It was nice of the pink financial paper to confirm on their front page, what I told you months ago about a scammy crypto exchange and how it was being artificially supported by this very large foreign government until all the players could get out with their riches secure.

Now, it will collapse just like the rest of them.

Get your money out now.

Financial Times
In 1893, The Financial Times, a prominent London newspaper, decided to start printing its articles on light salmon-pink paper. The pink background was meant to distinguish the paper from the Financial and Mining News. Plus, it was also marginally cheaper to print on unbleached, slightly pink paper at the time.

Binance

China

Binance hid links to China

One of the world’s biggest online retailers is splitting itself up into six smaller companies. The world’s biggest crypto exchange says it’s got nothing to do with China anymore, but our reporter finds otherwise. And Switzerland’s biggest bank, UBS, is calling in a new CEO as it prepares to digest Credit Suisse. I’m Marc Filippino, and here’s the news you need to start your day.

Marc Filippino
I’m doing well. So Binance claims to have left China in 2017, but you found plenty of evidence of operations there well after that time. It turns out they hid their links to China. Why is this important?

Scott Chipolina
There’s a couple of reasons. First is because it reveals an inconsistency from the public statements made by Binance’s senior executives that they left China. They said that they did that after the Chinese government clamped down on the crypto industry in September 2017. Another reason why it’s particularly important today is the United States and China are obviously in the midst of a significant, you know, economic rivalry, let’s call it, for want of a better phrase. And one of the things that is central to that with regard to Binance is its US affiliate, called Binance US, is currently trying to convince American regulators to greenlight the purchase, a proposed $1bn purchase of assets belonging to an American company that went bankrupt last year. And to the extent that the US government wants to control or exert influence over the crypto industry and in essence protect its economy from Chinese influence, links to China as a country from a company that has attempted to hide those links, I think, is quite interesting. – Source

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