The former CEO of Binance, Changpeng “CZ” Zhao, has resigned from his position after pleading guilty to violating anti-money laundering laws. In a letter circulated on social media, CZ expressed his pride in his team’s work and assured that Binance will be fine, although restructuring may be on the horizon. He quoted Star Trek and […]
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. […]
Abu Dhabi-based Bitcoin mining service provider, Phoenix Group, has successfully completed its initial public offering (IPO), raising approximately $370 million. The IPO, which sold 907 million shares, surpassed the firm’s initial expectations by raising 33 times the projected amount. The overwhelming demand from retail investors led to the IPO being oversubscribed by 180 times, with […]
The US Department of Justice is seeking over $4 billion from Binance, the world’s largest cryptocurrency exchange, to settle a multi-year criminal investigation. The exchange and its CEO, Changpeng Zhao, are facing allegations of bank fraud, sanctions violations, and money laundering. The proposed settlement amount would be part of a potential agreement between Binance and […]
The US Justice Department is reportedly seeking over $4 billion from cryptocurrency exchange Binance to settle a criminal investigation into alleged money laundering, bank fraud, and sanctions violations. Negotiations between federal prosecutors and Binance have included the possibility of criminal charges against the exchange’s founder and CEO, Changpeng Zhao. Despite residing in the United Arab […]
In a groundbreaking move, cryptocurrency exchange OKX and stablecoin issuer Tether have jointly announced the freezing of $225 million in stolen USDT, marking the most extensive seizure in the history of the popular stablecoin.The funds were traced back to an international crime syndicate involved in a notorious “pig butchering” romance scam, where individuals are lured […]
The Spanish regulatory authority is considering investigating cryptocurrency advertisements on platform X, emphasizing the need for businesses to comply with local regulations and take action against unregistered entities promoting investments. In response to proposed tax legislation by the IRS, the Blockchain Association has voiced opposition, stating that it would be challenging for many players in […]
The Consumer Financial Protection Bureau (CFPB) has ordered Citibank to pay over a million dollars to potential customers who were treated unfairly. According to the CFPB, Citibank violated the Equal Credit Opportunity Act by denying services to people based on their heritage. Specifically, the bank discriminated against Armenian Americans between 2015 and 2021 when denying […]
The Consumer Financial Protection Bureau (CFPB) has ordered Citibank, a major financial institution, to pay over a million dollars to potential customers who were racially profiled and treated unfairly. According to the CFPB, Citibank violated the Equal Credit Opportunity Act by denying services to a specific group of people based on their heritage. Specifically, the […]
A French citizen residing in the United Arab Emirates, Aurelien Michel, has pleaded guilty to charges of conspiracy to commit wire fraud in connection with his Mutant Ape Planet non-fungible token (NFT) collection. Michel was arrested earlier this year at JFK Airport in New York by Homeland Security Investigation agents. The charges stem from accusations […]
