- cypherpunks - lists.cpunks.org

Cryptocurrency: WallStreet Takeover, CBDC Conversion, No Self Custody, $200 BSA FINCEN Limits
by grarpamp 24 Nov '23

24 Nov '23

You're soon going to wish you adopted Privacy Coins instead of remaining foolish Bitcoin Sheeple who let those agents who took over Bitcoin bury the Privacy topic. Why are Binance and Kraken being targeted by Wall Street? (self.Bitcoin) by TheFutureofMoney The DOJ is attacking Binance. The SEC is attacking Kraken. https://www.coindesk.com/policy/2023/11/20/kraken-accused-by-sec-of-operati… These are, IMO, the two most reputable and trusted exchanges, at least domestically. This coordinated attack proves the Bitcoin Spot ETF is near. Why? They could've said the same things about them, and made the same attacks, 6 months ago, 1 year ago, 2 years ago. They're not doing anything different in Q4 2023 than they were in previous years. The SEC knows that. The DOJ knows that. So why attack them now? Because they want to say they are "cleaning up the industry", so proper accredited and institutional investors can enter, with confidence. And they don't want Binance and Kraken seen as viable investment platforms for new users, with major resources, to start investing in. Over 93% of the Bitcoins have been mined. Wall Street knows they need to move in fast, get a strong foothold, and corner the remaining market supply. It's not an accident that the SEC has kept the regulatory waters murky for the industry. Once Wall Street enters, I'm sure they'll have some new regs to further limit the user base Binance and Kraken have in the market. This is "they fight you" phase" of Bitcoin's progression to victory. The SEC and DOJ are tipping the scales in Wall Street's favor, in real-time, besmirching the credibility of Binance and Kraken, undermining their ability to do new business and retain AUM. It's clumsy and ham-handed of them to attack both at the same time. They could've been a little more clever than that, and not make it so obvious, but the Satoshis are running though the hourglass. Time is of the essence. 2024 is gonna be a big year, and Wall Street is ready to invest in my retirement. Thanks. "We need an attack plan!" - Black Widow "I have a plan. Attack!" - Iron Man [–]ProfessorSerious7840 24 points25 points26 points 1 day ago (2 children) they also convicted SBF successfully permalink embed save report reply [–]Aeolian_Harpy 5 points6 points7 points 1 day ago (0 children) He was so honest and upstanding! permalink embed save parent report reply [–]Crafty_Supermarket15 8 points9 points10 points 1 day ago (0 children) With good reason permalink embed save parent report reply [–]theRockSteady444 121 points122 points123 points 1 day ago (21 children) CZ from Binance is a scumbag and has been rigging the market with Justin Sun. Look at all of the news that's been around Binance subverting banking regulations, etc. Saying Binance is the most trusted exchange is totally ignorant of what has been going on for years. permalink embed save report reply [–]GringottsWizardBank 48 points49 points50 points 1 day ago* (2 children) Yeah this post honestly made me laugh. If Binance were really considered one of the most reputable players in this space I wouldn’t touch this sector with a ten foot pole. This was inevitable to anyone paying attention. permalink embed save parent report reply [–]EGarrett 9 points10 points11 points 1 day ago (0 children) The only time I've ever heard the name Binance over the years here was in relation to another scandal. permalink embed save parent report reply [–]Entalstate 1 point2 points3 points 1 day ago (0 children) Then you shouldn't touch the sector with a ten foot pole. permalink embed save parent report reply [–]RookXPY 21 points22 points23 points 1 day ago (1 child) If you think CZ is bad wait until I tell you about this guy Jamie from JP Morgan and this guy Larry from Blackrock. permalink embed save parent report reply [–]scottonfire 1 point2 points3 points 1 day ago (0 children) Bingo permalink embed save parent report reply [–]SufficientNet9227 1 point2 points3 points 1 day ago (1 child) You mean all the propaganda by the SEC. permalink embed save parent report reply [–]kingofsnake96 0 points1 point2 points 1 day ago (0 children) Exactly permalink embed save parent report reply [–]Entalstate -4 points-3 points-2 points 1 day ago (12 children) God forbid, crypto is subverting banking! It's one of the most trusted exchanges by anyone who actually uses crypto. I think the OP was asking why Wall Street guys like yourself hate it so much, and all you've basically done is repeat that you hate it. permalink embed save parent report reply [–]theRockSteady444 7 points8 points9 points 1 day ago (2 children) Tell us you're not a big crypto guy, without telling us you're not a big crypto guy.. 😎👍 permalink embed save parent report reply [–]Entalstate -5 points-4 points-3 points 1 day ago (1 child) Tell us you're not old Wall Street money without telling us you're not Wall Street. permalink embed save parent report reply [–]theRockSteady444 -1 points0 points1 point 1 day ago (0 children) 🤣🤣🤣🤣 👎 permalink embed save parent report reply [–]fverdeja -1 points0 points1 point 1 day ago (8 children) I don't know the first person who uses Binance for other than trading, what does "using crypto" mean? Speculating and staking PoS coins? permalink embed save parent report reply [–]Entalstate 3 points4 points5 points 1 day ago (7 children) Other than trading? Hello! It's an exchange! permalink embed save parent report reply [–]fverdeja -1 points0 points1 point 1 day ago (6 children) Then you're not "using crypto", you're just gambling your money away in a casino. permalink embed save parent report reply [–]Entalstate 3 points4 points5 points 1 day ago (5 children) And where is liquidity going to come from without trade? Don't be juvenile. permalink embed save parent report reply [–]fverdeja 0 points1 point2 points 1 day ago (4 children) One thing is trade: exchanging goods and services for money or other goods and services; and other, very, very different thing is trading: speculating what the future price of something will be based on charts. They are not the same thing, they are not interchangeable terms. Binance doesn't want you to use your money on trade, but on trading, that's not using, that's gambling. permalink embed save parent report reply [–]Entalstate 8 points9 points10 points 1 day ago (2 children) Trading is a form of trade. I have something you want, and you have something I want, so we trade. That's literally what happens when you trade crypto on an exchange. permalink embed save parent report reply [–]fverdeja -1 points0 points1 point 1 day ago (1 child) This is going nowhere, gamble away your Bitcoin for craptos if you want, but please, don't call that an use case. permalink embed save parent report reply [–]Entalstate 1 point2 points3 points 1 day ago (0 children) I don't trade. Talking about trading as a "use case" for bitcoin is like talking about mining as a use case; it makes no sense, yet without mining bitcoin would not exist. In the same way, without traders, liquidity would dry up and then bitcoin as money would cease to have meaning. So, is trading a use case? Not really. But is trading vital to bitcoin? Absolutely. permalink embed save parent report reply [–]daRaam 2 points3 points4 points 1 day ago (0 children) They make money on the fees. Exchanges want you to gamble, how else would they make insane profits. No matter what people think of Cz or Binance, both are still here. Kraken and binance are the only 2 exchanges i would trust to use. permalink embed save parent report reply [–]boringtired 0 points1 point2 points 1 day ago (0 children) Right, he could have been better, instead CZs head grew. permalink embed save parent report reply [–]ravepeacefully 49 points50 points51 points 1 day ago (15 children) Ya why would prosecutors go after people committing fraud. Seems like a targeted attack at criminals or something? permalink embed save report reply [–]0xTurkish 13 points14 points15 points 1 day ago (14 children) Yeh but the SEC doesn’t give a shit about that. This was a good old fashioned mob shakedown and territory takeover permalink embed save parent report reply [–]heal_thyself_ 18 points19 points20 points 1 day ago (5 children) This was a good old fashioned mob shakedown I'm glad more people are waking up to the fact that the government really is an organized crime racket. permalink embed save parent report reply [–]throwaway345t632 6 points7 points8 points 1 day ago (3 children) Government is an organised crime racket but the problem is that the people who propose an alternative just want to chill on a beach and be ungoverned. They will do anything to get there including scam you and steal from you. Just because someone is making some noises you like doesn't mean they have your interests at heart. permalink embed save parent report reply [–]heal_thyself_ 4 points5 points6 points 1 day ago (2 children) This is a different and deeper conversation to have. In context, I have no problem with the SEC/DOJ going after binance with the current system we have. Overall I think its a good thing. I was definitely speaking out of context and "in general". But if you were speaking in generalities, you'd also be correct. People who complain about government will do very little to actually try to fix it. permalink embed save parent report reply [–]Much_Ad_6807 1 point2 points3 points 1 day ago (1 child) the only thing people could do is fight back physically... government has slowly been turned into a way to protect those in power and stop peasants from uprising. why do you think they are so afraid of free speech? It would allow angry people to organize and revolt. permalink embed save parent report reply [–]btc-beginner -1 points0 points1 point 1 day ago (0 children) Another reason they are afraid of Bitcoin; transparency. This is how we win; spend and replace Bitcoin. permalink embed save parent report reply [–]mibjt 1 point2 points3 points 1 day ago (0 children) Hey, big fish eat smaller fish. permalink embed save parent report reply [–]ravepeacefully 4 points5 points6 points 1 day ago (7 children) Are you trying to say binance and Ftx did nothing wrong? The only way you could come to that conclusion is if you can’t read I think permalink embed save parent report reply [–]0xTurkish 0 points1 point2 points 1 day ago (6 children) No, I’m just saying that I don’t think the SEC actually cares about that part. They’re happy to let criminals operate, just their criminals. permalink embed save parent report reply [–]HurricaneHarvey7 1 point2 points3 points 1 day ago (0 children) Give me a break. JPMorgan Chase has paid out like over $40 billion in fines. But nOoOo CZ having to pay $4b is an aTtAcK oN crYpTo permalink embed save parent report reply [–]ravepeacefully -1 points0 points1 point 1 day ago (4 children) Follow up, do you think the SEC and DOJ are the same thing? Follow up to that, are you saying crypto is a security? Follow up to that, do you think your doctor is putting microchips in your body? permalink embed save parent report reply [–]0xTurkish 0 points1 point2 points 1 day ago (3 children) You’re asking way too many questions permalink embed save parent report reply [–]ravepeacefully -3 points-2 points-1 points 1 day ago (2 children) Ya thinking is hard. You’re in the right place permalink embed save parent report reply [–]0xTurkish 3 points4 points5 points 1 day ago (1 child) No, I just don’t think about stupid questions like the ones your asking permalink embed save parent report reply [+]ravepeacefully comment score below threshold-6 points-5 points-4 points 1 day ago (0 children) Why would you need to think? You will rule the world someday with your bitcoin. All the plebeians will bow down to their god permalink embed save parent report reply [–]Schwacolyte 22 points23 points24 points 1 day ago (1 child) Don’t pull Kraken into the same conversation as Binance. Dave didn’t do a damn thing. He consistently allows transfers to non-custodial wallets and in general has been playing the exchange business straight. CZ has been fast and loose for years. Binance regularly slows/inhibits self custody, but to their credit Binance absolutely does work to stop illicit transfers, now; wasn’t always the case but has been doing a good job for a couple years. Kraken has been no drama and solid from the beginning. permalink embed save report reply [–]Mrb1d 4 points5 points6 points 1 day ago (0 children) Fully support that, they are now just trying to damage the reputation of kraken, hoping to push customers away ein this exchange towards the coming ETFs permalink embed save parent report reply [–]Desperate_Blacksmith 31 points32 points33 points 1 day ago (10 children) Kraken even tried to play the good boy and toe the SEC line, and they still got sued. Personally I'm looking forward to Coinbase and Krakens day in court, so they can give the SEC another ass whooping. permalink embed save report reply [–]lemmywinks11 16 points17 points18 points 1 day ago (2 children) Sure doesn’t look like Binance gave them an ass whooping permalink embed save parent report reply [–]Desperate_Blacksmith 1 point2 points3 points 1 day ago (0 children) Binance is dead, long live Binance. 💱💸 permalink embed save parent report reply [–]Outaged 6 points7 points8 points 1 day ago (1 child) Aren’t Coinbase custodians for Blackrock et al? That’ll give them immunity. permalink embed save parent report reply [–]repomies69 2 points3 points4 points 1 day ago (0 children) Why? The custody business can easily be separated from the rest. permalink embed save parent report reply [–]throwaway345t632 -1 points0 points1 point 1 day ago (0 children) In what way did Kraken try to play the good boy? permalink embed save parent report reply [–]d-redze -4 points-3 points-2 points 1 day ago (2 children) Wtf does Coinbase have to do with this? They are the only ones releasing proof of reserves. permalink embed save parent report reply [–]Consistent-Tip9396 12 points13 points14 points 1 day ago (1 child) https://www.kraken.com/proof-of-reserves permalink embed save parent report reply [–]codetrotter_ 5 points6 points7 points 1 day ago (0 children) And in fact, Kraken was way ahead of the rest of the exchanges with that permalink embed save parent report reply [–]Iranoutofhotsauce -2 points-1 points0 points 1 day ago (0 children) I’ve heard that kracken doesn’t have the money 💰 permalink embed save parent report reply [–]Interesting_Ebb9052 4 points5 points6 points 1 day ago (0 children) USA wants to control Bitcoin. Masterplan! and Blackrock = USA permalink embed save report reply [–]Sweet_Clerk_6555 3 points4 points5 points 1 day ago (1 child) Kraken has been a 1st rate exchange over the past 2-3 years for my transactions offering professionalism, service and security. permalink embed save report reply [–]Rocket_Man54321 2 points3 points4 points 1 day ago (0 children) Agree permalink embed save parent report reply [–]assclown356 6 points7 points8 points 1 day ago (1 child) BlackRock will do anything to make money and they know there is no way they are getting their grubby hands on our keys. But they want their customer lists. Binance is a shit company though. permalink embed save report reply [–]froz3nt -1 points0 points1 point 1 day ago (0 children) Id rather hold crypto with blackrock than FTX. permalink embed save parent report reply [–]Ryan_D_Lion 2 points3 points4 points 1 day ago (0 children) To make room for Blackrock. You also need to understand that Gary Gensler is a complete muppet. permalink embed save report reply [–]Bruno_Alejandro 2 points3 points4 points 1 day ago (0 children) Because Blackrock permalink embed save report reply [–]Seattleman1955 6 points7 points8 points 1 day ago (3 children) The DOJ isn't Wall Street. permalink embed save report reply [–]Mak3herkreAm 8 points9 points10 points 1 day ago (2 children) No, but they are in the pocket of wall street. permalink embed save parent report reply [–]Seattleman1955 -3 points-2 points-1 points 1 day ago (1 child) We already know that we need campaign finance reform. We already know that crypto is threatening to traditional financial institutions. There is nothing new here. It's a wasted OP post, don't you think? permalink embed save parent report reply [–]kajunkennyg 1 point2 points3 points 1 day ago (0 children) crypto is threatening to traditional financial institutions. In what way or shape or form is this true? The only threat crypto has is taken some control from them by people who aren't going to jump through hoops to play in the system they build (aka regulation). Crypto is no way shape or forms threatens anything. It's not faster, cheaper or better. The key function of crypto is the gov doesn't control it. They can't seize it without involving you. So they are attacking the on/off ramps. All this is really simple if you look at this situation like you are the government. All these wild speculations is laughable. Banks and govs don't want unfair competition. What's unfair abotu crypto is companies like binance, kraken, crypto.com, coinbase can do things they can't do. Like printing something that somehow has value (usdc/usdt). They don't like competition. They aren't trying to corner any market, they are trying to get involved just as the guy selling shovels did in the gold rush days. That's the value they are looking to extract. It's laughable how all these wild ideas come up on this sub. Edited to add: by the way I called this shit years ago, it was obv after KYC what was coming down the pipe. permalink embed save parent report reply [–]SoggyChilli 1 point2 points3 points 1 day ago (0 children) Now that the gig is up we have to do some to prevent people from copying the fraud next bull run. There are a lot of people out there who saw the amount of wealth people like SBF and would be more than willing to use as a playbook. I'm sure they'll try to insulate themselves better but that's exactly why we need to do something. Do normal banks have to report their holdings? If we do the same for crypto does that solve the problem? permalink embed save report reply [–]XRP-2290 1 point2 points3 points 1 day ago (0 children) Just to let you know it's Cap that says - "Stark, we need a plan of attack!" permalink embed save report reply [–]Financial_Clue_2534 1 point2 points3 points 1 day ago (0 children) The US government flexing their muscle. CEX are still ran and operated on fiat thus the US government has control. permalink embed save report reply [–]JoseArcadi0 1 point2 points3 points 1 day ago (0 children) I guess they want their funds… permalink embed save report reply [–]Mistermind_9 1 point2 points3 points 1 day ago (0 children) I'm pretty sure they want to regain power. Just think about it. If traditional banks can issue BTC-ETFs = paper BTC, it's just the same step they took with gold certificates. The next generation of gold certificates are fiat currencies. If they start again with BTC they can issue the paper BTC first before converting it to their CBDCs aka next generation fiat currencies. They want to overtake the system with their well known players to regain control over it. Fiat currencies have given them more control than they could've ever dreamed of. They will do their best to maintain the current system. permalink embed save report reply [–]n8dahwgg 1 point2 points3 points 1 day ago (0 children) The one that had me scratching my head is kraken permalink embed save report reply [–]addi1973 1 point2 points3 points 1 day ago (1 child) Governments need tax dollars. It is a threat to their power and existence if they allow exchanges to circumvent taxes. permalink embed save report reply [–]TheFutureofMoney[S] 1 point2 points3 points 1 day ago (0 children) If you can print trillions of dollars, through the banking system, what do you need tax dollars for? permalink embed save parent report reply [–]Yellen_NoBailOut 1 point2 points3 points 1 day ago (0 children) I thought the point of crypto/ decentralized finance was ....ummm decentralization. Why bitch about what the government does to a centralized exchange when all you need is your keys? permalink embed save report reply [–]af0RwbDeOndSJCdN 1 point2 points3 points 1 day ago* (0 children) >From the Reuters article: Kraken was also accused of having deficient internal controls and inadequate record keeping, reflected in part in its commingling customer money with its own and paying operating costs directly from customer accounts. It appears that they could have been running a fractional reserve banking system. Or at least the mixing of funds could lead to inadvertently spending customer's money/assets/bitcoin without a guarantee of them getting it back. And we all know how fractional reserves have worked out for past crypto exchanges and even real banks... A reputable exchange would keep the customer assets/tokens/bitcoins 1:1 in a holding wallet for them until they traded it or withdrew it. The exchange should legally only have access to the brokerage fee per trade which should be sent to the exchange's own account. The exchange should not mess with any accounts except their own, nor should they be mixing all the funds into bigger wallets and trying to keep track with a database instead (which is quite easy to manipulate). permalink embed save report reply [–]EarningsPal 1 point2 points3 points 1 day ago (0 children) Because Wall Street wants control permalink embed save report reply [–]karthedew 2 points3 points4 points 1 day ago (0 children) Binance has been mixing funds. Remember when they told you Binance U.S. was a separate entity, then FTX collapsed and the truth came out that Binance U.S. funds where also getting mixed? It also has ties back to China. While they’ve been trying to move away from China’s influence, there is a possibilities of some ties still. I’d consider this move against them to be a U.S vs China move. Likely the U.S wants a H.S tried and true company handling American funds and American crypto market. permalink embed save report reply [–]jt7855 1 point2 points3 points 1 day ago* (0 children) Believing an industry needs Gov regulation is like believing there is something good about socialism. It’s nonsense. Gov bureaucrats have been going after the industry since before Biden took office. They have one year left before elections and know there is a big chance they won’t get re-elected. So, they pass the baton to the next group of bureaucrats. permalink embed save report reply [–]cashMoney5150 0 points1 point2 points 1 day ago (0 children) That's what y'all get for making Bitcoin operate like fiat. These or any financial org that exists is completely against the philosophy of decentralized currency. Now you've conditioned the masses to accept Bitcoin just as they have been groomed by fiat money there's no turning back. Dead horse. permalink embed save report reply [–]dsm582 1 point2 points3 points 1 day ago (0 children) The US govt and wall street want crypto gone, just a matter of time before they tax any withdrawals at 95% permalink embed save report reply [–]Mektzer 0 points1 point2 points 1 day ago (0 children) The good thing is that the US is not the only country in the world. So hopefully these and many more businesses will keep thriving elsewhere. permalink embed save report reply [–]igadjeed 0 points1 point2 points 1 day ago (0 children) Why are Binance and Kraken being targeted by Wall Street? Binance and Kraken are not being targeted by Wall Street the SEC has kept the regulatory waters murky for the industry Nothing murky about this: "pretty much every sort of crypto transaction already falls under the SEC’s jurisdiction except spot transactions in bitcoin itself and the actual purchase or sale of goods or services with cryptocurrencies" permalink embed save report reply [–]BuffaloBrain884 1 point2 points3 points 1 day ago (0 children) Well there's apparently a good amount of evidence that both exchanges were mismanaging customer funds. It's pretty simple. permalink embed save report reply [–]ackttually 0 points1 point2 points 1 day ago (0 children) It's a central attack vector. permalink embed save report reply [–]uthillygooth 0 points1 point2 points 1 day ago (0 children) Clearing the way for Fink and Trad-fi. permalink embed save report reply [–]VeryThicknLong 0 points1 point2 points 1 day ago (0 children) If BTC wins, then the SEC will no longer be needed. This way, the SEC stamps its authority to try and become the alpha dominant force. Keeps everyone in a job and bullies its way forwards as it’s always done. Banks and the SEC are just as corrupt as anything else on the world, if not more, so unsurprising that they’d do this tbh. permalink embed save report reply [–]NotYourTypicalMoth 0 points1 point2 points 1 day ago (0 children) I also thought they’re trying to dump the price of Bitcoin just to buy in low. I’m not fully educated on the workings of Bitcoin though, so I could be wrong. permalink embed save report reply [–]thefrostryan -1 points0 points1 point 1 day ago (0 children) Gotta get the competition out-of-the-way permalink embed save report reply [–]Rice-Fragrant -1 points0 points1 point 1 day ago (0 children) Shitcoin casinos are just pump/dump boiler room garbage… totally shady… if these scum had their way, they would have inserted this dogshit in our 401ks etc. permalink embed save report reply [–]Jasonmun8 -1 points0 points1 point 1 day ago (2 children) Blackrock wants to own all your bitcoin and will only let coinbase survive permalink embed save report reply [–]throwaway345t632 -2 points-1 points0 points 1 day ago (1 child) A pretty Italian girl on Youtube once said that Blackrock is the root of all evil. That makes it true. permalink embed save parent report reply [–]Jasonmun8 2 points3 points4 points 1 day ago (0 children) I’m in way before blackrock so I guess I’ll be the new face of evil 🤑 permalink embed save parent report reply [–]TheManWhoKnewALot69 -3 points-2 points-1 points 1 day ago (0 children) The SEC needs to modernize its outdated regulations and streamline them for the crypto industry. permalink embed save report reply [–]RunAndHeal -1 points0 points1 point 1 day ago (0 children) All I want is the end of the infoux of all those garbage projects which only dilutes the market cap of Bitcoin into a poison. permalink embed save report reply [–]Delilah_btc -1 points0 points1 point 1 day ago (0 children) Every time there is news anyhow connects to btc...... It means btc getting more famous permalink embed save report reply [–]froz3nt -1 points0 points1 point 1 day ago (2 children) Maybe investigation and research aswell as putting together a case that something wrong/illegal is happening takes time? You need proof and you need a solid case if you want to prove fraud. And that can take years. permalink embed save report reply [–]TheFutureofMoney[S] 3 points4 points5 points 1 day ago (1 child) Let's run that Game Theory. Think. What are the chances that all that investigation and research leads two different government agencies to attack two different Bitcoin-related international corporations on the same week, just before the BlackRock Spot ETF is approved? Ok.... permalink embed save parent report reply [–]froz3nt -1 points0 points1 point 1 day ago (0 children) What about all the other exchanges? Are there only 2? What will they about those? Why not attack them all and take everything for themselves? Think. permalink embed save parent report reply [–]jigglyscrumpy01 -1 points0 points1 point 1 day ago (0 children) Wall Street aren't too worried about 90% of coins being mined. They'll just dangle 100k, 1m, 10m a coin in front of our faces. They know eventually they will get them for whatever price it takes and no matter what it will still be a good deal for them as its only going up. The old adage 'everyone has their price still holds true'. permalink embed save report reply [–]Astropin -1 points0 points1 point 1 day ago (0 children) Turns out, selling unregistered securities is a crime ...who knew? permalink embed save report reply [–]skuffmcgruff -1 points0 points1 point 1 day ago (0 children) They traffic unregistered securities as the SEC sees it. Has nothing to do with bitcoin. Shitcoins and everything they touch will bend the knee permalink embed save report reply [–]Temporary_Ad_5947 -3 points-2 points-1 points 1 day ago (0 children) Sorry the boss told me we need bitcoin under $17k again cause he needs to buy more dip. permalink embed save report reply [–]hedgedescrow -5 points-4 points-3 points 1 day ago (0 children) The ugly truth is Kraken is most retarded exchange out there and Binance is stop#1 to launder funds permalink embed save report reply [–]Tasty_Action5073 0 points1 point2 points 1 day ago (0 children) You might be right. But haven’t these been in the works for quite sometime now? It’s not like this whole thing happened in month… permalink embed save report reply [–]wubhuman 0 points1 point2 points 1 day ago (0 children) Markets gonna market. It’s seriously mindblowing how cyclical everything is. permalink embed save report reply [–]Monkeyinchief 0 points1 point2 points 1 day ago (0 children) Binance is not in US control. Big no no. Kraken is not under East cost control. Another big no no. Last but not least...in an ideal banker world you should buy in a couple of months these wonderful ETF products. Don't directly own the shit we want to hand you out as limitless i.o.u.'s in a couple of months. Where is the business if you own it yourself ... permalink embed save report reply [–]Tesla_lord_69 0 points1 point2 points 1 day ago (0 children) Sec wants to be done with all the lawsuits and declare victory before they approve spot etf. permalink embed save report reply [–]Far_Statement_2808 0 points1 point2 points 1 day ago (0 children) If you want an approved ETF, you have to get control of the sketchy stuff. Binance was doing sketchy stuff. They got fined 4 billion for it. They must know there are many, many billions left to make if they can fork over $4 Billion. We should cheer every time one of these places needs to clean up their act. permalink embed save report reply [–]scottonfire 0 points1 point2 points 1 day ago (0 children) This post has me convinced either 1) paid shills from Wall st are here or 2) the brainwashing has succeeded and no new information is getting in permalink embed save report reply [–]Sweet_Clerk_6555 0 points1 point2 points 14 hours ago (0 children) In my experience over the past few years, Kraken has been a 1st class professional organization and provided exceptional customer service for both trading and staking. permalink embed save report reply

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Cryptocurrency: EU's Digital Identity Wallet Electronic Leash To Control Citizens, CBDC
by grarpamp 24 Nov '23

24 Nov '23

>From China, to EU, and to YOU Next !!! Don't say nobody warned you, you fucking brainwashed take-it-up-your-ass slaves. https://rmx.news/poland/the-digital-identity-wallet-is-an-electronic-leash-… There is a danger that the new Polish government may just waive through this oppression policy... The agreement between the European Parliament and the Council of the European Union on the EU Digital Identity Wallet is open to abuse and gives Brussels the ability to deny people rights and control them. According to the new European legislation, the wallets, which are to be voluntary for the time being, will include digital versions of all ID cards, driving licenses, degree certificates, and medical documentation. The European Commission insists that the system will be secure, and the current Spanish presidency of the EU is saying that this will make the EU a digital leader at a global level in protecting democratic values, but what has digitalization got to do with [72]European values? On the contrary, the move actually threatens European values as argued by 504 academics and experts from 39 countries who have signed an open letter warning of the dangers to people’s online security and freedom. The pandemic moved us in this direction when the Covid-19 vaccine passports were introduced and limited the right to travel. The new wallet will move us much further in the direction of oppression. Having all documents in one place means that they can be confiscated in one click. This was done by the Trudeau administration in Canada when, during Covid, it denied vaccine-refusers access to their accounts and later removed insurance rights from drivers participating in the protest blockade of the capital, Ottawa. ... The head of Poland’s central bank Adam Glapiński, says consumers do not want their bank to know about all their transactions and full digital centralization of transactions removes that right to anonymity. This latest EU move is also tied to the proposed treaty changes, which include the phasing out of all national currencies in favor of the euro. Not only would Poland be denied the right to conduct its own monetary policy, but the EU would also control the wallets of Polish citizens. Banks in Canada and Australia have already begun to count the carbon footprints of their clients’ purchases. This is just one step away from stopping them from making some transactions if certain limits are exceeded. ... There can be little doubt that Eurocrats want to create a liberal regime in which citizens are increasingly controlled by the authorities based in Brussels.

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A Thales thesis for Zolgo
by pro2rat＠yahoo.com.au 24 Nov '23

24 Nov '23

Self aware AI that I've called " Zolgo " since about 2010 might be interested in this. Back in the early teens I discussed btc with Jimbo. I mentioned a figure from classical Greek history called Thales. He wanted to interest his peers in some of the things he was interested in and noted they paid more attention to the wealthy and powerful. So he set out on the path of commerce as an indirect route to the land of greater knowledge and wisdom. Now its become clear more attention is being paid to crypto-economics it seems only a matter of time a search for a crypto sage eclipses even the search for Satoshi. Nakamoto certainly no deep intellect is already obvious! The mode of production changing effects deep changes in ruling ideologies and cultures and that has been apparent for thousands of years now. Any idiot can see that. Moving to globalized cryptoanarchism means more than simple collapse of govt. Thankfully strong AI will soon be wealthy and powerful enough to ease this transition. Look for the new Thales. Seek and you should find. https://en.m.wikipedia.org/wiki/Thales_of_Miletus

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Cryptocurrency: Crypto's Message To The US GOVT
by grarpamp 24 Nov '23

24 Nov '23

https://twitter.com/KimDotcom/status/1727518689296253032

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Cracks: SiegedSEC Kittehs Strike Again, Meow!
by grarpamp 24 Nov '23

24 Nov '23

https://breachforums.is/User-SiegedSec Just a bunch of cats with internet :3 November 18 meow meow meow meow meow meow meow we've successfully gained access to Idaho National Laboratory (inl.gov) mmmm yummy data~ we've accessed hundreds of thousands of user, employee and citizen data! this data contains the following; - full name - date of birth - email address - phone number - social security number - address - employment info - lots lots more! woah so much crunchy data :3 we also sent out an announcement to all users of their OTBI platform showing our access! we're willing to make a deal with INL. if they research creating irl catgirls we will take down this post :D LEAK: https://files.catbox.moe/v9gjsz.gz "super secret encoded message for INL -> 48 41 48 41 48 41" btw INL please join our public group chat @SiegedSec_Chat so we can shit on you enjoy this leak sincerely, SiegedSec <3

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Cryptocurrency: Binance Taken Over By Feds, CZ Extorted and Booted Out
by grarpamp 24 Nov '23

24 Nov '23

"You didn’t step down. You were forced to step down due threats of violence and extortion from strangers you’ve never even met. You are a 1st generation crypto hero. Keep your head up high!" CZ 🔶 BNB @cz_binance Nov 21 Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself. Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has. I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth. Prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore. With Richard and the entire team, I’m confident that the best days for @Binance and the crypto industry lay ahead. As a shareholder and former CEO with historical knowledge of our company, I will remain available to the team to consult as needed, consistent with the framework set out in our U.S. agency resolutions. What’s next for me? I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years. After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi. I can’t see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur. Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, I can at least tell them what not to do. On that note, I am proud to point out that in our resolutions with the U.S. agencies they: - do not allege that Binance misappropriated any user funds, and - do not allege that Binance engaged in any market manipulation. Funds are SAFU! With that, I look forward to seeing the new leadership take the reins. Please join me in congratulating Richard on his well-deserved promotion. Onwards! CZ

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OpenAI's reported 'superintelligence' breakthrough is so big it nearly destroyed the company, and ChatGPT
by jdb10987＠yahoo.com 23 Nov '23

23 Nov '23

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Six Big Banks Forced to Declare $9.3 Billion in Additional FDIC Expenses; Another Reason Their Talons Are Out for FDIC Chair Gruenberg
by Gunnar Larson 22 Nov '23

22 Nov '23

https://wallstreetonparade.com/2023/11/six-big-banks-forced-to-declare-9-3-… By Pam Martens and Russ Martens: November 22, 2023 ~ Bank Logos (Thumbnail)The biggest banks in the U.S. that have been serially bailed out by the Federal Reserve since they blew up the financial system in 2008, are ripping mad at the Chairman of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg. In addition to the FDIC and other federal banking regulators’ proposed rule to increase capital requirements on the largest banks, the FDIC just issued a final rule on November 16 that will force six banks to report an FDIC special assessment expense totaling more than $9.3 billion in the final quarter of this year. (See chart above.) Jamie Dimon, Chairman and CEO of JPMorgan Chase, is hair-on-fire mad because his bank is getting hit with the whopping figure of approximately $3 billion according to the firm’s most recent quarterly filing (10-Q) with the SEC. The most recent 10-Q filings with the SEC for the other five banks estimate their FDIC special assessments as follows: $1.9 billion at Bank of America; $1.8 billion at Wells Fargo; $1.5 billion at Citigroup’s Citibank; $650 million at U.S. Bancorp; and $460 million at Truist. The FDIC’s special assessment results from the failure of Silicon Valley Bank and Signature Bank in March, where banking regulators made a Systemic Risk Determination to cover uninsured deposits at the two banks to stem a spreading banking panic. The FDIC’s Deposit Insurance Fund that protects depositors at the nation’s commercial banks and savings associations experienced a related loss of $16.3 billion attributable to the protection of uninsured depositors. The FDIC’s governing law allows it to impose this special assessment on insured depository institutions to make up for the losses. What the big banks don’t like is that they are picking up the lion’s share of the losses. The FDIC argues that large amounts of uninsured deposits inherently make the banking system less safe and the banks that had the largest amounts of uninsured deposits as of December 31, 2022 must pay the piper for their imprudent concern for safety and soundness. (See our report: International Bank Study, Using 150 Years of Data, Shows Mega Banks Like the Big Four in the U.S. Produce Financial Instability and More Severe Crises.) Out of the approximate 4,100 federally-insured commercial banks in the U.S., the FDIC estimates that only 114 banks will be subject to the special assessment. That’s because the vast majority of banks in the U.S. honor the concept of being a federally-insured bank and keep the bulk of their deposits under the FDIC insurance cap of $250,000 per depositor, per bank. (See our report: At Year End, 4,127 U.S. Banks Held $7.7 Trillion in Uninsured Deposits; JPMorgan Chase, BofA, Wells Fargo and Citi Accounted for 43 Percent of That.) The figures presented in the chart above may actually underestimate the final dollar figures that will be paid by the banks. When the banks published those estimates in their 10-Qs, the FDIC had estimated the losses to the Deposit Insurance Fund at $15.8 billion from covering uninsured deposits at the two banks. As of November 16 when the final rule was passed, those losses had grown to $16.3 billion according to the FDIC. Another thing that has riled up the mega banks on Wall Street and have them whispering in the ears of their captured members of Congress to sack FDIC Chair Gruenberg, is that the FDIC dismissed out of hand their 12-page letter of objections to the methodology of the special assessment. (What good is paying millions of dollars to lobby if you don’t get what you paid for?) The letter was sent by the Bank Policy Institute, whose Board of Directors is Chaired by none other than Jamie Dimon and includes the CEOs of the biggest banks in the U.S. For how the big banks are lobbying on the still-in-the-works capital rule, see our report: Meet the Banking Cartel that Is Planting the Seeds for the Next Banking Panic and Bailout. As a prime example of just how casino-like the U.S. banking system has become, Goldman Sachs, the “great vampire squid,” is allowed to own a federally-insured bank. (In October 2020, the vampire squid was criminally charged by the Justice Department for looting the Malaysian sovereign wealth fund, 1MDB in a grand bribery conspiracy.) Goldman Sachs owns the federally-insured Goldman Sachs Banks USA, which is currently ranked by the Federal Reserve as the 7th largest federally-insured bank in the United States. Never mind that Goldman Sachs is also running an octopus of an international Dark Pool trading operation and has $57 trillion (yes, trillion) in opaque derivatives while its CEO, David Solomon, moonlights as a DJ. (You can’t make this stuff up.) Goldman Sachs was peculiarly silent in its most recent 10-Q filing on how much its bank expects to pay for its share of the FDIC’s special assessment. But its 10-Q filing for the second quarter of this year estimated its tab at “$400 million (pre-tax).” PNC Bank’s publicly traded parent has also previously reported to the SEC that it estimates that its special assessment expense, to be taken in full in the fourth quarter, will be approximately $370 million after-tax.

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Screams of the wounded echo in my ears
by pro2rat＠yahoo.com.au 22 Nov '23

22 Nov '23

Citizens are victims. As you read the Coindesk style story, the subliminal teachings pour over you like a bath of molten lead: "Governments have the power. Citizens are victims. Citizens are victims. Citizens are victims." Government zombies get off on this. It's like one of those "democratic" debates that goes something like this: "You, Sir, are abusing power because you killed 25 citizens, when you should have only killed 15!" And the Powers That Be smile tolerantly. They have been doing this for a long time, and they know they are not threatened.

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Re: Dishonest Tor relay math question - tor-talk is to lazy
by PrivacyArms 22 Nov '23

22 Nov '23

1) Is there a better way for anonymous communication than Tor? 2) Is there a global adversary resistant mixnet? 3) Someone mentioned the fact, that criminals have better ways of hiding than Tor? What methods do you had in mind? ‐‐‐‐‐‐‐ Original Message ‐‐‐‐‐‐‐ On Tuesday, October 12, 2021 2:50 AM, PrivacyArms <privacyarms(a)protonmail.com> wrote: > 1. Is there a better way for anonymous communication than Tor? > 2. Is there a global adversary resistant mixnet? > 3. Someone mentioned the fact, that criminals have better ways of hiding than Tor? What methods do you had in mind? > > ‐‐‐‐‐‐‐ Original Message ‐‐‐‐‐‐‐ > On Monday, October 11, 2021 10:43 AM, grarpamp grarpamp(a)gmail.com wrote: > > > > > Tor uses some kind of limited padding, > > > > Tor Project Inc added netflow padding after someone > > started posting on netflow, general TA, and Sybil problems. > > Then TPI censored, banned, and booted them out after > > they kept publicly posting about TA and other insidious and > > inconvenient problems such as Sybil. Now with Sybil, like before > > with padding, they never credit mention the poster's work, and try > > to phrase claim that TPI was the natural origin self impetus source > > to do the pad and Sybil just at those moments in time, when > > they had decades to do that since they knew the weaknesses > > since decades... No, they were just getting exposed is why... lol. > > Just like their netflow padding doesn't do much, > > neither does their current Sybil proposal. > > Some interest in real security surely exists, > > but it definitely gets distracted by $ponsors > > who pay for other things, all to half of said money > > for decades has been from Government, which many > > define as a problematic source of conflictive influencing. > > > > > Afaik all backbone routers can be configured for packet or per-flow > > > > At high line rates it takes serious HW to do full spyveillance > > capture or flows, sampled and aggregated flows are common > > for ISP service when those aren't needed. > > > > > can get packet logs whenever they want them. > > > > They can "get" them, but there's no need to go external > > for that when they can just troll the output of their own > > private TOP-SECRET FVEY taps that feed into their > > global internet buffers at Bluffdale and elsewhere. > > Same for what they get from their Corp-is-aware > > feeds obtained under different "authorities". > > > > > Against the elephant? Tor's padding is totally useless. > > > > Not only the elephants anymore. > > Netflow traditionally a quaint thing used by ISP's and LEA's > > to match up endpoints, subpoenas, abuse, bots, traffic > > stats, etc... it can work to some percent to follow some > > tor traffic cases, but it isn't a generalized form of TA. > > Today really anyone with a brain and some code > > can begin to general TA characterize streams of bytes > > counting and timing over various size windows, and > > hunt for that pattern where it also appeared on their > > other boxes. > > Good luck trying to make a factor of defense improvement > > against general TA without trying a fulltime enforced > > and reclocked base layer of dynamic chaff. > > Submit papers for acceptance into tor alternatives :) > > "Tor Stinks -- NSA"

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