Link is broken. Here's the SEC press release: https://www.sec.gov/news/press-release/2023-101
And the full 136 page complaint: https://www.sec.gov/files/litigation/complaints/2023/comp-pr...
That is not "sharply" by any stretch of the imagination.
https://i.imgur.com/GSFU7Mu.png
Just your average market fluctuation, or at worst an overreaction and immediate correction. It's best not to try to predict long term market cycles from the 1h candles.
Justin Sun is a snake oil salesman, CZ potentially broke the law while running a legitimate service. One that worked and was actually quite successful.
Intentionally broke the law, according to his own statements. Also, co-mingled personal and client assets like Bankman-Fried.
It's not like there are much laws regulating cryptocurrency markets in the US to begin with. That's the whole point why most crypto companies avoid the US: random enforcements != clarity
But I'm really curious to see whether a large country (e.g. China) or countries union (e.g. EU) is going to provide enough clarity and security as to move the innovation elsewhere from the US.
Curious to hear from the EU
So, no _new_ laws. They still have to follow the old ones.
Not outright breaking them, emailing each other about how much you are breaking them, making memes about how much you are breaking them - yeah, that tends to be pretty well covered.
> As Binance’s [chief compliance officer] bluntly admitted to another Binance compliance officer in December 2018, “we are operating as a fking unlicensed securities exchange in the USA bro.”
Whoops. The press are supposed to say "allegedly" in cases like this, but when your people are on the record admitting that the business is criminal, the public tends to jump to the same conclusion that the courts will inevitably reach.
I'm talking about the comparison of two people and what they are/have been accused of. Not whether any one court claim has legitimate evidence or not.