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Despite Binance Holdings Ltd.’s recent $4.3 billion settlement with the U.S. Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC) is persisting with its case against the company and its founder, Changpeng Zhao. SEC says Binance, DOJ settlement supports case The SEC filed a lawsuit in June, claiming that Binance and Zhao were involved in deception, conflicts of interest, lack of disclosure, and evading the law. The SEC contends that admissions in the DOJ settlement support its case, urging the federal court in Washington to consider them. While Binance and Zhao seek dismissal, the SEC is determined to move its case forward. In the U.S. District Court for the District of Columbia, the SEC’s complaint alleges that Binance.com and Binance.US operated as unregistered exchanges, brokers, and clearing agencies, exposing investors to risks and conflicts of interest. SEC Chair Gary Gensler also alleges that Binance misled investors about risk controls...

This week, Binance agreed to a $4.3 billion settlement and saw founder Changpeng Zhao exit as CEO; the U.S. SEC levels charges against Kraken; and HECO Bridge, another venture affiliated with Justin Sun, suffered an $85 million hack. Binance troubles On Nov. 20, the U.S. Department of Justice (DoJ) proposed a $4 billion settlement with Binance, addressing allegations related to money laundering and sanction violations. Binance founder Changpeng Zhao resigned due to the criminal charges. Uncertainty regarding extradition emerged, as Zhao currently resides in the United Arab Emirates. Binance’s influence within the crypto sector is still undeniable; Blur’s recent listing on Binance, for example, triggered an upward move in its price. The aftermath Meanwhile, Binance’s BNB token plummeted 9.2% in 24 hours. Binance also witnessed outflows amounting to $1.3 billion in a seven-day period amid the reports. In a Nov. 23 report, CryptoQuant confirmed that some of these fu...

Binance CEO Changpeng Zhao said famous economist Nouriel Roubini used his company’s logo without permission for promotional purposes. This statement refers to the Atlas project, in which Roubini holds the position of chief economist and co-founder. It promotes an investment strategy “based on artificial intelligence, machine learning, climate technology and blockchain”, according to the project’s website. Some people are shameless. After attacking Binance publicly on stage a year ago, now issues a token and puts #Binance logo on their website WITHOUT permission. pic.twitter.com/WENaTO4tE4 — CZ Binance (@cz_binance) November 7, 2023 Project clients are offered to earn money by investing in climate-resistant real estate and infrastructure, environmentally friendly goods, as well as short-term and inflation-indexed sovereign bonds and gold. On the official website, Binance is mentioned along with BlackRock, Goldman Sachs and the U.S. Department of the Treasury i...

Binance’s chief strategy, Patrick Hillmann, who joined back in 2021, tweeted that he’s leaving the office on “good terms”. A source familiar with the matter also stated that Steven Christie, senior vice president for compliance, and Hon Ng, general counsel, have also left. Eleanor Hughes will take the role of the new general counsel at Binance.US , said the source. advertisement According to information from LinkedIn, Binance had around 600 employees in the US. In June, during midyear performance reviews, some of these employees were asked if they would be willing to move to a different location. Those who declined were reportedly let go from their positions. As per the source, Binance’s chief business officer Yibo Ling has left the company’s US office. CZ Calls Binance.US Departures A FUD Binance chief Changpeng Zhao has called the news under the latest departures as “FUD”, an acronym for fear, unrest, and do...