![]() ![]() Lim’s colleague replied: “Can barely buy an AK47 with 600 bucks.” The complaint says Lim had received information in February 2019 “regarding Hamas transactions” on Binance and told a colleague that terrorists usually send “small sums”, as “large sums constitute money laundering”. ![]() The CFTC claims Binance knew it had facilitated potentially illegal activity, including with the Islamic militant group Hamas. While these are only allegations, of course, they are pretty serious and, if true, put Binance at significant jeopardy.” Warnings about Hamas ![]() “If they have an inside person who can contextualise and provide communications, that is even worse for Binance and CZ. “The CFTC allegations are shocking enough on their own,” says Fischer. Howard Fischer, a partner at New York law firm Moses & Singer, says the material could have been handed over to the CFTC by Binance, another government agency could be sharing the evidence with the CFTC or the material could have been provided by a company insider. It is clear from the evidence presented that the CFTC has access to sensitive material, including the content of Zhao’s phone. Running to 74 pages, the complaint is a long read, but worth it for its claims about the highly unconventional way that Binance operates, its attitude to regulation, its customers – whom senior figures allegedly suggested included terrorists – and how its senior operators were apparently willing to put this all down in writing. Footballer Cristiano Ronaldo is one of Binance’s commercial partners. ![]()
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