After Binance CEO Changpeng Zhao (CZ) agreed to plead guilty and step down as CEO of the world’s largest cryptocurrency exchange, the crypto world fiercely debated the future of the company he founded in 2017. Cults of personality are not new to the tech or cryptocurrency industries, where figures like SpaceX CEO Elon Musk have amassed scores of followers and…
CoinList founder Andy Bromberg believes that spot Bitcoin (BTC) exchange-traded funds (ETFs) are just “watered down crypto” and a sign the industry is heading in the wrong direction, amid growing hype over potential ETF approvals in the United States. Bromberg — also CEO of payments-focused wallet app Beam — told Cointelegraph: “If a Bitcoin ETF is considered crypto, we’ve failed…
Binance founder and CEO Changpeng “CZ” Zhao is stepping down from his role at the crypto company and pleading guilty against charges put forth by the U.S. Department of Justice. Binance will also pay $4.3 billion as part of the settlement. Richard Teng, previously Binance’s Global Head of Regional Markets, will step in as CEO. But despite the unexpected shake-up,…
Officials with the U.S. Justice Department, Treasury, and CFTC alleged Binance “lacked basic safeguards” to protect against sanctions and Changpeng Zhao committ… Source: https://cointelegraph.com/public/index.php/news/us-officials-announce-binance-settlement
Crypto markets were subjected to a heavy dose of volatility on Nov. 21 as the United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC) and U.S. Treasury announced a $4.3-billion settlement with Binance and that former Binance CEO Changpeng Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with…
Only weeks ago, a Manhattan jury found disgraced FTX founder Sam Bankman-Fried guilty of seven counts of fraud and conspiracy, setting the fallen Silicon Valley darling up for a potentially lifelong stint in a brutal federal penitentiary. Will his longtime rival end up behind bars, as well? Today, in a shocking development, Binance CEO Changpeng Zhao agreed to a settlement…
Brian Armstrong, CEO of crypto exchange Coinbase, thinks that his company made the right decision to comply with U.S. money transmitter licensing laws. In a Nov. 21 social media post, Armstrong weighed in on the news that rival exchange Binance is pleading guilty to criminal charges, stating that he is glad his own exchange decided to obtain money transmitter licenses,…
Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange. In a Nov. 21 press conference, Attorney General Merrick Garland announced CZ entered his plea in person in U.S. federal court despite residing outside the country. He added…
Binance agrees to pay $4.3 billion—one of the largest corporate penalties in U.S. history—to settle anti-money laundering, sanctions violations. At the same time, CEO Changpeng Zhao has stepped down after pleaded guilty to failing to maintain an effective anti-money laundering program and agreeing to pay a separate $50 million fine. The charges state that Binance focused on profits over legal…
Binance founder Changpeng Zhao (aka “CZ”) has officially resigned as CEO of Binance, he said in a tweet Tuesday, as the United States Department of Justice announced charges against Zhao and the exchange. “I made mistakes, and I must take responsibility,” Zhao wrote. “This is best for our community, for Binance, and for myself.” Zhao tweeted that Richard Teng, previously…
