Hamas Funneled Money Through Crypto Company

Bloomberg News reports:

In February 2019, Binance Holdings Ltd.’s then-Chief Compliance Officer Samuel Lim acknowledged that the cryptocurrency exchange was being used to funnel money to Hamas, explaining to a colleague that terrorists normally sent “small sums.”

That apparently nonchalant attitude caught up with Binance and its chief executive officer, Changpeng Zhao [photo], on Tuesday. In announcing $4.3 billion in fines against the company and a guilty plea by Zhao for failing to comply with anti-money-laundering laws.

In a press conference, US Attorney General Merrick Garland said Zhao “willfully violated federal law that requires financial institutions to guard against money laundering and terrorist financing.”

Read the full article.

US cites Binance’s knowledge it was being used to funnel money to Hamas in its $4.3 billion settlement with the crypto exchange https://t.co/A1ET85zl1x

— Bloomberg Crypto (@crypto) November 21, 2023