In a significant legal showdown, Binance, the world’s largest cryptocurrency exchange, is set to go head-to-head with the US Securities and Exchange Commission (SEC) in a Washington courtroom. The hearing, scheduled for Friday, marks the second high-profile legal battle this week involving the SEC and a top crypto exchange, following a similar case against Coinbase. […]
Binance.US Faces Pivotal Leadership Change As Changpeng ‘CZ’ Zhao Steps Down As Chairman | Bitcoinist.com
In the latest development involving Changpeng Zhao (CZ), founder and former CEO of Binance, it has been announced that he has decided to resign as Chairman of the Board of Directors of Binance.US. Binance.US Affirms Independence From Enforcement Matters As announced, Binance.US, an independent entity from Binance.com, was launched with a primary focus on serving […]
BREAKING: Binance CEO CZ Steps Down As Part Of $4 Billion Settlement | Bitcoinist.com
In the wake of ongoing crackdown by US regulatory agencies and investigations conducted by the Department of Justice (DOJ), Binance CEO Changpeng Zhao (CZ) is reportedly stepping stepping down as chairman of the world’s largest cryptocurrency exchange. According to Forbes, as part of a potential $4 billion settlement between Binance and the DOJ, CZ’s departure […]
In response to the lawsuit filed by the US Commodity Futures Trading Commission (CFTC), Binance, the world’s largest cryptocurrency exchange, along with its affiliates and founder Changpeng Zhao, has submitted a motion to dismiss the case. The legal team representing Binance argues that the allegations made by the CFTC should be dismissed on several grounds. […]
In a recent development, Binance, the world’s largest cryptocurrency exchange, is facing serious allegations of “aggravated money laundering” in France. These charges come after a visit by local police to the exchange’s headquarters in the European country on June 16. Binance Faces French Probe French prosecutors initiated the investigation into Binance in June 2023, looking […]
Binance.US, the United States-based unit of cryptocurrency exchange Binance, has recently suspended dollar withdrawals from its platform. This move comes after the ongoing legal battle with the US Securities and Exchange Commission (SEC). Binance.US Adjusts Services According to a Reuters report, Binance.US customers can no longer directly withdraw US dollars from their accounts. Instead, they […]
Changpeng “CZ” Zhao, the CEO and founder of the world’s leading cryptocurrency exchange Binance, has responded to claims that he received a $250 million loan from BAM Management, a firm that operates as Binance.US’ holding company. Binance CEO’s Response To $250 Million Loan Claims A report from Decrypt on September 19, 2023, following a court […]
In a recent development, the United States Securities and Exchange Commission (SEC) unsealed court filings related to the ongoing litigation against Binance.US and BAM Management US Holdings Inc. The filings provide insights into the defendants’ responses and objections to the plaintiff’s first requests to produce documents and inspection. Doubts About Binance.US Full Collateralization The court […]
In the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance, the SEC has filed a robust reply supporting its Motion to Compel. The agency emphasizes the increasing exodus of the exchange’s employees, who potentially hold crucial asset custody and control information. SEC Raises Alarm Over Employee Exodus At Binance According […]
Binance Chief Executive Officer Changpeng “CZ” Zhao has commented on the recent exodus of top executives from the exchange’s US subsidiary in the last week. On September 13, the CEO of Binance.US, Brian Shroder, resigned from the company amidst a general layoff that saw the exit of one-third of the company’s workforce. In addition, two […]