Trump's Binance Pardon: So the Swamp Just Gets Crypto Now?
Alright, let's get one thing straight: Trump pardoning the Binance founder? It ain't about justice, innovation, or whatever BS they're slinging. It's about cold, hard cash and the swamp finally figuring out how to swim in crypto.
The Billion-Dollar "Oops"
CZ, the Binance founder, pleads guilty to letting his platform be a playground for terrorists and drug dealers. Binance gets slapped with a multi-billion dollar fine. Then, BAM! Trump, fresh off launching his own crypto venture, waves his magic wand and makes it all go away.
The White House PR spin? "Biden's war on crypto is over!" Give me a break. This isn't ending a war; it's picking a side – the side with the deepest pockets. And who’s profiting? Trump, his family, and all their crypto cronies.
Elizabeth Oyer, the former pardon attorney, calls it "corruption, plain and simple." She says Zhao was enabling criminal activity, and "wasn’t close to meeting Justice Department guidelines for a pardon." She was fired soon after. Coincidence? I think not. Trump Pardon for Binance CEO Was ‘Corruption’—Former DOJ Pardon Attorney
Then again, am I the crazy one for thinking this is shady?
The Huione Connection
Here's where it gets extra juicy. The International Consortium of Investigative Journalists (ICIJ) found that even after Binance's guilty plea, hundreds of millions of dollars kept flowing through the platform from shady groups like the Huione Group – a Cambodian outfit linked to human trafficking and scams. $408 million, to be exact. And OKX, another exchange, wasn't any better, processing over $161 million even after Huione was flagged as a money laundering risk.
"Normally that halts everything," says anti-money laundering specialist Ross Delston. "If the federal government just told you that this entity is a high risk for money laundering or terrorist financing, you'd be crazy to continue any financial dealings with them."
Binance's response? They're "an industry leader" in spotting suspicious activity. Right. More like industry leaders in plausible deniability.
It's like a damn cartoon villain saying, "We're doing everything we can to stop crime!" while stuffing bags of cash into their pockets.
And let's not forget the North Korean hackers laundering stolen crypto through Binance. $900 million worth, according to ChainArgos. "Binance should have caught these," their CEO Jonathan Reiter said. Yeah, no kidding. Crypto giants moved billions linked to money launderers, drug traffickers and North Korean hackers
It begs the question: are these exchanges incompetent, complicit, or both?
The Swamp's Crypto Upgrade
So, what's the takeaway? The "elite" are now openly playing the crypto game. Trump’s pardoning criminals. His sons are raking in millions from crypto assets. And the exchanges? Well, they're either turning a blind eye or actively profiting from the mess.
It’s not about the technology or the future of finance. It’s about power, money, and the same old swamp, just with a fresh coat of crypto paint.
It all makes me want to scream into a pillow. Or maybe just move to a cabin in the woods and swear off technology forever...
It's all so tiresome.
So, What's the Real Story?
It's corruption. Always has been, always will be. The only difference is, now it's got blockchain.