Richard

Force

<ul>
 <li>Binance is under fire for freezing Palestinian crypto accounts following orders from the IDF.</li>
 <li>The controversy highlights the ongoing tension between cryptocurrency centralization.</li>
</ul>
Binance blocked Palestinian crypto funds. The <a href="https://thenewscrypto.com/nigerian-court-advances-binance-money-laundering-case-to-september/" target="_blank" rel="noopener noreferrer nofollow">exchange</a> seized cryptocurrency from Palestinians as per the request of the Israel Defence Force (IDF). They refused to return the funds and all the appeals have been denied. Moreover, the assets are frozen and seized.&nbsp;
Also, #BoycottBinance is currently trending on Twitter. In addition to this, People are showing different reactions to this incident, especially the Palestinian supporters. They are saying that Binance is standing with Genocide.&nbsp;
Following this, Yi He, Binance Co-Founder &amp; Chief Customer Service Officer <a href="https://x.com/heyibinance" target="_blank" rel="noopener noreferrer nofollow">replied</a> to an X user saying that the exchange only blocked a limited number of Palestinian crypto accounts that were linked to Illicit funds.&nbsp;
Binance CEO Richard Teng, who recently <a href="https://thenewscrypto.com/binance-ex-ceo-changpeng-zhao-relocated-to-new-facility/" target="_blank" rel="noopener noreferrer nofollow">replaced</a> the ex-CEO Changpeng Zhao, posted a <a href="https://x.com/_RichardTeng/status/1828688000894787800" target="_blank" rel="noopener noreferrer nofollow">statement</a> in X saying that,
“As a global crypto exchange, we comply with internationally accepted anti-money laundering legislation, just like any other financial institution. We will continue to educate users on how to safely and securely transact on our platform.”
Furthermore, he says that it is believed that Israel is putting massive pressure on Binance and all other exchanges to blanket seize the funds of all Palestinians.
Highlighted Crypto News Today: <a href="https://thenewscrypto.com/solana-price-sees-bearish-takeover-after-hitting-160-levels/" target="_blank" rel="noopener noreferrer nofollow">Solana Price Sees Bearish Takeover After Hitting $160 Levels</a>

Binance Faces Backlash for Seizing Palestinian Crypto Funds Amid IDF Orders

TheNewsCrypto

Other articles published on Aug 28, 2024

SEC Issues A Wells Notice To OpenSea, Claiming NFTs On Its Platform Are Securities

Bitcoin ETFs Bleed: ARKB Leads With $101.97Million Outflow

SUNDOG’s Performance Rivals PEPE Within 10 Days of Launch — SunPump Redefines Meme Gameplay

Cryptocurrency Market Turmoil: Bitcoin and Ethereum Lead the Key Factors Behind the Recent Price ...

Gamathon 2024: Africacomicade convenes stakeholders for 6 days of networking, collaboration, and ...

Magic Eden Announces Official Ecosystem Token, ME

Join our free newsletter for daily crypto updates!