IMO: Altcoin will bleed against BTC until the summer. BTC dominance right now is 54%. Look at the all-time high for most altcoins since 2021; most, if not all, have not reached a new ATH.
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
OK, you're entitled to your opinion.
ONE of us gonna be right though. Good Luck
I didn't make 1.55 million in 2018 and 1.65 million in 2021 by being a dummy.
"When in Rome do as the Romans do"
- Saint Ambrose
FYI - Meme coins wiped people out cause THEY BUY AT THE TOP, not the bottom (incredible most aint figure that out yet) in fact, the WHOLE market does that as well. $SKID is at the bottom, this ain't rocket science dogz
Also, do you really understand crypto?, HOW THE FUCK is congress gonna "ban" ANYTHING crypto? lol I'll wait....
They "banned" XRP I was still able to buy it!?!?!?! The shit is out the horse at this point and $USDC is crypto, people can cash out $BTC, $ETH, $XRP or whatever to USD all the same you don't need $USDC
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Binance Founder Changpeng Zhao Should Spend Three Years in Prison, DOJ Says
The DOJ wants Zhao to serve 36 months after his guilty plea last year.
Binance's founder and former chief executive, Changpeng "CZ" Zhao, should spend three years in prison for his role in enabling the crypto exchange to violate federal sanctions and money laundering laws, the U.S. Department of Justice said Tuesday night. The former CEO's attorneys argued he should serve no jail time, citing the fine he paid and his "extraordinary acceptance of responsibility."
Attorneys with the DOJ filed a sentencing memo arguing he should spend 36 months in prison and pay a $50 million fine after he pleaded guilty to violating the Bank Secrecy Act last November. Hours later, Zhao's defense team filed its own sentencing memo, saying "no defendant in a remotely similar BSA case has ever been sentenced to incarceration." Instead, they suggested he be sentenced to probation, which could include home confinement at his home in Abu Dhabi.
"The sentence in this case will not just send a message to Zhao but also to the world. Zhao reaped vast rewards for his violation of U.S. law, and the price of that violation must be significant to effectively punish Zhao for his criminal acts and to deter others who are tempted to build fortunes and business empires by breaking U.S. law," the filing said.
Zhao originally faced up to 18 months in prison under the terms of his plea agreement. The DOJ argued in Tuesday's filing that "the scope and ramifications of Zhao's misconduct were massive," and so "an upward variance is appropriate here."
"In part because Zhao failed to implement an effective AML program at Binance, illicit actors used Binance’s exchange in various ways, including operating mixing services that hid the source and ownership of cryptocurrency; transacting in illicit proceeds from ransomware attacks; and moving proceeds of darknet market transactions, exchange hacks, and various internet-related scams," the filing said, pointing to fund movements from darknet markets and crypto mixers.
Much of the filing echoes arguments made by the DOJ when it first announced charges against Binance and Zhao last year, pointing to how the exchange operated within the U.S.
The filing also walks through the DOJ's sentencing guidelines calculations, noting that the guidelines recommend 12 to 18 months, but saying Zhao knew Binance was violating the law and encouraged it.
The filing also took aim at how the Sentencing Guidelines address Bank Secrecy Act violations, saying they "are not designed to adequately punish either misconduct on this scale or misconduct that harms U.S. national security."
The $50 million fine was already agreed to by both the prosecution and Zhao's defense team. Zhao also waived the right to appeal any sentence up to 18 months.
Defense pushes back
Zhao did not know and was never "explicitly informed" of specific transactions on Binance with criminal funds, his defense filing said.
"Although Probation references a conversation in which Binance’s chief compliance officer warned Mr. Zhao that there were users from sanctioned countries on Binance.com ... the reality is that Binance, as a non-U.S. company, was not prohibited from having users from U.S.-sanctioned countries on its platform," the filing said. By contrast, the sanctions charge to which the Company pleaded is a novel and narrow one (applied for the first time against Binance) that an algorithmic matching engine violates U.S. sanctions law by randomly pairing users in sanctioned countries with users in the United States."
Those transactions only made up a microscopically tiny portion of Binance's trading volume, the filing said, making it "inconceivable that Mr. Zhao acted knowingly and deliberately to bring them about."
Zhao also does not pose any risk of recidivism, the filing argued, saying that he should be sentenced to probation instead of prison.
Parts of the memo are redacted, though the sections immediately following the redacted portions reference Zhao's background and letters of support.
Zhao's supporters include Yi He, the mother of three of his children, his former wife Yang Weiqing, his two adult children with Yang, former U.S. Senator and current Binance lobbyist Max Baucus and a few dozen other individuals.
He was originally set to be sentenced in late February, but the hearing was postponed by mutual agreement to April 30. He hasn't been able to return to Dubai, where his partner and some of his children live, since he first appeared in federal court in Seattle, Washington last year.
Binance, the world's largest crypto exchange, pleaded guilty to charges of its own at the same time as Zhao, agreeing to a massive $4.3 billion fine and that it would report to a court-appointed monitor. The monitor has yet to be appointed.
Its insane how folks cant see THIS IS A WAR ON CRYPTO and CRYPTO holders, big banks got together,
and are using their legal whore slaves, like the SEC to slowly attempt to take down crypto....
by going after binance they just proved, THE NEED FOR MORE PRIVACY... expect more PRIVACY TOKENS
AND NETWORKS to come through as a result... but this shit hear,
is A FUCKIN CRIME.... and proof, ORGANIZED CRIMINALS are running the show... FREE MARKET IS A CROCK OF SHIT UNDER
CAPITALISM, its he who has the most money control market... The list of Crypto Ceo Millionaires that have been takin out
over the last five years is just nothing short OF A CRIME..... Especially what they did to the Bruh Arthur Hayes.....
just all levels of fucked up....
the fact that people think this attack on crypto is legit and organic,
shows how easily manipulated and lead most folks are... This is really a war on the masses, to keep us
from escaping the grip of their tentacles... aka escaping The matrix... All they did was create a whole new market... DeFi,
and wait till yall see whats coming in the HARDWARE world. I told yall years ago, there will be an invention,
where folks could trade crypto OFFLINE WIRELESSLY with each other.. yes OFF THE INTERNET..
I cant say too much now, but rest assure its coming.....BANKSTERS ARE DONE... STICK THE FORK IN THEM!!!
Lets just say.... beepers, with a lil more tech to it, will be making a come back!!!
in the next few years get ready for TRULY PRIVATE TRADING/SWAP....
i think i recall you mentioning that, part of why i have not made a move yet
so i need to do the phantom wallet deal and connect it to / get on raydium.io?
i will google /youtube raydium.io and set it up
so many wallets/ exchanges out there.
How 'Good Guy' Reputation Secured Binance's CZ a 4-Month Prison Sentence
Ex-Binance CEO Changpeng Zhao may be off to federal prison for financial crimes that led the cryptocurrency exchange he founded to agree to pay a $4.3 billion fine. But his reputation, at least in a Seattle courtroom on Tuesday, was never better.
The judge, CZ's defense lawyers and even prosecutors acknowledged during the 2 1/2 hour sentencing hearing that this 47-year-old billionaire was not your run-of-the-mill criminal defendant. Instead, he was a philanthropist, a do-gooder, a first-time lawbreaker and family man who turned himself in to accept whatever may come.
This unexpected resuscitation of the crypto kingpin's reputation factored into his fate: a tremendously light sentence of four months, far less than the three years prosecutors sought to punish – in their telling – this historically egregious violation of the Bank Secrecy Act (BSA).
U.S. Judge Richard Jones, 74, had none of it. "To be honest with you, sir, everything I see about your history and characteristics are of a mitigating nature," he said to Zhao near the start of his sentencing. He recalled going through a book of glowing sentencing letters that CZ's friends and family had submitted.
Not everything worked out for CZ in court. He's still due to spend four months in prison for failing to implement effective money-laundering controls as CEO of Binance, the world's largest crypto exchange. A source at the U.S. Department of Justice said he's the first CEO to go to prison under the BSA.
If the court proceedings were the model of the man, though, CZ will enter prison rejuvenated.
"Lots of really good people do bad things and violate the law," prosecutor Kevin Mosley told Judge Jones when asked if his team's sentencing recommendation factored in CZ's prolific global philanthropy efforts. CZ's lawyers later called out Mosley's unconvincing insistence that it had.
Judge Jones said he spent the weekend poring over the voluminous letters of support for CZ from friends and family until the book they were contained in literally fell apart. "I don't think I've ever seen a volume of letters" consistent in their characterization of a passionate if flawed defendant, the judge said.
CZ leaned forward in his seat throughout Judge Jones' sentencing remarks. He nodded every time the judge pointed out the former CEO's instances of wrongdoing. His body language telegraphed he anticipated the light sentence he got; it was almost like CZ knew what was coming when he flashed those four fingers months ago.
"You risked your entire net worth to make Binance a success," Judge Jones said at one point.
Naturally, the most sterling representations came from CZ's own legal team. They reminded the judge repeatedly that Zhao had been living in the United Arab Emirates, a country with no extradition treaty with the U.S. His massive fortune could have funded a lifestyle on the run, they said. But he cracked a dealwith prosecutors instead.
That, the support letters, his "extraordinary" cooperation with the government and a whistle-clean past ("No criminal history, no fraud, no other crimes," as defense lawyer William Burke put it) led Judge Jones to impose a light sentence, he said.
Still, CZ's hubris worked against him. "The mere fact that you can place your name next to the largest crypto operation on the planet does not give you discretion to pick and choose which regulations to follow," Jones said, adding that wealth and power did not free CZ from following the law.
The whole thing makes CZ's coming prison sentence likely to be more of a blip in his story than the end of his line. As the billionaire himself pointed out, he's spent the past few months working on a global online education initiative for children. He seems likely to return to that work on the other side. That could come perhaps even within the year.
DUMB AZZ FUQ....SHOULDA PULLED AN ARTHUR HAYES MOVE ON THEM ....HOW ARE YOU A BILLIONAIRE AND GOING TO JAIL FOR FOUR MONTHS......I would have the lawyers find a way to make sure i stay out the country until the statute of limitations is gone..just like these mofos from the ethereum foundation and there unregistered securities that got caught on video saying they were unregistered securities butthey were teaching them hw to hide their assets and cover this ish up.
Naw, the feds wanted to make an example out of Binance and CZ and they did. They would’ve sent agents after him, no matter where he lived.. Remember the kim dot com raid?
ok i've completed both steps. setup a phantom wallet and connected it to Radium.io
i don't see how to acquire SKID or anything else. I know i must purchase solana 1st.
am i missing something?
think i figured it out.
just needed to navigate the menus a bit.
i see SKID
You aint lying, why he aint do a fuckin Russel and head off to Asia is fuckin mind boggling, he was too addicted to the American
way...
the charges are retarded.. failure to implement anti money laundering features, so banks have anti money laundering features??
They have laws to use them on whom the choose, and to let fly whom they choose, the whole just us system needs a douche!!
Go to coin market cap and COPY the $SKID
address and paste it in raydium
That way you know you have the correct token.
yea its FLIPPING season... predict them ranges and you can make some sweet
summer cash bruh!!
banks are desperate and are going to be engaging in a LOT of fuckery.. in the next two years..
SO WATCH YO MONEY IN BANKS...WATCH THEM CREDIT CARD CHARGES!!
they schemin FO REAL OUT CHEA, they waning hard, as shit like Robinhood and CashApp
blow the fuck up!!! because they OFFER MORE than that stupid pathetic less than one percent rate
the banks offer, I mean how long did they think THAT shit was gonna fly bruH???
hard to touch a billionaire in a non extradition country with an army of body guards....i mean they can try ...but i wouldnt recommend it.
I was just going post this. You beat me by minutes...
He must be having the most f--ked up stressed day/week/year/ENTIRE LIFE right about now!
Stay safe out there, fam.
How did that work out for Saddam?CZ was living in Dubai, and they don’t have an expedition treaty with the US, but he still turned himself in. Let’s cut the BS. Unless CZ was being back by the Chinese government or the Russian government, he was going to be taking into custody one way or the other.
How do you owe the US government 50 million in taxes when you renounce your citizenship in 2014?
Roger Ver, a millionaire bitcoin investor from California who renounced his US citizenship in 2014.
US Justice Dept charges Roger Ver with tax fraud
investor Roger Ver, known by many as “Bitcoin Jesus.”In an April 30 notice, the Justice Department said authorities in Spain had arrested Ver based on criminal charges in the U.S., including mail fraud, tax evasion and filing false tax returns. The U.S. government alleged Ver defrauded the Internal Revenue Service (IRS) out of roughly $48 million with his failure to report capital gains on his sale of Bitcoin and other assets.
According to the indictment filed on Feb. 15 but unsealed on April 29, Ver allegedly took control of roughly 70,000 BTC in June 2017 — before the famous bull run — and sold many of them for $240 million. U.S. officials said they planned to extradite Ver from Spain to the United States to stand trial.
Reactions to Ver’s arrest on social media were mixed. However, Bitcoiner Dan Held, former growth lead at Kraken, claimed Ver “deserves everything that he’s about to get” after he “nearly destroyed Bitcoin.”
“Roger attacked my livelihood by trying to get me fired, called up others to hurt my relationships, and attacked my reputation,” said Held on X. “He misaligned expectations around Bitcoin so much that it led to a civil war.”
Ver was also a proponent of Bitcoin Cash. In 2022, he became embroiled in a scandal with crypto investment platform CoinFlex, which claimed he owed them $47 million in USD Coin USDC. He had not commented on social media regarding the Justice Department charges at the time of publication.
US Justice Dept charges Roger Ver with tax fraud
Early crypto investor ‘Bitcoin Jesus’ faces extradition to the U.S. after being charged with evading nearly $50 million in taxes.
cointelegraph.com
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Stories like this will be magnified in 2025-2030 when the millionaires of the 2021 crypto bull run start to get locked up left right and center for tax evasion even if they renounce their citizenship. All those 80,000 irs tax agents the fed hired is (just for this purpose) so they can claw back all that money with interest, it's going to set the tone for the 2028-2029 WORLD ADOPTION bullrun!How did that work out for Saddam?CZ was living in Dubai, and they don’t have an expedition treaty with the US, but he still turned himself in. Let’s cut the BS. Unless CZ was being back by the Chinese government or the Russian government, he was going to be taking into custody one way or the other.
How do you owe the US government 50 million in taxes when you renounce your citizenship in 2014?
Roger Ver, a millionaire bitcoin investor from California who renounced his US citizenship in 2014.
US Justice Dept charges Roger Ver with tax fraud
investor Roger Ver, known by many as “Bitcoin Jesus.”
In an April 30 notice, the Justice Department said authorities in Spain had arrested Ver based on criminal charges in the U.S., including mail fraud, tax evasion and filing false tax returns. The U.S. government alleged Ver defrauded the Internal Revenue Service (IRS) out of roughly $48 million with his failure to report capital gains on his sale of Bitcoin and other assets.
According to the indictment filed on Feb. 15 but unsealed on April 29, Ver allegedly took control of roughly 70,000 BTC in June 2017 — before the famous bull run — and sold many of them for $240 million. U.S. officials said they planned to extradite Ver from Spain to the United States to stand trial.
Reactions to Ver’s arrest on social media were mixed. However, Bitcoiner Dan Held, former growth lead at Kraken, claimed Ver “deserves everything that he’s about to get” after he “nearly destroyed Bitcoin.”
“Roger attacked my livelihood by trying to get me fired, called up others to hurt my relationships, and attacked my reputation,” said Held on X. “He misaligned expectations around Bitcoin so much that it led to a civil war.”
Source: Roger Ver
Ver was also a proponent of Bitcoin Cash. In 2022, he became embroiled in a scandal with crypto investment platform CoinFlex, which claimed he owed them $47 million in USD Coin USDC. He had not commented on social media regarding the Justice Department charges at the time of publication.
US Justice Dept charges Roger Ver with tax fraud
Early crypto investor ‘Bitcoin Jesus’ faces extradition to the U.S. after being charged with evading nearly $50 million in taxes.
And since every transaction is on the blockchain and a CBDC will come into effect there's basically no running to any part of the globe. unless someone makes a ghost wallet.............................................or have they!?!
Lol bruh wait till the offline hardware wifi wallets
Where you can trade swap etc without the internet.
Yea we ain't seen nothing yet..their tentacles are getting cut from our pockets
One by one..
They could be touched if they want him bad enough ask do kwin.
Motherfuckers probably killed themselves
I dont KNOW what that muthafucka was thinkin,
I always confirm the first and last four characters match the send field and destination address....
yea this muthafucka was on drugs, he was tweakin fo real...
"How do you owe the US government 50 million in taxes when you renounce your citizenship in 2014? "
the IRS re-wrote the tax rules around 2005 - 2010 because so many people were leaving America to become citizens of other countries .
The new rule is you OWE the next 10 YEARS OF TAXES ,after you leave the country and give up your citizenship
the IRS re-wrote the tax rules around 2005 - 2010 because so many people were leaving America to become citizens of other countries .
The new rule is you OWE the next 10 YEARS OF TAXES ,after you leave the country and give up your citizenship
UNHOLY SHIT....TIS CANT BE REAL....NEVER HEARD OF THIS RULE. THE NEXT 10 YEARS OF TAXES.....IF THAT AINT SLAVERY...I DONT KNOW WHAT IS..... is this real or did you make this shit up.
It's been a long time . It seems you can get out of some of it if you stay within certain guidelines
Forbes
Money
Taxes
Editors' Pick
Senior Contributor
I focus on taxes and litigation.
Jul 6, 2022,
Reports say there’s been a big uptick in interest in leaving America with the overruling of Roe v. Wade, gun violence, political turmoil and more. One popular post on Forbes advises how to move out of the US and the best places to escape. There are numerous choices, including moving to Canada.
But if you go, is it temporary or permanent? Either way, most people probably assume that it won’t impact their citizenship. After all, there’s no reason that moving—moving anywhere—changes that. Yet it is surprising how many people get confused about U.S. taxes, and think that leaving the U.S. to live abroad means no longer paying taxes here—especially if you are paying taxes somewhere else. However, the mere fact that you live abroad—even forever—does not mean that you ever avoid U.S. taxes or the annual slog to file IRS returns. You might be paying tax in two places, to the IRS and to your new country of residence. In fact, if you want to stop paying U.S. tax, you have to go a step further. It’s a step that is not unheard of. Official U.S. Treasury Department records show that 2020 set a record for the number of Americans who renounced their U.S. citizenship or gave up their long-term green cards. Common reasons for renouncing can be family, tax and legal complications for people who generally live outside the United States.
Getty Images
There is an official list published quarterly, and the names for the fourth quarter 2020 made the annual total 6,707, a 237% increase from 2019. That may not sound like many, but the actual number of expatriates is often assumed to be higher, with many apparently not counted. Both the IRS and FBI track Americans who renounce. Some renouncers write why they gave up their U.S. citizenship, but tax considerations are often part of the equation. Expats have long clamored for tax relief. Adding fuel to the fire is FATCA, the Foreign Account Tax Compliance Act. This U.S. tax law was passed in 2010 and requires an annual Form 8938 filed with the IRS if your foreign assets meet a threshold.
FATCA spans the globe with an unparalleled network of reporting, requiring foreign banks and governments to hand over bank data about depositors. Non-U.S. banks and financial institutions around the world must reveal American account details or risk big penalties. Some renounce because of global tax reporting and FATCA. Dual citizenship is not always possible, as this infographic shows. America’s global income tax compliance and disclosure laws can be a burden, especially for U.S. persons living abroad. Americans living and working abroad must generally report and pay tax where they live. But they must also continue to file taxes in the U.S., where reporting is based on their worldwide income. A foreign tax credit often does not eliminate double taxes.
Then there are annual foreign bank account reports called FBARs. They carry big civil and even potential criminal penalties. The civil penalties can consume the entire balance of an account. Ironically, even leaving America can be costly. To exit, you must prove 5 years of IRS tax compliance, and getting into IRS compliance can be expensive and worrisome. If you have a net worth greater than $2 million, or have average annual net income tax for the 5 previous years of $171,000 or more, you can pay an exit tax. It is a capital gain tax, calculated as if you sold your property when you left. A long-term resident giving up a Green Card can be required to pay the exit tax too. Sometimes, planning, gifts, separate tax returns for married persons, and valuations can reduce or eliminate the tax.
Forbes
Money
Taxes
Editors' Pick
Leave U.S., Pay IRS Taxes Forever
Robert W. WoodSenior Contributor
I focus on taxes and litigation.
Jul 6, 2022,
Reports say there’s been a big uptick in interest in leaving America with the overruling of Roe v. Wade, gun violence, political turmoil and more. One popular post on Forbes advises how to move out of the US and the best places to escape. There are numerous choices, including moving to Canada.
But if you go, is it temporary or permanent? Either way, most people probably assume that it won’t impact their citizenship. After all, there’s no reason that moving—moving anywhere—changes that. Yet it is surprising how many people get confused about U.S. taxes, and think that leaving the U.S. to live abroad means no longer paying taxes here—especially if you are paying taxes somewhere else. However, the mere fact that you live abroad—even forever—does not mean that you ever avoid U.S. taxes or the annual slog to file IRS returns. You might be paying tax in two places, to the IRS and to your new country of residence. In fact, if you want to stop paying U.S. tax, you have to go a step further. It’s a step that is not unheard of. Official U.S. Treasury Department records show that 2020 set a record for the number of Americans who renounced their U.S. citizenship or gave up their long-term green cards. Common reasons for renouncing can be family, tax and legal complications for people who generally live outside the United States.
Getty Images
There is an official list published quarterly, and the names for the fourth quarter 2020 made the annual total 6,707, a 237% increase from 2019. That may not sound like many, but the actual number of expatriates is often assumed to be higher, with many apparently not counted. Both the IRS and FBI track Americans who renounce. Some renouncers write why they gave up their U.S. citizenship, but tax considerations are often part of the equation. Expats have long clamored for tax relief. Adding fuel to the fire is FATCA, the Foreign Account Tax Compliance Act. This U.S. tax law was passed in 2010 and requires an annual Form 8938 filed with the IRS if your foreign assets meet a threshold.
FATCA spans the globe with an unparalleled network of reporting, requiring foreign banks and governments to hand over bank data about depositors. Non-U.S. banks and financial institutions around the world must reveal American account details or risk big penalties. Some renounce because of global tax reporting and FATCA. Dual citizenship is not always possible, as this infographic shows. America’s global income tax compliance and disclosure laws can be a burden, especially for U.S. persons living abroad. Americans living and working abroad must generally report and pay tax where they live. But they must also continue to file taxes in the U.S., where reporting is based on their worldwide income. A foreign tax credit often does not eliminate double taxes.
Then there are annual foreign bank account reports called FBARs. They carry big civil and even potential criminal penalties. The civil penalties can consume the entire balance of an account. Ironically, even leaving America can be costly. To exit, you must prove 5 years of IRS tax compliance, and getting into IRS compliance can be expensive and worrisome. If you have a net worth greater than $2 million, or have average annual net income tax for the 5 previous years of $171,000 or more, you can pay an exit tax. It is a capital gain tax, calculated as if you sold your property when you left. A long-term resident giving up a Green Card can be required to pay the exit tax too. Sometimes, planning, gifts, separate tax returns for married persons, and valuations can reduce or eliminate the tax.
I missed this tip, looking into it now.
In your opinion, is it too late? Not trying to chase.... thanks
850 credit post was from 2021. I honestly don’t know I’m not into meme coins. I’m patiently waiting for Aethir to drop this month.
Cool...(2021, explains why I missed it.) Thanks Bruh
I laughed at this.
there is actually a trump coin out there (or one somebody named after him). That shit went up 83% a few days ago.