This chapter discusses the money laundering violation case against Binance and its CEO. It highlights the failure of Binance to set up infrastructure to prevent money laundering and its disregard for KYC and AML regulations. The chapter also questions the prevalence of compliance employees putting incriminating statements in writing.
Warning: This episode contains some explicit language.
The drama at OpenAI is not over. Kevin and Casey take stock of new information they’ve gathered since last week, and look at how other artificial intelligence companies are trying to capitalize on the debacle. Then, why people are still buying cryptocurrency even after Binance, the world’s largest crypto exchange, and its founder pleaded guilty to money laundering violations. And finally, three ways A.I. is ruining web search. Or is it?
Today’s guest: David Yaffe-Bellany covers crypto for The New York Times.
Additional Reading:
Casey has new details from the OpenAI board fight.
Changpeng Zhao, the Binance founder, agreed to pay a $50 million fine and step down from his role as chief executive.