SEC says billions in customer funds were directed to Zhao’s firm Merit Peak via a holding company called Key Vision Development Limited. Source
Binance Redirected $12B to Firms Controlled by CEO Changpeng Zhao, SEC Says
Tag: CEO
Republican crypto bill a ‘10x improvement’ on all others: Messari CEO
Messari CEO Ryan Selkis has praised a newly proposed Republican crypto bill, commenting it is a “10x improvement” on all other crypto bills introduced to the United States Congress so far. The “Digital Asset Market Structure” (DAMS) bill, introduced on June 1, proposes to establish a framework to fill the gaps in the regulatory process between the U.S. Commodity Futures Trading Commission (CFTC) and Securities Exchange Commission (SEC) on activities related to crypto-assets. Speaking at a Coinbase-hosted event on Twitter Spaces on June 7, Selkis explained that U.S. Representatives Patrick…
Brian Armstrong, CEO of Coinbase, talks about SEC compliance
In an interview with Bloomberg, Coinbase CEO Brian Armstrong candidly outlined the challenges and complexities his company has faced in its compliance with regulations in the U.S. According to industry insiders, in the world of cryptocurrency, it is a task to balance the entrepreneurial spirit with the governing authorities. In a recent interview with Bloomberg, Brian Armstrong, CEO of Coinbase, highlighted his journey navigating this complex terrain while striving to get Coinbase, one of the most popular cryptocurrency exchanges, to comply with the U.S. SEC. Armstrong’s pioneering role in the…
Coinbase (COIN) CEO Brian Armstrong Says Not Shutting Down Staking Service
Armstrong insisted Coinbase would not be at risk of a bank-run-like rush of withdrawals similar to those some of its peers have suffered. “All the funds are backed one-to-one, and you don’t have to take our word for it,” Armstrong said. “As a public company, we have auditors … who have gone in and verified all that.” Source
US District Court issues summons for Binance CEO Changpeng Zhao over SEC action
The United States District Court in Washington, D.C. issued a summons for Binance CEO Changpeng Zhao on June 7, just two days after the Securities and Exchange Commission (SEC) formally sued the exchange for alleged unregistered securities operations. “A lawsuit has been filed against you,” the summons read. NEW: @binance CEO @cz_binance has been order to respond/answer the summons of a U.S. District Court along with the other entities named in the case. He does not have to appear in person but respond within the time frame below https://t.co/UipLm9TRye — Eleanor Terrett…
HSBC CEO Promises Silicon Valley Bank UK Will Not Suspend Focus on Startups amid Expansion
HSBC CEO has doused fears that Silicon Valley Bank UK will suspend or not adequately focus plans on helping startups. The CEO of HSBC UK has said that Silicon Valley Bank UK will continue its regular business of serving startups regardless of new ownership. Ian Stuart noted that Silicon Valley Bank will maintain its processes and business without disruption. At the Money 20/20 fintech conference in Amsterdam, Stuart assured CNBC’s Arjun Kharpal of protecting Silicon Valley Bank. He said: “We are going to keep it ringfenced within our own ringfenced…
Former BitMEX CEO Arthur Hayes Remains Bullish on Bitcoin (BTC)
Bitcoin’s strong bounce back despite the SEC lawsuits has made analysts optimist about the beginning of the next bull run. After facing strong selling pressure earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) has given a strong bounceback today moving closer to $27,000. As of press time, BTC is trading 3.2% up at a price of $26,603 and a market cap of $515 billion. The recent bounce back has created optimism among Bitcoin enthusiasts with analysts turning bullish on the crypto once again. Former BitMEX CEO Arthur Hayes recently…
Ethereum Is Security, Former Twitter CEO Jack Dorsey Says
There are ongoing efforts to classify Ethereum. As of now, a final decision is yet to be reached regarding whether it should be considered a security or not. Considering the arguments, predicting the final outcome is challenging. With the recent noise about cryptocurrency regulation and events such as crypto exchanges being sued for offering unregistered securities, there have been varying views from experts and high-profile individuals about the state of some specific cryptocurrencies. One of them is a recent comment by Jack Dorsey, the former Twitter CEO, arguing that Ethereum…
Former Twitter CEO sparks debate by labeling ethereum as security
In a recent social media skirmish, former Twitter CEO and Bitcoin advocate Jack Dorsey sparked a heated debate by affirming that Ethereum (ETH) could be considered a security. The statement from Dorsey immediately drew attention and triggered a Twitter war with Udi Wertheimer, a Bitcoin Ordinals developer, criticizing Dorsey as a “clown.” In response, Dorsey fired back, challenging Wertheimer to educate him by stating, “ETH is not a security? Teach me, wizard.” Wertheimer countered by sharing an old video of Gary Gensler, Chair of the US Securities Exchange Commission (SEC),…
New Twitter CEO Linda Yaccarino Announces Her First Day at Work before Schedule
Yaccarino has indicated that free speech is priceless even though advertisers abandon Twitter for other platforms. After holding on to the top executive helm at Twitter Inc for more than seven months, tech billionaire Elon Musk officially handed over the mantles to Linda Yaccarino, a former global advertising and partnerships chairperson at NBCUniversal Media on Tuesday. However, according to her LinkedIn profile, Yaccarino states that she has been working at Twitter as CEO for the past two months since May 2023. The 59-year-old will be working alongside Musk who currently…