DSA president, Alison Jimenez, was quoted in MoneyLaundering.com on the SEC’s complaints filed against Binance and Coinbase.
Coinbase’s “staking” program, which offers investors a yield for the temporary use of their cryptocurrency, generates commissions as high as 35 percent for the company, a rate that “would make even hedge funds blush,” said Jimenez, now president of Dynamic Securities Analytics, an anti-money laundering and cryptocurrency-sector consultancy in Tampa, FL.
Read the full article by Fred Williams “With Binance and Coinbase Actions, SEC Stakes Claim Over VASPs” here.
DSA’s review of the SEC’s forensic accountant’s asset freeze declaration against Binance found some interesting financial transactions:
- $10 million to Simpson Marine (S.E.A.) Pte Ltd. which appears to be a high-end yatch brokerage
- Money movements between 2019 and 2023 involving BAM Trading Services, Inc. and other crypto companies facing regulatory or criminal enforcement…
- $424 million from Coinbase
- $318 million from Alameda Research and $1.5 billion to Alameda Research
- $54,705,000 from Binance Capital Management Company Limited to “Insured Aircraft Title Service, LLC”
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Want more DSA Cryptocurrency Insights?
The Offshore Crypto Exchange Illusion
Fraud within Crypto Companies: The Limits of Blockchain Transparency
Cryptocurrency SARS: What do we know?
Sanctioned Countries are Operating Crypto Exchanges
