Binance's Reputation and Future in Jeopardy Amidst Bribery and Lawsuit Claims
The US Commodity Futures Trading Commission has charged Binance and its founder with alleged willful evasion of federal law and operating an illegal digital assets exchange, claiming that at least 20% to 30% of the exchange's traffic came from US customers. Meanwhile, a report by CNBC found that Binance employees or volunteers allegedly shared techniques for Mainland Chinese users to evade the exchange's KYC verification. In other news, prosecutors have alleged that Sam Bankman-Fried, founder of bankrupt cryptocurrency exchange FTX, paid $40m to one or more Chinese government officials to unfreeze accounts related to Alameda Research. Finally, Jun Yu, founding partner of Web 3.0 fund A&T Capital and former investment director at cryptocurrency exchange OKX, is currently under criminal investigation by Chinese authorities over allegations of sexual misconduct.
- US and China try to crush Binance, SBF's $40M bribe claim: Asia Express Cointelegraph
- Crypto Giant Binance Offered Perks to 'Flash Boys,' Regulator's Lawsuit Says The Wall Street Journal
- Why Binance May Have Been Worth Risk for US Institutions Blockworks
- Op-ed: Binance’s reputation at risk as CFTC allegations raise concerns CryptoSlate
- How Could CFTC Complaint Against Binance Impact U.S. Users? CoinDesk
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