Binance, one of the largest cryptocurrency exchanges, has recently announced its resolution of investigations by the U.S. Department of Justice (DOJ) and other agencies. The company admitted to past wrongdoing and emphasized its commitment to compliance and organizational restructuring. Binance acknowledged its role in historical compliance violations but clarified that the U.S. agencies did not […]
Binance’s CEO, Changpeng Zhao, is reportedly stepping down from his position as the crypto exchange faces a $4.3 billion fine and criminal charges from the U.S. government. The charges accuse Binance of violating anti-money laundering laws and sanctions. Zhao is expected to plead guilty in federal court in Seattle, signaling a strategic move by Binance […]
Binance, one of the largest cryptocurrency exchanges, and its founder Changpeng Zhao, commonly known as CZ, have been facing a series of legal challenges in the United States. The government has filed indictments against Binance and Zhao, accusing them of violating US laws related to money laundering and terror financing. As part of a deal, […]
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 […]
