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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.

2023.04.12
archive.ph12 min readTLDR Crypto

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.

2023.04.12
archive.ph30 min readTLDR Crypto

WINKLEVOSS TWINS LEND $100 MILLION TO THEIR GEMINI CRYPTO PLATFORM

Billionaire twins Tyler and Cameron Winklevoss recently provided a $100 million loan to their embattled crypto exchange, Gemini, amidst a market downturn for digital assets. After failing to secure outside funding, Gemini has faced setbacks, including a decrease in global spot trading volume and an overall slowdown in all facets of the market due to bear market forces. Fallout from FTX's collapse and lawsuits from the SEC and CFTC have further impacted Gemini, which previously raised $400 million at a $7.1 billion valuation in November 2021.

2023.04.11
archive.ph2 min readTLDR Crypto

2023.04.11
barnabe.substack.com22 min readTLDR Crypto