Tag: Binance

Report Claims U.S. Prosecutors Investigate Hedge Funds in Connection with Binance Dealings  – Bitcoin News

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Federal prosecutors are reportedly investigating U.S.-based hedge funds that have dealt with the cryptocurrency exchange Binance, according to two people familiar with the matter. The hedge funds were allegedly issued subpoenas by the U.S. attorney’s office for the Western District of Washington. Sources Say U.S. Department of Justice Probes American Hedge Funds in Cryptocurrency Investigation Following a Reuters report in mid-December 2022 that said Binance is being probed by the U.S. Department of Justice, a report from The Washington Post claims American hedge funds are being investigated as part of…

Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds: Report

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United States prosecutors are investigating hedge funds’ relationships with cryptocurrency exchange Binance for money-laundering violations. According to anonymous sources cited by the Washington Post, the U.S. attorney’s office for the Western District of Washington in Seattle subpoenaed investment firms to provide records of communications with Binance in the past months. The allegedly subpoenas do not mean prosecutors are bringing charges against the crypto exchange or hedge funds, as authorities are still evaluating evidence and a possible settlement with Binance, according to legal specialists. Binance did not immediately respond to Cointelegraph’s…

U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe: Report

Recently, Binance has made efforts to increase its commitment to compliance, growing its security and compliance staff by 500% in 2022. Additionally, last fall the company assembled a global advisory board chaired by Max Baucus, a former Democratic senator from Montana. Meanwhile, the exchange seems eager to improve its relations with the U.S. government, recently becoming active in crypto lobbying in Washington, DC. Source

Binance joins association to address compliance with global sanctions

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Binance has become one of the first crypto firms to join the Association of Certified Sanctions Specialists, ACSS, in an effort to stay in compliance with global sanctions. In a Jan. 6 announcement, Binance said its team of sanctions compliance personnel would be undergoing training as part of the certification process at ACSS. According to the association’s website, the group offered an examination addressing “knowledge and skills common to all sanctions professionals in varied employment settings.” “The blockchain industry is still in its early years, and it’s our priority to…

Binance Acquisition Moves See BNB Riding A Wave of Enthusiasm

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Crypto exchange Binance and its CEO Changpeng Zhao are making headlines once again as news of the company’s acquisition moves hit the industry. According to recent news, Binance acquired a 41% stake on Korean crypto exchange Gopax. The deal was originally scheduled to be revealed last year, and it involved Binance buying the stock holding from Lee Jun-hang, Gopax’s top stakeholder. BNB, Binance’s native token, took the news to heart with a weekly gain of 5.5%. As of this writing, BNB is trading at $255, data from Coingecko shows. Binance…

SEC Intervenes in Binance US Acquisition of Bankrupt Crypto Lender Voyager Digital’s Assets – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has intervened in the asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital. The securities regulator explained that it is “formally investigating whether the debtors and others violated the anti-fraud and other provisions of the federal securities laws.” SEC Intervenes in Binance-Voyager Asset Purchase Deal The U.S. Securities and Exchange Commission (SEC) filed a “limited objection” to the asset purchase agreement between bankrupt crypto firm Voyager Digital and the U.S. arm of crypto exchange Binance on Wednesday. The court filing…

Bankman-Fried’s Alameda Joins Chorus Objecting to Binance Voyager Buy

The filing, made by Andrew G. Dietderich of Sullivan & Cromwell, the law firm representing the FTX group, said that Alameda is a “substantial shareholder” of Voyager. Under a rescue plan made in June, Alameda offered the collapsing Voyager $200 million and 15,000 bitcoin (BTC), of which $75 million in stablecoins still outstanding as of the date of bankruptcy, the filing said. Source

Crypto Exchange Binance Controlled 92% of Bitcoin Spot Trading Volume at End of 2022: Arcane Research

Chatter about the solvency of Binance increased significantly after the collapse of FTX, and the exchange did suffer some outflows for a short period, though things have stabilized since. A market share this high could become problematic for the industry if Binance were to encounter any issues, whether regulatory or mistrust from users. Source ArcaneBinanceBitcoinControlledCryptoExchangeResearchSpotTradingVolume CryptoX Portal