The crypto market is closely watching the rising Hamas-Israel conflict in the Middle East. Local reports state that Israeli police froze Binance accounts connected to Hamas On October 10.
The confiscation is intended to fund Hamas' claimed terrorist activities, and it was carried out in coordination with Israel's defense ministry, intelligence agencies, and Binance. The national treasury of Israel will get seized funds.
The United States Commodities Futures and Trading Commission (CFTC) sued Binance CEO Changpeng Zhao earlier in March 2023, alleging that he allowed Hamas to transact business on his platform. Yet, Binance has worked with Israel against terror financing, with 190 crypto accounts related to terrorist organizations being seized in 2021.
A representative for Binance reaffirmed their commitment to the safety and security of the entire world community. While the conflict continues, discussions about the conflict's devastating human cost and financial impact continue to polarize supporters.