The CFTC’s lawsuit against Binance and CEO Changpeng Zhao noted at least three U.S.-based quantitative firms that were active on the exchange. Source
Chicago-Based Radix Trading Is One of Three Quant Firms in Binance Suit: WSJ
Tag: Binance
Bitcoin adoption up despite Binance FUD
Glassnode data has revealed some intriguing statistics that indicate new trends in bitcoin (BTC) adoption and holders’ behavior. According to Glassnode data, the number of addresses holding at least 0.1 bitcoin just reached an all-time high. This milestone suggests a significant increase in the adoption of bitcoin, as more individuals and institutions become more comfortable with the idea of owning and using the digital currency. BTC holders are on the rise The growth in addresses with 0.1 or more bitcoin is a strong indicator that the cryptocurrency is becoming more…
Regulator’s Lawsuit Against Binance ‘Is a Big Deal’
“This complaint basically says that Binance and Zhao himself deliberately and systematically cultivated U.S. business, helped U.S. persons get around those restrictions and even did things internally to try to hide how much U.S. business they were doing,” said Massad, also director of the Digital Assets Policy Project. Source BigBinanceDealLawsuitRegulators CryptoX Portal
How Bad Is the CFTC’s Binance Lawsuit?
Instead, this is likely just another significant blow to crypto’s reputation. Evidence suggests there is at least one informant at Binance, who passed private communications and self-destructing Signal messages to the commodities watchdog. Those messages paint a portrait of Binance – with Zhao at the helm – as a business that would sacrifice rules for the sake of growth. Large traders were privileged with faster settlement connections and lower fees – putting them above retail investors. And, if the CFTC is to be believed, Binance traded against its customers, which…
Is Binance in hot water? CZ sued by the CFTC — Watch The Market Report
This week on The Market Report, our beloved host, Joe Hall, and insightful expert Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to breakdown everything that is happening between the United States Commodities Futures and Trading Commission, Binance and Changpeng “CZ” Zhao. Breaking: Binance and CZ sued by CFTC over US regulatory violations The U.S. CFTC has filed suit against Binance and CEO CZ for trading violations, according to a Bloomberg report. According to the CFTC, Binance failed to meet its regulatory obligations by…
Binance Case is Clear Evasion of Law Says CFTC Chair Behnam
Court documents filed on Monday contained internal chats from Binance, including one from Samuel Lim, the exchange’s chief compliance officer through January 2022. “On the surface we cannot be seen to have U.S. users but in reality we should get them through other creative means,” Lim allegedly said. Source BehnamBinanceCaseCFTCChairClearEvasionLaw CryptoX Portal
Binance Case Is Clear Evasion of Law, Says CFTC Chair Behnam
Court documents filed on Monday contained internal chats from Binance, including one from Samuel Lim, the exchange’s chief compliance officer through January 2022. “On the surface we cannot be seen to have U.S. users but in reality we should get them through other creative means,” Lim allegedly said. Source
BTC Moves Below $27,000, Following CFTC Suit Against Binance – Market Updates Bitcoin News
Bitcoin moved below $27,000 during Tuesday’s session, as the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance. The suit claims that Binance knowingly offered unregistered crypto products to U.S. customers. Ethereum was also lower on the news, briefly falling below $1,700. Bitcoin Bitcoin (BTC) fell below $27,000 in today’s session, as markets reacted to the news that the CFTC had filed a lawsuit against Binance. BTC/USD fell to an intraday low of $26,606.69 on the news, which comes a day after trading at a peak of $27,979.07.…
Bitcoin Drops on CFTC’s Suit vs. Binance
Bitcoin sank below $27,000 following news of the lawsuit, dropping to its lowest level since March 17. The world’s largest cryptocurrency by market cap is down 5% in the past 24 hours to about $26,700. Binance coin (BNB) declined by 5%. Matteo Bottacini, a trader at Crypto Finance AG, wrote in a morning note that investors are taking long positions in ether and other altcoins and short positions in bitcoin. “My bias is that upside for BTC looks now limited to the $30Ks while ETH and most of the altcoins…
Binance CEO CZ Issues Response to CFTC Complaint, Disagrees with Several Issues Alleged
CZ recently rebuffed the CFTC complaint calling for a permanent US injunction against Binance and its executives. Binance CEO Changpeng ‘CZ’ Zhao has responded to the Commodity Futures Trading Commission (CFTC) complaint against the exchange. Responding to the federal agency’s call for a US injunction against Binance, CZ raised several issues alleged in the complaint. CZ also said that the CFTC filed the “unexpected and disappointing civil” complaint despite Binance’s prior cooperation with the agency. Pointing out the exchange’s two-year cooperation with the CFTC, Zhao addressed a few key points raised by the government agency. The CFTC’s…