<story><title>SEC Accuses Binance of Mishandling Funds and Lying to Regulators</title><url>https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html</url></story><parent_chain></parent_chain><comment><author>methodical</author><text>Every time a crypto article is posted there are one of two people in the comments; those acknowledging yet another failure in a continuous display of cryptocurrency&amp;#x27;s blatant inability to be a valid currency, and those who mindlessly still think there&amp;#x27;s any hope for cryptocurrency to be a global currency.&lt;p&gt;Those who say that CEXs aren&amp;#x27;t part of the core values of cryptocurrency are right, except also completely ignorant to the fact that without CEXs, crypto&amp;#x27;s usability as a currency is practically 0.&lt;p&gt;CEXs have failed, hardware wallets have failed, soft wallets have failed, seed phrases are fundamentally problematic, etc.&lt;p&gt;Cryptocurrency won&amp;#x27;t ever be functional on a large-scale as a global currency, and that much is evident. It&amp;#x27;s not even a matter of opinion; the core idea of decentralization which &amp;quot;makes crypto great&amp;quot; makes it unusable as a currency for the vast majority of people- who would need to rely on some centralized authority in order for crypto to operate within the real world.&lt;p&gt;Anybody left in the space must just be hanging onto greater fool theory, that or has drank the kool-aid.</text></comment>
<story><title>SEC Accuses Binance of Mishandling Funds and Lying to Regulators</title><url>https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html</url></story><parent_chain></parent_chain><comment><author>gadnuk</author><text>&amp;gt; In one instance, the Binance chief compliance officer messaged a colleague that, “[w]e are operating as a fking unlicensed securities exchange in the USA bro.”&lt;p&gt;Source: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;JohnReedStark&amp;#x2F;status&amp;#x2F;1665748594421297152&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;JohnReedStark&amp;#x2F;status&amp;#x2F;1665748594421297152&lt;/a&gt;&lt;p&gt;Is there any player in this space that plays by the rules? CZ going the way of SBF. Tether next?</text></comment>