The article has a list of violations that Binance has admitted to.
In addition to funding Hamas and ISIS, it includes money transfers to Russian-occupied Ukrainian territories, Russian darknets, tens of millions of dollars in ransomware, North Korean hackers, and more than 1,000 child porn transactions.
Crypto’s product-market fit seems pretty clear by now.
Surprise! Lack of regulation entices and encourages criminal behavior --- including market manipulation (a player with large volume (aka Binance) *is* the "market"), money laundering and fraud.
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[ 0.23 ms ] story [ 33.1 ms ] threadIn addition to funding Hamas and ISIS, it includes money transfers to Russian-occupied Ukrainian territories, Russian darknets, tens of millions of dollars in ransomware, North Korean hackers, and more than 1,000 child porn transactions.
Crypto’s product-market fit seems pretty clear by now.
For every winner in the crypto "marketplace", there is a corresponding loser somewhere. But you wouldn’t see that in research such as this.
It also has numerous commercial purposes in various products.