Changpeng Zhao News

Binance.US and the US Securities and Exchange Commission have agreed on a compromise that avoids the freezing of the exchange's assets.

PARIS — Days before French police visited Binance's Paris office, the crypto exchange's top French executive dismissed concerns about U.S. regulatory charges impacting Binance's other operations, comparing them to the flapping of a butterfly's wings.

Binance.US and the United States Securities and Exchange Commission have agreed to work on an arrangement that will allow the exchange to avoid freezing all of its assets.

Cyprus unit has applied to be removed from Cyprus' register of crypto asset service providers, the securities regulator website showed on Wednesday, in a move Binance said would allow it to focus on its larger European businesses. It was unclear when Binance applied to deregister. The exchange, the world's biggest, announced its registration with the Cyprus Securities and Exchange Commission in October 2022. A source at the regulator said on Wednesday that Binance never launched its business in Cyprus. The Cyprus registration allowed Binance to offer spot trading, custody and other services in compliance with Cyprus's anti-money laundering and counter-terrorist financing rules, the exchange has previously said on its website. A spokesperson for Binance said it was pulling back on Cyprus to sharpen its focus on its other companies in the European Union ahead of the rollout of the EU's crypto asset regulations (MiCA).

Moshe Hogeg, an Israeli entrepreneur, has returned to the spotlight of the crypto industry after speaking at a conference in Morocco on ‘alternative internet network’ Tomi.

Binance.US and the US Securities and Exchange Commission are trying to reach a solution in order to avoid a total asset freeze.

Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin's liquidity. The move comes amid renewed regulatory scrutiny at the world's largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued by the U.S. Securities and Exchange Commission. The swap, set to start after 12 p.m. UTC on Monday, will be held directly with the tether team, the tweet said. Tether is the largest stablecoin that aims to maintain a 1:1 peg with the U.S. dollar. Tron is the ninth largest cryptocurrency with a $6.3 billion market value, while ether is the largest after bitcoin, with its $210 billion market capitalization.

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance on June 5, alleging that the exchange was involved in the sale of unregistered securities. In its 136-page complaint, the SEC accuses Binance and its founder, Changpeng “CZ” Zhao, of participating in a complex conspiracy that involved fraud, conflicts of interest, a lack of disclosure and willful disregard for the law. 

The United States Securities and Exchange Commission (SEC) and BAM Trading (Binance’s U.S. arm) recently filed a request for a consent order that would ease some of the restrictions from a previous SEC request to freeze the company’s assets. 

While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as bad as it appears. 

Binance, the world's largest cryptocurrency exchange by trading volume, has been ordered to cease operations in Nigeria by the country's Securities and Exchange Commission (SEC). 

crypto exchange. The next day, the SEC sued Coinbase, alleging misconduct by America’s largest crypto exchange. The SEC's actions against both Binance and Coinbase were not entirely unexpected, given the signals (threats, warnings) from the SEC in recent times.

The United States Securities and Exchange Commission (SEC) is seeking ‘alternative service’ from the U.S. District Court in Washington, D.C., to issue a legal summons to Changpeng Zhao, the CEO of cryptocurrency exchange Binance.

The U.S. affiliate of the largest global crypto exchange has suspended dollar deposits as it expects banks to cut off transactions after it was sued by the Securities and Exchange Commission earlier this week.

Binance CEO Changpeng Zhao has condemned the move by the US Securities and Exchange Commission to leak employee chat records. 

Binance.US customers will no longer be able to use U.S. dollars to buy crypto on the platform as early as June 13, hobbling the exchange's ability to do business in the United States, after both payment and banking partners «signaled their intent to pause USD fiat channels,» the exchange said.

Before becoming head of the US Securities and Exchange Commission, Gary Gensler offered to serve as an adviser for Binance, according the crypto exchange, which is now facing heat from the regulator.

Binance may have misled lawmakers in the United States about its business dealings and relationship with its local unit in a letter sent in March, Bloomberg reported on June 8. 

SEC Chair Gary Gensler once offered to serve as an advisor to Binance in 2019, according to lawyers representing Binance and founder Changpeng Zhao, CNBC reports. 

The United States District Court in Washington, D.C. issued a summons for Binance CEO Changpeng Zhao on June 7, just two days after the Securities and Exchange Commission (SEC) formally sued the exchange for alleged unregistered securities operations. 

Crypto billionaires have been hit hard by the Securities and Exchange Commission's crackdown on Binance and Coinbase, incurring huge losses so far this week.