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Hoo boy, here we go again…

From Brazil via

Brazilian court blocks BRL 450 million ($100 million US) from Binance customers

Key points from the article (translated via Google):

The situation involving Binance and Capitual becomes increasingly complex. The Justice of the State of São Paulo blocked on Friday (30th) more than BRL 450 million from the company’s accounts, which intermediates the crypto platform with banks. This forced the cryptocurrency exchange to stop withdrawals from the organization’s users. According to the website Valor, the money belongs to Brazilian customers.

Binance, responsible for trading around US$ 50 billion (R$ 250 billion) daily around the world, has been financially “locked in” in Brazil since the 17th, when Capitual, the fintech responsible for the company’s financial operations in country, stopped carrying out the deposit and withdrawal transactions of more than 4 million Brazilian users.

So basically one of the largest crypto exchanges in the world has been blocked from doing business with one of the largest countries in the world.

This will end well.

But it doesn’t end there:

Thankfully, most cryptogeeks can not find the CAR on a map, much less understand why this important. However they will understand CryptoWhale‘s second important Tweet tonight:

Someone might just miss their Tesla payment tonight.

Good thing it’s the ultimate hedge against inflation.


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