Barclays UK claims to keep people “safe”, they will stop payments to Binance. Why should Barclays decide how one can or cannot not spend their own funds? This bank was even caught criminally manipulating interest rates (LIBOR scandal)

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Barclays UK is sending out messages to people who have used their account to transfer funds to Binance stating they will suspend the transactions.

Text message from Barclays

“Help keep your money safe” lol.

This same bank Barclays had manipulated LIBOR rates and caused damages to the tune of billions and paid a fine of $450m for their illegal actions and violating the trust of market participants.

In June of 2012, Barclays plc admitted that it had manipulated LIBOR—a benchmark interest rate that was fundamental to the operation of international financial markets and that was the basis for trillions of dollars of financial transactions. Between 2005 and 2009 Barclays, one of the world’s largest and most important banks, manipulated LIBOR to gain profits and/or limit losses from derivative trades. In addition, between 2007 and 2009 the firm had made dishonestly low LIBOR submission rates to dampen market speculation and negative media comments about the firm’s viability during the financial crisis. In settling with U.K. and U.S. regulators the firm agreed to pay $450 million in fines. Within a few days of the settlement, Barclays’ CEO, Robert Diamond, had resigned under pressure from British regulators.

Source: https://www.hbs.edu/faculty/Pages/item.aspx?num=43888

Now the same bank wants to preach where one can and cannot spend their own funds.

Authoritarian banks which undertake illegal manipulative schemes behind the curtains but without any shame pretend they are the gatekeeper of everyone’s finances like this are the very reason crypto came into being and has grown over the past decade.

submitted by /u/Set1Less
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