The DOJ announced that they will be announcing a new enforcement action at 3 PM Eastern time today against some actor in the crypto industry. Does anybody have any guesses? Is this finally when they take down tether? Or is this a binance related? If, and I have no idea if this will happen or not, this announcement is just that binance will pay (settle) the $4 billion in the DOJ investigation against them will go away then that is very bullish for crypto but again that is just pure speculation. Anyone have any other guesses?
Yesterday the SEC sued Kraken for running an unregistered brokerage. Maybe that is the connection. https://www.reuters.com/business/fi...ding-platform-without-registering-2023-11-20/
The latest Binance news today... Binance founder pleads guilty to violating money laundering rule. The founder of the cryptocurrency exchange Binance agreed to plead guilty to money laundering violations and step down from the company. Changpeng Zhao will pay a $50 million fine and step down as chief executive, a stunning blow to the most powerful and influential figure in the global crypto industry. Tuesday, November 21, 2023 1:38 PM ET https://www.nytimes.com/2023/11/21/technology/binance-changpeng-zhao-pleads-guilty.html
All they got out of him was 50 million?? Kraken said on Twitter yesterday that they will fight this to the "death". Since everyone already knows who will win that battle. It's just comical now when the SEC tries to establish power with the little credibility they have left. Last night when I heard the news I just laughed before brushing my teeth and going to bed, and it seems like everyone else took the news the same way since the markets are still at their same levels...
No, I think the fine is 4,000,000,000+ but we shall see the press conference is about to start. Either way I would think this is very bullish for bitcoin. We have known that the DOJ investigation was hanging over binances head this whole time, and it was weighing down the whole industry. Anything that puts that in the rearview mirror is bullish
The SEC got over $4 Billion from the Binance. World's largest cryptocurrency exchange Binance to pay $4B, founder to plead guilty to breaking US law CEO Changpeng Zhao will plead guilty to criminal charges in a deal with prosecutors https://www.foxbusiness.com/markets...e-pay-4b-founder-plead-guilty-breaking-us-law "Binance agreed to pay a $1.81 billion criminal fine within 15 months of sentencing. Prosecutors said the company also consented to a $2.51 billion order of forfeiture."
That's funny s*** I hope he goes to prison I remember when I was asking them back in the day about how they can avoid wash sale reporting and fake volume and his only reply was " trust us the trades are really happening" . Shut the f****** about the SEC losing validity You're just some piss ant be quiet
Don't forget, it was just a short while ago, that as soon as the SEC sent Kraken a notice for penalties due to allowing US citizens to stake... they immediately folded, cried Mommy, and paid the fines. And winded down staking revenue. It was only when they tried to hit Coinbase, the SEC got their first "Fuck you" reply... and then things got very, very, very bad for them. Even XRP started kicking the SEC's rear.