Bloomberg Television published this video item, entitled “Balance of Power Full Show (06/08/2023)” – below is their description.
On Balance of Power, 06/08/23, Senator Chris Van Hollen (D-MD) on wanting the Department of Justice to investigate Binance, and Admiral Mike Rogers, Former National Security Agency Director on the impact of geopolitics on investment.
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Binance is a cryptocurrency exchange which is currently the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
The company has launched various cryptocurrencies: Binance Coin (BNB), launched June 2017, and Binance Smart Chain (BSC), launched September 2020. Binance Smart Chain operates using “Proof of Staked Authority”, a combination of proof of stake and proof of authority.
Binance is currently under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses. The UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.