Vianovo, a crisis communications firm, recently disclosed that one of its partners, had a client in BAM Trading Services. It is a subsidiary of crypto giant Binance. In March, the Commodity Futures Trading Commission sued Binance and its founder, Changpeng Zhao, for allegedly coaching wealthy clients on how to evade regulations. Moreover, for discussing turning a blind eye to transactions conducted by Hamas, the Palestinian terrorist group. The Biden administration official’s connection to Binance raises questions about the administration’s stance on cryptocurrency regulation.

Miller’s Lucrative Consulting Work Raises Eyebrows as He Reenters Public Sector

Matthew Miller, former director of the Obama Justice Department’s Office of Public Affairs and communications director for Sen. Bob Menendez (D., N.J.), has recently reentered the public sector. His work for Binance’s public relations firm has raised eyebrows, however, due to his highly lucrative consulting work. Miller has between $30 million and $60 million in assets. Furthermore, including a $25 million to $50 million investment in a Vanguard investment fund.

Over the past calendar year, Miller earned $85,000 from Vianovo and $786,435 from its affiliate, VNPG. He also made $98,027 from NBCUniversal for his appearances on MSNBC, where he frequently discussed the Trump-Russia collusion hoax. Finally, Miller’s reentry into the public sector has raised questions about his past consulting work.

Miller’s Work for Binance: Crisis Communications and Risk Assessment

Former National Security Council adviser Rob Miller has been working with cryptocurrency exchange Binance. It is providing them with crisis communications and risk assessment services. Miller is employed by Vianovo, a company that specializes in providing crisis communications, investigations, or negative publicity. Vianovo’s client roster includes IBM, Walmart, and the NBA. In addition, it also includes Binance, Google, and the business empire of Democratic megadonor Pierre Omidyar. Miller’s work for Binance is part of the government’s effort to prevent terrorists from using cryptocurrency exchanges.

Binance and Zhao Face Regulatory Scrutiny

Vianovo has recently ended its relationship with Binance US. It is after federal regulators asserted that Binance and its founder, Changpeng Zhao, have “common ownership and control” of BAM Trading Services. This has led to increased scrutiny of Binance and Zhao. Moreover, as it has been reported that Zhao has instructed Binance employees to lie about the company’s presence in China. Finally, as the crypto industry continues to be monitored by regulators, Vianovo’s decision to end its relationship with Binance US serves as an important reminder of the transparency and truthfulness in the crypto space.

Binance Hires Attorneys and Lobbyists to Handle Federal Investigations

Binance has taken action to handle federal investigations by hiring a team of attorneys and lobbyists. The white-shoe law firm Latham & Watkins, lobbyists from Hogan Lovells, ICE Miller Strategies, and Fierce Government Relations have been hired to lobby Congress and federal agencies. Catherine Coley, the former CEO of Binance.US, has also hired a former Commodities Future Trade Commission official to represent her in anticipation of the investigations. Moreover, the State Department has responded to say that personnel across the administration follow the highest ethical standards. Binance has not responded to requests for comment. With the help of these attorneys and lobbyists, Binance is taking steps to ensure that the investigations are handled properly.

Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

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Filed under: Bitcoin - @ May 7, 2023 5:10 am