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 […]
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 […]
The United States Department of Justice has seized approximately $9 million worth of Tether USDT following the freezing of funds connected to a criminal organization involved in romance scams. The funds were allegedly part of Tether’s efforts to freeze $225 million worth of USDT in wallets associated with the scam. The romance scams involved individuals […]
Binance founder Changpeng “CZ” Zhao has agreed to step down as CEO of the crypto exchange following a $4.3 billion settlement with the U.S. Department of Justice (DOJ). CZ is expected to plead guilty to multiple charges in a federal court in Seattle. While he will retain his majority stake in Binance, he will no […]
Binance CEO Changpeng Zhao (CZ) is reportedly considering stepping down as Chair of the world’s largest cryptocurrency exchange as part of a potential $4 billion settlement with the US Department of Justice (DOJ). The settlement would also involve the Commodities Futures Trading Commission (CFTC), while the Securities and Exchange Commission (SEC) would not be participating. […]
The US Department of Justice is expected to announce a settlement deal with cryptocurrency exchange Binance today. The settlement comes after allegations of money laundering and sanctions violations. The press conference, to be held by US Attorney General Merrick Garland, will unveil separate cryptocurrency enforcement actions. It is reported that the settlement will include a […]
Jesse Powell, co-founder of cryptocurrency exchange Kraken, has criticized the Securities and Exchange Commission (SEC) for filing a lawsuit against his platform. Powell referred to the SEC and its chief, Gary Gensler, as “USA’s top decel,” implying that they hinder progress. He expressed dissatisfaction with the SEC’s actions, stating that Kraken had already paid $30 […]
US Senator Cynthia Lummis has criticized the United States Securities and Exchange Commission (SEC) for its regulatory approach towards Kraken, a San Francisco-based cryptocurrency exchange. The SEC recently filed a lawsuit against Kraken, accusing the exchange of operating an unregistered trading platform for cryptocurrency assets. The lawsuit alleges that Kraken mixed client assets with its […]
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange Kraken, designating Cardano (ADA) and Solana (SOL) as securities. This move aligns with the SEC’s ongoing legal battles with other major crypto exchanges. Kraken’s CEO, Dave Ripley, has challenged the SEC’s allegations, emphasizing the need for clear regulatory frameworks in the […]
