COINDESK DAILY: CZ's 'Good Guy' Reputation; Money Laundering Risks of Crypto
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 May 2024
⏱️ 3 minutes
🧾️ Download transcript
Summary
Host Jennifer Sanasie breaks down the latest news in the crypto industry from Binance founder CZ's 4-month sentence to a new report from the UK government on the money laundering risks of crypto.
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"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including Judge Richard Jones acknowledging Binance's former CEO Changpeng Zhao as a "do-gooder." Plus, a new report from the UK government on the money laundering risks of crypto between 2022 and 2023. And, the crypto restaking hype spreads from Ethereum to Solana.
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This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
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Transcript
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| 0:51.6 | Finance co-founder and former CEO Changpeng Zhao, also known as CZ was sentenced to a four-month prison sentence. |
| 0:59.0 | Judge Richard Jones said he had spent the weekend pouring over the more than 160 letters of support that were submitted by his friends, family, and colleagues. |
| 1:07.7 | The judge, CZ, and even the prosecutors acknowledged during the almost |
| 1:12.0 | three hours sentencing that the 47-year-old billionaire was not your run-of-the-mill criminal |
| 1:17.4 | defendant. Instead, it was said that he was a philanthropist, do-gooder, and first-time |
| 1:22.7 | lawbreaker. The former CEO pleaded guilty to violating the Bank Secrecy Act in November last year. |
| 1:28.8 | According to a UK government report, crypto was one of the biggest money laundering risks in 2022 to 2023. |
| 1:35.5 | The report said that crypto firms alongside retail banking, wholesale banking, and wealth management pose the greatest risk of being exploited for money laundering during the time period. |
| 1:45.7 | The conclusion from the report came from the Financial Conduct Authority Risk Assessments on 238 firms. |
| 1:51.9 | The FCA is the financial regulator in the UK, and it has been ensuring crypto firms register |
| 1:57.1 | with it and comply with its money laundering rules since 2020. |
| 2:01.4 | And restaking is spreading from Ethereum to Solana. A CoinDesk investigation found that half a dozen |
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