Binance is taking a $200M stake in Forbes
This has big "Bernie Madoff when he was chairman of the NASDAQ" vibes. [1]<p>[edit] For those following along at home, Binance was kicked out of - or saw significant regulatory pressure in - the UK, Japan, Lithuania, the Netherlands, Germany, Malaysia, Hong Kong, South Africa, Thailand, Ontario, Uganda, Malta ... and I think a few others?<p>They're also under investigation by the <i>Cayman Islands Monetary Authority</i>. [2, 3] I am legitimately impressed, it's not easy to get the attention of regulators in the Caymans.<p>It seems Forbes was hot on their tail a while back when they wanted to create strategic bait-and-switch entities in various jurisdictions including the US ("Tai Chi Document"). [4] Binance then sued them for defamation - then voluntarily dropped the suit.<p>I suspect such investigations will no longer be welcome.<p>[1] <a href="https://en.wikipedia.org/wiki/Bernie_Madoff" rel="nofollow">https://en.wikipedia.org/wiki/Bernie_Madoff</a><p>[2] <a href="https://www.cima.ky/binance-not-regulated-by-cima" rel="nofollow">https://www.cima.ky/binance-not-regulated-by-cima</a><p>[3] <a href="https://www.theblockcrypto.com/post/110358/cayman-islands-investigate-crypto-exchange-binance" rel="nofollow">https://www.theblockcrypto.com/post/110358/cayman-islands-in...</a><p>[4] <a href="https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/leaked-tai-chi-document-reveals-binances-elaborate-scheme-to-evade-bitcoin-regulators/?sh=7a8ce81f2a92" rel="nofollow">https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/l...</a>