Binance and Changpeng 'CZ' Zhao Settle Landmark Case After U.S. Court Approval
The CFTC achieved a major legal triumph when the U.S. District Court granted approval for the settlement with Binance and its CEO.
ZoeyThe CFTC achieved a major legal triumph when the U.S. District Court granted approval for the settlement with Binance and its CEO.
ZoeySince 2017, Binance has been striving to obtain a phased 'partially legal' status in certain global regions through diplomacy, acquisitions, joint investments, philanthropic funding, and other means.
CaptainXBinance and CEO Zhao Changpeng admit intentional violations, facilitating billions in unregulated crypto transactions. Zhao resigns as CEO, faces potential 18-month sentence. Legal battles continue over sentencing and extradition. Binance.US claims independence from Zhao's governance.
CaptainXBinance faces $34 billion in fines from FinCEN and $9.68 billion from OFAC for not reporting over 100,000 suspicious transactions involving terrorism, ransomware, child exploitation, and other illegal activities. Future penalties and strict regulations may impact Binance for the next five years.
CaptainXThe speculation triggered a slump of over 3% in BNB price and around 1% for BTC price.
OthersSBF believes that CZ must be happy with how it turned out for FTX.
BeincryptoChangpeng Zhao says disgraced former FTX CEO Sam Bankman-Fried is a “master manipulator” who “perpetuated a narrative” against him.
dailyhodlHe initiated a $1 billion industry recovery fund to help crypto companies.
Beincrypto