BSV Co-Leader Calvin Ayre: Binance is Involved With Money Laundering, Terrorism Financing
It looks like the crowd that supports Bitcoin Satoshi Vision (BSV) has decided to attack someone in the crypto community once more, as it is becoming their normal behavior.
Their target this time is Binance, which delisted their token two weeks ago, which is a clear retaliation for what happened, it seems.
One of the public faces of BSV, Calvin Ayre, which owns CoinGeek and the Ayre Group, has recently called out Changpeng Zhao for laundering money for terrorist groups. He affirmed that the exchange was also involved in market manipulation and “other areas of concern”.
According to the owner of CoinGeek, governments from all over the world were investigating the exchange and that he was not accusing the exchange alone. He linked an article called:
“How To Track Illegal Funding Campaigns Via Cryptocurrency”.
The article was focused on how terrorist organizations were using crypto exchanges in order to ask for funds from their supporters. The article strongly suggested a connection between a Palestinian organization called Al-Qassam Brigades and Binance, saying that the company was being used to fund terrorists.
Al-Qassam is currently deemed as a terrorist organization by the government of the United States and the European Union (among other countries), and they are currently sanctioned, so Binance would be participating in an illegal operation by being used to send money to this group.
A crypto exchange could have serious problems if it is being used by terrorists. It is their responsibility to avoid these cases and, if the article is right, Binance is failing in doing that.
In order to avoid regulatory checks, it looks like Al-Qassam is generating new addresses for each transaction that is done. This way, they keep opening up new wallets and it is much harder to track them this way.
However, since the program started, they only got around 0.6 BTC, which means that this channel is still not as successful as some of the main ones used by groups like this one.
In related news, the RAND Corporation, which is based in the United States, has recently affirmed that terrorists are still not widely using cryptos. According to it, the anonymity and security of the tokens have to be considerably upgraded in order for these groups to finally start using cryptos in an effective manner. There is a risk that they may start doing it in the future but at the moment this is far from being the reality.
Binance is not especially compliant with regulations. The company has moved to Malta in order to get away from the Chinese authorities, which are considered very harsh with exchanges. The company mostly self-regulates its compliance standards, which can be dangerous.
BSV Keeps Attacking Binance
Despite any failings that Binance may have, one should consider that Calvin Ayre is bashing Binance constantly since they delisted his BSV token.
This is far from an unbiased opinion since he is now currently affirming that Binance is a criminal organization and that they launder money more than once, something that he never highlighted before his token was kicked out.
This looks very personal, as the BSV core team seems to have a vendetta against the company. Binance has not publicly answered any of the accusations so far. After it has delisted BSV, Kraken, Bitforex and Shapeshift followed and the value of the tokens went down 20% during this time.