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Political Pressure on Binance: A Threat to Decentralization and Financial Freedom

17 days ago - Introduction: A Political Probe into Crypto's Largest Exchange

In a stark escalation of political pressure on the cryptocurrency industry, eleven Senate Democrats have demanded the Trump administration's Justice Department and Treasury investigate Binance, the world's largest digital asset exchange.

The lawmakers, led by Senator Mark Warner and including prominent crypto-skeptic Elizabeth Warren, cite allegations that the platform facilitated billions in transactions ...

Binance is delisting privacy tokens in France, Spain, Poland and Italy

June 04, 2023 -

Starting June 26, Binance users in Spain, France, Poland and Italy will no longer be permitted to buy and sell enhanced anonymity crypto assets (CAE). The platform identified 12 coins that will be affected: Dash, Firo, XMR, Monero, Beam, Horizen, ZEC, Decred, Verge, Secret, MobileCoin, and PIVX.

These tokens are designed to hide information about their transactions to give users a greater level of privacy. Although cryptocurrencies are generally considered pseudonymous, ...

Govt. agency files complaint against crypto exchange Binance, alleging compliance violations

March 28, 2023 -

As reported by CNBC, the filing has the potential to disrupt the exchange's operations and may be the first move in a wider regulatory crackdown on the world's largest crypto exchange. In addition to disgorgement and other monetary penalties, the CFTC has asked the court to impose further relief, such as trading and registration bans.

According to the complaint Binance, Zhao, and Lim are alleged to have violated eight core provisions of the Commodity Exchange ...

Binance, an early FTX investor, linked to CCP, WEF and UN

November 24, 2022 -

Disgraced FTX CEO Samuel Bankman-Fried, whom the media is referring to as SBF, was the second-largest donor to the Democrat Party – the first being none other than George Soros. And Binance is tied to all this left-wing money laundering as well.

"The shambolic 30-year-old whiz kid, once said to have been worth $16 billion, had spent $10 million helping get Biden elected in 2020," reported the New York Post about SBF.

As for Binance, it was one ...

Binance cryptocurrency exchange pleads guilty to violating U.S. anti-money laundering laws

November 29, 2023 -

Binance submitted its plea before a federal court in Seattle, Washington on Nov. 21. As part of its guilty plea, the cryptocurrency company has agreed to pay a $50 million fine to the federal government – a fine that, interestingly enough, is separate from the $4.3 billion investigation resolution Binance has with the Department of Justice. (Related: 47 Nations combine forces to require automated tax authority monitoring of crypto trading data.)

As ...

Trump pardons Binance founder Changpeng Zhao amid White House’s U-turn on crypto

October 26, 2025 -

President Donald Trump granted a full pardon to Binance founder Changpeng "CZ" Zhao, the billionaire executive who served four months in prison for Bank Secrecy Act violations.

White House Press Secretary Karoline Leavitt confirmed the pardon Thursday, Oct. 23, telling reporters that Trump "exercised his constitutional authority by issuing a pardon for Zhao, who was prosecuted by the Biden administration in their war on cryptocurrency....

Binance strategy chief takes a swipe at FTX following the latter’s bankruptcy filing

November 17, 2022 -

"This is the direct result of a rogue actor breaking every single basic rule of fiscal responsibility," Binance Chief Strategy Officer Patrick Hillmann said in a statement given to the Wall Street Journal (WSJ). "While the rest of the industry operates under an extreme measure of scrutiny, the cult of personality shrouding FTX allowed them a dangerous level of privilege that wasn't earned."

Binance originally signed a letter of intent to acquire FTX ...

Report: Crypto exchange Binance still serving Iranian clients, allowing them to trade despite sanctions

November 10, 2022 -

With over 120 million users, Binance is the world's largest platform for exchanging cryptocurrency assets with fiat money or even with physical assets like gold and silver.

The allegations against Binance have come following a review of blockchain data by New York-based blockchain researcher Chainalysis. The firm found that some $7.8 billion worth of funds, either in crypto assets or in fiat money, flowed between Binance and Nobitex, Iran's ...

Emergency interview with John Perez as SWIFT cuts off Binance and global currency wars explode

January 23, 2023 -

This means that USD on ramps and off ramps from the Binance crypto hub will be cut off, prohibiting users from selling crypto tokens for dollars if such redemptions involve a bank wire transfer.

In effect, Binance is being de-platformed from the entire western banking and financial system in much the same way Russia was cut off from SWIFT. While Binance says it's looking for a new SWIFT partner, it's clear that western banking giants are now ...

Binance backs out of bailout plan to rescue FTX, causing further turmoil across crypto markets

November 10, 2022 -

Just months ago, FTX and its sister trading firm Alameda Research were two of the largest cryptocurrency firms in the world. Their 30-year-old founder and CEO, crypto trader and entrepreneur Sam Bankman-Fried, was one of the world's richest people. But following a liquidity crunch that virtually wiped out all of the company's value, he will be lucky to hold on to just some of his $24 billion fortune. (Related: "Crypto Nostradamus" John Perez: $2 trillion loss in value just ...

Crypto exchange giant Binance accused of seizing crypto funds of Palestinians at the behest of IDF

August 30, 2024 -

This allegation was first raised by Ray Youssef, founder and CEO of peer-to-peer bitcoin marketplace NoOnes, who wrote on X that "Binance has seized all funds from all Palestinians as per the request of the IDF. They refuse to return the funds. All appeals denied." (Related: Armed Israeli settlers attack West Bank village, burning down properties and killing a young Palestinian man.)

Youssef cited a letter allegedly sent by Paul Landes, head of Israel's National ...

Health Ranger Report: John Perez highlights the importance of having silver and gold as crypto collapses

November 17, 2022 -

According to Perez, the cryptocurrency Bitcoin has collapsed and lost 25 percent of its value. He attributed this to a conspiracy, explaining that investors' mindsets are to make money fast given that the entire crypto sector quickly made money. However, Perez remarked that this money is not actually real money.

The Health Ranger Mike Adams cited the example of cryptocurrency exchange firm FTX Trading Limited, which he said has been operating a huge digital Ponzi scheme....

The FALL of the CRYPTO CABAL: FTX was a massive money laundering slush fund for Democrats – ALERT – Apparent self-hack in progress to DRAIN all assets

November 12, 2022 -

Sam Bankman-Fried, the now discredited CEO of FTX (which declared bankruptcy on Friday), had funneled tens of millions of dollars to Dem candidates in the mid-term elections (including John Fetterman who narrowly "won" over Oz). As CNBC.com reported earlier this year, "Crypto billionaire says he could spend a record-breaking $1 billion in 2024 election."

Through FTX, Sam Bankman-Fried was the second largest donor to Democrat candidates this year, only behind George ...

Report: FTX utilized customer funds to prop up beleaguered Alameda Research

November 16, 2022 -

A Nov. 3 Reuters report elaborated on this claim, citing three people familiar with FTX operations. The sources said Bankman-Fried moved at least at least $4 billion in FTX funds secured by assets in aid of Alameda Research. While two sources disclosed that a portion of the money were customer deposits, the precise value of the assets could not be established.

One of the losses incurred by Alameda Research was a $500 million loan agreement with crypto lender Voyager ...

Recent regulatory crackdowns have crypto investors on edge

February 16, 2023 -

Until recently, regulators had not interfered much in the crypto industry. However, they have recently started cutting off access to services and products that are essential for the digital currency business.

This week, regulators in New York stopped new issues of BUSD, the world's third-biggest stablecoin, amid an ongoing probe. This led investors to flee the U.S. dollar-pegged coin and is causing major concerns about the future of the crypto exchange Binance; ...

Former multibillion-dollar crypto firm FTX files for bankruptcy

November 15, 2022 -

Bankman-Fried has been succeeded by John J. Ray III, though the outgoing chief will stay on to assist with the transition.

"The immediate relief of Chapter 11 is appropriate to provide the FTX Group the opportunity to assess its situation and develop a process to maximize recoveries for stakeholders," Ray said in the statement.

The move rippled through some 130 FTX-related companies, including large global crypto exchange FTX.com and FTX.US.

The Ontario ...

FTX collapse fallout: Crypto brokerage firm Genesis warns of possible bankruptcy

November 23, 2022 -

The company has warned potential investors that it may need to file for bankruptcy if its efforts to obtain fresh cash for its lending unit fail.

"We have no plans to file bankruptcy imminently," said one representative for Genesis in a statement emailed to media outlets. "Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors."

This rush for funding ...

South Korea requests Interpol red notice in search for disgraced crypto developer Do Kwon

September 23, 2022 -

Kwon’s company, Terraform Labs, is behind the algorithmic stablecoin as well as its sister cryptocurrency, Luna. TerraUSD’s failure set a chain of events into motion that spurred the big crypto crash this summer.

Kwon is reportedly nowhere to be found. The 31-year-old flew to Singapore, which does not have an extradition treaty with South Korea, around the same time that he dissolved Terraform Labs’ offices in Korea in late April, with his family and other personnel ...

Bitcoin stays steady amid global market chaos

April 09, 2025 -

As global markets experience unprecedented upheaval due to President Donald Trump’s sweeping tariffs, Bitcoin (BTC) is defying expectations and holding steady, even briefly topping 79,000. This unexpected resilience stands in stark contrast to the steep declines in the S&P 500 and Nasdaq, which have tumbled over 10% since April 2. It has also surpassed the hesitant performance of gold, the traditional safe-haven asset. The divergence highlights a pivotal ...

Solana’s value cut in half following FTX liquidity crisis

November 11, 2022 -

Earlier this month, FTX entered a downward spiral that saw the company's fortunes crumble to almost nothing within the span of days. Binance, a rival crypto exchange, initially offered to buy the company. But less than 48 hours later, the potential deal fell through, causing what little value the market still had for FTX to wither away. (Related: Binance backs out of bailout plan to rescue FTX, causing further turmoil across crypto markets.)

The problem ...