U.S. Treatment of CZ, Binance Is 'Absurd:' Arthur Hayes
Summary
The former CEO of BitMEX, Arthur Hayes, has claimed in an essay that the charges against Binance and its founder, Changpeng "CZ" Zhao, demonstrate a threat to the traditional US-led global financial system. This follows Binance and Zhao's agreement to pay $4.3 billion in fines for violating sanctions and money-transmitting laws and Zhao being required to remain in the US due to flight risk. Hayes contrasted this treatment to alleged leniency shown towards traditional financial institutions, using examples like Goldman Sachs' CEO not being held criminally responsible for financial scandals. Hayes believes this hostility towards Binance is partly a resistance to decentralization and blockchain technology.
