Binance

Detained Binance Executive Escapes Custody in Nigeria, Government t…

A senior executive at Binance, who was detained by Nigerian authorities in late February, has since escaped from custody. The executive Nadeem Anjarwalla is believed to have left the country using a Kenyan passport. The Nigerian government confirmed Anjarwalla’s escape and said it would ask Interpol to issue an international arrest warrant.

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US Court of Appeals Reverses Lower Court’s Ruling in Favor of Binance

The United States Court of Appeals has reversed a lower court’s ruling dismissing U.S.-based users’ damages claim against Binance. Aggrieved users will once again attempt to prove that their claims do not constitute an “impermissible extraterritorial application” of U.S. securities law.

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Binance Claims Ignorance of $10 Billion Fine Imposed by Nigerian Go…

  

Binance, a leading cryptocurrency exchange, has denied allegations made by a Nigerian government official that it is facing a $10 billion fine. While Binance maintains its commitment to fostering a positive relationship with the Nigerian government, it firmly states that it will not succumb to pressure to pay for the release of its detained executives.

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The Nigerian Government and Binance: The Way Forward — CMO of Flincap

  

The promise of the blockchain and cryptocurrency still remains strong. Globally, there continues to be growing interest in the blockchain and peer-to-peer exchanges. We are seeing the institutional adoption of crypto and a rise in interest in retail adoption, too.

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Nigerian Presidential Adviser Assails Binance, Calls for Measures A…

Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine the economy.

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US District Judge Sanctions Binance's $4.3 Billion Plea Deal

Binance Holdings is set to pay $4.3 billion in fines following the approval of its plea agreement with prosecutors by U.S. District Judge Richard Jones on Friday. Beyond the financial settlement, a third party will oversee Binance’s operations for a duration of five years.

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US Judge Urged to Approve Binance’s $4.3 Billion Plea Deal

A U.S. Federal Judge has been urged to accept a plea deal from U.S. authorities with the cryptocurrency exchange, Binance. Prosecutors, in a memorandum, have asserted that the agreed-upon sanctions are commensurate with the extent of Binance’s deliberate law violations.

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Binance’s Derivatives Arm Launches Tesla Model Y and Bitcoin Vouche…

Binance has announced a competition through its crypto derivatives arm, Binance Futures, offering participants the chance to win a Tesla Model Y. According to the crypto exchange, the contest will unfold over four weekly challenges spanning from Feb. 18 to Mar. 17, 2024.

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Binance Welcomes Back Steve Christie as Deputy Chief Compliance Off…

Binance has welcomed back Steve Christie, its former Senior Vice President of Compliance, as Deputy Chief Compliance Officer.

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Binance Freezes $4.2 Million in Stolen XRP; Ripple Investigation Ai…

After the unauthorized access of Ripple co-founder Chris Larsen’s personal holdings, Binance CEO Richard Teng revealed that the platform had successfully “managed to freeze $4.2 million” of the compromised assets. Teng elaborated that Binance is committed to “support[ing] Ripple in their investigations,” indicating ongoing collaboration.

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Study: Financial Losses on BNB Chain Due to Hacks and Scams Fell by…

In 2023, financial losses on the BNB Smart Chain due to exploits or breaches fell by 85% to $161.1 million, according to the findings of a new Avenger DAO study report. The study data also shows that Q2 of 2023 was the costliest quarter, with approximately $69.5 million lost across 127 incidents.

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Binance Assigns Monitoring Tag to Privacy Coins, Including Monero a…

Binance, the largest cryptocurrency exchange, has recently announced that it will start monitoring ten new projects, including privacy blockchains like Monero, Firo, Mobilecoin, and Zcash. Binance reported that these projects might be delisted in the future, failing to meet the criteria required by the exchange to keep being traded on its platform.

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Former SEC Official Warns of the End of Binance — 'It’s Only a…

The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that the newly unsealed Department of Justice (DOJ) filing should “signal the end of Binance.” Additionally, he noted that the SEC has heightened its legal action against the crypto exchange.

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Crypto Exchange Binance Drops Abu Dhabi License Application as Glob…

Crypto exchange Binance has withdrawn its application for a license in Abu Dhabi. “When assessing our global licensing needs, we decided this application was not necessary,” a Binance spokesperson stated, adding that the company plans to continue to work with regulators “to provide world-class services and offerings in the Middle East and beyond.”

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Judge Greenlights Plea Deal in High-Profile Binance Case; CZ Faces…

  

A U.S. federal judge has endorsed the plea deal agreed upon between the U.S. government and Changpeng Zhao, the founder of Binance, widely known as “CZ.” Judge Richard Jones approved the plea in a recent court document, setting the sentencing for February 2024.

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Arthur Hayes: CZ and Binance Were Punished for Challenging the Pax…

Arthur Hayes, the former CEO of Bitmex, has explained what he thinks led to the billionaire settlement between Binance, its former CEO Changpeng ‘CZ’ Zhao, and the U.S. Department of Justice (DOJ). He detailed that the growth of Binance, a structure that was outside the control of the economic and political establishment of the Pax Americana, led to the historic deal.

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Binance CEO Richard Teng Outlines the Path Ahead; Puts Innovation,…

Richard Teng, the new CEO of Binance, has explained his vision for the company, outlining the challenges the exchange faces ahead and the areas on which the company will focus. In a blog post, Teng explained that innovation, users, and Web3 will be at the forefront of Binance in the new era of the company.

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Former Binance CEO CZ Seeks to Dismiss Government's Motion Blocking…

Former Binance CEO Changpeng Zhao (CZ) is seeking to dismiss the U.S. government’s motion to prevent him from going home to the United Arab Emirates (UAE) before sentencing. Despite the judge determining that the ex-Binance boss poses no flight risk after he voluntarily appeared in court to plead guilty, the government is pushing for a restriction on his return home before sentencing.

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DOJ Announces $4.3 Billion Settlement With Binance; CZ to Step Down…

The United States Department of Justice (DOJ) has revealed a landmark settlement involving Binance, the world’s largest crypto exchange by trading volume. Under the agreement, Binance will pay $4.3 billion to settle with the law enforcement authority.

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Binance Faces $4 Billion Demand From US Justice Department to Settl…

Cryptocurrency exchange Binance is reportedly facing a $4 billion demand from the U.S. Department of Justice (DOJ) in order to settle a criminal case. The Justice Department has been investigating Binance on allegations related to money laundering, bank fraud, and sanctions violations.

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Binance Client Executives Kidnapped, Forced to Empty Crypto Wallets…

Binance CEO Changpeng Zhao (CZ) has shared a story of how executives of a Binance client were abducted and forced to empty their crypto wallets. CZ detailed how the cryptocurrency exchange was able to track the transactions and freeze over 94% of the stolen funds.

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Binance Launches High-Yield USDT Earning Program Amid Fierce Market…

This week, Binance, the world’s leading crypto exchange by trading volume, announced the introduction of a tether (USDT) earning program with up to a 13% annual percentage yield (APR). Binance’s USDT earn product joins a slew of other digital currency trading platforms offering yield services for stablecoin assets.

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Binance Appoints New Regional Head for Eastern Europe and Central Asia

Binance’s General Manager for Central and Eastern Europe, Kyrylo Khomiakov, will take responsibility for Central Asia as well. His promotion comes after the crypto exchange’s top executives in the region left the company last month, part of a string of executive exits at Binance this year.

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Binance to Sunset Visa Crypto Card as 2023 Sees Decline in Digital…

Several reports have revealed that Binance, which is recognized as the leading crypto exchange by trading volume, intends to discontinue its Visa crypto card on December 20, 2023. The enterprise emphasized that only a “small number of Binance users” would be affected by this development.

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Binance Stops Accepting New Users in UK to Comply With Crypto Regul…

  

Binance has announced that it will no longer accept new users in the U.K. in order to comply with new crypto regulations from the Financial Conduct Authority (FCA). Binance explained that it is currently looking for an FCA-authorized firm to review and approve its U.K. financial promotions in compliance with the new rules.

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Binance Launches 'Send Cash' Remittance Services in Latam

Binance, the largest cryptocurrency exchange by volumes traded, has announced the launch of “Send Cash,” a Latam-focused remittance service. The newly launched tool will allow users in nine countries in the region to send crypto to bank accounts of friends or family in Argentina and Colombia directly, bypassing third-party intermediaries.

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Binance to Gradually Phase Out Support for BUSD Stablecoin

The world’s largest cryptocurrency exchange by global trade volume, Binance, has announced it is discontinuing support for the stablecoin asset BUSD. The trading platform is encouraging users to swap their BUSD as Binance gradually phases out BUSD markets.

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Binance Renames Russian Bank Cards Amid US Sanctions Probe, Report

Crypto exchange Binance has replaced the names of cards issued by Russian banks with colors, Russian media revealed amid reports of a U.S. investigation into potential sanctions violations. The changes concern the ruble exchange feature on Binance’s peer-to-peer platform.

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Binance Plans to Halt EUR Withdrawals via SEPA Amid Third-Party Pay…

Numerous sources have indicated that Binance, the largest crypto exchange by global trading volume, has temporarily halted EUR withdrawals and deposits through SEPA due to challenges with a third-party payment facilitator. However, a post published by Binance’s customer support team at 12:21 p.m. (ET) on Monday notes the service will officially halt on September 25, 2023.

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Nigerian Association of Money Changers Calls for Banning of Binance

The leader of Nigeria’s Association of currency exchangers has accused the crypto giant Binance of helping to worsen the local currency’s woes and asked authorities to consider banning the platform. The leader suggested that the optimism which ensued after Tinubu’s government floated the naira has now given way to pessimism.

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