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Breaking: Binance.US suspends USD deposits, warns of fiat withdrawal pause
Crypto exchange Binance.US is halting U.S. dollar deposits in an “effort to protect our customers and platform.”cointelegraph.com
Binance, the largest crypto exchange in the world, wants to solve all it’s legal troubles by getting rid of fiat currency trading facilities! Usually, SEC order to freeze assets means that the exchange (or a bank) in question stops functioning immediately. That didn’t happen, because Binance is crypto-centric, offshore and scarcely uses channels over which SEC exerts control. SEC actions were very clearly engineered to trigger a massive crypto bank run. And they still might. The fight between crypto industry and traditional finance escalated to a new level on the 6th of June. I think it’s only the beginning - Binance (probably) houses rat holes for all known and unknown illegal operations in the world. They don’t ask where you got the money from. SEC also can’t back down. It’s mandate is to maintain lawful order in financial sphere.
So, what do You think is going to happen? Massive bank run away from exchanges into secure wallets? Changpeng Zhao (Binance CEO) wakes up in Guantanamo one day?
Whichever way it goes, I don’t think this story can end well.
5 months later, and the answer is GUILTY!
PAY $4 billion (USD)




Binance slapped with $4B fine, accepts plea deal forcing CEO to resign
Binance CEO popularly known as CZ names successor in emotional X post.

Binance founder Changpeng Zhao has resigned as CEO of the world's largest cryptocurrency exchange after agreeing to plead guilty to money laundering violations, the US Department of Justice announced on Tuesday.
The DOJ's settlement concludes a three-year investigation into Binance that found "willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform," Secretary of the Treasury Janet Yellen wrote in a statement. According to the plea agreement, Zhao will pay a $50 million fine, and Binance—which also pled guilty to conspiring to operate an unlicensed money-transmitting business and violating sanctions against Iran, Cuba, and Syria—will pay a $4.3 billion fine.