The U.S. Department of Justice has settled charges against crypto exchange giant Binance for $4.3 billion, bringing investigations spanning back to 2018 to a close. The DOJ confirmed the settlement in a live video announcement on Tuesday, marking one of the largest enforcement actions ever closed in a crypto-related case. The company pled guilty to...Read More
Binance founder Changpeng Zhao (CZ) will plead guilty to floundering anti-money laundering (AML) provisions as part of a settlement deal with the U.S. Department of Justice (DOJ), according to a Tuesday report from the Wall Street Journal (WSJ). He has also agreed to step down as CEO of his exchange and pay a $50 million...Read More
The U.S. Department of Justice (DOJ) has requested that crypto exchange giant Binance pay $4 billion as a resolution to its lengthy investigation of the company. Such negotiations include the possibility that Binance CEO Changpeng Zhao (CZ) is charged with crimes possibly including money laundering, bank fraud, and sanctions violations. According to Bloomberg, an announcement...Read More
The crypto space is constantly evolving, with new ideas and projects emerging now and then. The steady growth is attracting more people and, in turn, giving top names in the industry more influence. Crypto tax software firm CoinLedger has compiled a list of the most popular personalities in the digital asset industry using their respective...Read More
The popular pro-XRP lawyer, John E Deaton, recently quoted an interview with Kevin O’Leary, a.k.a. Mr. Wonderful, in which the millionaire took another jab at Binance, CZ, and FTX, asking why he continues to be so obsessed, especially with Changpeng Zhao. Recall that O’Leary was paid approximately $15 million in various forms to promote FTX...Read More
In the fast-paced world of cryptocurrencies, Bitcoin halving events are significant milestones that grab the attention of investors, traders, and enthusiasts worldwide, leading to speculation and anticipation among the community. Changpeng Zhao recently shared his thoughts and observations on the dynamics and sentiments surrounding Bitcoin halvings based on his experiences during the past three events....Read More
With jury selection finished, FTX co-founder Sam Bankman-Fried’s (SBF)’s trial is officially underway, with prosecutors and defense lawyers delivering their opening statements on Wednesday. During his remarks, SBF’s lawyer Mark Cohen asserted that the former exchange tycoon “didn’t defraud anyone,” instead pointing the finger at Binance CEO Changpeng Zhao (CZ) for causing a “run on...Read More
According to Michael Lewis’ book “Going Infinite,” Binance CEO Changpeng “CZ” Zhao turned down an offer in March 2019 from former FTX CEO Sam Bankman-Fried to invest $40 million in creating a cryptocurrency futures exchange. Binance, originally a spot crypto exchange, decided to develop a futures exchange internally instead of accepting an offer from Bankman-Fried....Read More
Marina Parthuisot, Binance’s French legal director, stated that due to the upcoming MiCA bill that has not yet approved any stablecoins, Binance is planning to delist all such assets in Europe on June 30, 2024. However, Changpeng Zhao (CZ), the CEO of Binance, has responded to this statement on X, saying that it may have...Read More
On Sept. 21, the company submitted a 60-page petition asserting that the financial regulator overstepped its authority when it sued them. The SEC sued Binance in June, alleging a range of misdemeanors, including mishandling customer funds, misleading investors and regulators, and violating securities rules. Binance and CZ have accused the SEC of “attempting to impose...Read More
Binance CEO Changpeng ‘CZ’ Zhao has refuted a recent report alleging that he received a $250 million loan from BAM Management, the company that serves as the holding entity for Binance.US. The development comes amidst Binance’s struggles with plunging trading volume as the world’s largest cryptocurrency exchange faces mounting lawsuits and increased regulatory scrutiny. CZ...Read More
It is safe to say that Binance US – the American subsidiary of the world’s leading cryptocurrency exchange – has passed through turbulent times, witnessing considerable customer withdrawals and diminished trading volume in the past several months. According to the market data provider Kaiko, weekly trade volumes on the platform have recently plunged to a...Read More
Binance CEO Changpeng Zhao (CZ) published a tweet re-encouraging followers to “ignore FUD” – this time surrounding rotating management at his exchange’s U.S. subsidiary, Binance.US. The statement follows three executive departures from the exchange this week, mimicking earlier, similar behavior from top brass at the international exchange. In his tweet, CZ noted speculation regarding recent...Read More
With about two weeks to go until the start of Sam Bankman-Fried’s trial, yet another trove of documents replete with everything from his early life to unverifiable attempts at exonerating himself has surfaced. Lots of Words, Little Substance Sticking to the tone of his lengthy – yet ultimately trite – substack posts and interactions with...Read More
CertiK has revealed transactions connecting the breaches at Atomic Wallet, Alphapo, CoinsPaid, Stake.com, and CoinEx that show Lazarus Group’s involvement in these exploits. This comes while the digital community is reeling from various cyber attacks that have affected several major Web3 entities. On-Chain Connections The infamous Lazarus Group, supported by North Korea, is still causing...Read More
A hedge fund manager whose firm was ravaged by FTX’s November collapse is now warning of a second-coming “implosion” at Binance. On Tuesday, Ikigai Asset Management founder Travis Kling published a historical timeline outlining a history of “negative events” at Binance since December 2022, attracting attention from some of the exchange’s top brass. How Binance...Read More
Changpeng Zhao – CEO of Binance – dismissed the speculation that the popular TV personality Jim Cramer declared his approval of the largest cryptocurrency exchange. Some crypto proponents joked that this is actually good news for the trading venue, considering Cramer’s controversial statements and predictions in the past. The host of CNBC’s “Mad Money” has...Read More
On Aug. 2, Changpeng “CZ” Zhao said he wanted to “share this (luckily) unsuccessful, but very clever and close scam incident from yesterday. It saved $20 million, he said before adding, “hope it may also save you one day.” Scammers are becoming more sophisticated, and their latest weapon is the generation of addresses with the...Read More
The Chief Executive Officer of Binance – Changpeng Zhao (CZ) – said one reason why his company recently introduced the stablecoin FDUSD is the terminated partnership with Paxos. While the two entities teamed up in 2019 to launch the USD-denominated BUSD, the New York state regulators told Paxos to stop minting new tokens earlier this...Read More
The world’s largest cryptocurrency exchange – Binance – will purportedly launch services on its new platform in Japan next month. The firm pulled out of the Land of the Rising Sun in 2018 after having a major dispute with the local regulators. Binance’s CEO – Changpeng Zhao (CZ) – has supposedly confirmed the news in a...Read More
Binance’s legal team filed a motion in an Illinois district court yesterday evening, notifying the judge presiding over the case that two separate requests to dismiss charges against Binance and CZ will be served on the 27th of July. Joint Motion, Along With One for Former Compliance Officer Although a single joint motion will be...Read More
The world’s largest cryptocurrency exchange – Binance – completed its 24th quarterly burn of its native token, burning 1,991,854 BNB. The development, carried out every three months, should help the company reduce the overall supply of the coin to 100 million. Binance informed that its most recent BNB burn equaled approximately $484 million. The process also...Read More
Several traditional media outlets reported recently that Binance, the world’s largest crypto exchange, has or will have to dismiss thousands of employees in the wake of its legal battle with US regulators. The company’s CEO confirmed the layoffs but disagreed with the “FUD” reported numbers of terminated staff members. CNBC, WSJ Reports Citing a person...Read More
Binance, the world’s largest cryptocurrency exchange, is celebrating its sixth anniversary today. In commemoration of the feat, the exchange’s founder and CEO, Changpeng Zhao (CZ), has reminisced on several events since the platform’s launch. In a statement sent to CryptoPotato, the CEO revealed that Binance was launched in 2017 with $15 million worth of digital...Read More
Changpeng Zhao – CEO of crypto exchange Binance – believes his company has formed “a tight team” partly due to the “Fear, Uncertainty, Doubt” (FUD) that surrounds it on a regular basis. The firm has been coping with regulatory issues with the US Securities and Exchange Commission (SEC), the Department of Justice (DOJ), and other...Read More
Changpeng Zhao (CZ), the CEO and founder of leading crypto exchange Binance, announced that his company’s users, assets, and platform were unaffected by the recent hack on the cross-chain router protocol Multichain. The Binance boss tweeted that the exchange had finalized all asset swaps and closed deposits a while before the incident occurred. Binance Unaffected...Read More
Noah Perlman – Chief Compliance Officer of Binance – said he will continue working at the world’s largest cryptocurrency exchange. The company has been coping with serious regulatory problems recently, while some top executives resigned from their posts. CEO Changpeng Zhao (CZ) confirmed the departures, but claimed they were not related to the lawsuits coming...Read More
A slew of senior executives at Binance are reportedly fleeing en masse as the company grapples with a massive lawsuit from the Securities and Exchange Commission (SEC) and a Justice Department investigation into its CEO Changpeng Zhao (CZ). One executive – former Chief Strategy Officer Patrick Hillman – has already confirmed his departure. Chaos In...Read More
Binance CEO Changpeng Zhao (CZ) explained on Wednesday why Binance spends time supporting cryptocurrencies and blockchains beyond those it chiefly develops. While the executive remained optimistic about the BNB Chain ecosystem, he said that he personally is a “heavy promoter of Bitcoin (BTC).” Are Binance’s Blockchain Centralized? In an AMA hosted over Twitter on Wednesday,...Read More
A low-profile but highly influential senior executive at Binance has spoken out as the company begins legal battles against two top market regulators in the United States. Yi He, who boasts a massive fortune as one of the company’s early shareholders, has also had children with Binance CEO Changpeng Zhao (CZ). The SEC Lawsuit He...Read More
