From Web3 is Going Just Great, we get the following: U.S. Department of Justice is considering filing criminal charges against Binance
Binance is a cryptocurrency exchange, and they seem to have believed that the rules (or the law) didn't apply to them.
Reuters reports that Binance's defense attorneys have argued, among other things, that "a criminal prosecution would wreak havoc on a crypto market already in a prolonged downturn." Well then.
So just ignore the money-laundering, and if they were (inadvertently) providing financial support to governments and organizations on the naughty-list, because it would be expensive for everyone. Especially the people at Binance.
As I type this, the losses in all things crypto that are tracked by Web3 is Going Just Great have reached $12 billion.
It was hard to limit my discussion of cryptocurrency to one story. I could probably talk about (laugh about? I'm not losing money) half a dozen stories and not get bored.
OK, one more. Exclusive: SBF secretly funded crypto news site.
That's right, one of media darlings of cryptocurrency world was slipping money to one of the larger cryptocurrency media organizations.
The Block, a media company that says it covers crypto news independently, has been secretly funded for over a year with money funneled to The Block's CEO from the disgraced Sam Bankman-Fried's cryptocurrency trading firm, sources told Axios.
Why it matters: The payments, which employees of The Block were previously unaware of, could undermine the news company's credibility and cast doubt on its coverage of Bankman-Fried, the now-bankrupt FTX and Alameda Research, Bankman-Fried's trading firm.
Gee, a cryptocurrency "journalism" site being funded by one of the people they report on. Is this like Big Tobacco funding research into smoking? "Nah, It'll be fine."
Is it just me or when you read his name your mind says "BANK FRAUD"??
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