Quote from: pawel7777 on November 26, 2023, 11:17:36 PM

Quote from: Myleschetty on November 26, 2023, 10:57:31 PM

I don't know what you mean by the SEC wins. Although, CZ pleaded guilty to money laundry but his hearing is still tomorrow and that's why he was told to remain in the US before he sought permission to travel which I don't know if he was granted permission.

If the settlement is reached and it's Binance that will be paying the fees, not SEC, and if Binance will be effectively out of the US (which was probably the goal of the prosecution) and if CZ pleads guilty of (some of) the charges, then it's a big win for the SEC, however, you want to look at it.

It's puzzling how a lot of the major news worldwide are reporting on CZ pleading guilty to money-laundering charges, which is completely not true. As far as I understand, CZ pleaded guilty on a violation of sanctions/restrictions, which has nothing to do with actual money laundering. Violating "Anti Money Laundering" laws doesn't have to mean money laundering.

Some people are presenting in such a way that CZ Volunteering stepped down as a gesture to save binance from all these money laundering allegations which may not be true as it was SEC who put all these cases on binance owner and he had no choice but to either proof himself right or face the consequences.
$4.3 billion settlement is one of the biggest settlements in the history of crypto.

Quote from: pawel7777 on November 26, 2023, 11:17:36 PM

It's a shame, from the customers' perspective, Binance was one of the most solid centralised exchanges out there. I hope they'll survive, although, without CZ, it might not be the same.

Richard Teng is the new CEO of Binance and for sure, when things are run under the new management, we never know how they progress. If SEC stops chasing them, Binance may still come good out of this crisis but if the SEC regulations keep on tightening on binance then I am afraid Richard Teng won't be able to resist much.