$4.3B Binance Settlement To Be Sent To Ukraine/Israel, Payout In Tether
The United States Department of Justice has come to a settlement agreement with popular shitcoin casino, Binance. Part of the agreement includes a $4.3B settlement for breaking US AML laws, as well as selling unregistered securities. The other part of the agreement is for founder, Chanpeng "CZ" Zhao to plea to breaking AML laws as well as step down from managing the company.
Reports from individuals familiar with the situation say that the US government will be receiving USDT from Binance, in order to rapidly deploy the funds back to support Ukraine and Israel. The funds will be divided across multiple US defense companies such as Raytheon, but will also go directly to members of government. Zelensky is reported to be receiving $1m in stable coins to his wife's wallet.
This marks the first time the US government has openly received payment in stablecoin for a settlement and is very unorthodox. The US DOJ has been critical of Tether for a long time, and them receiving it almost seems like an endorsement. The DOJ released the reason they are receiving the payment in USDT is because Binance reportedly has quite a bit of liquidity in that and it allows the US government to send the money towards funding wars quicker.
It appears that the US government is showing how complicated and slow the US banking system is. It appears to be more of a move of desperation than one strength.
