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@intel_jakal

Sep 17 • 12 tweets • 5 min read Twitter logo

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Starting a clean and hopefully shorter thread to show how these entities all fit together;
#binance #CEFFU, #bifinity #tornadosingapore

1. Tornado Singapore Technologies Pte Ltd (Singapore)
- originally incorporated as Swift Singapore Technologies Pte Ltd.
- Shareholder - Binance (Services) Holdings Limited (100%)
- Directors - Loh Tek and Michelle Tan (current), CZ (former)

#tornadosingapore doesn't appear to have a web presence but #swiftsingapore's website while its abandoned it is still online swiftsgtech.com

2. CEFFU companies are;
- CEFFU Holdings Pte Ltd
- CEFFU SG Pte Ltd (fna Binance International Pte Ltd)

CEFFU Holdings
- Shareholder - He Jinkai (100%)
- Directors - He Jinkai, Loh Teck
CEFFU SG
- Shareholder - CEFFU Holdings (100%)
- Directors - Michelle Tan, Loh Teck

#binance related job titles for the directors of #CEFFU Holdings are;
- He Jinkai - Head of Custody, Binance
- Ian Loh (Teck) - MD, CEFFU

CEFFU SG fna Binance Institutional SG launched Dec 2022 as #Binancecustody a rebrand of #bifinity which was fna #binanceUAB

Websites:
- CEFFU Singapore Co's - None
- Bifinity - primary website is (under license?), before it was (still live) and before that (which points to binancecnt not ceffu)

Definitely not confusing.ceffu.com
binancecnt.com
bifinity.com

Name/ownership;
- Binance Institutional -incorp Oct 2022, renamed CEFFU SG, Mar 2023.
- CEFFU Holdings June 2023, holds 100% of CEFFU SG.
Questions:
Which Binance entity previously held CEFFU SG
and why does an individual hold 100% of the Holding Co and not a Binance entity.

3. #CEFFU and #Tornadosingapore connections
- CEFFU appears to be pivotal importance including #SEC shitstorm
- CEFFU shares are held not by Binance but an individual.
- Tornado is owned by Binance but has never been publicly acknowledged.

Apart from Singapore, what actually connects #ceffu and #tornadosingapore them and why?
- People (definitively)
- Contracts (likely)

People
Loh Teck and Michelle Tan are directors of both CEFFU SG and Tornado Singapore.

Things become a little clearer when you bring it all together. The common directors are in yellow.

I'm going to park up the thread for now as I'm out of time. I'll be offline for the next 24hrs
Will pick up again then.

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More from @intel_jakal

@intel_jakal

Sep 16

In case peeps haven't made the connection yet....#ceffu where #Binance has stashed BAM's customer assets is NOT a profit juggernaut its a loss making dumpster.
That has a class action lawsuit against it.

I have to partially retract the above statement.... #CEFFU (15 Sep) announced that the US is an excluded jurisdiction, so they couldn't/don't/won't service BAM.

I reiterate everything else.
Bifinity made a loss for 2022, has to defend a class action lawsuit.
as per my previous threads Bifinity sits outside the BHL group structure and directly held by CZ....who is the UBO of BHL...which means yes its all the one group.

Read 13 tweets

@intel_jakal

Sep 16

Here's a little rant about #duediligence something #crypto doesn't do very much of.
Over the last couple of days, I've gone back and revisited some of my older #binance related posts - particularly #bifinity.
and have been haphazardly belting out a few posts.

One of the replies was from @cryptadamus who referenced #bifinity's status as one of #lithuania's top corporate tax contributors....something that's been smashed around #cryptotwitter no end.

I do remember seeing this previously but didn't pay much attention to it. But afterwards I thought...is that really true? Is #bitfinity really such a significant contributor to the Lithuanian tax coffers?

Read 23 tweets

@intel_jakal

Sep 16

Anyone heard of Tornado Singapore Technologies Pte Ltd it's a #binance subsidiary in #singapore.
It was previously called Swift Singapore Technologies.
It has an abandoned website swiftsgtech.com

There is no visible/public connnection to Binance but I can confirm that #tornadosingapore is a Binance subsidiary.
Tornado was previously known as Swift Singapore Technologies. #CZ was a director then (not now).
I'm curious to know what its function is and why its unbranded?

There's a couple of job postings which are now long gone that indicate that SWIFT/Tornado are payments related (note: the logo is not theirs. the job site must have pulled the logo from another group in property/construction named Tornado Group).

Read 6 tweets

@intel_jakal

Sep 7

A short story on how to spin up a fake crypto asset management company with $1B under management and a fake $300m investment into an arms length investment company.
So yeah just the typical day at the office in #crypto #lala land.

Yesterday I spent an hour or so digging into the globe trotting #bitforex #cryptodumpster and within a couple of clicks of the mouse I'm slap bang in the middle of #seychelles #unicorns @huobi and @kucoin (#bitforex claims to have a presence in #seychelles at one or more times)

But today's post isn't about #bitforex it's about one of @huobi's amazing investment arm's called @ivyblocks which i call bullshit on.

Read 17 tweets

@intel_jakal

Sep 6

@Bitfinexed Remember how #ifinex managed to pay back all that money to #tether by Jan 2021.
This is how they did it. Ifinex provided a fiat facility (on paper) and acculumated real fiat from #FTX when they turned over the #tether.

@Bitfinexed Even the name of the agreement sounds like typical #danfriedberg word salad....Did Friedberg ever work with someone from #tether? oh yeah that's right he did

@Bitfinexed To illustrate how this might work.
If #ifinex charged 5% for the facility fee i.e 5% of #tether issued that was settled via the 'facility.
How many #tether would #FTX need to buy to allow #ifinex to repay the $550m to #tether within 3 months of the facility?

Read 5 tweets

@intel_jakal

Sep 6

@ParrotCapital @Annihil4tionGod @Cryptadamist @DesoGames @FuryReset85138 @Bitfinexed @ThegreatLambiny Chinese address is building 2 (building 3 is shown)

@ParrotCapital @Annihil4tionGod @Cryptadamist @DesoGames @FuryReset85138 @Bitfinexed @ThegreatLambiny caveat: I have had limited time to look at #bitforex and the following should be considered directional and of curious interest possible worth a follow up.

@ParrotCapital @Annihil4tionGod @Cryptadamist @DesoGames @FuryReset85138 @Bitfinexed @ThegreatLambiny these domains are connected by a common 'tag'.

Read 10 tweets

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