Craig Wright accuses Binance and Tether of funding prostitution and slavery, community backlash ensues ๐จ This article is 5 years old...
Craig Wright accuses Binance and Tether of funding prostitution and slavery, community backlash ensues
2 min read
Updated: Jun. 2, 2019 at 10:19 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Craig Wright, the controversial Bitcoin SV creator claiming to be Satoshi Nakamoto, accused crypto exchange Binance and stablecoin company Tether of funding prostitution and slavery.
During the CoinGeek conference in Toronto, Wright said that 30 percent of “Binance and Tether money” is used to fund illegal operations such as prostitution and women in slavery.
The Craig Wright saga keeps on delivering
The controversial creator of Bitcoin SV (BSV) has been the focus of a lot of media attention in the past few months, but none of the scandals associated with him managed to top this one.
While giving a speech at the CoinGeek conference in Toronto on May 30, Wright made a slew of claims that can only be described as outrageous. Wright also claimed that the only reason why Bitcoin (BTC) was in still circulation is to enable illegal activity.
In a snippet of his speech, Wright is heard making accusations towards Binance, Bitfinex, and Tether, some of the biggest companies in the crypto industry.
Wright said:
“Binance, Bitfinex, and Tether use Bitcoin to fund illegal operations for pumping money such as illegal money travel, illegal use of people smuggling.”
Wright also accused the companies of being responsible for funding prostitution and slavery. He told the audience at the CoinGeek conference in Toronto:
“Right now, 30% of Binance money funds women in prostitution, 30% of Binance and Tether funds women in slavery.”
WTF is this guy talking about?
According to Craig Wright, in his talk today from @RealCoinGeek Toronto
"Thirty percent of @binance and @Tether_to funds women in slavery."
I can't wait to see how the cultists attempt to explain how this statement is somehow true. pic.twitter.com/JDxHixcrbi
— โin โถrmani (@vinarmani) May 30, 2019
Wright’s outrageous accusations met with ridicule
The clip of Wright’s speech quickly began circulating through social media, with users almost unanimously ridiculing the absurdity of the accusations made. Peter McCormack, the host of “What Bitcoin Did” podcast, brought the clip to the notice of Changpeng Zhao, the CEO of Binance.
.@cz_binance bruv, have you seen what the Moroninator is saying about Binance? https://t.co/Zg2w69JvcG
— Dr. Peter McCormack (@PeterMcCormack) May 31, 2019
McCormack, who has been weighing his options on how to defend himself from Wright’s libel lawsuit, sent the video to Zhao, asking whether he’d seen the accusations he made at Binance.
Zhao was quick to respond, saying that won’t bother with suing Wright as he would rather not give him any attention.
giving attention is probably what he wants… We ignore stupid stuff, and focus on things that matter. #BUIDL
— CZ Binance (@cz_binance) May 31, 2019
The Twitter thread between McCormack and Zhao was then transformed into a support train for McCormack, who announced that he will bring Wright’s libel lawsuit against him to court. He said that his legal team has filed an intention to defend against Wright’s lawsuit with a UK court and that he will be accepting help and donations to aid with his defense.
1/ I have instructed RPC to act of my behalf in my defence against Craig Wright. After reviewing pro-bono offers v the market I have decided it is essential to appoint the best firm possible.
RPC is the best and most equipped UK firm to defend in cases of libel.
— Dr. Peter McCormack (@PeterMcCormack) May 31, 2019
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In this article
Bitcoin SV
$66.0108
Bitcoin SV is a full-node implementation for Bitcoin Cash (BCH).
Tether
$1.00086
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Craig Steven Wright, commonly referred to as CSW, is an Australian computer scientist and business professional who has been at the center of controversy within the cryptocurrency community.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
Hailing from the United Kingdom, Peter McCormack stands out as a preeminent figure in the cryptocurrency podcasting realm.
