
#economics #justice #cryptonews #news
The American congressman Tom Emmer leveled harsh criticism against SEC President Gary Gensler, alleging that he was ineffective in failing to prevent fraudulent cryptocurrency companies from harming American investors during his tenure. Emmer argued that, while the SEC pursued companies attempting to operate honestly, it was unable to stop fraudulent entities. He also strongly criticized the absence of clear rules for the digital asset sector, pointing out that honest companies face legal proceedings or restrictions due to issues that are not yet regulated.
#cryptocurrency #bitcoin #ethereum #altcoins #decentralizedfinance #defi #blockchain #technology #finance #investment #consumersafety #regulation #USCongress #TomEmmer #GaryGensler #government #politics #economy #cryptoregulation #fraud #scams #cryptosecurity #cryptoprotection #investingtips #cryptoinvesting #financialeducation #cryptocommunity #cryptonews
#cryptocurrency #bitcoin #ethereum #altcoins #decentralizedfinance #defi #blockchain #technology #finance #investment #consumersafety #regulation #USCongress #TomEmmer #GaryGensler #government #politics #economy #cryptoregulation #fraud #scams #cryptosecurity #cryptoprotection #investingtips #cryptoinvesting #financialeducation #cryptocommunity #cryptonews
Michael Burry, acclaimed for his role in the film 'The Big Short,' has recently exited a short position on the American stock markets, resulting in substantial losses exceeding 40%, totaling $640 million. Initially, Burry had invested over $1.6 billion in the opposing bet.
Burry gained fame by foreseeing the real estate bubble in the United States before the 2008 crisis, profiting considerably from a successful bet against subprime mortgage-backed securities at that time.
The unfavorable results were disclosed in a report submitted to the Securities and Exchange Commission (SEC) by Burry's management. Faced with defeat, the investor liquidated a significant portion of his holdings, given that he had invested 95% of the amount in the short position against the markets.
Following the disastrous performance, Burry is redirecting his investments towards the semiconductor sector. According to Reuters, the investor has allocated approximately $50 million to the iShares Semiconductor ETF (SOXX.O), which focuses its investments in this market segment.
#michaelburry #thebigshort #shortsqueeze #stockmarketcrash #financialcrisis #investing #semiconductors #techstocks #wallstreet #economicforecast #hedgefund #investmentstrategy #financenews #business #money
Burry gained fame by foreseeing the real estate bubble in the United States before the 2008 crisis, profiting considerably from a successful bet against subprime mortgage-backed securities at that time.
The unfavorable results were disclosed in a report submitted to the Securities and Exchange Commission (SEC) by Burry's management. Faced with defeat, the investor liquidated a significant portion of his holdings, given that he had invested 95% of the amount in the short position against the markets.
Following the disastrous performance, Burry is redirecting his investments towards the semiconductor sector. According to Reuters, the investor has allocated approximately $50 million to the iShares Semiconductor ETF (SOXX.O), which focuses its investments in this market segment.
#michaelburry #thebigshort #shortsqueeze #stockmarketcrash #financialcrisis #investing #semiconductors #techstocks #wallstreet #economicforecast #hedgefund #investmentstrategy #financenews #business #money
Sam Bankman-Fried's father expressed dissatisfaction with his $200,000 salary at the now-defunct FTX crypto exchange, leading to a lawsuit accusing Joseph Bankman and Barbara Fried of diverting millions from FTX. The legal action detailed Bankman's grievance to his son about his pay, prompting involvement from Fried. Emails revealed Bankman's complaint of receiving only $16,667 per month when expecting $1 million annually. He turned to his son, co-founder and CEO, seeking clarity. FTX lawyers claimed Bankman influenced his son to increase their salaries, resulting in a $10 million gift and a $16.4 million property in The Bahamas funded by FTX. The lawsuit also accused Bankman of donating $5.5 million to Stanford University for personal gain. No immediate response was received from their legal representatives.
#sambankmanfried #ftx #ftxarena #ftxexchange #ftxbankruptcy #josephbankman #alamedaresearch #ftxus #carolineelison #scandal #ftxgroup #cryptocurrencynews #insidernews #scamer
#sambankmanfried #ftx #ftxarena #ftxexchange #ftxbankruptcy #josephbankman #alamedaresearch #ftxus #carolineelison #scandal #ftxgroup #cryptocurrencynews #insidernews #scamer
Sam Bankman-Fried, a cryptocurrency entrepreneur, harbored ambitions of one day reaching the presidency of the United States, as revealed by his former girlfriend and ex-CEO of Alameda Research, Caroline Ellison, during her testimony in a Manhattan courtroom this past Tuesday.
It's worth noting that, up to that point, Bankman-Fried had not publicly expressed personal political ambitions. According to Ellison's testimony, he believed that political donations were a shrewd investment, with his multi-million-dollar contributions to President Joe Biden's 2020 campaign perceived as a source of substantial recognition.
Last week, it was revealed that Bankman-Fried, the co-founder of FTX, even contemplated the notion of paying former President Donald Trump not to run in the 2024 presidential elections. The sum discussed was a staggering $5 billion, although it remains unclear whether the proposal directly originated from Trump. A spokesperson for the former president stated that SBF had been "exposed as a fraudster and an untrustworthy individual.
#sambankmanfried
#cryptocurrencyentrepreneur
#uspresidentialambitions
#carolineellison
#political
#joebidencampaign
#politicaldonations
#ftxcofounder
#2024presidentialelections
#donaldtrump2024
#sbfexposure
#presidentialrace
#campaigncontributions
#politicalrevelations
#cryptonews
It's worth noting that, up to that point, Bankman-Fried had not publicly expressed personal political ambitions. According to Ellison's testimony, he believed that political donations were a shrewd investment, with his multi-million-dollar contributions to President Joe Biden's 2020 campaign perceived as a source of substantial recognition.
Last week, it was revealed that Bankman-Fried, the co-founder of FTX, even contemplated the notion of paying former President Donald Trump not to run in the 2024 presidential elections. The sum discussed was a staggering $5 billion, although it remains unclear whether the proposal directly originated from Trump. A spokesperson for the former president stated that SBF had been "exposed as a fraudster and an untrustworthy individual.
#sambankmanfried
#cryptocurrencyentrepreneur
#uspresidentialambitions
#carolineellison
#political
#joebidencampaign
#politicaldonations
#ftxcofounder
#2024presidentialelections
#donaldtrump2024
#sbfexposure
#presidentialrace
#campaigncontributions
#politicalrevelations
#cryptonews
From Satoshi Nakamoto, the anonymous genius behind Bitcoin, to Vitalik Buterin, the mastermind behind Ethereum, and other inspiring leaders. Who do you think had the greatest impact?
#satoshinakamoto
#vitalikbuterin
#changpengzhao
#bradleygarlinghouse
#jeremyallaire
#anatolyyakovenko
#charleshoskinson
#justinsuntron
#bitcoin
#ethereum
#binancecoin
#ripple
#usdcoin
#solana
#cardano
#tron
#cryptocurrencies
#blockchain
#crypto
#financialinnovation
#digitalinvestment
#digitaltechnology
#cryptoassets
#satoshinakamoto
#vitalikbuterin
#changpengzhao
#bradleygarlinghouse
#jeremyallaire
#anatolyyakovenko
#charleshoskinson
#justinsuntron
#bitcoin
#ethereum
#binancecoin
#ripple
#usdcoin
#solana
#cardano
#tron
#cryptocurrencies
#blockchain
#crypto
#financialinnovation
#digitalinvestment
#digitaltechnology
#cryptoassets
DigiCash, founded by David Chaum in 1989, was an innovative company that played a pivotal role in the development of digital currencies and cutting-edge cryptography. David Chaum, a renowned cryptographer and a trailblazer in digital privacy, had a vision to create a secure and anonymous electronic payment system.
DigiCash's flagship product was "eCash," a digital currency that enabled online financial transactions while ensuring user privacy. The technology behind eCash utilized blind signatures and zero-knowledge proofs to protect individuals' financial information.
While DigiCash's concept was revolutionary and pioneering, the company faced market challenges and ceased its operations in 1998 due to financial difficulties and a lack of widespread adoption. However, DigiCash's legacy lives on in the technologies and concepts that influenced the subsequent development of cryptocurrencies and electronic payment systems, particularly with regard to privacy and security.
Although DigiCash didn't achieve commercial success at the time, its vision for secure and anonymous digital currencies served as an inspiration for many other innovators in the field of cryptocurrencies and blockchain technology. DigiCash's story underscores the importance of exploring new approaches and solutions to the financial and technological challenges of the modern world.
#cryptocurrency
#bitcoin
#blockchain
#crypto
#ethereum
#investment
#digitalcurrency
#hodl
#altcoins
#defi
#nft
#tradingcrypto
#mining
#cryptonews
#cryptocommunity
#wallet
#exchange
#smartcontracts
#cryptocurrencymarket
#technology
DigiCash's flagship product was "eCash," a digital currency that enabled online financial transactions while ensuring user privacy. The technology behind eCash utilized blind signatures and zero-knowledge proofs to protect individuals' financial information.
While DigiCash's concept was revolutionary and pioneering, the company faced market challenges and ceased its operations in 1998 due to financial difficulties and a lack of widespread adoption. However, DigiCash's legacy lives on in the technologies and concepts that influenced the subsequent development of cryptocurrencies and electronic payment systems, particularly with regard to privacy and security.
Although DigiCash didn't achieve commercial success at the time, its vision for secure and anonymous digital currencies served as an inspiration for many other innovators in the field of cryptocurrencies and blockchain technology. DigiCash's story underscores the importance of exploring new approaches and solutions to the financial and technological challenges of the modern world.
#cryptocurrency
#bitcoin
#blockchain
#crypto
#ethereum
#investment
#digitalcurrency
#hodl
#altcoins
#defi
#nft
#tradingcrypto
#mining
#cryptonews
#cryptocommunity
#wallet
#exchange
#smartcontracts
#cryptocurrencymarket
#technology
Discover who is leading the world of cryptocurrencies in 2023! 💰🚀 Here are the top 10 industry influencers. 👇
1 - Changpeng Zhao @changpengzhao
2 - Jack Dorsey
3 - Nayib Bukele @nayibbukele
4 - Vitalik Buterin @vitalik.eth.official
5 - Justin Sun @justinsun
6 - Michael Saylor @michael_saylor
7 - Plan B
8 - Anthony Pompliano
9 - MM Crypto
10 - Carl Runefelt @themooncarl
These brilliant minds are shaping the future of cryptocurrencies! 🌟
#changpengzhao #jackdorsey #nayibbukele #vitalikbuterin #justinsun #michaelsaylor #planb #anthonypompliano #mmcrypto #carlrunefelt #themoon #influencers #cz #cryptoinfluencers #ranking #topinfluencers #cryptos2023
1 - Changpeng Zhao @changpengzhao
2 - Jack Dorsey
3 - Nayib Bukele @nayibbukele
4 - Vitalik Buterin @vitalik.eth.official
5 - Justin Sun @justinsun
6 - Michael Saylor @michael_saylor
7 - Plan B
8 - Anthony Pompliano
9 - MM Crypto
10 - Carl Runefelt @themooncarl
These brilliant minds are shaping the future of cryptocurrencies! 🌟
#changpengzhao #jackdorsey #nayibbukele #vitalikbuterin #justinsun #michaelsaylor #planb #anthonypompliano #mmcrypto #carlrunefelt #themoon #influencers #cz #cryptoinfluencers #ranking #topinfluencers #cryptos2023
SEC Commissioner Hester Pierce, affectionately known as "Crypto Mom," has voiced her conviction that a spot Bitcoin ETF should have been granted approval half a decade ago. She remarked, "The rationale behind the non-approval of a spot Bitcoin ETF has always left me perplexed."
Pierce also recognized Grayscale's triumph as a pivotal milestone within the industry but underlined that the final verdict isn't hers to make. This significant turn of events unfolded on August 29th when the company clinched a victory in its prolonged legal tussle with the SEC. The court determined the regulatory body's rejection of Grayscale's ETF proposal as "unwarranted and arbitrary," as it failed to furnish a cogent explanation for treating akin products disparately. Crypto Mom's standpoint on the issue serves as a poignant reminder of a statement issued in August by former SEC official John Reed Stark, who expounded upon partisan concerns within the commission.
According to Stark's perspective, the divisive landscape encompassing cryptocurrency at the SEC has reached a juncture where only a Republican elected as President in 2024 could potentially deliver the much-needed respite to the crypto sector.
With respect to Hester Pierce, Stark observed, "If Hester Pierce were to assume the role of interim SEC chair, given her long-standing record of dissent and opposition against the majority of SEC actions tied to cryptocurrencies, it is conceivable that most of the U.S. SEC's cryptocurrency-related enforcement and disruptive measures could witness a stark reduction."
Nonetheless, Commissioner Pierce concedes that the agency has been less proficient in its handling of Bitcoin and digital currencies. #cryptomom #sec #bitcoinetf #bitcoinetfreview #grayscale #cryptocurrency #regulation #cryptoindustry #cryptonews #cryptoregulation #bitcoin #blockchain #bitcoinnews #hodl #investing
Pierce also recognized Grayscale's triumph as a pivotal milestone within the industry but underlined that the final verdict isn't hers to make. This significant turn of events unfolded on August 29th when the company clinched a victory in its prolonged legal tussle with the SEC. The court determined the regulatory body's rejection of Grayscale's ETF proposal as "unwarranted and arbitrary," as it failed to furnish a cogent explanation for treating akin products disparately. Crypto Mom's standpoint on the issue serves as a poignant reminder of a statement issued in August by former SEC official John Reed Stark, who expounded upon partisan concerns within the commission.
According to Stark's perspective, the divisive landscape encompassing cryptocurrency at the SEC has reached a juncture where only a Republican elected as President in 2024 could potentially deliver the much-needed respite to the crypto sector.
With respect to Hester Pierce, Stark observed, "If Hester Pierce were to assume the role of interim SEC chair, given her long-standing record of dissent and opposition against the majority of SEC actions tied to cryptocurrencies, it is conceivable that most of the U.S. SEC's cryptocurrency-related enforcement and disruptive measures could witness a stark reduction."
Nonetheless, Commissioner Pierce concedes that the agency has been less proficient in its handling of Bitcoin and digital currencies. #cryptomom #sec #bitcoinetf #bitcoinetfreview #grayscale #cryptocurrency #regulation #cryptoindustry #cryptonews #cryptoregulation #bitcoin #blockchain #bitcoinnews #hodl #investing
The 10 Richest in the Cryptocurrency Market
#elonmusk #spacex #tesla #bitcoin #blockchain #satoshinakamoto #changpengzhao #cz #binance #brianarmstrong #coinbase #chrislarsen #ripple #xrp #jedmccaleb #stellar #xlm #nikilviswanathan #yikyak #winklevoss #cameronwinklevoss #tylerwinklevoss #michaelsaylor #microstrategy #entrepreneurship #business #success #leadership #innovation #motivation #strategy #startups #founder
#elonmusk #spacex #tesla #bitcoin #blockchain #satoshinakamoto #changpengzhao #cz #binance #brianarmstrong #coinbase #chrislarsen #ripple #xrp #jedmccaleb #stellar #xlm #nikilviswanathan #yikyak #winklevoss #cameronwinklevoss #tylerwinklevoss #michaelsaylor #microstrategy #entrepreneurship #business #success #leadership #innovation #motivation #strategy #startups #founder