Saylor: "Ultimate humanitarian act? Put all your money in bitcoin, die with your keys. Because you know you have made a pro-rata distribution to the virtuous." I'm from third world country and i just reached 0.2BTC😁 Been DCA a lot for last 3 years. Is it me, or are the governments and media really doing everything in their power to get us to sell our crypto? Isn't it a bit odd that a collective action against Binance starts at the exact same time frame at which BlackRock is filing for a BTC ETF? NatWest, a bank that explicitly restricted crypto-related transactions post-SVB,now requires prior notice for withdrawals over £2000, as well as an interview and "documentation" like an invoice. It now seems clear crypto was made a scapegoat for ailing and failing banks(or certainly for NatWest) Police tell Bitcoin ATM firm to 'go to hell,' take scam victim's cash from machine Binance Reaches Deal With Government to Avert U.S. Shutdown (nytimes.com) by Marketing_Usual [–]kryptoNoob69420Platinum | QC: CC 608 77 points78 points79 points 13 hours ago (23 children) Under the agreement, funds belonging to customers of Binance.US would go into special digital repositories accessible only to the U.S. exchange — and not to Binance’s larger international operation, or its founder, Changpeng Zhao. The deal stipulates that Binance.US can transfer company assets “solely to make payments for expenses or to satisfy obligations incurred in the ordinary course of business.” Makes sense. permalink embed save report give award reply [–]RedBunery 63 points64 points65 points 12 hours ago (9 children) US would go into special digital repositories accessible only to the U.S. exchange — and not to Binance’s larger international operation, or its founder, Changpeng Zhao. The fact that this wasn't the case previously is rather unnerving. permalink embed save parent report give award reply [–]Electronic-Past53511 - 2 years account age. -15 - 35 comment karma. 36 points37 points38 points 10 hours ago (3 children) Yeah. I was listening to an interview with Gary and he was saying how the thing he doesn't like with crypto exchanges is how they handle various operations that legacy-wise would require multiple different entities so funds aren't co-mingled or that an exchange doesn't have a trading desk that is betting against its user, which is very reasonable. When we think of the NYSE, they are an exchange. Period. They do not do custody, they do not borrow nor lend, they do not manage trades - those are all done by other institutions. I feel this fuck SEC has been blown out of proportion like everything is with crypto. Yes they are not angels, but they are not evil demons permalink embed save parent report give award reply [–]conceiv3d-in-lib3rty 17 points18 points19 points 9 hours ago (0 children) This is part of the sensible regulation we need in crypto. If you step outside the crypto bubble, there’s such a negative perception of it. Like an absolutely awful perception by most people. Regulation is the answer to changing this. It’s never going to be anything more than exchanges failing with investor’s funds, VC’s dumping on retail and worthless pump and dump tokens without it. permalink embed save parent report give award reply [–]PooOopyOpinionTin -4 points-3 points-2 points 10 hours ago* (0 children) The thing is that those “multiple different entities” developed as they did for a reason. It’s arguable that a major reason for crypto’s growth has been the crypto space’s centralization of these roles in exchanges. This makes it easier to scam people of their money, which is the true purpose of cryptocurrency. permalink embed save parent report give award reply [+]Kumomax1911Silver | QC: CC 373, ETH 18 | EOS 382 comment score below threshold-8 points-7 points-6 points 6 hours ago* (0 children) Gary won't even pickup the phone for the largest crypto exchange in the US. You are not seeing the whole picture/debate. Not even close. Not fuck the SEC (many are good in the SEC, and fighting against his over reach). Fuck Gary. He is a 100% a liar with an agenda. Do not trust anything he says before you take the time to hear all sides. Gary is good at bullshittng. He's not an idiot. permalink embed save parent report give award reply [–]TNGSystems 5 points6 points7 points 7 hours ago (4 children) I’m of the opinion, perhaps naively, that it really shouldn’t be so hard to operate a profitable exchange. Customer assets are not loaned out or used, and all you do is charge a fee per trade and a fee to withdraw and there! What else do you need to do? permalink embed save parent report give award reply [–]Smp208fTin 0 points1 point2 points 28 minutes ago* (0 children) The irony is that it is. People are just greedy. FTX was supposedly making $10M-$20M a day on fees, which is insane money. But of course $3B+ in revenue a year wasn’t enough for SBF… permalink embed save parent report give award reply [+]debtfreegoalPlatinum | QC: CC 89, DOGE 66 comment score below threshold-6 points-5 points-4 points 6 hours ago (2 children) Well an exchange needs to hold the crypto they sell. So that is some expense there. And imagine your exchange wants to offer some meme coin, but you buy on the pump! Then it dumps down… well you just FOMO’d in and now when you sell, you just took a loss! So yeah, not as easy as it may seem. permalink embed save parent report give award reply [–]StolenApe 3 points4 points5 points 2 hours ago (0 children) I’m not following how the price of an asset matters to the exchange. Stock exchanges don’t live or die by stock prices permalink embed save parent report give award reply [–]TNGSystems 2 points3 points4 points 5 hours ago (0 children) For new coins they can just require third parties to be market makers. permalink embed save parent report give award reply [–]greenappletree 9 points10 points11 points 10 hours ago (1 child) Makes so much sense as to wonder y it was not there in the first place hah hopefully when the smoke clears we will have better rules a d standards going forward permalink embed save parent report give award reply [–]conceiv3d-in-lib3rty 5 points6 points7 points 9 hours ago (0 children) It hasn’t been there in the first place becuz of the lack of regulation in this space. permalink embed save parent report give award reply [–]002_timmy 29 points30 points31 points 13 hours ago (8 children) So basically they can’t disappear with the money permalink embed save parent report give award reply [–]NequienttTin 3 points4 points5 points 4 hours ago (0 children) A lot of this exchanges are running away from US because the wild wild west is over for them there, also Sec wants customers funds to be guaranteed even if exchange goes down which for a lot of them is a big no no. permalink embed save parent report give award reply [–]BeyonderrPlatinum | QC: CC 1253 17 points18 points19 points 13 hours ago (5 children) Was Gary looking out for us all along? Im so confused. permalink embed save parent report give award reply [–]emp-sup-bryBronze | QC: CC 22 | LRC 6 9 points10 points11 points 9 hours ago (0 children) Yes, which is what the voices of reason were trying to say all along. Skeptics are important but there are also some real idiots that work from political philosophy outward to such a degree that every nail is to be hammered, etc. permalink embed save parent report give award reply [–]RedBunery 24 points25 points26 points 12 hours ago (2 children) This is the kind of regulation I think all of us can get behind. No one wants scenarios where crypto CEO vanish with customer funds. Think GG could build a lot of bridges if he started talking about steps like this more. permalink embed save parent report give award reply [–]emp-sup-bryBronze | QC: CC 22 | LRC 6 7 points8 points9 points 9 hours ago (0 children) And this is the kind of regulation that builds a bridge of safety for more people to enter the space. There is a lot of money out there funding anti regulation propaganda, and them that are funding ain’t on the side of retail. permalink embed save parent report give award reply [–]BeyonderrPlatinum | QC: CC 1253 1 point2 points3 points 9 hours ago (0 children) Well said. I dont think that was a risk with CZ but some assurance works for me. permalink embed save parent report give award reply [–]2BFrank69Tin | 2 months old -2 points-1 points0 points 2 hours ago (0 children) The Wallstreet mafia want him out. What does that tell you? permalink embed save parent report give award reply [–]Interview_Party -2 points-1 points0 points 9 hours ago (0 children) But some exchanges just did, they are out there preventing what ifs than chasing have beens. permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 8 hours ago (0 children) Indeed, much less severe than what I previously expected. permalink embed save parent report give award reply [–]MayorAnthonyWeinerPlatinum | QC: CC 83, XMR 31, BTC 17 | Buttcoin 17 | Finance 27 0 points1 point2 points 5 hours ago (0 children) Yea I don’t hate this permalink embed save parent report give award reply [–]n1ghsthadeI suggest you do it now 24 points25 points26 points 13 hours ago (7 children) Ok, Bitcoin to 100k now permalink embed save report give award reply [–]BeyonderrPlatinum | QC: CC 1253 9 points10 points11 points 13 hours ago (4 children) This 2021 is soooo long. Thankfully, 2021 Q11 we will finally see 100K. permalink embed save parent report give award reply [–]n1ghsthadeI suggest you do it now 2 points3 points4 points 13 hours ago (3 children) Look at the bright side, we don't age permalink embed save parent report give award reply [–]002_timmy 5 points6 points7 points 13 hours ago (2 children) Oh, I’ve aged. permalink embed save parent report give award reply [–]BeyonderrPlatinum | QC: CC 1253 2 points3 points4 points 13 hours ago* (0 children) Me too. I started my crypto journey in 2021 and its been a crazy 10 years permalink embed save parent report give award reply [–]n1ghsthadeI suggest you do it now 1 point2 points3 points 13 hours ago (0 children) I don't even see your face, not sure whether that's good or bad. permalink embed save parent report give award reply [–]Puzzleheaded-Sun-363Tin 0 points1 point2 points 10 hours ago (0 children) Better late than never! permalink embed save parent report give award reply [–]Hawke64Platinum | QC: CC 199 0 points1 point2 points 5 hours ago (0 children) We are a bipolar bunch, aren't we? permalink embed save parent report give award reply [–]BeyonderrPlatinum | QC: CC 1253 20 points21 points22 points 13 hours ago (6 children) Im increasingly starting to believe we are living in a simulation. This timeline is insane. permalink embed save report give award reply [–]SkuniMasterMind 1 point2 points3 points 11 hours ago (0 children) Odds are higher that we live in simuation than that we are not. So yeah, nothing nothing amazes me anymore permalink embed save parent report give award reply [–]HodlMyBottleTin | Politics 15 0 points1 point2 points 11 hours ago (0 children) What are we simulating? Dystopia!!? permalink embed save parent report give award reply [–]Popular_Worry_9294Tin 0 points1 point2 points 10 hours ago (0 children) It feels like we’re part of a Black Mirror episode sometimes permalink embed save parent report give award reply [–]Hawke64Platinum | QC: CC 199 0 points1 point2 points 5 hours ago (0 children) The simulation broke down after Harambe's death 🦍 permalink embed save parent report give award reply [–]antiprogres_ -1 points0 points1 point 7 hours ago (0 children) If we lived in a simulation, reality would NOT be that weird permalink embed save parent report give award reply [–]Dipsi1010Tin | BTC critic | SHIB 393 -1 points0 points1 point 7 hours ago (0 children) What about this makes you think its a simulation? permalink embed save parent report give award reply [–]colonycom 8 points9 points10 points 13 hours ago (6 children) Money answereth all things under this sun! permalink embed save report give award reply [–]JoNwOrDy 2 points3 points4 points 12 hours ago (0 children) Binance: "Money answereth all things under this sun, except for regulatory scrutiny. But we've got that covered now... with money." permalink embed save parent report give award reply [–]SQUIRMANDESAUR 0 points1 point2 points 11 hours ago (0 children) If money didn't solve your problem, just add another 0 until it solves it. permalink embed save parent report give award reply [+][deleted] 12 hours ago (1 child) [deleted] [–]branddz -1 points0 points1 point 11 hours ago (0 children) Better money. Better world. Bitcoin. permalink embed save report give award reply [–]SimbaTheWeaselBronze | QC: ALGO 18 -1 points0 points1 point 9 hours ago (0 children) No lies told here permalink embed save parent report give award reply [–]azdood85Platinum | QC: CC 20 | Politics 194 -1 points0 points1 point 7 hours ago (0 children) Money staying in the U.S. answereth all things under this sun! Ftfy permalink embed save parent report give award reply [–]boerenbrokBronze | CRO 7 15 points16 points17 points 13 hours ago (10 children) ‘Part of the deal: a lot of money’ permalink embed save report give award reply [–]AbysskittenPlatinum | QC: CC 80 7 points8 points9 points 12 hours ago (3 children) "Cash rules everything around me." permalink embed save parent report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 0 points1 point2 points 11 hours ago (1 child) Everybody must pay a tribute to the SEC and lord Gary Gensler. permalink embed save parent report give award reply [–]rahhumilovedogsTin 0 points1 point2 points 8 hours ago (0 children) Unfortunately, sec has unlimited legal fees paid by those it "protects." permalink embed save parent report give award reply [–]tzarkeeTin 0 points1 point2 points 11 hours ago (0 children) Except when a different asset class provides better risk adjusted yields permalink embed save parent report give award reply [–]Odd-Radio-8500Tin | 2 months old 1 point2 points3 points 12 hours ago (0 children) Money playing its part permalink embed save parent report give award reply [–]JoNwOrDy 1 point2 points3 points 12 hours ago (1 child) Binance: "We're not shutting down in the U.S., we're just paying a lot of money to stay open. But don't worry, we'll make it all back in fees." permalink embed save parent report give award reply [–]rahhumilovedogsTin 0 points1 point2 points 8 hours ago (0 children) Pay sec or pay binance. Same thing just in a different place. permalink embed save parent report give award reply [–]badfishbeefcakeSilver | QC: CC 100 | ADA 32 | PoliticalHumor 42 -1 points0 points1 point 12 hours ago (0 children) to whom? 😂 permalink embed save parent report give award reply [–]jorneypTin | SHIB 11 6 points7 points8 points 13 hours ago (1 child) This is good news at least the avoided something bad from happing until they clear things out permalink embed save report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All -1 points0 points1 point 13 hours ago (0 children) They probably reached the classic agreement of "how much money you have to pay me" in a form of tribute to our Great Lord Mr. Gary Gensler. All this stuff ends this way. They pay a fine and move on. Banks do it all the time. BTC$69k confirmed by end of June 2023 🚀💰 permalink embed save parent report give award reply [–]coinfeeds-botApproved CC Bot 2 points3 points4 points 12 hours ago (0 children) tldr; The Securities and Exchange Commission (SEC) has reached a deal with Binance that will allow the cryptocurrency exchange to continue operating in the US and safeguard customer assets as it battles a government lawsuit. The SEC had filed fraud charges against Binance on June 5 and moved to freeze the firm's US assets, which the exchange's lawyers said would put it out of business in the US. Under the agreement, funds belonging to customers of Binance.US would go into special digital repositories accessible only to the US exchange and not to Binance's international operation or its founder, Changpeng Zhao. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]Mrramirez44Tin | CC critic 2 points3 points4 points 10 hours ago (0 children) So common sense regulations? permalink embed save report give award reply [–]DurbanDawgTin 2 points3 points4 points 6 hours ago (1 child) Finally some good news for once. permalink embed save report give award reply [–]Marketing_Usual[S] 0 points1 point2 points 6 hours ago (0 children) I'll give you some more bad news tomorrow permalink embed save parent report give award reply [–]Florian995Tin 1 point2 points3 points 13 hours ago (5 children) The deal: Gery Gensler gets an ass full of money permalink embed save report give award reply [–]MichaelAischmann 4 points5 points6 points 13 hours ago (1 child) And CZ gets an ass full of Gary Gensler. permalink embed save parent report give award reply [–]Florian995Tin 1 point2 points3 points 13 hours ago (0 children) That’s a high price to pay for him lol permalink embed save parent report give award reply [–]DBRiMattThe Great Australian Shitposter 0 points1 point2 points 13 hours ago (0 children) And we continue the Sec-Binance dance! permalink embed save parent report give award reply [–]special_onigiri 0 points1 point2 points 13 hours ago (0 children) Nah everyone gets money. permalink embed save parent report give award reply [–]WineMakerBgTin 1 point2 points3 points 13 hours ago (2 children) TLDR: Indulgence Paid - Full remission of all sins. permalink embed save report give award reply [–]Probably_notabotTin | CC critic 2 points3 points4 points 7 hours ago (0 children) Time to move on to some fresh, new sins permalink embed save parent report give award reply [–]CryptizardAcademic Cryptographer 0 points1 point2 points 2 hours ago (0 children) Why would you make a TLDR when you didn’t even read the article yourself? That’s not what happened at all. permalink embed save parent report give award reply [–]Unleashyourstand 0 points1 point2 points 13 hours ago (4 children) With money, anything is possible 💫 permalink embed save report give award reply [–]002_timmy 2 points3 points4 points 13 hours ago (1 child) With money & crime permalink embed save parent report give award reply [–]InsaneMcFriesPlatinum | QC: CC 256 0 points1 point2 points 12 hours ago (0 children) Rules for thee, not for me permalink embed save parent report give award reply [–]SimbaTheWeaselBronze | QC: ALGO 18 1 point2 points3 points 9 hours ago (0 children) 🚀🚀🚀 we need more dollars! permalink embed save parent report give award reply [–]sdc_gimPlatinum | QC: CC 106 | BANANO 8 0 points1 point2 points 13 hours ago (0 children) BULLLLLL! permalink embed save report give award reply [–]Dubby635 0 points1 point2 points 13 hours ago (0 children) Someone bent over and took it from Uncle Sam. permalink embed save report give award reply [–]Probably_notabotTin | CC critic 0 points1 point2 points 13 hours ago (0 children) Makes me wonder how much Binance paid for this “compromise” permalink embed save report give award reply [–]bvandepol 0 points1 point2 points 13 hours ago (0 children) You're fired Binance.. No I quit.. permalink embed save report give award reply [–]Mediocre_Suspect_203Tin 0 points1 point2 points 12 hours ago (0 children) So sec fucked around…it’s dripping…lots of big new player buy in and it’s going up… permalink embed save report give award reply [–]Illicitterror 0 points1 point2 points 12 hours ago (1 child) CZ got to Pay to Play. permalink embed save report give award reply [–]SimbaTheWeaselBronze | QC: ALGO 18 0 points1 point2 points 9 hours ago (0 children) Pay and play with CZ 👀 permalink embed save parent report give award reply [–]MajorLeons 0 points1 point2 points 12 hours ago (0 children) The special digital repo statement is a good one. I hope the same process can be done to other exchanges. permalink embed save report give award reply [–]RobCali509Platinum | QC: LTC 621 | BCH critic | TraderSubs 610 0 points1 point2 points 11 hours ago (0 children) Get ready for the super cycle permalink embed save report give award reply [–]elysiansaurusPlatinum | QC: CC 20 | CAKE 6 | r/WSB 286 0 points1 point2 points 8 hours ago (0 children) Binance is saved boys, BNB to the moon! /s permalink embed save report give award reply [–]Pr0MeisterTin 0 points1 point2 points 8 hours ago (0 children) I expect the EU will try to barter something similar to ensure the funds of its citizens. permalink embed save report give award reply [–]Inevitable-Lie-4277Tin 0 points1 point2 points 5 hours ago (0 children) Let's see effect of this on market permalink embed save report give award reply [–]NimChimspkyBronze | Java 16 0 points1 point2 points 5 hours ago (0 children) The correct pockets were lined permalink embed save report give award reply [–]Crazyskipper18 0 points1 point2 points 1 hour ago (0 children) customers of US are permitted to withdraw funds from the platform, according to the order filed by US judge Amy Berman Jackson in Washington federal court. permalink embed save report give award reply [–]organisednoiseTin 0 points1 point2 points 17 minutes ago (0 children) Binace seems too big to fail. The amount of sketchy practices they have to funnel money from A to B, allows them to throw as much money as they need to get out of any problem. permalink embed save report give award reply [–]The-Francois8Silver|QC:CC928,BTC178,ETH39|CelsiusNet.50|ExchSubs42 -1 points0 points1 point 12 hours ago (0 children) I mean I know this is good for crypto, short term and long, but part of me enjoyed seeing CZ squirm a little. permalink embed save report give award reply [–]456080107Tin | LRC 5 -1 points0 points1 point 5 hours ago (0 children) GIANT FUCKIN HEAD permalink embed save report give award reply