Arthur Hayes slams TradFi double standards
In a blog post, Hayes condemned the TradFi industry and the double standards he says relate to crypto, CZ and Binance. BitMEX founder Arthur Hayes has argued that the treatment of Changpeng Zhao and Binance highlights a cunning set of double standards that unfairly targets crypto companies. Hayes noted the severity of the penalties imposed on Zhao and Binance as evidence of a contradictory stance by the U.S. DOJ and other international regulators. Over the last several years, Hayes notes, regulators around the world have witnessed massive scales of money laundering and mismanagement by TradFi banks like Goldman Sachs, HSBC and Credit Suisse. Obviously, the treatment of CZ and Binance is absurd, and only highlights the arbitrary nature of punishment at the hands of the state. Arthur Hayes Hayes mentions specifically so-called “too big to fail banks” like HSBC and Goldman Sachs, who have repeatedly been fined and charged with money laundering and other forms of malicious finan...