AssetID: 55294491
Headline: UNCAPTIONED: Binance Faces U.S. Lawsuit Over Alleged Terror Financing Amid Trump Pardon of Founder
Caption: Binance Faces U.S. Lawsuit Over Alleged Terror Financing Amid Trump Pardon of Founder. Binance and its founder, billionaire Changpeng Zhao, are facing a U.S. lawsuit accusing the crypto giant of facilitating millions of dollars to terrorist organizations, including Hamas and Hezbollah. The case was filed by victims and families of the October 7, 2023, attacks in Israel. The complaint alleges Binance knowingly allowed over $1 billion to flow to accounts tied to designated terrorist groups, including $50 million sent after the attacks and that the platform only screened funds when users tried to withdraw them. The lawsuit claims the company intentionally structured itself to allow illicit activity to flourish. This legal action comes weeks after President Donald Trump pardoned Zhao, who had pleaded guilty in 2023 to money laundering charges. Binance insists it complies with international sanctions laws and has upgraded its compliance systems, noting that illicit activity remains a tiny fraction of its operations. The victims are seeking damages in a U.S. federal court, reigniting scrutiny of Binance's practices. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current affairs & Politics,Binance,Changpeng Zhao,U.S. lawsuit,terror financing,Hamas,Hezbollah,October 7 2023 Israel attacks,$1 billion funds flow,withdrawal screening,illicit activity,Donald Trump pardon,money laundering 2023,compliance laws,federal court,damages claim
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