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Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States. No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine,
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Zhao’s guilty plea stems from accusations that Binance violated the Bank Secrecy Act by knowingly allowing US customers on the platform without conducting proper KYC and AML checks. In a recent development in the legal saga surrounding Binance Holdings Ltd‘s former CEO Changpeng ‘CZ’ Zhao, prosecutors are intensifying efforts to keep
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A high-profile situation that eventually led to CZ leaving his role as CEO of Binance has not distracted traders from their interest in Bitcoin. Crypto traders appear to be unbothered about the industry-shaping events of the last 24 hours. On Tuesday, November 21, reports circulated that both Binance exchange and its
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Besides the fines Changpeng Zhao will pay, Binance has also agreed to pay $4.3 billion to the United States Department of Justice (DoJ). Binance founder Changpeng Zhao (CZ) has been released from custody after agreeing to a personal recognizance bond of $175 million. Mr Zhao pled guilty to accusations by federal officials
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Data shared by market analyst Chang shows that early Wednesday, market participants traded 550 contracts of BTC $45,000 strike call option expiring in March 2024 on Deribit. Buyers, expecting a continued price rally in bitcoin in the coming months, paid a cumulative premium of $1.5 million for the bullish bets.
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As of writing, BTC traded close to $36,400, having tanked over 4.5% to $35,700 Tuesday. BNB changed hands at $234, recovering from the overnight low of $223, CryptoX data show. Both currencies, however, were still down 3.3% and 11.5% on a 24-hour basis, nursing hangover from Tuesday's events, which saw
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Binance faces a pivotal change as CEO Changpeng Zhao agrees to step down and the company prepares to pay $4.3 billion in fines, following a settlement with the SEC over anti-money laundering violations. Changpeng Zhao’s decision to step down as CEO of Binance and plead guilty to violating U.S. anti-money-laundering requirements
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Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange.“In a Nov. 21 press conference, Attorney General Merrick Garland announced that CZ entered his plea in person in
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Nishad Singh, the former engineering director at now-defunct crypto exchange FTX, has reportedly said he “hopes for no jail time” as part of an agreement with prosecutors.According to reports from the criminal trial of Sam “SBF” Bankman-Fried on Oct. 16, Singh revealed details about his deal with the United States
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Day six of the trial of Sam Bankman-Fried saw the conclusion of former FTX chief technology officer Gary Wang’s testimony and the beginning of former Alameda Research CEO Caroline Ellison’s. Wang testified about his plea deal, among other things.According to Inner City Press on X (formerly Twitter), Assistant United States
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