Not a good look for Binance. Even worse that Binance.Us CEO won’t talk about ownership structure. It’s bad to assume, but sounds like somebody is trying to hide something.
I am both unsurprised and disappointed at the same time.
I think I am more on the unsurprised side haha. With crypto, it’s almost like you have to keep a really wide open mind about what people behind them are capable of doing.
Frankly, when it comes to big, powerful companies like that, when it comes to a lot of money, basically, the people behind them tend to be pretty unscrupulous, regardless of whether it’s crypto or fiat money.
Binance, one of the largest crypto exchanges in the world, just announced that it was to start blocking US clients from using its primary platform. All such users will have 90 days to withdraw their funds.
Until this development, US-based users could easily open an account with Binance’s main platform by simply clicking on the “I’m not American” box that appears during the registration process. The exchange will now start blocking these users based on their IP addresses, but not before sending them an email informing them of this action.
Most of these emails read, “ We noted your account may be associated with the U.S. due to an IP address you connected from in the past. In-line with regulatory requirements, we are unable to provide services to U.S. citizens or residents”.
Well, well, well, who would have thought they’d do that, given their troubles?