{"id":66090,"date":"2023-12-01T16:05:48","date_gmt":"2023-12-01T20:05:48","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=66090"},"modified":"2023-12-01T16:05:50","modified_gmt":"2023-12-01T20:05:50","slug":"binance-reportedly-informs-market-makers-about-us-settlement","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-reportedly-informs-market-makers-about-us-settlement\/","title":{"rendered":"Binance Reportedly Informs Market Makers About US Settlement"},"content":{"rendered":"\n

Executives of the cryptocurrency exchange Binance informed its top market makers about the possible $4.3 billion settlement <\/a>with U.S. authorities, allowing the exchange to stay in business.<\/p>\n\n\n\n

\"Binance
Binance Reportedly Informs Market Makers About US Settlement<\/figcaption><\/figure>\n\n\n\n

According to a report published by Bloomberg on December 1, Binance traders were briefed on a provisional agreement between the cryptocurrency exchange and U.S. officials at an exclusive dinner in Singapore in September \u2014 approximately two months before the disclosure of the specifics. <\/p>\n\n\n\n

Reportedly, at the event, some Binance executives assured specific traders that the exchange could afford the $4.3 billion penalty without difficulty continuing operations.<\/p>\n\n\n\n

Reportedly absent from the event was then-CEO of Binance Changpeng “CZ” Zhao; however, Richard Teng, who assumed Zhao's responsibilities after the settlement, mingled with attendees. Bloomberg reports that a Binance representative stated the portrayal of the VIP event was erroneous but declined to specify which details were incorrect.<\/p>\n\n\n\n

The former head of regional markets was in Singapore for the Token2049 conference, the Milken Institute Asia Summit\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the Formula 1 Singapore Grand Prix, and “plenty of side events,” according to Teng's September posts on X (formerly Twitter). <\/p>\n\n\n\n

\n

Glad to be speaking at Ethereum_sg. Busy week in Singapore with Token 2049, Milken, plenty of side events and rounded up by Singapore F1 night race https:\/\/t.co\/FBirPWgRLg<\/use><\/svg><\/span><\/a><\/p>— Richard Teng (@_RichardTeng) September 12, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

CZ is liable to the U.S. Commodity Futures Trading Commission for $150 million as part of the settlement agreement with Binance, which requires the company to pay $4.3 billion to various U.S. authorities and regulators. <\/p>\n\n\n\n

A court in the United Arab Emirates deliberated Zhao's request to return there before his February sentencing; he remained on parole in the United States at the time of publication.<\/p>\n\n\n\n

The U.S. Securities and Exchange Commission filed a lawsuit against the exchange Binance.US and Zhao in June, although the settlement primarily resolves Binance's legal issues in the United States. <\/p>\n\n\n\n

For his alleged promotion of Binance nonfungible tokens (NFTs), which are unregistered securities, a group of investors has also lodged a lawsuit against the soccer star Cristiano Ronaldo<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Executives of the cryptocurrency exchange Binance informed its top market makers about the possible $4.3 billion settlement with U.S. authorities, allowing the exchange to stay in business. According to a report published by Bloomberg on December 1, Binance traders were briefed on a provisional agreement between the cryptocurrency exchange and U.S. officials at an exclusive […]<\/p>\n","protected":false},"author":12,"featured_media":49389,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[5521,17443,11794],"class_list":["post-66090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-binance-2","tag-market-makers","tag-settlement"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/image-24.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=66090"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/49389"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=66090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=66090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=66090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}