The charges against Binance

The charges against Binance: what are the accusations, and what's next for Binance and its former CEO, Changpeng "CZ" Zhao? Attribution and sourcing for this video can be found at https://mollywhite.net/attribution/bi.... Disclosures for my work pertaining to cryptocurrencies are at https://www.mollywhite.net/crypto-dis.... Transcript: https://blog.mollywhite.net/binance-s... Support my work: ► Citation Needed newsletter: http://citationneeded.news/ ► Elsewhere: https://www.mollywhite.net/support/ Follow me: ► Twitter:   / molly0xfff   ► Mastodon: https://hachyderm.io/@molly0xfff ► TikTok:   / molly0xfff   ► Web3 is Going Great: https://web3isgoinggreat.com/ Opinions expressed in this video are just that — opinions — and should not be interpreted as statements of fact. The allegations against Binance are as described by the Department of Justice, the SEC, CFTC, FinCEN, and OFAC. Molly White is a researcher, software engineer, and prominent critic of cryptocurrencies and blockchain-based projects. She is best known for her website Web3 is Going Just Great, which documents only some of the many disasters in the cryptocurrency and web3 industries, and for her Citation Needed newsletter. 00:00:00 Intro 00:01:34 History 00:04:46 Binance's locus of operations 00:05:34 Growth 00:06:38 "Compliance" 00:11:01 Level 1 and Level 2 accounts 00:12:51 Failure to identify users 00:15:24 Criminal activity on the platform 00:18:14 "Tai Chi" entity 00:19:42 Binance.US established 00:24:10 Keeping US customers on the global exchange 00:31:13 Merit Peak and Sigma Chain 00:34:36 Market manipulation 00:37:58 The legal complaints 00:42:50 Why? 00:45:25 The charge details 00:53:01 What's next for Binance? 00:57:34 What's next for CZ? 01:00:34 Outro