this post was submitted on 23 Nov 2023
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242
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 L4s@lemmy.world to c/technology@lemmy.world
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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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[–] stifle867@programming.dev 9 points 11 months ago (2 children)

They should use a portion of these funds to setup specific task forces to dig deeper into the company and provide oversight indefinitely. $4.3B is a lot of money, you could fund an agency forever and still have change.

[–] drmoose@lemmy.world 4 points 11 months ago

Implying they do this for truth and justice. US just doesn't want anyone to eat their cake.

[–] JJROKCZ@lemmy.world 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

[–] stifle867@programming.dev 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.