CHANGPENG ZHAO SENTENCING
Canada fines Binance $4.38 mln for money laundering violations
Canada's anti-money laundering agency on Thursday said it had imposed a nearly C$6 million ($4.38 million) fine on cryptocurrency exchange Binance for violating the money laundering and terrorist financing laws.
Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering
Zhao pleaded guilty in November to one count of failing to take required anti-money-laundering measures and stepped down as Binance agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao deliberately looked the other way as people conducted transactions that supported child sex abuse, the illegal drug trade and terrorism.
Binance's Changpeng Zhao sentenced to four months in prison over money laundering violations
Former Binance CEO Changpeng Zhao ('CZ'), 47, sentenced to four months in prison by U.S. District Judge Richard Jones in Seattle, becoming the second major crypto boss sent to prison.
Binance CEO Zhao faces sentencing over money laundering violations
Ex-Binance CEO Changpeng Zhao may receive an extended sentence for violating U.S. money-laundering laws. Prosecutors seek deterrence. Legal expert Robert Fisher surprised. Sam Bankman-Fried faces 25 years for $8 billion theft, appealing his conviction.
US seeks 36 months in jail for Binance founder Changpeng Zhao
Binance's founder, Changpeng Zhao, may serve 36 months in prison for money laundering violations. U.S. prosecutors push for this sentence due to the firm's ties to terrorist groups, child abuse materials, and large fines.
Sam Bankman-Fried appeals FTX fraud conviction, 25-year sentence
Facing a 25-year prison term, Sam Bankman-Fried has appealed his conviction for stealing $8 billion from FTX customers. The ex-billionaire crypto wunderkind's downfall involved fraud charges and commingling assets.
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Crypto reg far more bankable, certified
FTX founder's fraud sentencing underlines US crypto regulation push. Bitcoin market cap rises with ETFs. Bankman-Fried's conviction impacts crypto market, reducing manipulation scope. Global regulations reshape crypto transition to asset class.
Binance tightens token-listing process as regulators keep close watch
Crypto projects seeking to list tokens on Binance must now agree to a significantly longer so-called “cliff period” during which no coins can be sold, set aside more coins for market makers and make a security deposit, said people with knowledge of the matter, who asked not to be identified discussing confidential information
Binance tightens token-listing process as regulators keep close watch
Crypto projects seeking to list tokens on Binance must now agree to a significantly longer so-called “cliff period” during which no coins can be sold, set aside more coins for market makers and make a security deposit, said people with knowledge of the matter, who asked not to be identified discussing confidential information. The changes started taking effect late last year, the people said.
Binance must face revived investor lawsuit in US over crypto losses
In a 3-0 decision, the 2nd US Circuit Court of Appeals in Manhattan said investors in the proposed class action plausibly alleged that domestic securities laws applied because their purchases of tokens had become irrevocable in the United States once they paid for them.
US judge approves Binance's $4.3-billion guilty plea
US District Judge Richard Jones in Seattle approved the plea, which includes a $1.81 billion criminal fine and $2.51 billion of forfeiture, about an hour after the government proposed changes to Binance founder Changpeng Zhao's bond, drawing an objection from Zhao's lawyers.
Binance's former chief Changpeng Zhao to stay in US until February sentencing
Last month, Binance Holdings agreed to pay over $4.3 billion and pleaded guilty to breaking US anti-money laundering and sanctions laws. Zhao also pleaded guilty and faces a maximum prison sentence of 18 months under federal guidelines and has agreed not to appeal any sentence up to that length.
US judge signs off on Binance, former chief Changpeng Zhao's plea deals with DOJ
In November, Binance agreed to pay over $4.3 billion and pleaded guilty to breaking US anti-money laundering and sanctions laws. Zhao also pleaded guilty and awaits sentencing in February.
Former Binance CEO Changpeng Zhao must stay in US for time being, rules judge
Zhao, who is a citizen of Canada and the UAE, stepped down as CEO of Binance last week after pleading guilty to willfully causing the exchange to fail to maintain an effective anti-money laundering program.
Ex-Binance CEO Changpeng Zhao urges judge to allow him to leave US before sentencing
Zhao, a citizen of the UAE and Canada, stepped down as CEO of Binance on Tuesday after pleading guilty to willfully causing the global cryptocurrency exchange to fail to maintain an effective anti-money laundering program.
US prosecutors want Binance's Changpeng Zhao to remain in US until sentencing
The US Justice Department on Wednesday urged the judge to require Zhao to stay in the United States and prevent him from returning to the United Arab Emirates before his sentencing.
Binance CEO resignation shows crypto industry is maturing: Experts
Following Zhao's news, pressure on major cryptocurrencies increased, resulting in the overall crypto market cap falling below $1.4 trillion on Wednesday. However, on Thursday's trade, the crypto market cap bounced back and surged nearly 3% to $ 1.42 trillion.
Binance sees $956 million in outflows after Zhao steps down to settle US probe
"Binance is not entirely out of the woods. The ongoing civil lawsuit with the SEC remains a concern for the exchange, which (is) likely to result in further fines," wrote Robert Le, a crypto analyst at data firm PitchBook.
Binance sees $956 million in outflows after Zhao steps down to settle US probe
Investors pulled about $956 million from crypto exchange Binance over the past 24 hours, market data showed, after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty on Tuesday to settle a years-long U.S. illicit finance probe.
Binance founder Changpeng Zhao pleads guilty to violating money laundering rules
Changpeng Zhao, the founder of Binance, the largest cryptocurrency exchange in the world, pleaded guilty to money laundering violations, the government said Tuesday, a stunning blow to the most powerful and influential figure in the global crypto industry.
Sam Bankman-Fried's trial reveals inside details of how FTX died
While the broad contours of FTX's failure are publicly known, the trial has opened a window into high-stakes conversations that unfolded in secret at Bankman-Fried's headquarters in the Bahamas. Witness accounts of those behind-the-scenes discussions have elicited some of the trial's most emotional moments.
Who's rooting hardest for a Sam Bankman-Fried conviction?
Eleven months after FTX's implosion sent an already declining cryptocurrency market into a doom spiral, Bankman-Fried's trial is set to reopen wounds that have barely had time to heal in the crypto industry.
Crypto: What governments around the world are doing to regulate the rapidly growing digital assets
Cryptocurrency is a modern-day juggernaut. Its global market was valued at $2,191.25 million in 2022 in the Cryptocurrency Market Report by Polaris Market Research, with an expected Compound Annual Growth Rate (CAGR) of 11.6 per cent from 2023 to 2032. Additionally, NFTs reached a global market size of $18.47 billion in 2021, with a projected CAGR of 34.1 per cent until 2030, in NFT Market Report by the same source.
US sought records on Binance CEO for crypto money laundering probe
The December 2020 request, which has not been previously reported, was part of a Justice Department investigation into Binance's compliance with US financial crime laws that remains ongoing, four people familiar with the inquiry said.
Moving beyond cryptocurrencies: Why decentralised finance is the new buzzword
The Supreme Court’s move to lift an RBI ban on cryptocurrencies has shifted the focus to decentralised finance. These virtual currencies can change the way the banking and finance sector works.
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