Former Binance CEO Changpeng Zhao (CZ) has expressed his gratitude to the crypto community for their support following his four-month U.S. prison sentence for pleading guilty to money laundering charges. “I will remain a passive investor (and holder) in crypto. Our industry has entered a new phase. Compliance is super important,” Zhao emphasized. CZ: Binance […] Source CryptoX Portal
Shiba Inu (SHIB), the meme coin with a loyal following, experienced a whirlwind of activity in the Japanese market this week. The catalyst? The listing of a new SHIB/JPY trading pair on Binance Japan, a move that initially sent the price soaring. Shiba Inu Soars On Binance Listing, But Briefly On April 30th, Binance Japan announced the addition of the SHIB/JPY pair to its spot trading platform. This move provided Japanese investors with a convenient way to trade SHIB directly with their yen, eliminating the need for currency conversions. The…
Data shows Binance’s NFT marketplace wasn’t really a popular destination for Ordinals anyway — with traders now fixated on Runes instead. Binance’s decision to scrap support for Ordinals in April raised eyebrows among Bitcoin enthusiasts. The embattled exchange, which has been fighting legal battles on multiple fronts in recent months, said the move was designed to “streamline” its product offering. It went on to warn anyone who holds Bitcoin NFTs to move them somewhere else so they could continue to be eligible for airdrops. This marks quite a sudden U-turn…
On Tuesday, April 30, 2024, Changpeng Zhao (CZ), formerly the CEO of Binance, was sentenced in a Seattle courtroom for his compliance failures at the cryptocurrency exchange. The sentencing was first covered by Nikhilesh De and Danny Nelson of Cryptox, who reported directly from the courthouse. Per Nikhilesh De’s X thread, the proceedings began with […] Source CryptoX Portal
The former crypto executive pleaded guilty to one count of violating the Bank Secrecy Act last November, a charge which might normally carry up to 10 years in prison. Because of his guilty plea and his cooperation, the sentencing guidelines calculation for his sentence would actually fall to about 18 months. A presentence report filed by the court’s Probation Office recommended he spend just five months. Source
More than 160 of Changpeng “CZ” Zhao’s loved ones, friends and colleagues have written to a Washington judge ahead of the Binance founder and former CEO’s sentencing tomorrow, asking for leniency and painting a picture of Zhao as a devoted father and friend, and a “geeky” tech nerd who shuns luxury purchases despite his immense personal wealth. Source
Changpeng Zhao, the former CEO of Binance, has publicly apologized for his past decisions and accepted full responsibility for his actions. This comes as U.S. prosecutors are seeking a 36-month prison sentence for Zhao in connection with compliance failures at the cryptocurrency exchange. Changpeng Zhao Issues Apology as Sentencing Nears In a letter to the […] Source CryptoX Portal
However, “it’s noteworthy that the recent circular did not mention any indigenous crypto exchanges, likely because many Nigerian crypto companies, such as Flincap, have been actively pursuing the required licenses,” said Nathaniel Luz, CEO of Flincap, a platform for OTC crypto exchanges. Source
“In part because Zhao failed to implement an effective AML program at Binance, illicit actors used Binance’s exchange in various ways, including operating mixing services that hid the source and ownership of cryptocurrency; transacting in illicit proceeds from ransomware attacks; and moving proceeds of darknet market transactions, exchange hacks, and various internet-related scams,” the filing said, pointing to fund movements from darknet markets and crypto mixers. Source
The Securities and Exchange Commission (SEC) of the Philippines has requested that tech giants Apple and Google remove Binance apps from their respective app stores. The SEC chairman stated that the blockade on Binance, coupled with the removal of its app, curbs the further spread of its unlawful activities in the country. Binance Apps Pose […] Source CryptoX Portal