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Proposed SEC order to freeze, repatriate Binance.US assets
- rr808 3y ago[flagged]
- dogleash 3y agoYeah, ofc, just don't do business there / with Americans. It's not hard. You just have to exclude them, not secretly help them around your make-believe georestriction.
- latchkey 3y agoIt seems that America is doing that itself already.
- IAmGraydon 3y ago[flagged]
- NikolaNovak 3y agoCanadians too, please! (I'm in Toronto :-)
- bawolff 3y agoKind of ironic with all the posturing crypto does about being immune from state/centralized pressure.
- tim333 3y agoCryptocurrencies like bitcoin are globally decentralized. Individual countries may make laws against them as they like but if say the US bans bitcoin trading you can always trade them somewhere else. Binance.com still goes on, it's Binance US where they are freezing the assets.
- lxgr 3y agoThere’s a fairly straightforward way to stay out of SEC jurisdiction: Don’t sell to US retail investors (including “not selling to US customers, but wink wink have you ever heard of VPNs?”).
- tibbydudeza 3y agoDing dong crypto is dead -- good riddance - now all the blockchain "experts" can rebrand themselves as "AI" experts :).
- darawk 3y agoLots of things are scams in crypto, but Binance is not one of them. The allegations that they misappropriated user funds in any material way are absurd. They didn't. They have never had any serious problems meeting redemptions or withdrawals in any of their products, and despite this lawsuit dropping and the asset freeze being granted by the court, still aren't. If they were insolvent, withdrawals would have been frozen a long time ago. This is a political stunt. Nothing more. Some helpful context: https://twitter.com/superanonymousk/status/1666637227323998210 https://twitter.com/superanonymousk/status/16666372273239982... Gensler is a man who's overtures to work for Binance were spurned. He came into power at the SEC, and then he went after them, literally since the day he entered office. They were originally going to drop this case right when FTX blew up, but they knew how bad the optics of that would be, so they waited. This isn't someone impartial, looking out for investors. This is someone spiteful, looking out for himself. If he wanted to protect people, he'd have done this when the market was hot. That's when investors need protection. That's when a good regulator acts - when a market is overexcited and people are being exploited. Who, exactly, is being protected now? From what?
- MagicMoonlight 3y agoThat’s what you say about every scam company lmao
- darawk 3y agoEvery company I've said that about is still operating smoothly to this day.
- xwolfi 3y agoWho's Binance's auditor ?
- darawk 3y agoThe fact that they are still processing withdrawals is all the audit anyone who understands these things needs.
- 3y ago
- majestic5762 3y agoThe solution to this problem is: - ban centralized exchanges - enforce stable coins to have their own coin-to-fiat exchange - allow only decentralized exchanges that can operate only if they implement some interoperability standards like dex-to-dex bridges - allow coins on decentralized exchanges only if they implement interoperability standards like blockchain-to-blockchain bridges Now everybody can safely swap and transfer coins on whatever dex. If they want to cash out, swap again for usdt, then go to usdt official exchange and get your $.
- lordfrito 3y agoAfter everything that's happened in this space, the number of "true believers" I'm seeing here is astounding to me. After a decade of use the tech hasn't found many real world uses beyond gambling, drugs, confidence schemes, money laundering, tax evasion, and other financial criminality. This is 100% the community's fault, as they're the ones burning a lot of real world capital to build this stuff but have very little real value to show for it at the end of the day. I believe in creative destruction, this is just destructive destruction of capital. Meanwhile the rest of the world is rapidly catching up. I have no trouble sending fiat money where I need to at the click of a button, with fraud and clawback protections in place. No chance of accidentally losing my savings, etc. I don't understand how intelligent people can continue to believe this stuff is the future of finance. All signs point to this being a big nothingburger, crypto utopianism works great in theory but not in practice. The sooner this dream dies the better. I guess it's something something human nature. I guess it's why we can't have nice things as a species. sigh
- jc_811 3y agoThis is a great comment, I’ve always thought that the huge blind spot of true believers is that if something looks good on paper, it does not automatically mean it will transfer into the real world. Crypto currency would work terrific in a society with fixed rules, unchanging laws & regulations, and constant rule followers. In other words, this would be amazing in a society filled with robots. Humans are not that. Humans are error-prone, emotional, conscious, questioning, moral, and very special creatures. No matter how strong your passwords are, how “offline” your crypto wallets be, or how hacker proof your crypto holdings are - this doesn’t matter! All someone has to do is break into your house, hold a gun to your head and say “transfer your entire bitcoin holdings right now or we kill you”. Just like that you lose your entire life savings with absolutely no recourse or chance to reverse anything. We are immediately faced with an undeniable human issue. A human is breaking the rules of society. A human is fraudulently taking something that is not theirs. A human is using the threat of physical violence in the real world. Not only is Crypto/blockchain technology not equipped to handle this situation, not being able to do anything about this situation is a fundamental feature of the ecosystem.
- unyttigfjelltol 3y agoEmbarrassed to say, this article was wrong. The journalist had found an unsigned proposed order, which was linked in the body, and misunderstood who wrote the document and its meaning. Apologies for posting it, was not aware it was factually incorrect.
- dang 3y agoThanks! It happens. I've changed the title. Is it ok now? (Submitted title was "SEC granted emergency restraining order to freeze, repatriate Binance.US assets")
- slater 3y agoDirect link to SEC press release: https://www.sec.gov/news/press-release/2023-103 https://www.sec.gov/news/press-release/2023-103
- EMCymatics 3y agoBetter late than never.
- allears 3y agoWell, there goes crypto. With this precedent, Coinbase is next. Bitcoin will probably survive, but the landscape will change radically.
- capableweb 3y agoCoinbase and Binance acted/acts very differently. Binance basically throw their hands in the air saying "well, whatever, it's illegal so whatever we do is illegal, so lets just do whatever" while Coinbase been acting as they are trying to follow the law as much as they could, while still operating an exchange. Not saying one is more illegal/legal than the other, but they certainly acted differently.
- tararara 3y agoDo you have any insights into why they act like this? Is it the founders vision?
- aikinai 3y agoThat’s the strategy they explicitly chose. Probably because of the founder’s preference or vision. They wanted to position themselves as the legal crypto exchange which is a great differentiation in that market.
- ignoramous 3y ago> position themselves as the legal crypto Not saying that it couldn't be, but the greatest trick the devil ever pulled was convincing the world he didn't exist.
- px43 3y agoCoinbase acts like this because it was founded from day one to serve the US market, and everything that it has done has been to invest millions of dollars a year into complying with US law. Coinbase has only in the past couple months, started expanding internationally so they don't die immediately in case the US regulatory system decides to cannibalize them. Binance acts like this because complying with US law is ridiculously expensive. Binance cares most about serving the remaining 95% of humanity that does not live in the US. Maybe seven years or so ago they really started shifting things around so their US services are expendable, and could be jettisoned at any moment if US regulators start biting. Both are entirely reasonable strategies, and it's why I, as a US citizen, moved everything I had in Binanace away 7 or so years ago, and only ever do anything custodial with Coinbase. Back in the before times, I had accounts across multiple global exchanges so I could run arbitrage bots etc, but now it's basically Coinbase or nothing when it comes to custodial exchanges.
- djfergus 3y agoFYI Binance Australia had their banking removed from 1 June. Screws are tightning globally. Assuming coinbase gets taken down too, do Americans have any options left to convert their crypto to fiat? Or do they need to perform offshore transactions?
- yieldcrv 3y agoPayPal, CashApp, Kraken, many OTC trade desks https://cointelegraph.com/news/sec-coinbase-binance-lawsuits-surge-defi-trading-volumes https://cointelegraph.com/news/sec-coinbase-binance-lawsuits... Just convert whatever you want to Bitcoin and Ethereum first in a decentralized exchange like any AMM, and then sell the Bitcoin or Ethereum on a fiat route. Assuming you even want fiat, but when you do you can.
- deleted 3y ago[deleted]
- dmingod666 3y agoWonder if SBF has something to do with this in the background
- dontupvoteme 3y agoHe's getting off easy but he still went too far and swindled too many/the wrong people This is probably due to dedollarization and abject terror within the americans who don't know of a pre-1956 world order
- thawab 3y agodoubt it, they already have Binance US CEO A and CEO B cooperating.
- jjulius 3y agoYou mean the guy who's actively not cooperating and whose former coworkers (and girlfriend) have begun to cooperate with the government against him? That's the guy who had something to do with helping the SEC bring charges against Binance?
- WatchDog 3y agoThis is good for bitcoin.
- redleader55 3y agoIf you can't exchange it for fiat, its USD value is going to decrease - bad. If you can't exchange it, payments that don't use fiat might be developed - good, imo. Why do you think this makes it a net good?
- andrewstuart2 3y agoPretty sure they're referencing the meme that everything is good for bitcoin even when it's very clearly bad.
- Vervious 3y agothe op seems very unironic about it though
- clint 3y agoThat's the joke
- EdwardDiego 3y agoFew understand.
- elkos 3y agoi think it is a meme!
- kurthr 3y agoAround since before Mt Gox implosion/hack. https://knowyourmeme.com/memes/this-is-good-for-bitcoin https://knowyourmeme.com/memes/this-is-good-for-bitcoin
- silisili 3y agoI'm pretty anti-crypto, but tested the water with Voyager USDC because of the absurd APY. Took my money and ran when Celsius hinted at having issues, luckily. Funnily enough there was some amount, less than a dollar IIRC, left in Voyager when they folded. I received an email telling me it was being taken over by...Binance. Never bothered to login and even check it. Guess it really is scams all the way down.
- EscapeFromNY 3y agoThe USP of cryptocurrency is the ability to self-custody. If you sent your money to a company like Voyager, instead of controlling your keys yourself, you missed the point.
- wmf 3y agoIt's really not though. The point was to get rich and if you can get rich quicker in a custodial pump-and-dump than in a self-custodied decentralized boiler room... you might as well.
- EscapeFromNY 3y agoThere's nothing in the bitcoin whitepaper about getting rich quick. If that's your goal, go ahead and send your money to FTX, Luna, Voyager, or Binance. But that's not my goal. I'm here so I can have self-sovereignty of my money.
- fladrif 3y ago> I'm here so I can have self-sovereignty of my money. Except you aren't really. You will always be beholden to one entity or another, in bitcoin the 51% who need to clear your transactions. You just decide to not trust in the current financial apparatus and instead bet on the new.
- saurik 3y agoBetting on something where there is no single interest that can decide to screw you is fundamentally different than trusting something where one entity is in control. In a more principled world, I'd like to think the latter would never exist and people would be willing to go to great lengths to avoid or even protest against its existence.
- reedofearth 3y agoLast time the SEC did this: “I was told by the banks that if I did not agree to settle with the SEC, that they would, the banks would, cease providing working capital and Tesla would go bankrupt immediately” Elon Musk @ TED in Vancouver Also from TuongVy Le(@TuongvyLe12), former Chief Counsel at SEC: "Let’s be clear: the @SECGov complaint doesn’t mention this, but there is currently NO way for a platform like @coinbase to register as a securities exchange, broker, or clearing agent. That’s why they’ve been begging @SECGov for YEARS to give them a path to compliance. Instead of working constructively with U.S. market participants to come up with a working model, and knowing that Congress is actively considering legislation to do the same, SEC sues. No allegations of fraud, just accusing @coinbase of failing to do the impossible."
- elkos 3y agoWould trading only Bitcoin and Ethereum which last time i checked aren't securities be a probable way out of this mess for Coinbase?
- wmf 3y agoYeah, but then they'd go out of business due to lack of revenue.
- polygamous_bat 3y agoThankfully, it's not SEC's job to ensure your business model of regulatory arbitrage is a viable one.
- jjulius 3y ago... okay?
- Tesl 3y agoEven better
- px43 3y ago[flagged]
- EdwardDiego 3y agoSure.
- NotYourLawyer 3y agoThat seems… implausible.
- latchkey 3y agoWhy? Up until recently, he was shilling algorand and teaching courses on Bitcoin at MIT. https://cointelegraph.com/news/video-of-sec-chair-praising-algorand-resurfaces-after-recently-deeming-it-a-security https://cointelegraph.com/news/video-of-sec-chair-praising-a...
- polygamous_bat 3y agoI couldn't find anything in that article that points to the veracity of that claim except from Binance itself. How reliable is that? And if it's true why are they only coming out with it now, instead of before all of these went down?
- clint 3y ago[flagged]
- dang 3y agoPlease don't cross into personal attack or call names on HN. If another comment is wrong, it's good to explain how it is wrong, in a neutral way that we all can learn from. Also fine to just chalk it up to the internet being wrong and not reply. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- deleted 3y ago[deleted]
- lvl102 3y agoBitcoin solves this. Sorry I just had to. I think crypto as an investable asset class is finished. SEC is sending a very clear signal here. It’s entirely the community’s fault for failing to properly manage this space. They actually earned public’s trust (sometime during the pandemic). And then they threw it all away for a few bucks.
- olalonde 3y agoI feel like I might have heard this before: https://99bitcoins.com/bitcoin-obituaries/ https://99bitcoins.com/bitcoin-obituaries/
- bitcoin_anon 3y ago> Bitcoin solves this. Indeed. Bitcoin is the only cryptocurrency that the powers have deemed a commodity. The rest are securities.
- agentgumshoe 3y agoImagine if you couldn't buy with or redeem USD (et al) with Bitcoin. That's the only way Bitcoin could 'solve' whatever the issue is. Now let's talk use cases.
- samstave 3y agoWe should keep a record of all the crypto failures / scams / people dying in weird ways on some sort of blockhain
- cozzyd 3y agoFuckedcoin?
- jeremyjh 3y agoI'm in.
- imtringued 3y agoThe list is too long.
- dontupvoteme 3y agoThey didn't go after bankman nearly this much, interesting.
- elkos 3y agoI'm honestly curious, at first glance this looks that could potentially affect cryptocurrencies in a sizable way downwards. I checked CoinMarketCap and it seems that the trend is comparatively stable. Can someone explain this? Please do take into account that I'm not very well versed with cryptocurrencies and I usually need an explainer in several financial concepts.
- EscapeFromNY 3y agoBinance is an exchange, and exchanges are not needed for cryptocurrency to work. They just make it easier to enter/exit the ecosystem.
- deleted 3y ago[deleted]
- unyttigfjelltol 3y agoWithout exchanges, you would be justified to use crypto to buy pizza again.
- ISL 3y agoI never found a way to buy pizza with crypto without maintaining a FIFO ledger I could file with the IRS detailing every single transaction. Without that onerous administrative tax-compliance requirement, I'd have made many purchases with bitcoin.
- dontupvoteme 3y agoThe americans were priced in.
- dthakur 3y agoCoinMarketCap is owned by CZ. I’m not claiming anything malicious, just FYI.
- crtified 3y agoYour assumption could come to pass. It's not a certainty. Keep in mind that these squabbles center around ownership, custody and handling - not seeking to destroy, or to cast the assets themselves as 'bad' per se.
- vagab0nd 3y agoIronically, this is why we need crypto.
- olliej 3y agoI'm surprised that this kind of "emergency restraining order" seems to have taken days.
- epa 3y agoNot your keys, not your coins
- I_am_tiberius 3y agoGary Gensler yesterday argued on live television that digital currency already exists and therefore there's no reason for crypto to exist. Moreover, in the House hearing some months back he said that it's not crypto that will change the world, but AI. I don't have any kind of facts for this but my believe is that the Biden admin feels that crypto currencies devalue the US Dollar and therefore considers them threatening. So they're going after them. If that true, this might be a big opportunity for other countries and regions in the world to get ahead of the US. Also, I feel the US has anyway too much influence in the world. So I see this as a positive for the world as a whole.
- jjulius 3y ago>So I see this as a positive for the world as a whole. Yes, scammy cryptocurrencies being called on their bullshit is a positive for the world.
- I_am_tiberius 3y agoCan you give some context? Do you mean a specific one that is a scam? Or do you refer to scammers that use cryptocurrencies as a medium of exchange?
- lazzlazzlazz 3y agoBinance, a centralized exchange like FTX, requires your trust in order to hold your assets. Hacker News will hate this — but this is why decentralized exchanges like Uniswap exist. Uniswap already does more volume that most centralized exchanges, all without every taking custody of assets. Unironically, crypto fixes this, by allowing for self-custody and trustless exchange using verifiable programs (like Uniswap).
- nextworddev 3y agoI’m a long term skeptic (but opportunistic trader of BTC) - this level of extreme pessimism on HN has historically preceded rallies. Of course, this time can be different.
- kfarr 3y agoI don’t think regulatory crackdown historically precedes rallies, but I’m no finance expert
- rafale 3y agoIt certainly didn't for online poker.
- lamontcg 3y agoYou should probably wait until you see how much damage the Feds can actually do to Binance and crypto prices. If they could actually damage Binance enough that it fails that would substantially damage crypto prices. Remains to be seen if they're going to do something toothless again or if they're actually not fucking around this time.
- nextworddev 3y agoYeah I always let price action speak. None of us “know”. Agreed that we might have a regime shift.
- ac29 3y agoThe article title is incorrect, this restraining order has been requested by the SEC, not granted yet. Its a bit confusing because the submitted order is a proposal of how a order could be given by a judge, but is still full of important blank information like the name of the judge, the date, etc.
- phire 3y agoTitle appears to be correct: "Later on Tuesday, a filing from the United States District Court for the District Of Columbia showed that the court had agreed to grant the SEC’s demands."
- ac29 3y agoNope, look at the filing: https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.4.1.pdf https://storage.courtlistener.com/recap/gov.uscourts.dcd.256... Its a proposed order. for those who dont want to click through, its full of stuff like this: "IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Defendants show cause, if any, before the Honorable __________ of this Court, at __ o’clock _.m., on the __ day of ____, 2023, in Courtroom _____, United States Courthouse"
- tedunangst 3y agoFirst time court tourists are often surprised that you can write your own order for the judge to sign, and it sure sounds official, but it's missing the magic signature that makes it go.
- gpm 3y agoI think the author of the article misunderstood. In the article the words "a filing" link to attachment 1 to docket entry 4, titled "Text of Proposed Order" Further the docket indicates that sometime today (Wednesday) the court scheduled a hearing on the 13th to consider this motion (docket entry 4). https://www.courtlistener.com/docket/67474542/securities-and-exchange-commission-v-binance-holdings-limited/?filed_after=&filed_before=&entry_gte=&entry_lte=&order_by=desc https://www.courtlistener.com/docket/67474542/securities-and... As tedunangst says below, this is common and doesn't mean the judge agreed with you. It just makes it procedurally easy for the judge to agree with you. The judge might not sign it at all. Might edit it and then sign it. Might write their own version that says something else. Etc.
- willmadden 3y agoThey've requested an emergency restraining order. It has not been granted.
- WeylandYutani 3y agoThis thing still going? I thought we'd moved on to AI.
- thepasswordis 3y ago[flagged]
- jasonhansel 3y agoGary Gensler isn't targeting individual crypto users. He isn't even targeting Bitcoin; these suits are related to other coins that fall under ordinary, existing securities regulations. This is just routine civil law enforcement of the sort that occurs in every industry; if crypto is an exception, it's only because companies in that space have an unusual tendency to break the law.
- batiudrami 3y agoI do not understand how someone even slightly informed about this situation could have this take away.
- marcell 3y ago> why is it anybody’s business but mine and CZs? They don't like bitcoin and crypto because they cannot control it.
- LapsangGuzzler 3y agoSBF: put your money in FTX and you'll get life-changing returns Me: OK SBF: * takes my money * doesn't write it down anywhere * puts it into a giant slush fund without any accounting controls * loans some of it to his investment fund * buys millions in beachfront real estate with my and other victims money * goes around to all these interviews lying about what he's doing * plays Dota during a fundraising meeting * gets caught, the whole thing blows up and I lose all of my money. Did I forget anything here?
- thepasswordis 3y agoYeah, so punish SBF for that specific instance of fraud. No need for a “securities and exchange commission” to decide how they feel about numbers in a ledger. The SEC should exist to help investors know what they’re buying, and should essentially be publishing due diligence reports and assisting in fraud cases. The idea that they get to essentially legislate via administrative fiat, with no input from congress, and certainly no input from American voters is absolutely an absurd overstep.
- TacticalCoder 3y agoThe SEC was meeting with SBF and failed to protect US citizens who sent money to FTX. So far Binance hasn't pulled a ponzi scam (they existed before Alameda/FTX and have never stolen anyone's money). So basically the SEC failed to protect people from that ponzi scammer boy SBF was, but they're going after the like of Binance and Coinbase, who, so far, never stole a cent from anyone?
- Etrnl_President 3y ago[dead]
- eftychis 3y agoI mean yeah, because there is money around to repatriate. In the SBF case by the time anyone realizes what was happening the money was "gone." Trying to reply why it will be that easy in this case perhaps. N.B. they were just granted an order; they need now to enforce it. That's a different "craziness."
- meepmorp 3y agoOr, they fucked up by not being sufficiently careful before, and now they're being more proactive.
- LapsangGuzzler 3y agoAccording to NYT, Binance was moving billions into accounts held in Seychelles, Lithuania and Kazakhstan etc. via two banks that failed earlier this year in patterns that resemble money laundering[0]. If Binance was laundering its funds through two banks that just went through liquidation, you can bet that auditors figured that out pretty quick. 0: https://www.nytimes.com/2023/06/07/business/binance-cash-bank-accounts.html https://www.nytimes.com/2023/06/07/business/binance-cash-ban...
- derefr 3y agoPatterns that resemble money laundering, but more closely resemble tax sheltering.
- jasonhansel 3y agoTell me again about how decentralized crypto is. It seems that, in fact, there are a few central actors crucial to the system's survival.
- kayamon 3y agoBitcoin is still clearing transactions just fine every ten minutes like nothing happened.
- testacct22 3y agoWhy do so many of the comments here and journalists assert that crypto and exchanges are the same thing? Doesn't keeping coin in an exchange (as opposed to in a wallet, locally) sort of violate the ideology of crypto? Wasn't this shit invented to circumvent the banks? I don't get it, using something meant to circumvent the banks, just to invest it in a less regulated form of a bank Isn't to say I have a problem with crypto, but the one camp of people who shill these exchanges and the other that is saying crypto = exchanges = ponzi scheme are both wrong
- Nursie 3y agoWithout the exchanges, buying and selling for 'real' currency would be next to impossible. Without access to 'real' money, the get rich quick crowd (and probably a lot of the scam crowd, and probably a lot of the dark market crowd) move on. With them gone... there's probably not very much left of a cryptocurrency user base.
- testacct22 3y agoSeems like there's two ways of looking at exchanges: using it to buy/sell, then immediately transferring to a personal wallet. Or using it as some kind of investment. I'm criticizing the latter Wrt to the get rich quick crowd, things were fine before they showed up. They should go somewhere
- somenameforme 3y ago10 years ago I used to hold the concept of 'accredited investor' in disdain. It's largely just creating a giant paywall (or at least wealthwall) preventing lower income individuals from accessing some of the most potentially lucrative ventures. But yeah, the past ten years of seeing people decide to go buy BTC on news of "BTC reaches record high! It's going to to the Moon!" and then decide to go sell it on news of "BTC is crashing! This is the end!", and then [loudly] complain about losing money, or even that it's all a scam, has really made me change my mind and, in part, my worldview.
- Nursie 3y ago
- deleted 3y ago[deleted]
- Animats 3y agoThis SEC action has nothing to do with Binance being a crypto exchange. It has to do with it being an exchange, a broker, an asset custodian, a market maker, and a trader for its own account, all at once, with no regulation. Sam Bankman-Fried was lobbying Congress to make that legal. That plan went nowhere. Binance just assumed they could get away doing all that. Worse, the SEC has already found large transfers out of Binance into what seem to be Zhao's private accounts. That looks an awful lot like the FTX situation. Which is why this action was taken. That's what happened with just about every crypto exchange that went bust, all the way back to Mt. Gox. The insiders dipped into customer funds. The SEC is trying to stop the leak before the money disappears. This is not a new crypto-related problem. Stockbrokers routinely go to jail for misuse of customer funds.
- TheRealDunkirk 3y ago> Stockbrokers routinely go to jail for misuse of customer funds. While some people might take reassurance in a comment like this, regarding the SEC and it's duty to the public, it's hard to look at the mortgage meltdown of 2008 and conclude that banking & investment in this country, and its overseers including Congress, is anything but corrupt to the core, and they are only going after "big crypto" because they're not going to let a bunch of amateurs get in on the action.
- jdironman 3y ago> "They are only going after 'big crypto' because they're not going to let a bunch of amateurs get in on the action" I'm sorry, I'm not able to understand what you mean here? Not letting amateurs in on the action would be attacking small fish instead wouldn't it?
- TheRealDunkirk 3y ago"Amateurs" here meaning people that didn't go to an Ivy League school and isn't part of the same clubs. They definitely are not small fish. That's the point. They made out like bandits (literally), and they're not part of the "club," therefore, they have to go.
- seydor 3y agoSo i guess this will cause Binance to remove all the required KYC , so people can withdraw their funds without restrictions?
- hknmtt 3y agoUS loooooves stealing other people's money.