Israel Crackdown Freezes Millions In Crypto Assets On Binance To Block Hamas Funds
Portfolio Pulse from Murtuza Merchant
Israel has intensified efforts to disrupt Hamas' access to cryptocurrency market, freezing dozens of accounts and seizing millions of dollars’ worth of crypto coins. More than 100 accounts were affiliated with Binance (CRYPTO: BNB). Tether (CRYPTO: USDT) has also announced the freezing of 32 addresses connected to unrest in Israel and Ukraine. The Financial Stability Board is among the global entities crafting strategies to offset terrorist financing in digital assets.
October 17, 2023 | 2:13 pm
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NEGATIVE IMPACT
Binance's involvement in the crackdown on Hamas' access to cryptocurrency could potentially affect its reputation and user trust.
Binance's involvement in the crackdown, while adhering to international sanctions rules, could potentially lead to a decrease in user trust and reputation, impacting its stock negatively in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tether's action of freezing addresses connected to unrest could potentially affect its user trust and market position.
Tether's action of freezing addresses, while in response to unrest, could potentially lead to a decrease in user trust and its market position, impacting its stock negatively in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70