Binance saw 44,000 Bitcoin withdrawn in a single day following heightened regulatory scrutiny by the U.S. government.
Simon Dixon argues that the U.S. government’s influence over Binance’s compliance protocols extends to broader geopolitical actions.
Dixon warns that freezing Palestinian accounts could exacerbate humanitarian concerns, advocating for the self-custody of Bitcoin.
Investor Simon Dixon reported a significant Bitcoin withdrawal from Binance, with approximately 44,000 BTC (worth around $3 billion) leaving the platform in a single day. This news coincides with recent regulatory scrutiny faced by Binance, including a settlement with the U.S. Department of Justice (DOJ). Bitcoin prices also dipped, reflecting a volatile market sentiment, falling 4.68% to $59,174.53 in the past 24 hours.
44,000 #Bitcoin ($3bn) have been withdrawn from #Binance today
Free Palestine. https://t.co/f3ruDV2QiO pic.twitter.com/EmvNPRcGUc
— Simon Dixon (@SimonDixonTwitt) August 28, 2024
Binance’s compliance operations are now overseen by a U.S.-appointed team, essentially functioning under federal regulations similar to a bank. This follows a DOJ settlement that has inte…
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