Binance founder and former CEO Changpeng Zhao (CZ) was sentenced to four months in prison last November after pleading guilty. Zhao was also required to pay a $50 million penalty. According to WSJ.com, Zhao told the court he was sorry for his behavior and regretted… Read More
The Commodity Futures Trading Commission (CFTC) states that the court deciding the case against Binance and its founder Changpeng “CZ” Zhao has formalized the settlement of a $150 million civil monetary penalty personally against Zhao, and Binance to disgorge $1.35 billion of “ill-gotten” transaction fees… Read More
Stefan Rust, CEO of independent economic data aggregator Truflation, says that the resignation of Binance founder Changpeng Zhao or “CZ” as part of the exchange’s settlement with US authorities marks a “sad” day that should “serve as a clarion call for the build-out of decentralized… Read More
Former CEO and Binance founder Changpeng Zhao‘s (CZ) departure from the firm will trigger some short-term volatility in the cryptocurrency market, but crypto will “continue to thrive as more institutional money pours in,” predicts the CEO of an independent financial advisory, asset management and fintech… Read More
There were several notable digital asset and blockchain-focused developments that were announced this past week, including Republic choosing Avalanche for its profit-sharing investment Note. This week also saw crypto exchange Kraken being sued by the US Securities and Exchange Commission (SEC) for allegedly failing to… Read More
Certain executives working at the US division of Binance are reportedly leaving at a time when the crypto firm is struggling with heightened regulatory scrutiny, the WSJ reported this past Thursday, citing sources familiar with the issue. Krishna Juvvadi, head of legal, and Sidney Majalya,… Read More
In response to the devastation caused by the recent earthquake in Morocco, Binance Charity will airdrop up to $3 million in BNB to Binance users “identified as living in the areas affected by the tragedy.” Identification of the users will be “based on Proof of… Read More
Travis Kling, a former L/S Equities Portfolio Manager that fell down the “Crypto rabbit hole” who’s now running the Ikigai fund, notes that as summer officially draws to a close, you may have been “away from the screens over the last few months.” Travis has… Read More
A recent report has looked into just how quickly Binance revenues may be declining. Available trading data provides key insights regarding the status of Binance’s crypto-focused operations and its BNB digital token. As covered earlier this month, the WSJ had released an extensive report which… Read More
Binance, which claims to be the world’s largest virtual currency exchange, was expected to leave China behind when the nation officially made cryptocurrency trading illegal back in 2021. Two years later, clients have reported traded $90 billion worth of crypto-focused assets in China during a… Read More
Binance, which is being sued by US regulators for a wide range of issues, is pleased to announce the appointment of their own Eleanor Hughes as Binance’s General Counsel. In her new role, Eleanor will “oversee the company’s global legal affairs alongside a team of… Read More
Earlier today, the SEC revealed that it has received court approval for “emergency relief” from Binance and affiliated entities to require funds impacting US investors to be maintained in the US. The order states that funds must be repatriated and held for the benefit of… Read More
Long anticipated and finally here, the Securities and Exchange Commission (SEC) has filed 13 charges against Binance and its founder and CEO, Changpeng Zhao. Binance is the largest crypto exchange in the world, garnering around 60% of crypto trading. Zhao, who goes by CZ, is… Read More
Senators Elizabeth Warren, Chris Van Hollen, and Roger Marshall have joined in sending a letter to Changpeng “CZ” Zhou, demanding information pertaining to the operations of Binance, the crypto exchange he founded. The three Senators request that CZ provide “information regarding growing concerns over the finances,… Read More
Binance, which claims to be the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has invested in GOPAX, a South Korean cryptocurrency exchange licensed “to provide fiat-to-crypto services to customers, as part of its Industry Recovery Initiative (IRI).” In November 2022, GOPAX halted “the withdrawal… Read More
Mazars, an international accounting firm, has pulled its proof of reserves report on Binance, according to multiple reports. Mazars apparently has halted all work on crypto platforms. Mazars has yet to issue a statement on its decision. Most recently, Mazars posted a Proof of Reserves… Read More
The Senate Banking Committee hearing on FTX, taking place today, has extended the discourse on the collapse of what was once one of the largest crypto exchanges in operation. While not involving any current FTX employees, testimony and perspective are being provided by four different… Read More
The rising concern of more enforcement actions targeting crypto exchanges is taking a toll on the world’s largest centralized operation Binance, according to a report by Reuters. Citing data provided by Nansen, it is being claimed that Binance has experienced $1.9 billion in withdrawals in… Read More
Federal prosecutors are debating whether or not to file charges against the world’s largest crypto exchange – Binance, according to a report by Reuters. The US Department of Justice is undecided as to if they should pursue criminal charges against Binance, with an ongoing investigation… Read More
For a brief moment in time, Chengpeng “CZ” Zhou, founder and CEO of Binance, and Sam Bankman-Fried founder of FTX and now disgraced former CEO, appeared to be frenemies. CZ indicated he would bail out FTX as the bank-run type event destroyed all liquidity at… Read More
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