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According to NYT, Binance was moving billions into accounts held in Seychelles, Lithuania and Kazakhstan etc. via two banks that failed earlier this year in pat
by LapsangGuzzler 3y ago
According 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.
- deleted 3y ago[deleted]
- LapsangGuzzler 3y agoThe article alleges that at least one of the offshore companies was commingling customer funds, which Binance denies. I'm no finance guy, but that seems like a pretty easy allegation to back up if they've been deep into one of Binance's intermediary banks (which they have). The SEC has turned around 3 months after these banks collapsed and launched significant legal action against Binance and Coinbase, which says that what they found was serious enough to move really quickly against these guys. No idea what they found, but I have feeling we're all gonna be reading about it pretty soon.
- deleted 3y ago[deleted]