binance
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Binance CEO Pleads Guilty to Money Laundering Violations, Will Step Down
Binance founder Changpeng Zhao (CZ) will step down from his CEO duties and plead guilty to criminal charges, paying a $US50 million fine, according to court documents made public Tuesday. The Department of Justice is expected to announce a $US4 billion settlement with Binance this afternoon, putting an end to a fierce legal battle between…
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Binance Says U.S. Law Doesn’t Control The World, Seeks to Dismiss CFTC Suit
Binance is once again fighting off regulators, claiming the Commodity Futures Trading Commission’s (CFTC) lawsuit is an overreach of U.S. law. The largest cryptocurrency exchange in the world says the agency is trying to regulate foreign individuals and corporations operating outside the US. “U.S. law governs domestically but does not control the world. Congress did…
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Crypto’s Biggest Federal Villain Says AI Could Help Cause the Next Big Financial Crisis
Tech hype comes in waves, and while the focus constantly changes (first crypto, then metaverse, and now AI), some things—like tech’s critics—remain the same. SEC Chair Gary Gensler has been the crypto community’s public enemy no. 1 for a few years now, but now he’s offering his somewhat caustic assessment on Silicon Valley’s latest heartthrob:…
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Binance Charged With Running Illegal Crypto Exchange in New SEC Complaint
Binance was hit with a new lawsuit from the U.S Securities and Exchange Commission Monday. The federal regulator unleashed 13 charges against the world’s largest crypto exchange and its founder Changpeng Zhao Monday, alleging violations of U.S. securities law, accusing the company of operating an illegal exchange. “Through thirteen charges, we allege that Zhao and…