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Calvin Ayre: 'Binance is Organized Crime'

Written by:
Jagajeet Chiba
Published on:
Aug/26/2021

CoinGeek founder Calvin Ayre had some harsh words for Binance, cutting right to the chase and referring to the company as being involved in "organized crime".

In doing so via his Twitter account, Ayre tweeted out a piece from the Times of London that declares "Binance is ‘not capable’ of proper supervision".  The damning article was published on Thursday.

That quote is attributed to Great Britain's Financial Conduct Authority.  The watchdog revealed its frustration in trying to engage with Binance Markets, which it cracked down on in June amid concerns about the company’s anti-money laundering standards.

The FCA accused Binance of giving incomplete answers as well as directly refusing to answer some basic questions.

The wider Binance group is used by customers to trade 316 digital currencies including bitcoin and ethereum and claims to facilitate 1.4 million transactions every second on behalf of 13.5 million customers worldwide.

“The FCA considers that the firm’s responses to some questions amounted to a refusal to supply information and that the firm has failed to respond adequately to the FCA’s information requirements,” the regulator said. Binance had declined to provide even basic information, such as “trading names and functions for all group entities globally”, it added. Binance did not comment.

Bitcoin Association to Host BSV Blockchain Conference in Miami September 1

Bitcoin Association, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV (BSV) blockchain and digital currency, today announces that it will host a one-day BSV blockchain conference in Miami on September 1, 2021.  

The event will be for upwards of 100 savvy investors and those in the media looking to cover the BSV Blockchain.   Gambling911.com will be at the SLS Brickell hotel, which plays host to the one-day conference that will specifically center on the development of large-scale enterprise.

Earlier this month, the BSV network set a world record when a 2 gigabyte (GB) block was successfully mined on its blockchain – the largest ever mined on a public blockchain.

To register your interest in attending, complete the application form on the Bitcoin Association website to secure your complimentary place.

- Jagajeet Chiba, Gambling911.com

Business/Financial News

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