So you think because of this story, it means that Binance is a fraud? So who do you suspect they defrauded?
Cant be going around pointing the finger just beause of a bed time story you heard....
Congress demands more oversight in Gary Gensler in SBF connection...
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So you think because of this story, it means that Binance is a fraud? So who do you suspect they defrauded?
Cant be going around pointing the finger just beause of a bed time story you heard....
Binance using 100 of accounts for wash trading, TUSD, their own BNB and of course USDT. Yeah they are a fraud like FTX.
I may have posted this earlier in a different thread, but I don't think so...
I've attached a very interesting Bloomberg piece by Matt Levine, in which he offers his opinion about how and why the SEC cases against FTX, Coinbase, Binance, and Bittrex each have very different facts and circumstances.
Yes but how is that even possible when there is no proof? Court is already noticing a lack of evidence. And all they have is corrupted gary genslers word
Yes but how is that even possible when there is no proof? Court is already noticing a lack of evidence. And all they have is corrupted gary genslers word
tons of proof. The thing about crypto it is public ledger
. Been proved many times where Binance volumes come from.tons of proof. The thing about crypto it is public ledger
They would have to prove that the trades were for manipulation purposes. If they can.
Wash sale also may not apply to crypto since there is no guidance on the rules, since gary gensler didn't make any guidance then none can be taken. So really what law was broken?
They can charge him all they want, but none of it will fly in court.
The SEC's position is that most tokens, including BNB, are securities.
If it is a security, then it is unlawful to intentionally manipulate the price.
Wash sales, in this context, means buying and selling securities, i.e., tokens, to and from yourself, or to another business entity that you control, in order artificially cause the price of the security to go up or down. That is price manipulation.
It is not a reference to wash sales as the term is defined under US tax law. Under US tax law, wash sales are not illegal. They simply trigger the application of special rules that prevent you from reporting a loss if you sell and then buy back the same security within 30 days.
If Binance was selling their own tokens to related parties, and then buying them back at a different price, that may be sufficient to show an intent to manipulate the price, unless they can come up with a really good alternative explanation for why they engaged in those transactions.
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He's definitely dodging the question. The Youtube page does not provide the date of that video.
I have not read the SEC complaints against Binance and Coinbase. But based on many articles I have read, it sure sounds like the SEC is formally asserting that most tokens are securities.
Most legal scholars and other "experts" actually agree that Bitcoin is not a security. And Ethereum is probably not a security.
But most legal experts in the field believe that most other tokens are either securities or commondities, and that they should be regulated as such.
