Former Binance CEO Changpeng Zhao has pleaded guilty to money laundering charges and has agreed to pay a $50 million fine. He also faces a potential 18-month prison sentence. As part of his plea deal, Zhao has stepped down from his leadership position at Binance. In a post on X, he expressed his resignation and […]
Brian Armstrong, the CEO of Coinbase, has expressed his satisfaction with the decision made by his company to comply with U.S. money transmitter licensing laws. In contrast to rival exchange Binance, which is pleading guilty to criminal charges, Armstrong believes that Coinbase’s commitment to obtaining the necessary licenses has positioned the company as a long-term […]
Binance, one of the largest cryptocurrency exchanges, has announced a change in leadership. Richard Teng, the head of regional markets outside of the U.S., has been appointed as the new CEO. This decision comes after the founder and former CEO, Changpeng “CZ” Zhao, resigned and pleaded guilty to charges brought against him by the U.S. […]
Binance, a major cryptocurrency exchange, is planning to completely withdraw from the United States. In addition to settling charges with the Department of Justice (DOJ), the exchange will also pay billions of dollars to the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC). As part of the settlement, Binance will […]
Binance CEO Changpeng Zhao, also known as CZ, is reportedly set to plead guilty to charges related to violating US Anti-Money Laundering (AML) requirements. The United States Department of Justice (DOJ) has reached a $4.3 billion settlement with the cryptocurrency exchange giant. CZ is expected to make his plea in a federal court in Seattle […]
A federal court has unsealed indictments against Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng “CZ” Zhao. The United States government expects both Binance and CZ to enter guilty pleas. The charges against CZ include failure to maintain an effective anti-money laundering program, violating the Bank Secrecy Act. The government believes that the […]
Celsius Network, a US-based lender, plans to restructure itself into a Bitcoin mining company called Mining NewCo. This decision comes after receiving regulatory feedback and consulting with creditors. Initially, Celsius had proposed forming Fahrenheit NewCo, but due to potential regulatory complications, the company decided to focus solely on Bitcoin mining. The move reflects a trend […]
Celsius Network, a bankrupt crypto lender, has announced its plans to transition into a Bitcoin mining-only company. This decision comes after the company’s bankruptcy court confirmed its plan. Celsius had been facing financial challenges and filed for a reimbursement plan to resolve its issues. The majority of its creditors voted in favor of this plan. […]
Changpeng Zhao, the CEO and founder of Binance, the world’s largest cryptocurrency exchange, is reportedly planning to step down from his role and plead guilty to violating US anti-money laundering laws. This comes as part of a deal with US authorities, where Zhao will appear in federal court in Seattle to enter his guilty plea. […]
Binance CEO Changpeng Zhao is reportedly stepping down from his position at the exchange after pleading guilty to violating U.S. anti-money laundering requirements. The Wall Street Journal has reported that Binance will also plead guilty to money laundering violations. The news caused the value of BNB, the token backed by Binance, to fluctuate dramatically, reaching […]
