The trustee of bankrupt Mt. Gox, one of the pioneer exchanges in the crypto industry, is set to begin repaying the firm’s creditors in cash. This comes nearly a decade after the exchange suffered a catastrophic hack that resulted in the loss of 850,000 Bitcoin. The repayment process will start within the 2023 calendar year […]
Binance, the world’s largest cryptocurrency exchange, is undergoing significant changes following a settlement with the US Securities and Exchange Commission (SEC). As part of the settlement, Binance CEO Changpeng Zhao has resigned and pleaded guilty to charges related to violating the Bank Secrecy Act. The penalty for these charges amounts to a staggering $4.3 billion, […]
Amidst speculation and uncertainty surrounding the departure of Changpeng “CZ” Zhao as CEO of Binance, the new CEO Richard Teng has taken to social media to reassure investors. Following CZ’s announcement, critics of Binance expressed concerns about the source of funds for legal proceedings totaling over $4 billion and discrepancies in the exchange’s proof of […]
The recent events involving Binance, a popular cryptocurrency exchange, and U.S. federal agencies have had a significant impact on the crypto market. Binance has agreed to a $4 billion settlement with the authorities after violating finance-related laws. As a result, the market saw a decline in total market cap, with over $200 million being wiped […]
Binance, one of the largest cryptocurrency exchanges, has been hit with a massive exodus of Bitcoin following the CEO’s money laundering charges. Customers of Binance have reacted to the news by withdrawing a staggering $288 million worth of Bitcoin from the exchange. This significant movement of funds highlights the concern and unease among users in […]
Binance, the world’s largest cryptocurrency exchange, is taking significant steps in response to a groundbreaking settlement with the US Securities and Exchange Commission (SEC). The exchange has announced the delisting of 10 major trading pairs, including cryptocurrencies such as Aptos (APT), Axie Infinity (AXS), and Filecoin (FIL).In a surprising turn of events, Binance founder Changpeng […]
Cryptocurrency lender Genesis Global Capital has filed a lawsuit against cryptocurrency exchange Gemini in an attempt to recover $689 million in privileged payments. According to court documents, Gemini allegedly benefited from these payments and is still holding onto the property that Genesis is trying to reclaim. Genesis is seeking remedies under the US Bankruptcy Code […]
Creditors of the defunct Bitcoin exchange, Mt. Gox, have received an email indicating that repayments may soon be on the way. The trustee overseeing the exchange’s estate, Nobuaki Kobayashi, has started sending out emails to rehabilitation creditors, stating that the first repayments will be made in cash in 2023. The repayments are expected to continue […]
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 […]
