For Adam Cochran, Binance is far from clean. Reason why he never stopped warning the crypto community about the CZ exchange. In a recent publication on Twitter, the critic did not fail to reveal unflattering information towards Binance and Justin Sun. Zoom !
Cochran tackles Binance again
Everyone wants to take down crypto giant Binance. In addition to the SEC of the United States, the CFTC and the American Justice, the Brazilian Congress seems to have a grudge against Changpeng Zhao’s company. A Ponzi scam story has raised doubts among elected officials in Brazil.
But the list of those unhappy with Binance is long. Adam Cochran, an investor followed by more than 210,000 followers on Twitter, has once again launched an alert regarding this cryptocurrency exchange.
“ Here’s my final article on the Binance FUD, because I think I’ve convinced just about everyone.
But, if you’re on the fence or even just open-minded, I would like you to consider three statements that even my critics will agree with:
1) We all agree that Justin Sun is a sketchbag and that TUSD is a shitcoin that he controls.
2) We all agree on the fact that Binance took more or less significant risks of sanctions.
3) We all agree that Binance US refuses to properly comply with US courts to prove custody of assets. »
Based on this Twitter thread, Coin Edition highlighted this latest attempt at warning Adam Cochran about using Binance. According to his introductory words, the Binance critic thinks he has done everything to convince crypto traders to abandon the CZ exchange.
Binance and TrueUSD (TUSD)
The first point made by Cochran concerns the TrueUSD stablecoin. Binance’s use of this cryptocurrency developed and controlled by Justin Sun, founder of Tron (TRX) is of great concern. Why so much fear about TUSD? Because’there is no guarantee due to its small volume and limited use.
Binance US and question of regularization
The fact that the American branch of Binance has not been transparent regarding his proof of custody of assets also seems fishy. Moreover, his relationship with Ceffu has already been the subject of severe criticism from the SEC. However, its relationship with Sun’s TUSD already constitutes a commitment to risky businesses.
Geopolitical concerns
Already, we agree to cite a possible involvement of Binance with Hamas, against the backdrop of the war against Israel. In addition, the crypto exchange has also invested in small markets representing enormous geopolitical risks such as Binance Cloud in Russia or accounts associated with individuals under the SDN flag.
However, Binance has already announced its withdrawal from Russia in compliance with American sanctions against this country currently at war with Ukraine.
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