The defunct cryptocurrency exchange believes Binance conducted fraudulent transactions FTX launched a lawsuit against Binance and its former CEO, Changpeng Zhao, claiming that $1.8 billion in “fraudulent transfers” were made to Binance and its executives. The lawsuit hinges on a 2021 transaction where Binance sold back its stake in FTX, acquired in 2019, to FTX
The SEC amended its complaint against the cryptocurrency company, which continues to fight back Binance and its former CEO, Changpeng “CZ” Zhao, are pushing back against the US Securities and Exchange Commission (SEC) in an ongoing legal case, challenging new claims that add more tokens to the list of alleged securities violations. On November 4,
The cryptocurrency exchange is going to have to respond to allegations it illegally sold securities The simmering legal dispute between Binance.US, the American arm of cryptocurrency giant Binance, and the Securities and Exchange Commission (SEC) has reached a boiling point. Binance.US is bracing for a lengthy legal battle after a US court ruling allowed the
The platform formerly known as Twitter has seen an uptick in cryptocurrency fraud Binance co-founder Yi He recently expressed that he doesn’t believe Elon Musk is doing enough to fight cryptocurrency scams on the X.com platform and questions whether he would do anything to address the issue. He’s worried were about an apparent impersonation scam
The cryptocurrency exchange is moving on as its founder spends time in prison The world’s biggest cryptocurrency exchange by daily volume, Binance, announced on social media on June 8 that it now serves 200 million users worldwide. This is by far the most users among any global crypto exchange. Binance celebrated the milestone across social
Binance wins a round, even as it continues to face issues elsewhere Binance US has won its appeal following the suspension of its money-services business license in Florida. A Florida First District Court of Appeal ruling determined that the Office of Financial Regulation’s (OFR) emergency suspension order against the cryptocurrency exchange had no legal justification. The agency
Binance will be closely monitored to ensure it complies with financial regulations The Department of Justice (DOJ) has mandated that Binance, the world’s largest cryptocurrency exchange, remain under regulatory review by the Forensic Risk Alliance (FRA) for a period of three years. This directive follows a series of investigations that revealed Binance’s involvement in anti-money
The sentence will follow an admission of money laundering in the US US Prosecutors in the federal money laundering case against Binance founder Changpeng “CZ” Zhao are recommending jail time for the former CEO. He’ll be sentenced in US District Court on April 30, and he could go to prison for 36 months after admitting to violating US money laundering laws. “Given the magnitude of
The cryptocurrency exchange’s troubles are following it around the world Cryptocurrency exchange Binance is facing more difficulties outside the US, as authorities in Canada and the Philippines recently took action against the company. The company currently accounts for 58% of the total centralized exchange spot trading volume as of March 2024 and is the dominant player in the derivatives
The exchange follows Circle’s February decision to do the same The cryptocurrency exchange Binance will halt deposit and withdrawal support for TRC-20-based USD Coin (USDC) tokens in less than two weeks. It’s the latest exchange to make the announcement in a month. USDC issuer Circle announced its plans to terminate support for the stablecoin over
The changes target TrueUSD and other digital currencies The Binance cryptocurrency exchange recently revealed its plans to delist several TrueUSD (TUSD) trading pairs, the stablecoin associated with Justin Sun, the founder of Tron. The exchange published a notification on March 13 saying several TUSD pairs would be removed from the exchange, including COMP/TUSD, EPENDLE/TUSD and
A sudden increase in traffic leads the cryptocurrency exchange to temporarily curb movements Cryptocurrency exchange Binance has suspended Solana network withdrawals due to an “increased volume of transactions.” According to a March 6 announcement, the company expects to find a solution and restart withdrawals on March 9. “Withdrawals on the Solana (SOL) network have been
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