Tag: Binance

Hinmann documents unsealed in Ripple vs. SEC case, Binance faces more regulatory headwinds

During the past week, Coinbase and Binance encountered challenges due to increased regulatory scrutiny, coinciding with bearish market conditions following the US Securities and Exchange Commission’s (SEC) charges. Binance faced additional regulatory obstacles on a global scale, while its US-based counterpart, Binance.US, successfully settled with the SEC, preventing a complete freeze of its assets. The SEC also remained in the spotlight as a bill to remove chairperson Gary Gensler advanced through Congress. Significant developments also occurred in the SEC vs. Ripple case, as previously undisclosed internal emails about the Bill…

Binance CEO responds to resolution of SEC’s request for emergency relief

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance CEO Changpeng “CZ” Zhao expressed pleasure at the amicable resolution of a recent emergency relief request from the U.S. Securities and Exchange Commission (SEC) that would have resulted in the freezing of client funds. Binance.US and SEC agree on consent order CZ highlighted the company’s commitment to ongoing operations despite the difficulties and regulatory barriers faced by Binance recently. He emphasized that user funds are safe and secure across all Binance-related services and will remain…

Binance sends cease and desist notice to fraudulent Nigerian entity

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Binance CEO Changpeng Zhao has announced that Binance has officially issued a cease and desist notice to the fraudulent entity known as Binance Nigeria Limited.  On Sunday, June 18, Zhao took to Twitter to make the announcement. On June 9, the Nigerian Securities and Exchange Commission (SEC) released a circular stating the illegality of Binance Nigeria Limited in the country. According to reports, a Binance spokesperson responded that the entity mentioned in the circular is not affiliated with the company. The spokesperson expressed the company’s intention to seek clarity from the Nigerian SEC…

Binance CEO CZ deems SEC’s request for emergency relief unwarranted

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Changpeng ‘CZ’ Zhao, the CEO of Binance, expressed his happiness and sense of relief as the prolonged dispute with the United States Securities and Exchange Commission (SEC) has been successfully resolved. The SEC’s ongoing scrutiny had created a tense and uncertain period for the company, making the resolution a significant milestone. Nonetheless, as the regulatory uncertainty begins to fade, CZ can now find solace and concentrate on Binance’s future. In a tweet, the veteran crypto entrepreneur emphasized that the SEC’s emergency relief request was unnecessary, affirming that the mutually agreed-upon…

Binance partners with The Weeknd, to introduce metaverse experience

Despite regulatory hurdles from the SEC, Binance is forging ahead with a new initiative—a digital metaverse tied to The Weeknd’s “After Hours Til Dawn” tour. Binance, currently facing legal action from the SEC, has announced plans to launch a new digital metaverse focused on entertainment. The project is a collaboration with Canadian musician The Weeknd, who is also embarking on a tour called “After Hours Til Dawn”. The metaverse project has been in development since June 2022. From 10 am ET, regardless of whether they’ve bought concert tickets, fans, and…

Judge Signs Off on Binance, SEC Deal to Move All U.S. Customer Funds, Wallet Keys Back Onshore in Lieu of Restraining Order

Judge Jackson told the parties that it would be better for them to come to an agreement on a proposed stipulation than to have her craft a restraining order, which would come with a two-week time limit. Two weeks would give insufficient time to prepare, given the more than 4,000 pages of exhibits the parties have already filed, she said during a hearing earlier this week. Source

Binance delists PEPE from its loan product 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance has announced the delisting of the PEPE meme coin from its Flexible Loan product. The company has advised users to repay all outstanding PEPE loans before June 26 to avoid potential liquidation. Binance, the world’s largest bitcoin (BTC) trading venue and leading blockchain ecosystem, has relinquished support for PEPE as a borrowable asset in its Flexible Loan product. The exchange announced that all outstanding PEPE loan positions of Binance’s Flexible Loan market participants will be…

Binance to exit Netherlands after failing to obtain registration

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto exchange giant Binance announced that it would no longer service users in the Netherlands after the company failed to get a license from Dutch regulators.  Binance has notified its Dutch customers about the company’s plan to leave the Netherlands. According to an announcement, existing users will be allowed to use only the withdrawal function on the platform from July 17, stating that further trades, deposits, and purchases will be disabled.  “While Binance is disappointed that…

Bitcoin price eyes $26K ‘acceleration’ zone as Binance fears fade

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Bitcoin (BTC) headed toward a “crucial area” after the June 16 Wall Street open as a recovery from three-month lows continued. BTC/USD 1-hour chart Bitcoin reinforces rebound from multi-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $26,000 on Bitstamp. BTC price built on an overnight rebound from its lowest levels since early March amid ongoing regulatory and macroeconomic pressures. For Michaël van de Poppe, founder and CEO of trading firm Eight, $26,000 represented a key level for bulls to flip next. “Long weekend is coming up…