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In April 2019, Binance launched Binance Smart Chain, which has smart contract functionality and is an Ethereum competitor. In February 2018, Forbes placed him third on their list of "The Richest People In Cryptocurrency," with an estimated net worth of $1.1-2 billion. [14] [16] In 2019, Zhao launched Binance's U.S. affiliate, Binance.US. [17]
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 ...
Binance Holdings Ltd., branded Binance, is a global [8] company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao , a developer who had previously created high-frequency trading software.
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The following day, however, Binance immediately withdrew its offer causing Bitcoin and Ether to plummet another 14% and 16%, respectively, to their lowest levels since November 2020. [116] The same day, the SEC and Justice Department launched an investigation into the company. [117] FTX filed for bankruptcy protection on 11 November. [79]
By contrast, two of her newly-appointed key advisers are no strangers to the industry: one took crypto exchange Binance to court, while the other has worked for the firm.
A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement.