Binance targeted growth in the U.S. market, especially among “VIP” users who drove the exchange’s trading volume and thus its revenue. These power users and their liquidity helped make Binance a juggernaut in crypto trading. According to the government, Binance’s executives “tracked and monitored” the exchange’s performance in the U.S. market and even touted their success. Source
Teng’s strength is regulation and compliance, an area that has been a primary focus for Binance for the last couple of years. Before heading up the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), he was chief regulatory officer of the Singapore Exchange (SGX) and spent 13 years with the Monetary Authority of Singapore (MAS). Source
A federal court has released the indictments against Binance and CEO Changpeng “CZ” Zhao filed under seal on Nov. 14, in which the United States government said it expected the cryptocurrency exchange and CZ to enter guilty pleas. In Nov. 14 filings in the U.S. District Court for the Western District of Washington at Seattle, the U.S. government said it requested to file the indictments against Binance and CZ under seal, as any potential plea deals with the exchange and CEO and any regulatory settlements were “likely to have a…
Binance is charged with three criminal charges by the U.S. DoJ, including conspiracy, unlicensed money transmission and sanctions violations, as CEO Changpeng Zhao is prepared to plead guilty. Binance, the world’s largest cryptocurrency exchange, has been hit with three major charges by the U.S. government. These charges include conspiracy, operating an unlicensed money transmitting business and violating the International Emergency Economic Powers Act. According to several sources, earlier today, Binance’s CEO, Changpeng Zhao, agreed to plead guilty to anti-money laundering charges in a Seattle federal court. Zhao is currently residing…
In a shocking turn of events, Binance CEO Changpeng Zhao has agreed to step down from the crypto exchange and has plead guilty to “violating US anti-money laundering requirements.” The news is currently being priced into the crypto market, leading to extreme volatility in Bitcoin and altcoins, plus a lot of chatter on social media. Let’s take a closer look at how the market and speculators are reacting so far. CZ To Step Down, Pleads Guilty, Company Charged $4B In Fines Earlier today, the US Department of Justice revealed it…
The DOJ announced it would hold a press conference on Tuesday to announce “significant cryptocurrency enforcement actions,” with Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco and CFTC Chairman Rostin Behnam. Source
The DOJ announced it would hold a press conference on Tuesday to announce “significant cryptocurrency enforcement actions,” with Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco and Commodity Futures Trading Commission Chairman Rostin Behnam. The person familiar with the matter said this would be tied to the DOJ’s long-running investigation into Binance. Source
The ranking provides a measure of the credibility and perceived influence of these personalities in the eyes of the crypto community. CoinLedger’s recent compilation of the ten most popular crypto entrepreneurs of 2023 showcases a mix of highly influential and controversial figures, with Binance CEO Changpeng ‘CZ’ Zhao securing the top spot. Binance CEO Changpeng ‘CZ’ Zhao: Leading the Charge The list, based on social media followings, provides a glimpse into the diverse personalities shaping the crypto landscape. Zhao emerges as the undisputed leader of the pack, securing the first…
The latest price moves in bitcoin [BTC] and crypto markets in context for Nov. 21, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Crypto community members on X (formerly Twitter) have turned their focus onto a $3.9 billion Tether (USDT) transaction between Binance wallets that surfaced on social media, following reports claiming that the United States Justice Department is negotiating a $4 billion settlement with the company. On Nov. 20, a Bloomberg report citing anonymous sources said that the Justice Department is negotiating an agreement with crypto exchange Binance requiring the company to pay $4 billion in fines. Once paid, the firm will be allowed to operate in the U.S. while complying with…