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Binance Seizes Palestinian Funds at Israel's Request (thecradle.co)

submitted 1 year ago by shreddy_scientist@lemmy.ml to c/worldnews@lemmy.ml

7 comments fedilink hide all child comments

Crypto exchange platform Binance has seized the accounts of numerous Palestinian users at the request of the Israeli government for allegedly being linked to “illicit funds” and “terrorist organizations.”

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[–] scottmeme@sh.itjust.works 23 points 1 year ago (1 children)

Businesses need to quit bending over to genocidal maniacs

[–] shreddy_scientist@lemmy.ml 15 points 1 year ago

Couldn't agree more, I don't even see the benefit here for Binance at all, this will be horrible for their PR. Especially since most crypto investors view cryptocurrency as a way to circumnavigate government financial control and the associated inflation. Regardless if you love or hate crypto, FUCK Binance through and through!

[–] nehal3m@sh.itjust.works 17 points 1 year ago (1 children)

Oh yeah it’s so decentralized. No middle men required, oh no sirree.

[+] shreddy_scientist@lemmy.ml -7 points 1 year ago (2 children)

You understand there's over 13,000 cryptocurrencies, right? Your broad statement here is no different from stereotyping someone based on physical appearance. How many whitepapers, aka detailed business plans for coins, have you read? There are always scammers online, in every industry, across the board. But while there are many bullshit coins, there's still unquestionably very solid options.

For example, BTC has no website, no office, no owner, and is fully decentralized. Other examples of decentralized coins include ETH, XMR, ZEC, LINK, DAI, GRT, AAVE, INJ, and MKR to name a few. It's a great practice to research and analyze data before making a statement on topics you're unfamiliar with, but to each their own.

[–] nehal3m@sh.itjust.works 9 points 1 year ago

Cool story. None of it mattered here.

[–] freagle@lemmygrad.ml 6 points 1 year ago (1 children)

Uhhh, ok sweaty? Like, Binance trades in those currencies. The problem is the crypto wallet service ecosystem that was developed and pushed. The coins are decentralized but the wallet platforms are all points of control. And it's the wallet platforms that are spending the money on advertising and social media, not the coins themselves. So the whole ecosystem - outside of the gear heads who knows enough to run their own wallets AND know enough to run them securely and redundantly to avoid loss - the whole ecosystem is intermediated by feds and fed-adjacent actors.

[–] shreddy_scientist@lemmy.ml -1 points 1 year ago

While not every coin is decentralized as referenced above, you know it all inside and out. Especially since "gear heads" are definitely the only people capable of using a USB drive and keeping software up to date for cold storage.