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Craig Wright accuses Binance and Tether of funding prostitution and slavery, community backlash ensues

Craig Wright accuses Binance and Tether of funding prostitution and slavery, community backlash ensues

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.”

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.

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.

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.

Posted In: People of Blockchain

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Priyeshu Garg

Priyeshu Garg

Crypto Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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