Press Releases News Today TheBitTimes.com

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...

SEC's recent charges against crypto exchange Kraken over its staking program have sent tremors through the crypto industry. Members of the crypto community are seemingly outraged over the recent charges laid against crypto exchange Kraken in relation to its staking-as-a-service program in the United States.  On Feb. 9, the United States Securities Exchange Commission (SEC) announced it had settled charges with Kraken over “failing to register the offer and sale of their crypto asset staking-as-a-service program,” which it claims is qualified as securities under its purview. Kraken agreed to settle the charges by paying $30 million in fines and to immediately cease the staking services to U.S. retail investors, though it would continue to be offered offshore. The move appears to have attracted the ire of not only the general crypto community, but also of investors, politicians, and industry executives. Cinneamhain Ventures partner and Ethereum bull, Adam Cochran called out SEC chie...