CEO Financial News

In a statement posted on Twitter, the crypto giant says it encourages customers to withdraw their USD via ACH by 13 June, when its banking partners are expected to close channels.Says Binance.US: "The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry."Binance.US and our business partners have not been spared in the use of these tactics, which has created challenges for the banks with whom we work."The firm says it is therefore becoming a crypto-only exchange until it can secure more stable banking partners.Earlier this week, the SEC sued Binance and its CEO Changpeng Zhao, alleging a host of securities law violations and accusing the world's largest crypto exchange of engaging in an "extensive web of deception".The regulator has also filed for a temporary restraining order to freeze certain assets tied to Binance.US.

Mary O’Connor is CEO of Howden Capital, Advisory and Placement and former acting CEO of KPMG UK

Binance.US is halting USD deposits and has warned users to withdraw all US dollar funds by June 13th, although its dollar withdrawal service is currently not working. 

The CEO of Euronext told trading chiefs at Financial News’s awards in London to go "above prejudices" and maintain a bond between the UK and European Union.

Check out the companies making headlines after hours.

A new filing from the U.S. Securities and Exchange Commission suggests that Binance moved billions of dollars in customer funds through Signature Bank and Silvergate Bank – both crypto-friendly U.S. firms that failed in March. 

In this article

Schroders Plc, an asset management firm with over $900 billion in assets under management, is venturing into crypto and is actively searching for a third-party custodian to support its digital asset expansion.

In this article

In the latest court filing by the US Securities and Exchange Commission (SEC) against Binance, the Switzerland-registered crypto-asset trading company, Sigma Chain, is under scrutiny. The filing alleges that Changpeng Zhao (CZ), the CEO of Binance, is the actual owner of Sigma Chain, with multiple Binance employees operating the firm.

Check out the companies making the biggest moves midday.

Gary Gensler – chairman of the U.S. Securities and Exchange Commission (SEC) – sees “parallels” between Binance and its failed competitor FTX’s handling of customer assets. 

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Ken Griffin, founder and CEO of Citadel, believes the hype around artificial intelligence could be overblown at this early stage.

Cboe was the big winner in Financial News’s Trading & Tech Awards last night, picking up three gongs, including the coveted Exchange Group of the Year.

The world's leading cryptocurrency has recently faced a significant challenge as the Securities and Exchange Commission (SEC) filed a lawsuit against Binance, a major cryptocurrency exchange. 

Bitcoin has made a significant move by breaking above the crucial resistance level of $27,000. 

The price of Bitcoin has experienced a decline of 4.50% in the last seven days as mixed market sentiment continues to impact its performance. 

A fresh Montenegro court ruling means Do Kwon, the Terraform Labs founder and CEO, could be released on bail again.

Among other things, the SEC alleges that, while Zhao and Binance publicly claimed that US customers were restricted from transacting on the firm's international exchange, in reality they "subverted their own controls" to skirt this rule.Further, the SEC alleges that, while Zhao and Binance publicly claimed that the company's US exchange was created as a separate, independent trading platform for US investors, they secretly controlled Binance.US operations behind the scenes.According to the SEC, Zhao and Binance have been able to commingle customer assets or divert customer assets as they please, including to an entity Zhao owned and controlled called Sigma Chain. SEC chair Gary Gensler says: "Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law."As alleged, Zhao and Binance misled investors about their risk controls and corrupted trading volumes while actively concealing who was operating the platform, the manipulative trading of its affiliated market maker, and even where and with whom investor funds and crypto assets were custodied.

UK-based crypto analytics and risk management firm Elliptic has incorporated the popular artificial intelligence (AI) chat bot ChatGPT into its work, with an aim to speed up the tracking of cybercriminals, the firm said in a recent press release.