The Clues Binance Missed That Led to Billions in Crypto Flowing to Iran - The New York Times

kept by eddie mar 27

An NYT investigation reveals Binance overlooked obvious signs for over a year that $1.7 billion in crypto was flowing to Iran-linked entities.

Binance fired employees who found $1.7B in crypto was sent to Iran
Binance fired employees who alerted that $1.7B in crypto had been sent to sanctioned Iran, sparking debate about crypto regulation and corporate accountability.
also on Binance, #sanctions, #cryptocurrency, #business-strategy
In a Memoir Draft, Changpeng Zhao of Binance Details the Talks Leading to His Prison Time - The New York Times
Changpeng Zhao's memoir draft reveals the secret plea negotiations that resulted in his imprisonment and an encounter with ICE after pleading guilty.
also on Binance, #cryptocurrency, #business-strategy
Maduro’s Crypto-Backed Oil Deals Put Tether at Center of Venezuela Money Drama - WSJ
Tether was used by Maduro's regime to dodge sanctions and now serves as a financial lifeline for Venezuelans, a role likely to persist after his arrest.
also on #sanctions, #cryptocurrency
Starting a quantitative trading firm with 0 experience — Jae Chung
The author recounts how his inexperienced team discovered a profitable CEX-DEX arbitrage edge and iteratively optimized it before competition eroded returns.
also on Binance
Sam Bankman-Fried’s Desperate Campaign to Get Free
Sam Bankman-Fried, serving a 25-year sentence for fraud, resists prison life by maintaining his innocence and mounting a campaign for a presidential pardon.
also on #cryptocurrency, #politics