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#Binance

2 posts2 participants0 posts today

i found some court filings that detail one man's attempt to use the courts to force #Tether and other #cryptocurrency companies to give him back $3 million that was stolen from him.

spoiler: it didn't go well. the crypto companies used their standard defense of "#blockchain is open source so not our problem lol".

not only did he have to chase the crypto companies through multiple jurisdictions (#singapore, british virgin islands, etc), in the end i don't think he got any of his money back from the (probably) #Russian criminals who stole it.

threadreaderapp.com/thread/194

a russian hosting service that takes payment in crypto, Aeza Group, was just hit with #OFAC sanctions.

they've sent funds to a bunch of the shadiest crypto exchanges - #Cryptomus, #MEXC, #Binance, and (of course) #HTX, the crypto exchange run by the business partner of the president of the united states.

also looks like they took payment in #Tether, the #stablecoin whose money is managed by america's secretary of commerce howard lutnick.

* OFAC press release: ofac.treasury.gov/recent-actio
* Wallet: intel.arkm.com/explorer/addres

a few weeks ago right before #Israel attacked #Iran #Tether froze a #Tron wallet that had over the course of a year managed to receive almost $2 billion, at least $1.2 bn of which came from #Binance (which historically did huge business in Iran).

there was only $2.5 million in the wallet at the time of the freeze but in terms of how much money flowed through it, it's the 4th highest volume wallet ever frozen.

based on the fact that another wallet frozen ca. the same time w/similar usage patterns turned out to be linkable to #Hezbollah, the govt of #Iran, and a dark market for nation state sized orders of weapons & #drugs (#HuionePay / #HuioneGuarantee), I have a hunch this wallet was also used by the #IRGC to fund its proxies in the region like the #Houthis and #Hezbollah and #Israel has chosen not to disclose that it was responsible for the seizure yet.

* arkham view of wallet: intel.arkm.com/explorer/addres
* similar wallet: universeodon.com/@cryptadamist

Continued thread

this wallet... is actually kind of crazy.

1. 10th highest volume ever frozen by #tether ($822 mil)
2. launched right after october 7th
3. ...by a wallet #israel alleges is #hezbollah
4. frozen april 2nd, 2025
5. all but 1 counterparty is anon (that counterparty is also allegedly hezbollah)
6. no obvious signifiers that it might be a commercial iranian crypto exchange
7. #binance customer (of course)

intel.arkm.com/explorer/addres

intel.arkm.comArkham
#CFT#terrorism#iran
Continued thread

#Binance, which lists #Trump’s #USD1, does not operate in the #US. Binance’s US subsidiary, Binance.us, does NOT list Trump’s #stablecoin.

$2.15B—USD1’s market cap as of Thurs, makes it the 49th most-popular #stablecoin, according to Binance.

Binance is the 2nd troubled #crypto #exchange to list USD1 this month. Trump’s stablecoin also began trading on #KuCoin, a Seychelles-based exchange that pleaded #guilty in Jan to operating an unlicensed money-transmitting business.

Continued thread

#Binance founder Changpeng “#CZ” Zhao also pleaded #guilty, paid a $50M fine & was sentenced to 4 months in #prison.

In late April—a few wks before #USD1 began trading on Binance—Zhao applied for a #pardon from #Trump’s #DOJ.

On Thurs, the #SEC voluntarily dismissed its suit against Binance that accused it of failing to restrict high-net-worth individuals from the platform, misleading investors about trading controls & commingling funds that it routed to a 3rd party.

great explanation of what the Trump family is really doing with their new #stablecoin #USD1:

> "Imagine a banking system stripped of all current safeguards and requirements. Now imagine it's controlled by people who run commercial businesses profiting from your spending. That is what the GENIUS Act is paving the way for. It poses significant risks to the economy, the consumer, and national security."

thesillyserious.substack.com/p

Continued thread

Ogle said he received a call this week from someone involved w/the dinner laying out the rules, including that no cameras or journalists would be allowed into the event to protect attendees’ privacy. He said he would only remove his mask once the gala’s doors were closed.

Ogle worked as an adviser for #Trump’s #crypto venture #WorldLibertyFinancial that recently said its crypto coin would be used in a $2B transaction involving #Binance & state-backed #UAE investment firm #MGX.

Continued thread

Concerns are fueled by the number of apparent foreign investors involved in the coin. Roughly half of the top 220 #memecoin holders have received coins from #crypto exchanges such as #Binance that say they reject customers from the #UnitedStates…. 19 of the top 25, who will attend an “ultra-exclusive private VIP reception” w/ #Trump & a “special tour,” bought coins from similar exchanges. (The event’s site had said the tour was of the White House, but it no longer specifies the tour’s site)
#law

i'm having trouble understanding why Senator Chris Murphy, who in many ways is the very embodiment of what it means to be a dude from #Connecticut, is the only member of Congress who seems to sufficiently both understand and relentlessly harp on the Trump family's crypto corruption but he's doing a great job and I'm here for it (even if he doesn't go into the fact that Trump is collaborating with Chinese organized crime companies and personalities like #Binance and Justin Sun)

Why is this kind of simple explanation of corruption so hard for the rest of the #Democrats?

youtube.com/watch?v=mR_q9llV-7

#Binance's blockchain now offers free transfers on the Trump family stablecoin #USD1 (brought to you by #WorldLibertyFinancial), helpfully explained in a language easily intellligble to the America first crowd.

Pretty amazing that right as Trump is destroying most American businesses' ability to work with China he himself is now doing a brisk and lucrative new trade with the country.

p.s. binance was hit with the largest money laundering fine in american history ~1.5 years ago. the offices are china.