Tag: Binance
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Changpeng Zhao will never lead Binance again: Richard Teng
Binance’s CEO, Richard Teng, has confirmed that former CEO Changpeng Zhao (CZ) is permanently barred from managing or operating the crypto exchange. Contrary to previous reports suggesting a three-year ban, Teng clarified that CZ faces a lifetime ban. CZ, who had been sentenced to four months in prison for violating the Bank Secrecy Act, is…
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Only certain Palestinian accounts frozen by Binance: Richard Teng
Binance has come under scrutiny after blocking a limited number of Palestinian user accounts linked to illicit funds. This action, clarified by Yi He, Binance’s co-founder and chief customer service officer, followed accusations that the company had seized all Palestinian assets at the request of Israeli authorities. Yi He responded to these claims on X,…
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Binance founder ‘CZ’ Zhao moved from prison to halfway house.
Former Binance CEO Changpeng Zhao (CZ) has been transferred from FCI Lompoc II prison to the RRM Long Beach halfway house in California. This move led to confusion among X (formerly Twitter) users, who mistakenly believed CZ had been released early. However, he is still serving his sentence. The RRM Long Beach facility is a…
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New lawsuit against against CZ and Binance for laundering of stolen crypto.
Binance and its former CEO, Changpeng Zhao (CZ), are facing a new class action lawsuit from three crypto investors. The plaintiffs claim they couldn’t recover their stolen assets due to Binance’s alleged failure to prevent money laundering. The plaintiffs further allege that Binance played a crucial role in the money laundering process, violating the Racketeer…
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Binance resumes operations in India after 8 months
Binance, the world’s largest cryptocurrency exchange, has resumed operations for users in India after a seven-month suspension imposed by local authorities for allegedly operating “illegally” in the country. The exchange announced on Thursday that it has registered as a reporting entity with India’s Financial Intelligence Unit (FIU), a government agency responsible for monitoring financial transactions.…
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Judge allows Binance.US to invest user assets in treasuries
Binance.US has received judicial approval to invest certain customer assets in U.S. Treasury bills. This decision is part of an order setting conditions for the crypto exchange. Judge Jackson has been overseeing the SEC’s case against Binance. The SEC accused Binance and former CEO Changpeng Zhao of misleading customers, allowing U.S. investors to access Binance.com,…
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US Judge lets most of SEC case against Binance proceed
A federal judge dismissed part of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against crypto exchange Binance and founder Changpeng Zhao, but allowed other charges, including those against the holding company for Binance.US, to proceed. Judge Amy Berman Jackson of the District Court for the District of Columbia ruled that the SEC’s charges related…
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CZ reportedly holds 64% of BNB supply
In a recent report, Forbes claimed former Binance CEO Changpeng ‘CZ’ Zhao to be the 24th richest man in the world. This comes as a result of CZ reportedly holding 64% of $BNB , which amounts to $56 billions. Despite CZ stepping down as CEO and currently serving a prison sentence, $BNB reached an all…
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Binance Reaches 200 Million Users, Eyes On 1 Billion
Binance, the world’s largest cryptocurrency exchange by trading volume, has reached a significant milestone, surpassing 200 million registered users. This achievement was announced on June 8, marking nearly seven years since the platform’s launch. Rapid Growth and Adoption With over 200 million users, Binance now represents approximately 36% of the global cryptocurrency user base, which…