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cz

The U.S. federal court dismissed the lawsuit against Binance and Changpeng Zhao related to terrorism

A federal judge in Manhattan, Jeannette Vargas, dismissed a civil lawsuit that sought to hold Binance and its founder CZ accountable, accusing their trading activities of aiding terrorist organizations in carrying out global attacks.The judge found that the 535 plaintiffs (including victims and their families) failed to reasonably explain that the defendants "intentionally conspired with the terrorist attacks, participated in their execution, or ensured the success of the attacks through their actions." The plaintiffs alleged that the attacks occurred between 2017 and 2024 and were carried out by external terrorist organizations such as Hamas, Hezbollah, the Iranian Revolutionary Guard, ISIS, Kata'ib Hezbollah, the Palestinian Islamic Jihad, and Al-Qaeda, attempting to attribute hundreds of millions of dollars in cryptocurrency and transactions with Iranian users to Binance and CZ.The judge noted that while Binance and CZ may have some awareness of the potential for terrorist financing through the exchange, their relationship with terrorist organizations was limited to "their or their affiliates' accounts on Binance and trading in a fair manner." The judge also criticized the plaintiffs' 891-page, 3,189-paragraph complaint as "entirely unnecessary," but allowed for amendments. A Binance spokesperson stated, "The court correctly dismissed these baseless allegations. Binance strictly adheres to compliance requirements and has a zero-tolerance policy for illegal activities on the platform." CZ also mentioned that the plaintiffs were attempting to leverage Binance's acknowledgment in November 2023 of violating anti-money laundering and sanctions laws and paying a $4.32 billion penalty to seek triple damages.

CZ: Left OKCoin early due to inconsistency with its culture and values, only worked there for 8 months

CZ shared his early career experiences with Chamath Palihapitiya on the All-In podcast, including his work at Blockchain.info (now Blockchain.com) and OKCoin, as well as his deep understanding and value choices in the early Bitcoin industry.Joining Blockchain.info: CZ mentioned that the team had only three members at the time, and he served as the Vice President of Technology. The team later expanded to 18 members, but a restructuring by the CFO led to changes in corporate culture, causing several developers, including CZ, to leave voluntarily. He emphasized that he learned about remote work, the concept of paying salaries in Bitcoin, and how to achieve rapid user growth to around 2 million through "guerrilla" marketing (such as a 150-page post on BitcoinTalk.org).Joining OKCoin: After leaving Blockchain.info, He Yi contacted CZ to invite him to join OKCoin, initially offering a 5% equity stake, but BTC China offered 10%, prompting OKCoin to match the offer within three hours. CZ ultimately chose to join OKCoin in Beijing as CTO, taking on greater business responsibilities.Reasons for leaving OKCoin: CZ revealed that the main reason was a mismatch in culture and values. For example, "It mainly comes down to a mismatch in culture and values; there are some practices I cannot agree with. A simple example is: when they hold events or promote fee discounts, the advertisements make it sound like everyone can enjoy it, but in reality, you have to actively apply to receive it, and it doesn't take effect automatically. Details like this made me uncomfortable." CZ decided to leave in early 2015.
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