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Binance founder Changpeng Zhao agrees to step down, plead guilty

wsj.com

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Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#11

Post by boeingUH60 »

ivanmontillam wrote: post #8
boeingUH60 wrote: post #6

He'll pay $4.3bn in fines and likely be sentenced to probation or short home confinement instead of prison...in exchange for not being a US fugitive. He'll step down from Binance and live the rest of his life with billions. Sounds like a good deal :)

For a purposeful human being, that is also a miserable life. Pretty much like you cannot eat your favorite food anymore and have to settle with "the next best" (philanthropy, maybe?)

Haha, I was actually referring to being a US fugitive as the miserable life, which Zhao obviously wants to avoid.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#13

Post by Kranar »

colesantiago wrote: post #2

Good. May the entire of crypto be brought down with it.

How does this in any way deter crypto, if anything it strengthened it. Binance continues to operate, Zhao won't face any actual penalty and continues to be a billionaire.

Seems to me like Binance and crypto is the winner here.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#14

Post by WinstonSmith84 »

pwb25 wrote: post #4

[flagged]

It depends on how you see things. Some would argue, the SEC is good at doing business. Others would say that Binance will pay cause it's just the cost of doing business. Every trading / security / exchange company is in the same boat, they just have to keep paying to do their business.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#17

Post by tw04 »

pwb25 wrote: post #4

[flagged]

The SEC and DOJ don't exist to stop crimes in real-time - that would be basically impossible. They exist to uncover and punish crimes that have already occurred in order to dissuade others from doing the same.

They appear to be doing a fine job of both. Or were you looking to prosecute thought crime?

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#18

Post by wonderwonder »

colesantiago wrote: post #2

Good. May the entire of crypto be brought down with it.

Anyone in the variety of South American countries experiencing massive inflation would have been worlds better if they had just parked their money in BTC. Crypto is full of scams but there is also a world of positives and opportunity there.
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