Bitcoin investor and entrepreneur Mike Alfred went to Twitter recently to call out some strange happenings in the crypto world.
“Catherine Coley and Brian Brooks, two highly respected US executives, resigned suddenly under mysterious circumstances in 2021 after catching a glimpse into the inner workings at Binance. Brooks resigned just 3 months after starting and Coley has not been seen since,” he tweeted.
Brooks resigned in August 2021 after joining BinanceUS as CEO in May 2021, taking over from Coley. At the time, he sent out a tweet about his exit.
“Greetings #crypto community. Letting you all know that I have resigned as CEO of @BinanceUS. Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!”
After parting ways with Coley, she “went missing.” Crypto media outlets as late as January were noting her absences on social media. She “effectively dropped off the face of the digital world, Coin Telegraph reported in January. Prior to leaving Biance, Coley was very active on social media, consistently posting to both her Binance.US social media accounts as well as on and personal life to her Twitter account. She has been social media silent “since April 19. Her job experience on LinkedIn ends with her two years as CEO of Binance.US, which she left in June 2021, and her online silence has led at least one news outlet to reach out to San Francisco authorities to determine if she had been reported missing — as of October, the answer was ‘no,’” Coin Telegraph reported.
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Alfred says the silence from both Brooks and Coley speaks volumes.
“Neither has been willing to speak on the record about what they saw there but it’s safe to say that it’s not good. In crypto, where there is smoke, there is almost always fire. Stay safe out there,” Alfred tweeted.
And many like Alfred have their doubts about the sustainability of Binance– or Tether, for that matter.
Binance, the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume, is being called out by many. It’s run by CEO Changpeng Zhao.
Renowned New York University Professor Nouriel Roubini, who warned in 2006 that the U.S. housing bust would cause a financial crisis, is calling out what he says are crypto scammers. Nicknamed “Dr. Doom,” Roubini declared that cryptocurrency exchange Binance CEO Changpeng “CZ” Zhao could be a bigger scammer than Sam “SBF” Bankman-Fried, founder of bankrupt FTX.
Meanwhile things are not looking great for Tether either. Tether, an asset-backed cryptocurrency stablecoin, was launched in 2014 and is owned by the Hong Kong-based company iFinex Inc., which also owns the Bitfinex cryptocurrency exchange.
All of this doubt comes on the heels of the massive downfall of FTX and his founder Sam Bankman-Fried (SBF). Now, many are saying they were bamboozled by SBF and his crypto tricks.
“In August 2022 he was touted as ‘the second Warren Buffett’ by Fortune magazine, but Sam Bankman-Fried (SBF) has bankrupted his two companies, with investors losing up to $10 billion, and there are numerous allegations of outright fraud and theft*, not just accidental mismanagement,” Dr. Jeremy Britton, CFO, Boston Trading Co., told Moguldom Nation. Boston Trading Co., launched in 2016, issues and manages several funds, including its flagship fund and what it called “the world’s first diversified crypto fund,” BostonCoin.
Britton added, “Rumors that FTX was “hacked”after declaring bankruptcy initially had people feeling sorry for SBF. The next story to come out was that SBF hacked his own exchange for $600 million and apparently handed the stolen funds to purportedly corrupt authorities in the Bahamas. It Seems that everything SBF touches turns to crime.”
Alfred is calling for the crypto sector to speak out.
“When the truth finally comes out about CZ and Binance, all the people on here who relentlessly hero worshipped him will suddenly deny ever supporting him. A story as old as time,” he tweeted.
And he thinks Binance failure could take out Tether.
“If Binance implodes, it will almost certainly happen simultaneously with the de-pegging of Tether. The recent massive USDC/USDT trades are a warning. Be prepared,” he tweeted.
Photo by Bastian Riccardi: https://www.pexels.com/photo/close-up-of-a-gold-bitcoin-9169177//Bitcoin investor and entrepreneur Mike Alfred (Photo: LinkedIn)