Binance Fined $4.3 Billion, CEO Pleads GUILTY

Changpeng Zhao, the CEO of Binance stepped down and pled guilty to anti-money laundering violations. BINANCE will pay $4.3 billion in fines according to the DOJ settlement.
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it the "opportunity of a lifetime."

[@slavsquatsuperstar]

Being a multi-billionaire and still getting called stupid by your mom is a certified Asian moment

[@MashaRistova]

Billionaire in fake money and being a thief.

[@07kamichamakarin]

There is no wall an Asian mom cannot climb when she is angry with her children's behavior, I attest that as an Asian daughter.

[@michaelpeters78]

@@MashaRistova how is it fake money if it has value? he's a billionaire in real money if he sells all his crypto. also how is he a thief?

[@golDroger88]

@@MashaRistovaFiat money is also fake.

[@tenaar]

​@@michaelpeters78I'd be a millionaire if I sold all my stuff too.

[@Trademark56]

"He made over $60 billion, but his mom still called him stupid!" Well, I think his mom is feeling pretty vindicated right now.

[@crossbolt27salt88]

Dude I was screaming when I saw that nas daily clip

[@crazyprayingmantis5596]

He made 60 billion and got fined 50 million. Just like banks these fines are just part of their operating costs now.

[@PaTrick-cf6ev]

I bet slippers were flying too😂

[@nerd55120]

​@@PaTrick-cf6evHahaha. Ethnic mom's weapon of choice

[@AlSanBuen]

Asians

[@sunnyd1722]

I hate it when the CEO of a company doing illegal, evil shit gets away with saying “we made mistakes :( we’re sorry”

[@PoorEdward]

We’re sorry. :) We’re sorry…

[@sebastienlebatteux185]

Southpark 😂​@@PoorEdward

[@sunnyd1722]

Yeah. Did you think I would hate the crypto scammers but be fine with how corporations and Wallstreet is run?

[@RTU130]

Yea

[@zhg4685]

while the US GOV Even disavow ...

[@DrJRMCFC]

"it's not FUD, it's basic due diligence". Absolutely spot on.

[@user-xc8nb9yn1i]

Anyone who mentions "FUD" is a scammer lmao

[@D3m3nt0]

I have to admit that I admire the brazen admission of laundering drug money.

[@grizzlywhisker]

Same here.

[@MorePowerfulThanMe]

HSBC style baby, cant go wrong

[@sznikers]

Yeah HSBC all the way 😂

[@i6power30]

How is it compared to ftx? Laundering drug money and steals user fund . At least binance doesn't steal user deposit

[@Rapido20]

this is a tiny slap on the wrist he’s free won’t go to jail and gets to keep billions he has stolen

[@kentslocum]

When a multi-billionaire admits they made mistakes, you can be sure they did some really bad things that they're trying to sweep under the rug. CEOs of companies never admit wrongdoing except when there are bigger things they're trying to hide.

[@davidpinto7542]

Its beyond me how someone will give 1 dollar to a company that refuses to be audited.

[@MANIAKAEMAN]

Wait till you hear about how all of crypto is propped up by an unaudited USDT

[@antimatter3084]

​@@MANIAKAEMANNot surprising considering cryptocurrency are just techbro funbucks with a ponzi scheme mechanism built in.

[@dkn1055]

@davidpinto7542 You mean basically 99% of crypto? lmfao

[@chris0000924]

Wait until you hear about American banking system lmao Audit the Federal reserve tok while you're at it they PRINT the dollars in your pocket

[@theGT5]

still the most reliable cex so what is your arguement lol, acting like the mainstream financial system wasn't built on crimes is a joke

[@elbruces]

Literally the whole point of crypto & blockchain technology was to remove having to trust people from the equation. It's so bizarre that all these "trust me" companies immediately sprouted up.

[@fix0the0spade]

The real reason was to let organised crime launder huge quantities of money untraceably. Everything else is fluff.

[@JJ-qo7th]

Well, yeah, someone has to hype up the monopoly money so people will buy in.

[@nsbdbsbsbdbzbz8555]

Thats what you think the point was. The point was to: Laundee money Unregulated market(scam) Youre not very smart

[@Pastymeathead]

I think people just assume that these companies are too big not to have internal audits, regulations, etc. You figure a company like Binance would have whistleblowers left and right exposing the illegal activity behind the scenes

[@funkemunky]

@@nsbdbsbsbdbzbz8555nope. The original point was to remove financial manipulation*. Problem is that if didn’t work out in practice

[@sagramore1]

At this point being labeled as the "Most humble crypto billionaire" is a huge red flag.

[@devious9113]

At this point, anyone who shows up in that guy's videos is a huge red flag.

[@peger]

And if you get labeled as a one, is the sign that you need to buy one way ticket to Dubai asap xD

[@nintendoconvert4045]

I think “crypto billionaire” is about as real as Bigfoot.

[@themudpit621]

I just officially became sick of the term 'red flag'. It was you. You were the straw.

[@january3rd293]

The fact that it's the same influencer person too, oof.

[@TTLOSF]

The amount of scams that immediately rose and fell thru crypto is amazing

[@HDReMaster]

there are more scams in traditional finance

[@lnsflare1]

While simultaneously being completely unsurprising.

[@HDReMaster]

blockchain means scams are public information and will be found out no matter what

[@bolsa3136]

Signs of a bubble..

[@bolsa3136]

I thought that the selling point of it was the anonimous part...

[@taranullius9221]

"I must take responsibility"* *when caught.

[@happykill123]

Unless people are inprisoned, it's not treated as a real crime.

[@user-dv1hp5fp2x]

This is just a distraction Wonder how the mill is laundering our tax dollars across the globe

[@themudpit621]

You mean fines just impose a tax on crime? yeah, maybe...

[@PointsofData]

​@@themudpit621 If Binance didn't have enough to pay back creditors, then they don't have enough to pay $4.3 billion in fines. It's hardly a tax.

[@DunningofKruger]

The refusal to accept auditors probably has a lot to do with the fact they're working with dirty money and an Auditor would be obligated to call the police.

[@slax4884]

HSBC worked with cartels. Banks launder money all the time

[@ceraz052]

Hmm maybe

[@katrinabryce]

In the UK, even if you are approached by the police to do a forensic audit of a suspected drug dealer, you still have to report it. Even the fact that the police already know about it and are investigating doesn't get you off having to report.

[@poxon4515]

Didn’t the most of the main auditor firms say they would not audit crypto company’s.. pretty confident Deloitte did

[@BA-gn3qb]

Arthur Andersen: Hold my Enron

[@ixlndvsxtc]

CZ was holding up 4 fingers because that was the fine in billions he would be paying.

[@2sexyy]

lmao

[@golDroger88]

>how many billions do you want to pay in fine? CZ:

[@DJIronChef]

lmao same though he predicted his fate

[@guth5060]

forsen @@2sexyy

[@EmyN]

LOL 😂 the irony

[@laurelmarshall6903]

Thanks Coffeezilla! Excellent video.

[@traceyhilder6640]

Super slooth & coffee just love you exposing these grifters

[@WarrenPuffet]

“We’ll have our lawyers handle it” not a sign of confidence.

[@ARUchannel1]

facts speak louder than companies' words

[@nolongerblocked6210]

He essentially said they don't have the money

[@matohibiki]

It is in fact saying "I don't wanna implicate myself further in whatever lawsuits and criminal cases that're going on."

[@jeffreyrudolph5061]

To be fair , that was a hypothetical question regarding Sam's escapades.

[@kjbkix]

especially when its a question of finances. "Let the CFO handle it" maybe if you wanna throw them under the bus

[@musicjunkie274]

“An audit doesn’t find every problem” So I guess that means nobody should be audited anymore 🤷‍♀️

[@TKUltra971]

"Yep Yep"

[@MySteamChannel]

Just like the department of defense.

[@w1mark275]

Oh i wont find every problem? Well you could make your own investigation alongside the audit then... The differences in results I bet would be quite surprising!

[@charlesm.2604]

"an auditor would realize we don't have the assets to back up all customer refunds but what he won't realize is that the assets we currently have are completely worthless anyway because we used customer funds as our personal piggybank"

[@matohibiki]

"So you're saying we should bring law enforcement into the equation, to find the really bad problems?"

[@jodikubacki5415]

Love your hard work

[@TamimGaming-kz3jj]

Walmart and Cardven token just signed a collaboration??

[@MooNwALKER....]

Scam alert ⚠️ 📢

[@pyd2215]

Big 4 audit companies have also been complicit in a LOT of shady dealings

[@MuiKaHo]

yeah but there will be receipts, which is what is important.

[@colin-nekritz]

Yep it’s like the SEC who not only was in Bernie Madoff’s pocket, he was on their board, all while knowingly wiping out tens of thousands of people’s life savings.

[@hydromic2518]

Yeah, KPMG facilitated the Guptas tax evasion and has been involved in nearly every corruption case in South Africa

[@Coffeezilla]

Absolutely true. But not wanting to deal with auditors isn’t a dunk either.

[@User-fq9lk]

@@Coffeezilla facts

[@tarekyared4404]

When CZ says auditors "don't know how to audit crypto exchanges", what he means is that auditors don't accept digital monopoly being valued at face value on paper when they know the coin would be virtually worthless when actually being sold in meaningful volume. His arrogant position is EXACTLY the same type of asinine argument SBF made with FTX.

[@wrongplacerighttime]

lol cz is not sbf. not even close.

[@funkemunky]

@@wrongplacerighttimestill pretty shady

[@Vojou345]

@@wrongplacerighttimeRead the comment over again, then take a hour to really let it sink in. Once you figure it out, edit your comment as it has nothing to do with what OP said.

[@Kalulosu]

They "don't know how to audit crypto exchanges" because they don't produce the results he'd want to see from the audit lol

[@rightwingsafetysquad9872]

The exact same reasoning applies to conventional financial institutions. All banks are structurally insolvent.

[@vozac4470]

With an auditor background - always enjoyed your content Coffee!

[@HawwkBigity]

Also ☕ thanks brotha... You are one of a kind.. happy 🦃 day to you and family, eat up you got more to expose

[@Jessica-ub9oh]

I don't think we're focusing enough on the implication of what they did, if they openly admitted to laundering drug money imagine what else happened behind the scenes. Might've facilitated some truly heinous things

[@tomlxyz]

Like allowing funding terrorists?

[@111dcormack]

Half way across the world .

[@leighz1962]

Happens everywhere but China was the big financial magnet. Investment flight probably has a few more stones to turn.

[@hitzoneproductions7858]

Like organs, humans trafficking, etc?

[@walktheworld]

Major banks launder drug cartel money.

[@silmarian]

I love how skeptical the reporter looked when he started being evasive. She knew he was talking bs.

[@goldenhate6649]

Because she is trained to do the same.

[@pasta-and-heroin]

@@goldenhate6649… what? 😂

[@JavierNYC423]

@@pasta-and-heroinyou can’t be this dense can you ?

[@EmyN]

Those interviewers were not impressed lol

[@harrietxo2310]

@@JavierNYC423maybe they are that obtuse

[@YogisGarage]

Love it! Go get 'em.

[@xNaxdy]

you know, it baffles my mind how a crypto exchange like Binance gets fined such a hefty sum when they do something wrong, but when any of the big tech companies who routinely and purposefully commit multiple international privacy violations get fined, it's literally pennies clearly, as shown in this case, the government is capable of issuing meaningful fines. so why hold back in the other cases?

[@ToastyAlpha]

Uhhh cus one is privacy and the other is Privacy + money laundering, plus fraud, plus cooking the books lol wtf do u think Enron did

[@titan8084]

Probably cus the companies that do have the cyber crime thing have large countries behind them.

[@jaredclark173]

apple is vital to the us economy. crypto exchanges are not

[@mankybrains]

@@jaredclark173 Not vital per se, but it is providing way more jobs to the US market and others around the world while Binance doesn't.

[@jaredclark173]

@@dontaskquestions. i’m sorry i should have explained. large companies are vital to the us economy. they provide jobs and services that the american public can work or utilize. i wasn’t saying that apple alone is vital to the us economy. i was using apple as an example of a large company that is vital to the us economy. i won’t be providing sources because this is just the fuckin youtube comment section so you can calm down

[@aj00]

It’s actually insane how much larger Binance is compared to like the next 3 biggest exchanges

[@zoomer9686]

if u believe the numbers 🧠

[@handler8838]

@@zoomer9686 considering other exchanges some times dip into Binance to use their liquidity... yeah they have a huge marketshare

[@iguerof4159]

​@@zoomer9686it's a fact

[@michelchamoun9967]

Its because the second largest misteriously dissapeared.

[@Pooki2024]

@@michelchamoun9967mysteriously ?

[@oliverhannan6031]

Imagine all of the cleaning up and hiding that CZ and Binance have done in the last year while the spotlight was on FTX/SBF.

[@vanhuvanhuvese2738]

They did but did they clean up because if they dont have money they will still endup...

[@AxiomApe]

@@vanhuvanhuvese2738… bankrupt

[@beckstheimpatient4135]

I don't think these guys are either smart enough, capable enough, or have enough of a 'blanket' to try and cover up their shady dealings. It would be like trying to cover Shaq with a baby blanket. Nothing can hide that amount of financial crime. Which is why Deloitte refused them, I imagine. No amount of bribery from Binance could ever 'help them figure out the numbers'.

[@N3gativeR3FLUX]

Should have bought some shares in a paper shredding machine company.

[@captainspaulding5963]

​@@jonny_lagunasure seems like Sam is sitting in jail right now because FTX had the spotlight on them....

[@franciscov799]

Good job and video !!

[@bryceplatzer1651]

Just to start, I like the intro of reading the caption like it’s a news article. Plus it helps with people just scrolling and stopping to watch the auto-play real quick.

[@CallMeMicahT]

What I’ve learned from Coffee is don’t trust anyone involved in the crypto

[@fitchmultz]

Except Sergey Nazarov

[@MESSY-AF]

because it is literally a scam

[@danielling5803]

​@@MESSY-AFcoffee holds some crypto I think

[@monkey39128]

@@danielling5803 Probably a gamble just incase it ever becomes widely adopted.

[@stealthysaucepan2016]

crypto bad

[@mindmachinepsy]

Who would have thought that a crypto company is doing something shady. I could never have guessed

[@j...bro.]

Banks In Australia namely NAB.facilitated. Billions of shady deals. Including child trafficking funding of terrorism and austrac just gave them.a ( relatively) small fine ( no jail time). Where there is money transfers there is always corruption it seems.

[@pepsico815]

Thankfully we have Bitcoin. Sorry if you got scammed by crypto companies.

[@TrackpadProductions]

TBH as soon as anyone in crypto responds to legitimate criticism with the word "FUD" I immediately assume they're not to be trusted

[@gaberlc]

@@pepsico815 Yeah... Bitcoin, not at all involved in anything shady ever. Silk Road?

[@i6power30]

​@@TrackpadProductionsyou are doing something wrong if you thought you needed trust to do anything in crypto

[@Snugglepaws_OwO]

SBF is very happy to hear this.

[@shashankkrishna4057]

After the FTX scam,this was bound to happen

[@marcellamerck1344]

Did his Mom call him stupid because she knew he made his money laundering drug money? 😄 That poor woman.

[@jacksmith-mu3ee]

Source

[@thecall0ut]

@@jacksmith-mu3ee your mom

[@Mordecrox]

​@@jacksmith-mu3eehimself, he said so.

[@EmyN]

She must have known he was shady

[@IamMuldeh]

She knew he made his money through cryptocurrency.. so yes.

[@thealliesarejews]

Always staying informed is probably the greatest gift Coffee gave us. Bless this man.

[@DABA2024]

I mean, we get informed while NOTHING happens to the scammers. I guess it’s entertaining though?

[@THE6uk]

Respect coffee sir from 🇬🇧

[@alhomsi2325]

Cardven token and amazon signed a partnership. It will blow up once it hits mainstream.

[@lombardo141]

It amazes me how crypto geeks swear by the decentralization of Crypto but are willing to put all their money in a centralized location.

[@whatdaro]

greed blinds people, most people sell the "decentralized, finance the unbankable" idea, but they don't really care... all they care about is making a quick buck without doing anything.

[@pepsico815]

The smart people don't.

[@michaelpeters78]

nobody with millions of dollars in crypto is going to leave it on an exchange lmao you can download a crypto wallet. we have that technology.

[@DeuxisWasTaken]

Those are different people. "Crypto geeks" definitely do not keep money in centralised exchanges and custodial wallets.

[@lombardo141]

@@pepsico815 Smart money ? I hope you mean individual smart money. Cause so called “smart money” like Black Rock and co could not figure out that FTX was a scam.

[@Lemaforthewin]

Reminds of the HSBC case, where they accepted money from Mexican Cartels. They only had to pay $1.9 billion. Lovely, lovely world :)

[@SamDurkSheff]

Good video as always and I wanted to add that I loved seeing you pop up recently in that BBC documentary on SBF; I think you've got a few fans at the beeb!

[@BriedisLTU]

How is different than banks? If everyone tries to cash out bank crashes as they don’t have all the money.

[@Jeffrey_Tyler]

I hope we get a real Coffeezilla deep dive on this because the money laundering is the absolute LEAST of the charges.

[@somebodythatiusedtoknoooooooow]

Yeah right, did he torture small kittens on the side as well Mr. Sherlock?

[@ToastyAlpha]

@@somebodythatiusedtoknoooooooowfacilitated funds that reached terrorist orgs lol Plus money laundering, mixing funds, etc. Literally everything SBF did just CZ is smarter.

[@MrDucenukEM]

how about we audit the government....

[@castillonelson]

​@MrDucenukEM we do, but we have to audit the auditors too.

[@MaddogMD82]

He's well and truly down the rabbit hole, don't you worry about that.

[@kieranelliott5607]

And to think he seemed such a totally non-shady chap in a non-shady industry.

[@bullpup1337]

lol good joke

[@alexandermeneses5688]

Lol

[@j...bro.]

You should see what happens with cash.....

[@jmiquelmb]

@@j...bro. What happens with cash? Tell me

[@animekingdom4918]

​@@j...bro.Crypto is a lot worse

[@MenkoDany]

Always a good day when Coffee Break uploads to his second channel

[@ShirtNerdless]

What drives your journalism (beside monetary devices). You are the best !

[@chris47293]

so many of coffee's vids up to this point ended with "these people are evil hopefully they face consequences" so it's really satisfying that the consequences are coming through now

[@ianm1462]

Shocked (shocked!) that another crypto company is involved in shady nonsense.

[@moonstruck336]

You tha man coffee !

[@churd825]

Market said we don’t give a fuck and resulted in a pump

[@ty5ler]

Always on the cutting edge of reporting. Good job coffee. If only all media did actual investigations like this….

[@DoopamineHit]

Media cover people like this and attack people like us doing the exact same thing. Media is bought, none of it it’s real

[@Vespyr_]

They used to. Long ago.

[@Waroncrypto]

Cutting edge of reporting what?

[@papichulo8749]

@@Waroncryptowith a name like yours you sound like a suspect

[@prof.crastinator]

He’s showing other reporters info and interviews… so it’s still there…

[@leemurrison9869]

Remember when CZ took the "high road" when FTX was exposed lol. Who could have ever seen something like this coming?

[@kalicula7718]

Compared to how much FTX f*cked up, Binance looks like a saint rn.

[@olicorless1926]

It's different though. FTX was using customer funds, there is no evidence that suggests Binance are doing the same. Binance aren't innocent, but they're nowhere near as bad as FTX (Based on what we currently know, obviously my opinion on this could change if evidence comes out that binance have been spending customer funds).

[@michaelbuto305]

@@olicorless1926 Nah. Time will prove they basically the same. The differences is, one dude is american and one dude is chinese. It sounds not related but if you put the Culture behind those two races, you know which one more solid than the other.

[@HeavyMetalGamingHD]

yeah literally everybody could see that coming. Everything involved in crypto is shady or straight up a scam

[@Crypdography]

FTX scammed customers. Binance hurt nobody and helped customer indiscriminately. If that's not the high road idk what is.

[@cnxlee_69420]

it's about time

[@CoolDude911]

The number four has a conotation with death in China.

[@tsosiegeraldson]

Coffeezilla you're One of the best guys ever to explain everything on Crypto Schemes. Thanks your videos are awesome and informative.

[@zakblue]

Don't just believe one source though. I disagree with many of the takes in this video and I've followed Binance's development since 2017.

[@nolongerblocked6210]

​@@zakblue what specifically do you disagree with, I genuinely want to know

[@toweypat]

I love how Zhao helped bring down SBF, and now is being collared himself.

[@PrivateSy4z]

Takes one to know one

[@tomasgomez9925]

He wants to make him company in prison

[@Septeemberpain]

Was thinking same

[@mikatu]

I love that nothing of that is true.... SBF will be sentenced, CZ will pay a fine and keep doing everything as before.

[@khyrulanwaar4628]

Even criminals have competitors

[@oliverw.1187]

Top notch content

[@stefamarz]

Even his mom has warned us all along.

[@flynnzone70]

Speaking as someone who discovered Binance through F1, it's crazy but also unexpected seeing these Crypto sponsors going to shit a year after they joined a team

[@frevazz3364]

It’s not surprising at all.

[@Matt-ru5rw]

Really, you still don't get that crypto is a scam?

[@aluisious]

"They don't know how to audit crypto exchanges" is such a hilariously stupid excuse.

[@lolilollolilol7773]

Mom was right to call him stupid I guess

[@merphul]

Isn't everything supposed to be "on the blockchain" and therefore "permanent, traceable and immune to forgery"? Oh, wait, all the exchanges operate 99% off chain and undercut all of that. Cryptobros used to chant "not your wallet/not your keys" like a mantra and the biggest predators in crypto end up creating exchanges that ignore all that. Regardless, all modern exchanges are purely electronic. You literally download the files and hand it to an auditor that will probably run it through their advanced tools that they've... created in Excel.

[@3ikilee]

If they can audit casinos they can audit crypto exchanges 😂

[@michaeldy2580]

Crypto isn’t difficult science that only very smart higher beings can understand. Auditors can study and audit it.

[@jwenting]

they don't know they're not allowed to call out corruption and fraud is what he means.

[@joanneleasley316]

i love your shows

[@manosassassin]

I deadass got a binance ad on KZbin scrolling down on this video.

[@mohba01]

As a drug dealer and cartel I didn't even know such a choice existed 😢, I always have used the normal channels to launder my money, like deutsche bank.

[@EclipsaMyrtenaster]

“But his mom still called him stupid!” And I guess she’s right

[@nahuelpiguillem2949]

HAHAHA

[@KBWeeds]

Some moms really know their kids.

[@mghq-mobilegamerzhq2533]

He walked a free man, still a billionaire, his exchange is allowed to run and he can still keep his majority share he is very very very far from stupid

[@noanyobiseniss7462]

He's not in jail and only fined 50 mil, he got away with it so apparently hes not that stupid.

[@user-xr3rb6pn9m]

​@@mghq-mobilegamerzhq2533I have some doubts that he will get away with it without at least some prison term

[@IsomerSoma]

I am ao shocked. Who could've foreseen this?

[@Nedwin]

Probably the most controversial scandal in 2023.

[@totalbullion5882]

I don't mind if I get fined 4 Billion If I made 60.

[@rebelsouljaz]

And it's not even him who's being fined it's the company

[@gabriellessa7706]

yea drug money human trafic money gun money is BIG!!!, and it's isplicitly being laundery by crypto real sad

[@papalegba6796]

Yeah he's already made his money, if he can get out & avoid jail he's laughing.

[@beesong2450]

Chump change

[@VVoude]

Even if Changpeng Zhaos was fined 4billion it wouldnt hurt him. Dude has +10Billion networth >_>

[@herbertscott9575]

Scammers go in panic mode when coffeezilla upload

[@Rapido20]

Why would he panic? he’s free won’t go to jail and gets to keep billions he has stolen ???

[@HShango]

​@@Rapido20he just won't be part of that junk aka crypto

[@WunnSEN]

@@Rapido20 Because there's now a video tarnishing him online and these type of people hate this stuff. Not only that, nobody legitimate is going too EVER touch him. While he may have BILLIONS, trust me, the man probably has no real friends and lives a miserable life. Just look at how Notch's life turned out, the creator of the game 'Minecraft'. Being a billionaire doesn't equate to happiness no matter how nice it sounds.

[@michaelpeters78]

@@Rapido20 who did he steal from? did you watch the very short 8 min video?

[@Mikanoshi]

​​@@Rapido20 He earned his money "honestly", exchange was just allowing shady persons to trade, and profited from their trading fees. Nowhere near fraud, theft or whatever the fuck you are trying to pin on him without understanding what the actual charges are.

[@edcko10]

Crazy how 4 months later BNB is almost back to ATHs even after pleading guilty and being fined

[@satperush]

They never stole money from Customers. That is the MOST IMPORTANT THING!

[@viltvardisnemiers4075]

CZ walks into a prison cell, SBF greets him and says: "This bed is already occupied by Mr. Mashinsky. You can park here below Do Kwon."

[@jamesmercer848]

“An audit doesn’t find every problem” is such a terrible response lmao, basically “we don’t need an audit because they wouldn’t find the types of crime I’m committing.” Like, we all see how that’s not a very good defense, right?

[@dreed100]

More like Hey. It will not find all problems so why bother. Cause definitely they have shady deals which would be spot by an auditor who just finished first year of university

[@letsburn00]

This is the attitude of scammers. It's also the attitude of "government regulation misses things, so let's just get rid of it". The attitude of demanding perfection from things or we never do it is a red flag of someone being a scammer or being stupid.

[@somebodythatiusedtoknoooooooow]

Yeah the people who don't understand crypto think its a terrible response agree

[@schizo5189]

​@@letsburn00 well said. That attitude is very common among the crypto community where scammers thrive and idiots will repeat it not knowing it will fuck over them

[@mcmerry2846]

He described the US gov

[@Randomgrogu]

What happens if they pay the fine with customer funds and we find out later can a court clawback from government like they do investors?

[@flusterzero]

Wow coffee you single-handedly caught him

[@gcullen576]

Coffee has been winning hard recently! Let’s hope it keeps goin!

[@AndersonPEM]

Not your private key? Not your money. Self custody. That simple.

[@Mikanoshi]

Has zero to do with the actual story.

[@StefanReich]

Show me a way to do future trading with self custody and I'm in

[@corvoattano4777]

​@@StefanReichgmx or dydx i think

[@aetheralldev]

missing the chill coffeezilla music at the end, great video nonetheless :)

[@tonypaella]

Since I've started watching Coffee, I'm getting tons of ads on KZbin from traders, gurus and financial experts

[@richardmaccagni8690]

I love the interviewer's face when CZ says "actually they don't know how to audit crypto exchanges"

[@retrokoh1507]

When he clapped back with citing Coinbase... CZ's response killed me😂😂😂

[@aw7614]

"use centralized exchanges like a public washroom. get in, do your busiiness, and get out."

[@TheBreak-Down]

The ending got me! 😆😆

[@cernos7230]

4.3 Billion is a slap on the wrist, there must be a reason he did this willingly

[@FactsAboutTheWorld.]

ya its to stay out of jail.

[@nsbdbsbsbdbzbz8555]

Because he made 50 billion. Youre welcome

[@pauls5745]

he still personally nets billions, but his exchange will take a hit and he's a bad guy now... but he made billions

[@FlatEnough]

BINANCE is well established, therefore welcomed into business. However, US derivatives and money (laundering) are heavily regulated, so he cannot be allowed to hold a monopoly now that other players are entering the market.

[@garrettbewsy144]

cause a trial would reveal all the terrible accounting lol

[@drevil2675]

You don’t have to worry about Binance. They will use customers’ funds to settle the bills.

[@beautytruth8181]

If the SEC is in control now.... they will start freezing assets soon. Move your COIN away from exchanges and into self custody asap !

[@zaco-km3su]

That will end badly. It will be another lawsuit and that will put CZ in prison....or he'll wish he ends up in prison.

[@MegaLoquendo2000]

​@@zaco-km3suIf binance goes the same path as ftx that'll be a hit in the crypto market that will take many years to recover from

[@777jrg]

​@@zaco-km3suhe doesn't even live in America. How'd he end up in prison?

[@nathan9825]

You sound a bit sick. Get better my guy. Love your contents!

[@Nobos]

I love getting crypto scam ads before a coffeezilla video

[@aidanm5578]

I KNEW the way he went after FTX was a sign of his own misdeeds. It's always the case.

[@tabby73]

Scammy minds think alike

[@numbhead]

I mean FTX literally scammed the shit out of his costumers, all he did was launder some money from drugs, not like the banks and governments doesn't do that already 🤷🏼‍♂️

[@boccobadz]

Did Binance ever took customers money? Have they done market manipulation using their sister company? Does CZ is stucked in bronze lmao? They're nothing alike.

[@numbhead]

@@boccobadz it's like comparing a murderer with a tax evasion lmao

[@eronmonseleoaikhina5832]

So true @@numbhead

[@petesmith13]

"but his mum still called him stupid"... Shes got a good point

[@ChippiesBR]

Just FYI in regards to not being able to get a big 4 Auditor: Im in Australia and alot of large audit firms have a flat international stance to not work with crypto companies due to risk. We had a special exception granted to have our company done by a large/mid tier firm - most likely due to our history with them already, but also does mean going forward they may not perform our audit in future years (despite the company being full above board and audited previously). So not defending CZ here, but some of what he said is true there and out of his control.

[@andrewwright.]

back to ten mins or less....😂 jokes. ...that near hr long episode... absolute quality 👍 best channel on tube

[@larswyness1901]

That ending was phenomenal Coffee, bravo. I could almost hear the Curb Your Enthusiasm theme song

[@masonnnnnn1]

I really appreciate your final clip of telling CZ's true story, you're a goddamn legend coffee.

[@symbiote1982pk]

How do you know it's final? are you psychic? from the future? making baseless assumptions? yeah I know it's the latter, I just like pointing out nonsense, have a good one.

[@luxuryseaviewvillas6744]

@@symbiote1982pk i think he just meant the final few minutes of this video.

[@NoxUmbrae]

@@luxuryseaviewvillas6744 Don't tell them, it is funnier when they don't realize how their hubris makes them look.

[@backlogbuddies]

Wtaf did i just read?

[@kingRagnar616]

Come on coffee i need longer vids please 🙏🙏🙏

[@IllIl]

Great video. Looks like some shysters are finally getting burned. But I have to laugh whenever crypto speculators are called "investors."

[@FlatEnough]

- US govt: "How DARE YOU launder money? This is OUR job" - CZ: "$4.3 bil OK?" - US govt: "Sure."

[@Yami-mugoni613]

Oh me oh my…This year seem to have been the year of Cryptos being exposed left and right

[@unclefred3128]

Are we getting a The Completionist episode soon?

[@anonymousone5265]

You need to follow up on the fines and charges on the Banking industry.

[@depression_daily]

As an auditor myself (former Big 4), we absolutely know how to audit crypto.

[@ClownTrader1]

You guys don't know how to do it, to make them look NOT guilty of scamming 😂 is what he meant

[@f86tune48]

Doubt*

[@rebelsouljaz]

Then how come they didn't audit him then?

[@user-xr3rb6pn9m]

​@@rebelsouljazauditors are not police, they can only audit companies which invites and pays those auditors

[@TheNaldiin]

Oh, absolutely. Crypto transactions aren't somehow magic because of the Blockchain. The same basic legitimate and illegitimate actions haven't changed much. See FTX being an old-fashioned embezzlement.