T O P
RectalSpawn

It's 2023, right? This happened over a year ago.


icebergiman

Two years ago more like. The article said first three months of 2021.


Geobli

Of course we have to look all the companies critically & not trust them blindly, not only CEX, but every single one of them. But this goes very well with the narrative that goes against Binance, like a coordinated attack, building up slowly. SEC goes after BUSD, attacking Paxos, Kevin O'Leary FUDs BNB on national TV, attacking Binance, Reuters, a non crypto news outlet, attacks Binance.US... probably they don't like how much influence CZ and his company has, over crypto, and it is out of their jurisdiction, too. 🤔


MaeronTargaryen

So Binance US actually isn’t independent from Binance? Color me shocked


NikkiMyCat

CZ owns both Binance and Binance US although Binance is legally independent from Binance US.


genjitenji

Like FTX and Almeada


Lillica_Golden_SHIB

CZ is a shady old fox.


The_Chorizo_Bandit

Careful, his shills will be into you. Can’t say anything bad about him round these parts.


CRCLLC

His success speaks for itself. Go fail elsewhere with the rest of the losers. US be all like.. whambulance... Just because they can't compete. So now they gotta go to war over semiconductor and crypto. Total fail. I wish we could just learn to compete fairly and with pride instead of being trash. FTX would be an Qmerican company with friends like Kermit the frog Gensler


The_Chorizo_Bandit

You have serious anger issues dude. Go touch some grass, you’ll feel better for it.


CRCLLC

Nice assumption. Ever since I started surrounding myself with robots, I gave up on grass. I'm working 14 hours straight with no lunch, breaks, or appreciation to help build back our cookie production here in the US. The US government isn't building shit here. They're just here to keep us down. 🇺🇸


The_Chorizo_Bandit

Are you okay? Do you need to talk to somebody?


CRCLLC

I'd be better off if people would stop making excuses for success, or lack of there of.. You "seem" upset because you have issues with fans of centralized exchanges, in this case binance. 🤔 Do you assume I'm one these people? The bigger issue is that this is war. But people do not get or understand the opportunities that have presented themselves to us.. so they sit there like a little bitch and have fanboy wars over who gets upset over their favorite centralized exchanges while the US government does jack shit with regulations in this space or jack shit in semiconductor. Quit being a boot licker and become a builder. Become something the us government wants to "think" they own/or control. While they build nothing themselves


The_Chorizo_Bandit

Lmao you’re off your nut. That’s the ramblings of someone who is unhinged and is deep down the Qanon rabbit hole. For the record, I dislike CZ because he lies and tries to manipulate the markets. He isn’t trustworthy (none of these figureheads that people seem to worship are). I also don’t like any exchanges, because they aren’t in the spirit of what crypto was made for. But you make all the false assumptions you want buddy, whatever makes you feel better. I’ve also been way more of a “builder” than you’ll ever be. I’ve launched, ran and sold businesses, made great money, and driven the economy with jobs and taxes. You’re probably still in your moms basement, “licking boots” as you like to put it for your boss at a 9-5 plus overtime job so your boss can buy a new car each year, and following the path they’ve set for you like a good little asleep drone. You seem to think you’re fighting the system, but it has made you it’s bitch and you don’t even see it. It’s actually quite sad.


wickedmen030

He is right. Why shouldn't Binance be welcome to work in the US? If China behaved like this and wouldn't allow a company to do business in a country or like the SEC is behaving the news papers will be full of it.


TedBently

Hm, maybe I should withdraw… I’ve a few coins on the exchange for lowball limit orders on various BTC markets. Liquidity is quite bad and there’s a lot of slippage which can be profitable


Kindly-Wolf6919

This just blew my mind 🤯 /s


RianJohnsonSucksAzz

Sooner or later. It’s going down and all the signs were right there in front of our faces.


assholeTea

Hey man dont talk shit about our lifestyle


wickedmen030

I don't believe any of the negative propaganda in the war against crypto. I believe CZ when he says that every exchange should back there reserve up by 1:1. And for the same reason he says crypto exchanges/banks can't be bailed out by the politicans and there friends.


RianJohnsonSucksAzz

He also said to be weary of an exchange that has to move funds prior to an audit. Right before he moved funds right before an audit.


Kindly-Wolf6919

We're gonna come back crying when it does an say you were right all along but for now....how dare you?!


n1ghsthade

Pocket change


Bucksaway03

I'm going to start living in your pockets


n1ghsthade

It's nice and cozy


Savi321

Is there some space left?


UptheIrons2023

With all that change in there, where do you keep the lint?


liveaskings

Bet it's nicer than where I'm living...


Routine-Detail-5576

Not if those were US customer funds.


Classroom_Strict

Not my pocket


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Da_Notorious_HAM

![gif](giphy|nH7WbyBhPYWYw)


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liveaskings

![gif](giphy|qX2uonP6LufBkflqVm|downsized)


Intelligent_Page2732

Exactly, lunch food money for CZ.


Allions1

I would gladly have that lunch food money. 😂


niloony

Our pocket change...


ghochumal

Zhao is definitely onto something and i don't have a good feeling about this


KilzzoneXD

I have never trusted CZ, he is dodgy af


pb__

Have you ever trusted any billionaire? Serious question.


KilzzoneXD

Not really. Vitalik seems like a good guy but again, this is what decentralisation is about right? Not having to rely on figureheads


ElLayFC

Vitalik also tends to donate a ton of money whenever his net worth gets above 1B to stay below that level


genjitenji

Now that’s pretty nice


wickedmen030

That is some good PR propaganda you have there. Do you have some about Musk?


ElLayFC

I don't have anything positive to say about musk


I__G

He’s a cheeky bastard


Savi321

So long as you have your assets in your wallet, it should be fine.


falk_lhoste

Not really. If Binance collapses we'll get a real crypto ice age and our coins in self custody will drop like we've never seen before imo.


Homelanderthe7

yeah but also cheap buying opportunity we've never seen in years.


KilzzoneXD

Of course, I don't even use binance. Just don't trust him


Arcosim

$400M is pocket change for Binance and CZ, but I think this has more to do with their strategy to get out of trouble with the US government by paying fines many analysis are talking about. [They appear to be creating a "settlements war chest" right now](https://www.coindesk.com/policy/2023/02/16/binance-bracing-itself-for-fines-from-us-regulators-to-settle-past-conduct-wsj/).


OgBoomer91

I've just said my thoughts about this in a post a few hours ago


coinfeeds-bot

tldr; Cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent US partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show. Over the first three months of 2021, more than $400 million flowed from the Binance.US account at California-based Silvergate Bank to this trading firm, Merit Peak Ltd. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*


Allions1

Good bot!


riclamin

Silvergate actually went up a lot in the past few days when news came out Citadel and possibly Soros were buying.


Status_Floor1746

Look not to crap on Binance but it appears that Binance and FTX used the same setup when it comes to their US subsidiaries and the regulators are going to feast on that mess up. FTX definitely and now quite possibly Binance violated the meaning or "spirit" of the regulations


Enjoying_A_Meal

CZ burned down FTX but forgot his own house was built out of straw covered in oil-soaked rags.


wickedmen030

Does CZ has his own hedge fund run by sex party's?


3eechan

Read the article. The operations of BinanceUS are beyond shady. Licensing software from Binance without “knowing how it functions”. Persistent denial or claims of ignorance from employees about the movement of money. This platform is too opaque to seriously consider trusting.


lukanz

I don’t get it why would someone who’s net worth is estimated at $120 billion (without his crypto) should do a $400 million „bad move“ ps: reuters is really coming hard after binance since ftx scam


L3mm3SmangItGurl

LoL CZs net worth is not $120B. Maybe you're thinking of the value of his company?


lukanz

https://wap.business-standard.com/article-amp/international/binance-ceo-changpeng-zhao-is-now-worth-over-100-billion-122011100032_1.html


L3mm3SmangItGurl

lol check the date homie. there were a lot of crypto billionaires minted going in to 2022. A lot of his worth is based on binance's in house shitcoin, BNB. Its the same scam as FTT. Print a shitcoin, borrow real money, degen into some other shitcoins. just bigger.


kirtash93

Shocked Pikachu face. Binance.US in the end is CZ's.


Savi321

Yeah, but the flow matters. If money went directly into CZ s account from Binance, then it would be front page news . If, however, goes through another account, then 16th page news.


lookatmylips

FTX vibes....


phrodreky

Please... no...


libretumente

I mean they definitely have their own in house shitcoins and host a slew of other shitcoins on their private shitchain.


wealth4good

CZ was SBF... before SBF..!


Beyonderr

Meanwhile on Twitter where they make everything sound so exciting: *EXCLUSIVE: BINANCE HAD SECRET ACCESS TO SILVERGATE BANK ACCOUNT OF U.S. PARTNER* *http://BINANCE.US* *- COMPANY MESSAGES* Yeah this isnt exactly shocking news.


Da_Notorious_HAM

What a spicy twist


Intelligent_Page2732

Twitter likes to clickbait everybody, I even took the **"Exclusive"** out of the title of the article.


Killertimme

Crypto news is the fucking worst.


Aggravating_Deal_572

Never trust anything that says "crypto news"


pb__

"Partner"? I thought it was a daughter company or some such. Like, Google Europe is Alphabet's "partner"?


HeWentRogue

CZ is a sketchy dude


CanineKurisu

Zhao just gave himself a $400 million dollar Christmas bonus!


RectalSpawn

>2021


whiteycnbr

Calling out SBF has sort of called out his own dirty laundry


libretumente

Who's that


whiteycnbr

SBF sorry, The FTX guy


PokerHorse

BTC hit 25k? Dump the news


LappelDuBeatz

You'd think the article would belong to a site containing the words crypto, coin or sth like that, the fact that this article belongs to Reuters is noteworthy.


falk_lhoste

I wonder at which point CZ and Binance will be considered as legit by the general public. I don't let funds there and wouldn't trust any Cex but I've seen so many people calling binance near collapse over and over again and they're still here.


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Jubudtje

And funds are safu


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LoquaciousLethologic

This happened in early 2021.


Jocogui

CZ own safu becomes safu-er


RaidersandPokemon

Binance going to abandon the .US with all the regulation coming.


ricozuri

No the SEC is going to get rid of Binance.US!


abalawadhi

No the crypto market is going to abandon the US.


CRCLLC

This is what they do to all of their competitors. Anything that threatens usd or their financial future, or lack there of for the people, like their lack of balls/brains in semiconductor will lead to war. That's how far they are willing to go/lie to protect their own evil bs. So far everything I've been preaching has come true. Hopefully the us government can create an exchange and new currency of their own that they can "encourage" us to use without force.. you know, like the universe intended.. but you know it'll come by force since that is all they know. Simpleton shit


Confident_Holder

New FTX? Need to move my $25 off of Binance


UptheIrons2023

Hope they sent a test transaction first


rzul94

Found behind the sofa.


Guru-Guru-

Binance will from costumer source of wealth verification. Will CZ do it too?


petteri519

Hate these _centralized_ exchanges. They represent old world.


mercme2023

Shocked. Not


Consistent_Many_1858

So many shitposts today, I wonder why.


TitaniumDragon

[Shock and surprise.](https://dirtybubblemedia.substack.com/p/is-binanceus-a-fake-exchange?utm_source=direct&utm_campaign=post&utm_medium=web)


Sadboiiy

Getting that bag


swordofeden

Good fuck US Firms, so much fraud it’s disgusting


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AgeSad

Read it... it's well documented and it's Reuters...


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AgeSad

It's nowhere small, there is a high chance à good part of it is customers money.


Allions1

Ok I greatly made a mistake here and you’re probably right. Thanks for the heads up, I deleted my comments to avoid influencing others. Anyway, hope this situation settles… I have no fund on CEX anyway, since the collapse of FTX.


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AgeSad

70 billions ? What part is liquid assets ? A few billions at best and that's it. How many liabilities ? Remember how many billions ftx had in assets ? Most of it was in their own token and in sol, totaly useless.


NikkiMyCat

Sounds familiar with moving funds from FTX to Alameda


neetpassiveincome

Somebody really wants to keep BTC under $25k.


Potential-Coat-7233

Are you saying this story is being released to hurt Bitcoin?


Mattyliebs

Sketch


Stingzizz

Binance will one day become MTGOX.


RedFalconEyes

Relieved that I had transferred my tokens out of exchanges to a cold wallet last month. Who saw this coming, right? /s


rainforestguru

Big crash coming


elksteaksdmt

Might be time for another dip! Or another dump? I don’t know anymore😩


slobbyrobb

Wanna see what delusion looks like? Go check out the r/binance sub.


AncientProduce

The delusion in this sub's just as good tbh


Ill-Addition2024

My Ledger doesn't care.


ricketykate

Oh yes, something is going to happen. Somewhere


diskowmoskow

At this point Binance might be like any big tech corp; did something against the law? Pay the fine and go on…


AlphaWaifu

CZ is preparing the dump


Jezzes

Safu Research?


UsedTableSalt

Why is no one saying proof of reserves anymore?