The former CEO of Binance, Changpeng “CZ” Zhao, has resigned from his position after pleading guilty to violating anti-money laundering laws. In a letter circulated on social media, CZ expressed his pride in his team’s work and assured that Binance will be fine, although restructuring may be on the horizon. He quoted Star Trek and […]
Binance, one of the largest cryptocurrency exchanges, and its CEO, Changpeng Zhao, have admitted to money laundering violations. This has resulted in a significant legal settlement of $4.3 billion and Zhao’s resignation. The company is facing accusations of enabling transactions for terrorist groups and users in sanctioned countries. The allegations include facilitating transactions with ransomware […]
Binance, the world’s largest cryptocurrency exchange, has announced a leadership transition. Richard Teng has been named the new CEO, taking over from Changpeng Zhao, who stepped down as part of a settlement with the US Justice Department. Zhao pleaded guilty to anti-money laundering violations and agreed to pay a $50 million fine. Teng, a veteran […]
Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao have agreed to pay a record-breaking corporate penalty of over $4 billion as part of a settlement with the US government. This landmark agreement signifies a significant step in the regulation of the cryptocurrency sector, as it is the first time a CEO of […]
Grayscale Investments recently met with the US Securities and Exchange Commission (SEC) to discuss their bid for a spot Bitcoin exchange-traded fund (ETF). The SEC issued a memo revealing the meeting, which was mandated by a court decision. The discussions focused on potential listing matters concerning Grayscale Bitcoin Trust’s shares. Grayscale has filed a new […]
Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), has filed a lawsuit against Kraken, one of the largest crypto exchanges. This move comes as no surprise, as Gensler has been known for his relentless fight against cryptocurrencies. The lawsuit alleges that Kraken sold several crypto tokens as unregistered securities. Interestingly, XRP, […]
Executives from Grayscale, a crypto asset manager, recently met with the Securities and Exchange Commission (SEC) to discuss their plans to convert their flagship Bitcoin trust into a spot Bitcoin exchange-traded fund (ETF). The meeting involved discussions about NYSE Arca’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust. Grayscale also […]
Binance, one of the largest cryptocurrency exchanges, has recently announced its resolution of investigations by the U.S. Department of Justice (DOJ) and other agencies. The company admitted to past wrongdoing and emphasized its commitment to compliance and organizational restructuring. Binance acknowledged its role in historical compliance violations but clarified that the U.S. agencies did not […]
Binance’s CEO, Changpeng Zhao, is reportedly stepping down from his position as the crypto exchange faces a $4.3 billion fine and criminal charges from the U.S. government. The charges accuse Binance of violating anti-money laundering laws and sanctions. Zhao is expected to plead guilty in federal court in Seattle, signaling a strategic move by Binance […]
Binance, one of the largest cryptocurrency exchanges, and its founder Changpeng Zhao, commonly known as CZ, have been facing a series of legal challenges in the United States. The government has filed indictments against Binance and Zhao, accusing them of violating US laws related to money laundering and terror financing. As part of a deal, […]
