CZ to Plead Guilty to Violating Anti-Money Laundering Requirements – WSJ
According to a Wall Street Journal (WSJ) report, Changpeng Zhao, CZ, plans to plead guilty to violating U.S. Anti-Money Laundering requirements and step down as the CEO of the Binance exchange. As the United States Department of Justice (DOJ) awaits the announcement of a $4.3 billion settlement with the company, Binance founder Changpeng “CZ” Zhao […]
U.S. SEC Alleges Binance.US in $250M Suspicious Fund Transfers
The U.S. Securities and Exchange Commission (SEC) has expressed concerns about Binance’s questionable fund transfers, according to court records. In publicly released court documents , the SEC reported that on June 6, Binance CEO Changpeng Zhao withdrew $250 million from Binance.US Subsidiary BAM Management and subsequently transferred this sum to BAM Trading, the entity behind […]
U.S. Judge Disputes SEC Access To Binance.US Software
The SEC lost its lawsuit against Binance.US, the cryptocurrency trading platform. U.S. Magistrate Judge Zia Faruqui denied the SEC’s request for quick access to Binance.US’s software . Since June, the SEC has been pursuing a case against Binance.US, its international counterpart Binance Holdings Ltd., and CEO Changpeng Zhao. Throughout this period, the regulator has encountered […]
SEC Sues Binance, CZ for Securities Violations
The U.S. Securities and Exchange Commission (SEC) has taken legal action against Binance and its CEO, Changpeng Zhao (CZ). According to a Bloomberg article, the SEC has filed a lawsuit against Binance Exchange and CZ for violating U.S. securities laws. The lawsuit covers both the foreign and U.S. activities of the trading platform. The SEC […]
Binance Will Launch Proof Of Reserves To Ensure Transparency
This comes after CZ revealed that Binance would buy its rival FTX in order to protect against the liquidity crisis it is experiencing. The CEO of Binance, CZ, recently suggested that all cryptocurrency exchanges perform merkle-tree proofs of reserves. He added that, unlike banks, cryptocurrency exchanges, shouldn’t operate on fractional reserves. In order to allay […]