Britain's bases are NOT up for negotiation with Cyprus despite country's president demanding 'frank' talks over 'colonial' outposts, insists Labour minister
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How I avoided paying Ryanair's pesky add-on luggage fees with a 16-pocket coat... and I packed a week's worth of clothes!
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Eamonn Holmes' son Declan shares statement after TV star has stroke: 'We're taking it one step at a time'
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One small step for WOMAN! 10 leading female scientists reveal what their first words on the moon would be - and they put Neil Armstrong's famous quote to shame
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Why you must NEVER ignore headaches and these subtle vision changes. It could be the first sign of one of these life-changing brain, inner ear or nerve conditions
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A fashion editor's guide to the specs and sunnies to shop this season, including the best shape to slim your face
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Louise Thompson says she believes the Artemis II space mission was a 'wild hoax' as she questions snaps of the astronauts' historic return to Earth
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Jennifer Lopez, 56, shows off killer figure in sexy bodysuit as she makes Coachella debut with surprise performance alongside David Guetta
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Justin Bieber fans question why he was 'paid $10million to skip through songs on a laptop' as they share memes and label his stage comeback 'the worst Coachella performance in history'
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The Ivy owner Richard Caring dubbed the 'King of Mayfair' sells his restaurant empire to Abu Dhabi sheikh in £1.4bn deal
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Police manhunt after one left with 'serious face injuries' in Dunmow pool club scuffle
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Resilience expert shares her simple four step plan that can help EVERYONE move on from failure: 'Stop feeling guilty and be excited to try again'
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Inside the world's creepiest abandoned airports - from a disused Kent base to the German hub with a Nazi past
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The Beckhams cheer on Inter Miami as Victoria and sons Romeo and Cruz support David's MLS team
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The South Pacific islanders who worship the spirit of a US WW2 soldier they deem 'more powerful than Jesus' and hope he will one day return with crates of Coca-Cola
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Crypto Billionaire Pardoned In Prison By Trump Just Wrote a Memoir
Forbes estimates he's worth roughly $110 billion, "placing him ahead of Bill Gates."
And now Changpeng Zhao, the 49-year-old billionaire founder of Binance, "has written a memoir..."
It arrives with the unmistakable timing of a man determined to tell the world his version of his meteoric crypto rise and fall, and foreshadow his comeback. The book, Freedom of Money: A Memoir of Protecting Users, Resilience, and the Founding of Binance, runs 364 pages, self-published in English and Chinese.... Zhao also recounts Binance's long battle with U.S. regulators, the company's record $4.3 billion settlement for fostering unscrupulous money launderers, his four-month prison sentence in California, where he says he began writing the book, and his recent pardon by President Trump...
In Zhao's telling, the case brought by multiple U.S. agencies was less about what Binance had done than about what it had become... "It didn't make sense to me, or any of my lawyers. Other than the fact that we were the biggest in the industry." The U.S. government alleged something more specific: that Binance failed to implement programs to prevent or report suspicious transactions — including those tied to Hamas's Al-Qassam Brigades, Al Qaeda, and ISIS — while also processing trades between U.S. users and those in sanctioned jurisdictions like Iran, North Korea, and Syria. In total, regulators alleged the exchange willfully failed to report more than 100,000 suspicious transactions, including those involving terrorist organizations, ransomware attackers, child sexual exploitation material, frauds and scams... The final settlement amount — $4.3 billion, split across the Department of Justice, the Department of the Treasury's Financial Crimes Enforcement Network, the Office of Foreign Assets Control and the U.S. Commodity Futures Trading Commission — was the largest corporate penalty in the history of nearly each agency involved. Attorney General Merrick B. Garland said at the time of the announcement: "Binance became the world's largest cryptocurrency exchange in part because of the crimes it committed."
The prison passages are among the most vivid in the book. Zhao says he was worried about extortion because the media had reported he was the richest person in U.S. prison history, but then realized no one read the WSJ or Bloomberg or recognized him. Zhao also writes about the food, the routines and the specific indignity of confinement, including sharing a cell with a man serving 30 years for killing two people... Writes Zhao of his cellmate, "Soon, I discovered that the most lethal thing about him wasn't his murder conviction, it was his snoring. He snored more loudly than thunder strikes, the sound of which rose even above the constant toilet flushings."
Binance at one point held a roughly 20% stake in Sam Bankman-Fried's FTX and about $580 million in FTT tokens, the article points out. "As FTX neared collapse in late 2022, Zhao writes, Sam Bankman-Fried called to ask for a couple of billion dollars 'nonchalantly, as if he was asking for a bologna sandwich.'
"Some believe that Binance's brief show of interest in acquiring FTX, followed by its abrupt withdrawal from the deal, hastened FTX's spiral into bankruptcy..."
Thanks to long-time Slashdot reader destinyland for sharing the article.
Read more of this story at Slashdot.