• Welcome to TechPowerUp Forums, Guest! Please check out our forum guidelines for info related to our community.

Binance, World's Largest Crypto Exchange, Reportedly Under Investigation by DoJ, IRS

For some reason I had a flash back to the movie untouchables. Not-guilty on everything.......................except tax evasion.................
 
The monopoly-money ponzi is showing!
 
Hemmingstamp said:
I take it you don't like Crypto then :)
Click to expand...

Not a question of liking, just looking at it from a cold rational perspective.

Main thing that bothers me about Crypto is trying to establish why one is worth more than other? There aren't any fundamentals or any return for holding.

Their value is just a consequence of how well promoted on social media they are.

It's pure speculation, just a 21st century version of a pyramid scheme. With social media to get new people in and Covid stimulus as the catalyst.

Presuming any US dollars are used by binance they're in the DOJs jurisdiction. Doesn't matter if they're in the US or not.

If they're laundering the likes of the ransom money then I would expect big trouble for them. Not a coincidence Turkey added crypto to its terror funding regulations either.
 
Have you not taken into the account the fact Crypto is a possible threat to FIAT?, to the status quo, and that's why those in control are against it.
I think you need to look at other markets before laying all the blame at just one. It's all manipulated one way or another. Just go and look at silver for instance.
 
Used Coinbase, Binance and KuCoin for years. They're all good for me once you get verified, the US government just want a piece of the pie.
 
Hemmingstamp said:
Have you not taken into the account the fact Crypto is a possible threat to FIAT?, to the status quo, and that's why those in control are against it.
I think you need to look at other markets before laying all the blame at just one. It's all manipulated one way or another. Just go and look at silver for instance.
Click to expand...
Fiat currencies are no more and haven't been for quite some time now. Problem for the banks is that the ledger is global with crypto, i.e. not theirs to control and they can't manipulate it as they see fit.
With good blockchain banks are as good as dead.
 
dhklopp said:
Used Coinbase, Binance and KuCoin for years. They're all good for me once you get verified, the US government just want a piece of the pie.
Click to expand...
Unless they pull another RobinHood. Scum like them and the lack of really natural trading and exchange platform is why we can't yet have nice things.
 
zlobby said:
Unless they pull another RobinHood. Scum like them and the lack of really natural trading and exchange platform is why we can't yet have nice things.
Click to expand...
This is why you keep your funds in a hard wallet. But yea, there's always a risk with these things.
 
dhklopp said:
This is why you keep your funds in a hard wallet. But yea, there's always a risk with these things.
Click to expand...

Any suggestions on a hard wallet?
 
Coinbase customer service sucks bad, someone claimed to have 2000 or employees, but I doubt thats true, they cant even update their website. Lets not mention how they are cheating customers with hidden transaction fees when converting which is supposed to be fee free. I recently learned that you need to transfer coin to CB Pro to do buy/sell/converts so you dont get cheated. I put in a bunch fo tickets since early last year, 1 got answered. CB is not really doing anything illegal, but they arent really helping anyone either. I almost joined binance but after this, nope.
 
Doesn't Binance block access to it's platform from within the US anyway ?
 
evernessince said:
Maybe but I'd wait until more details come to light before coming to a conclusion.
Click to expand...
There would've been a slight glimpse of suspicion if it was Interpol. IRS and DoJ? I'm 99% sure it's the follow-up to their beef that started the whole "no operations in US" deal, which in its turn followed a scandal on US-based exchange closures, which all started from ransomware attacks of the past. AFAIK this investigation went nowhere, and Binance reps only were involved as witnesses. Right now they are trying to tie-in Colonial Pipeline, drugs, hookers, heavy metal and whoknowswhatelse.
I know it sucks to have no gas, but Colonial Pipeline are the only ones to blame here. We've been through Petya and pseudo-petya, we've encountered countless mass-hacks through an unpatched RDP vulnerability, yet still - here we are.
petya.jpg
Tardian said:
Personally, I think making negative comments about the DOJ and IRS is stupid. Money laundering is illegal in most countries of the world.
Click to expand...
It's not about Binance laundering money, it's about criminals laundering money through Binance. That's two different things.
People can just as easily launder money through car/home/small business loans, or through mass online purchases, but you don't see law enforcement agencies going after banks or online stores in these cases- they are going after perpetrators.
The main issue here is DoJ and IRS wants information, which Binance is not [yet] obligated to disclose. And we all know how that goes with Yankees: "if you are not with us - you are against us".
 
silentbogo said:
And we all know how that goes with Yankees: "if you are not with us - you are against us".
Click to expand...
this is said by every country that wants something from another one. Its a saying as old as time since the age of writing.
 
If you trolls have all your coins in only one exchange then the first rule is, you trolls should never leave everything in just one place.
 
elghinnarisa said:
Have you seen coinbase subreddit? 9/10 posts are about how they fucked something up. Pretty much all cryptoexchanges are equally horrible in one way or another.
Click to expand...
Those are all people bitching about waiting and other shit. Just do what you need to do, verify identity, respect the holds if you are new. Sure coinbase can improve on things like fees but most of the complaints are people complaining about things that doesn't have anything to do with selling or buying itself.

One thing I would like for coin base to improve on is their bullshit talk about no fees when trading crypto with crypto. They have this exchange fee built in due to price fluctuation which is bullshit lol. It happens to be pretty close to the fee if you were to sell for cash or buy with cash. That is something I hate their tactic for but once you know you are better off. I only swap crypto when I have profits even with the fee. I did a few times thinking it was no fee and then checked my balance and it was 20 less each time lol. I was like fuckers.

Sure there is coinbase pro, but wish I had time to play around more so I have been keeping it in one place.
 
zlobby said:
Fiat currencies are no more and haven't been for quite some time now. Problem for the banks is that the ledger is global with crypto, i.e. not theirs to control and they can't manipulate it as they see fit.
With good blockchain banks are as good as dead.
Click to expand...
I couldn't agree more. That is until the banks and big players put their own crypo into action which they are planning as I type.
Only regulation could crush the crypto scene in it's current form. (Or disrupting the powers grids)

DeathtoGnomes said:
Coinbase customer service sucks bad,
Click to expand...
So what's the alternative?, because the other snakes out there can be equally as bad if not worse.
 
Last edited:
Hemmingstamp said:
Only regulation could crush the crypto scene in it's current form. (Or disrupting the powers grids)
Click to expand...
Or the internet crashing for good.
Oh my, imagine the world then.
 
TumbleGeorge said:
All crypto is criminals non matter producing or marketing.
Click to expand...
Good thing the courts don't see it that way, that would send a large percentage of the world to jail.
 
Hemmingstamp said:
So what's the alternative?, because the other snakes out there can be equally as bad if not worse.
Click to expand...
I wish there was an alternative, so we are stuck with this or a personal wallet which we have to micromanage if you do any staking
 
You must log in or register to reply here.
Back
Top