Binance Financial News

Brian Armstrong, CEO of crypto exchange Coinbase, thinks that his company made the right decision to comply with United States money transmitter licensing laws.

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 the cryptocurrency exchange. 

BNB’s (BNB) price broke out to a five-month high at $271.90 on Nov. 21 as reporting from The Wall Street Journal and others said the United States Department of Justice (DOJ) planned to announce a $4.3 billion settlement with Binance. WSJ also reported that Binance founder Changpeng “CZ” Zhao has agreed to step down as CEO of the crypto exchange. 

Binance has named its head of regional markets outside of the United States, Richard Teng, as its new CEO. The change comes as founder and former CEO Changpeng “CZ” Zhao has resigned and pleaded guilty to charges levied against him by the U.S. Department of Justice. 

A federal court has released the indictments against Binance and CEO Changpeng “CZ” Zhao filed under seal on Nov. 14, in which the United States government said it expected the cryptocurrency exchange and CZ to enter guilty pleas. 

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.

Binance and its founder Changpeng"CZ" Zhao has admitted to violating United States laws around money laundering and terror financing — agreeing to pay $4.3 billion in fines

Former Binance CEO Changpeng Zhao on Tuesday named a new CEO of the cryptocurrency exchange he founded, after pleading guilty to federal money laundering charges and stepping down as the company's chief.

Founder and former CEO of Binance, Changpeng Zhao, announced his replacement today as the Department of Justice held a press conference announcing significant cryptocurrency enforcement actions against his company.

Binance, the world's largest cryptocurrency exchange, will pay one of the largest corporate penalties in U.S. history as a coalition of federal regulators accused the company of violating laws in pursuit of growing market share.

Binance Holdings Ltd.’s chief executive Changpeng Zhao pleaded guilty to anti-money laundering violations and agreed to pay a US$50 million fine Tuesday under a sweeping deal worked out with the United States Department of Justice designed to keep the company operating.

The U.S. government dealt a massive blow to the world’s largest cryptocurrency exchange Binance as its founder, Changpeng Zhao, pleaded guilty to a felony charge Tuesday related to his failure to prevent money laundering on his platform.

Israeli authorities have ordered dozens of cryptocurrency accounts to be closed following the October 7 attack by Hamas on the southern part of the country, the Financial Times reported on Tuesday.

Kazakhstan's Ministry of Culture and Information has clarified its decision to block the global cryptocurrency exchange, Coinbase, within the nation's borders. The ministry asserts that the trading of cryptocurrencies on Coinbase is in direct violation of the Kazakhstani law on Digital Assets. This clarification was provided in response to an inquiry from «Kursiv,» following a request from the Ministry of Digital Development, Innovations, and Aerospace Industry. The request was made to block access to Coinbase, which contravened section 5 of Article 11 of the country’s Digital Assets Law.

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Changpeng Zhao, the co-founder and CEO of Binance, has pled guilty to violating criminal U.S. anti-money laundering requirements and will forfeit his executive position at the crypto exchange.

Binance CEO Changpeng Zhao may step down as part of a major $4 billion settlement between the U.S. Department of Justice and the company, Forbes reported on Tuesday, citing a source familiar with the matter.

The U.S. Securities and Exchange Commission (SEC) fired a fresh salvo in its cryptocurrency crackdown on Monday when it sued Kraken for operating an unregistered securities exchange and allegedly mixing customer funds with its own.

The U.S. Securities and Exchange Commission (SEC) has added Kraken – a San-Francisco-based crypto exchange – to its hitlist of industry giants charged with a litany of securities law violations and internal control failures.

The move follows similar charges levelled by the SEC against Binance and Coinbase and comes just months after Kraken and the watchdog reached a $30 million settlement over the failure to register a staking-as-a-service programme.The SEC alleges that Kraken intertwines the traditional services of an exchange, broker, dealer, and clearing agency without having registered any of those functions with the Commission as required by law. Kraken’s alleged failure to register these functions has "deprived investors of significant protections," including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.In addition, says the SEC, Kraken commingles its customers’ money with its own, including paying operational expenses directly from accounts that hold customer cash.

The Securities and Exchange Commission accused crypto exchange Kraken of securities-law violations, less than a year after unveiling a $30 million settlement with the firm over other alleged conduct.