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The SEC on June 5 sued Binance, its CEO and founder Changpeng Zhao and Binance.US's operator, alleging that Binance artificially inflated its trading volumes, diverted customer funds, failed to ...
In June 2022, the US Securities and Exchange Commission launched an enquiry into Binance as an entity and not into the crypto products it was dealing in. [21] On 11 November 2022, FTX , which was at that time the third largest cryptocurrency exchange by volume and valued at $18 billion, [ 22 ] entered bankruptcy proceedings in the US court ...
In response, Binance and other investors opened Binance.US, a separate exchange designed to comply with all applicable US federal laws. [137] In May 2021, Bloomberg News reported that Binance was under investigation by the United States Department of Justice and Internal Revenue Service for money laundering and tax evasion . [ 138 ]
Though this might not address all of the challenges in crypto industry, it was a significant milestone in the US cryptocurrency regulation history. [ 170 ] In February 2023, the SEC ruled that cryptocurrency exchange Kraken 's estimated $42 billion in staked assets globally operated as an illegal securities seller.
SEATTLE (Reuters) -Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating U.S. money-laundering laws at the ...
800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call: ... Assuming the bank is closed and making a large withdrawal inside the bank or in the drive-through ...
On January 27, 2022, Qubit Finance (DeFi) lost around $80M worth of Binance Coin due to a flaw in the smart contract that enabled the withdrawal of the said amount in exchange for a deposit of 0 ETH. [33] In March 2022, [34] the largest cryptocurrency theft of the year, US$625 million in ether and USD coin was stolen from the Ronin Network ...
Richard Teng is the chief executive officer (CEO) of Binance, a company that operates one of the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Previously, he worked for the Monetary Authority of Singapore and was chief regulatory officer of the Singapore Exchange and CEO of the Abu Dhabi Global Market .