this post was submitted on 23 Nov 2023
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269
Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department (www.businessinsider.com)
submitted 11 months ago by [email protected] to c/[email protected]
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Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::"Can barely buy an AK-47 with 600 bucks," a Binance compliance staffer told his boss in 2019, per regulators.

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[–] [email protected] 1 points 11 months ago (1 children)

4.3B doesn’t last as long as you think, especially once you need to staff 100’s of people, the equipment and tech they need to work, office building(s) for them. Especially if you put that office and staff on either coast. They’ll burn that in 3 years tops

[–] [email protected] 1 points 11 months ago

Would they need all those resources dedicated to just one company? I feel like they wouldn't have spent anywhere near $4.3B. Considering the investigation was started in 2021 so let's say 2 years or $3B. It seems extremely unlikely and even more than 1 order of magnitude off.