TLDR Index
TLDR Crypto

TLDR Crypto 2023-04-12

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01MARKETS & BUSINESS

02INNOVATION & LAUNCHES

03GUIDES & TUTORIALS

04MISCELLANEOUS

BANKS ARE CLOSING CUSTOMER ACCOUNTS, WITH LITTLE EXPLANATION

Banks are taking a harder look than ever at customers' transactions due to increased fraudulent activity during the pandemic. Financial institutions filed 1.4 million Suspicious Activity Reports (SARs) in 2021, 70% higher than in 2014. However, a 2018 study found that only 4% of SARs warranted follow-up from law enforcement. The rise in account closures has caused significant disruption to customers, leading to twice as many complaints about closures in 2021 compared to 2017. Increasingly, those who have crypto activity into and out of their banks have been targets of these closures.

archive.ph12 min read

SHAPED CRYPTO’S MOST POWERFUL FOUNDER

Changpeng Zhao, the founder of Binance, the world's largest and most influential cryptocurrency exchange, has a dual persona: the affable, mild-mannered individual and the tough executive. Zhao's business practices have put him under scrutiny as governments, including the U.S., accuse Binance of deception and violating international sanctions and money-laundering rules. Binance now claims to prioritize compliance. Zhao's background, including experiences in Canada and China, have contributed to his ability to navigate the cutthroat early years of China's tech scene while maintaining a friendly, non-threatening public image.

archive.ph30 min read