Connect with us
European Gaming Congress 2024

Blockchain

Binance Pushes Back Against Accusations of Freezing Palestinian Accounts: Report

Published

on

binance-pushes-back-against-accusations-of-freezing-palestinian-accounts:-report

Binance CEO Richard Teng has firmly denied recent allegations that the crypto exchange froze all Palestinian accounts at the behest of Israeli authorities, as reported by Coindesk. Teng labeled these accusations as “FUD” (fear, uncertainty, and doubt), clarifying that Binance’s actions were limited to blocking accounts associated with illicit activities.

Context of the Allegations

The controversy stems from a social media post by Ray Youssef, CEO of NoOnes, who claimed that Binance had seized funds from all Palestinian users. Youssef supported his claim with a letter from Israel’s National Bureau for Counter-Terror Financing. The letter, dated November 2023, upheld a seizure order involving funds from the Dubai Exchange Company in Gaza, which Israel has classified as a terror organization. However, the letter did not specify which accounts were affected.

The broader context includes ongoing geopolitical tensions and the involvement of cryptocurrencies by various entities, including terrorist organizations. Since 2021, the Israeli government has reported the seizure of 190 Binance accounts linked to terrorism. Additionally, U.S. sanctions have targeted businesses providing financial services to Hamas, further complicating the situation. Globally, regulators are increasingly focusing on the use of cryptocurrencies in terror financing, with Singapore noting a rise in such activities despite traditional methods still being predominant.

Advertisement

Clarification on Account Freezes

In response to Youssef’s claims, Teng clarified that only a small number of accounts, specifically those linked to suspicious activities, were restricted. He emphasized that Binance, like other financial institutions, must comply with global anti-money laundering regulations, which require actions against accounts involved in illicit financial activities. Teng stressed that these actions are standard compliance measures and do not represent a blanket freeze on all Palestinian accounts.

Binance’s Broader Operations

Amid these allegations, Binance is also making strategic moves in other areas. The company recently announced that it is finalizing the sale of its majority stake in the South Korean crypto exchange Gopax to the cloud service provider Megazone. This decision is critical for Gopax, one of South Korea’s top five won exchanges, as it faces potential delisting if governance issues are not resolved.

These developments highlight the challenges and responsibilities faced by global cryptocurrency exchanges like Binance as they navigate complex regulatory landscapes and geopolitical pressures.

Advertisement

Source: financemagnates.com

The post Binance Pushes Back Against Accusations of Freezing Palestinian Accounts: Report appeared first on HIPTHER Alerts.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Blockchain

Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision

Published

on

everdome-and-alpine-web3-redefine-fan-engagement-with-bold-metaverse-vision

Alpine Web3 and Everdome are joining forces to push the boundaries of fan engagement through immersive digital experiences. Building on Alpine’s storied motorsport legacy, this partnership will bring fans closer to the action with metaverse pop-up spaces and interactive events.

As Alpine Web3 shifts its focus beyond motorsport, this collaboration aims to redefine sports marketing by merging the physical and digital worlds, offering fans a dynamic and innovative way to connect with their favorite teams and events.

Alpine is a brand with a long and successful history, founded in 1955 by Jean Rédélé and quickly building success across multiple motorsports disciplines. With titles across multiple motor racing disciplines such as the World Rally Championship, 24 Hours of Le Mans, success in F1® racing and the FIA WEC Endurance World Championship, Alpine has constantly innovated for success.

Now Alpine seeks to expand their innovation beyond motorsport, looking for ways to engage new audiences with experiential sports marketing as the real and digital worlds converge.

Advertisement

This two-way partnership will see Everdome work on a variety of experiential Alpine focussed destinations, kicking off with a series of metaverse pop-up spaces for Alpine Web3, released to coincide with the major sporting events across their race calendar, from Formula One® and beyond.

Everdome will also create interactive events with Alpine Web3 and their partners, allowing global audiences to take one step closer to the action as we explore the future of sports fan engagement together.

Last year, Everdome and Alpine first collaborated with an exclusive metaverse AMA with their F1® driver Pierre Gasly and Binance Fan Token, creating an interactive event where the audience could join with their avatar-likenesses inside a unique environment, bringing them closer to their racing heroes inside a digital world.

“Experiential marketing is on the rise as audiences react positively to immersive, interactive experiences which bring a feeling of deeper involvement with their sporting teams and heroes.’’ said Artur Kaczmarczyk, Chief Growth Officer for Everdome. “This new partnership will explore a future of sports fan engagement, creating a series of activations across the motorsports racing calendar to let global Alpine fans feel closer to the team, drivers and brand.’’

Beginning with metaverse spaces highlighting images and videos from Alpine inside fully interactive, avatar-led digital environments, Everdome will go on to create a dedicated and permanent metaverse footprint for Alpine Racing inside their digital headquarters, showcasing their glorious history, exciting present and promising future.

Advertisement

“This collaboration with Everdome underlines our commitment to constant innovation through leveraging the latest technology”, said Guillaume Vergnas, Head of Merchandising, Licensing, Esports & Web3 at Alpine. ‘’Motorsport has always been about passion, spectacle and interaction, and with Everdome we seek to allow audiences a taste of the spectacle in a novel digital world.’’

Everdome will introduce their large community of web3 followers and metaverse pioneers to Alpine’s exciting web3 ecosystem, paving the way for some exciting cross-project collaborations, activations and more across 2024 and beyond.

The post Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

Blockchain Technology Market Size to Achieve USD 1,879.30 Billion by 2034

Published

on

blockchain-technology-market-size-to-achieve-usd-1,879.30-billion-by-2034
Continue Reading

Blockchain

Blockchain Technology in BFSI Market Is Expected To Reach a Revenue Of USD 258.2 Bn By 2033, at 46.0% CAGR: Dimension Market Research

Published

on

blockchain-technology-in-bfsi-market-is-expected-to-reach-a-revenue-of-usd-2582-bn-by-2033,-at-46.0%-cagr:-dimension-market-research
Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE