Tag: Binance

February 26, 2024 BY Elizabeth Anderson

US judge accepts Binance’s $4.3bn guilty plea

The penalty includes $1.81bn criminal and $2.51bn forfeiture fines. Binance already submitted its guilty plea in November 2023 and this legal approval, which was given on Friday, 23 February 2024, brings the matter to a close. According to Reuters, the plea resolved an extensive probe that investigated Binance’s failure to report over 100,000 transactions attached…

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February 19, 2024 BY PureContent

Binance to face five-year monitoring amid money laundering violations

The DoJ had gathered evidence of Binance violating US anti-money laundering laws between US users and customers in countries such as Russia, Cuba, and Syria . Binance's CEO, Changpeng (CZ) Zhao, was specifically targeted for knowingly violating US regulatory requirements, resulting in his resignation from the exchange. Moreover, Changpeng paid a $150m fine and is awaiting…

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November 24, 2023 BY Elizabeth Anderson

Binance CEO pleads guilty to money laundering in $4.3bn settlement

Charged with breaking US anti-money-laundering laws, fraudulent customer funds management and conspiracy to commit fraud, Zhao now faces a $4.3bn settlement that must be paid to cover a federal investigation into Binance’s illegal activities by US Securities and Commission Exchange (SEC). _____________________________________________________________________________________________________________________________________ Don’t miss out the latest news, subscribe to LeapRate’s newsletter _____________________________________________________________________________________________________________________________________ To counter…

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September 15, 2023 BY Elizabeth Anderson

Exodus of Binance executives continues as regulator pressures mount

Earlier this month, reports of the departure of Mayur Kamut, the Binance Head of Product, were issued in the wake of other key resignations, which included the Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng. The company also lost its Senior Director of Investigations, Matthew Price, and Senior Vice President for Compliance, Steven…

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September 05, 2023 BY Elizabeth Anderson

Bybit harnessing the brainpower of AI chatbot

Through the integration of these AI abilities, TradeGPT uses real-time market data to perform analyses, make movement predictions, and answer technical questions. The Dubai-based cryptocurrency exchange is not the only one that employs ChatGPT for market insights.  Crypto.com has its own AI user assistant, Amy, launched in May 2023. Binance, arguably the world’s foremost crypto…

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September 05, 2023 BY Elizabeth Anderson

Another top executive resigns from Binance

A Binance spokesperson confirmed the report to Reuters. Among others, the company also had to bid farewell to its Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng, during this year. These resignations raise industry eyebrows as they follow scrutiny by authorities, including the U.S. Securities and Exchange Commission (SEC) and the Australian Securities…

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June 30, 2023 BY Steffy Bogdanova

Germany rejects Binance’s application for crypto license

Binance has not yet commented on the denied license bid, however, a spokesmen for the company only shared that "ongoing process" and the exchange continues “to work to meet Bafin's requirements." It is unclear whether the rejection is formal or whether the German regulator has expressed their intention in ongoing discussions. Binance has been facing…

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