Both former television hosts, Binance’s Yi He and Bitget’s Gracy Chen, currently lead the world’s largest crypto exchanges by volume.
The First District Court of Appeals in Florida has nullified an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US, according to a court filing on May 22. Earlier this year, Florida’s regulator banned Binance.US from serving its residents, citing “immediate danger” to the public as the reason for its decision. […]
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A Nigerian High Court has denied bail to Binance executive Tigran Gambaryan, citing concerns that he might flee the country. Gambaryan, who turned 40 today, has been held by the Nigerian government since February. Speaking on his detainment, Noah Perlman, Binance’s chief compliance officer, said: “On this very unhappy birthday, a reminder that Tigran Gambaryan […]
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The post Binance Battles Address Poisoning Scams with New Algorithm appeared first on Coinpedia Fintech News
In response to the rising threat of address poisoning scams, Binance has launched a new algorithm to fight them. This smart solution detects fake addresses and warns users before they get scammed. Let’s see what it means and how it works. Understanding the Scam Using advanced security mechanisms, Binance has recognized millions of fake addresses …
The Chicago Mercantile Exchange (CME) is gearing up to introduce spot Bitcoin trading, responding to the growing demand for the leading digital asset on Wall Street, the Financial Times reported on May 16. CME is the world’s largest futures BTC trading medium and has been in talks with crypto traders to establish a regulated marketplace […]
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While the reason behind the three hour, system-wide outage remains unknown, some users are still unable to transfer or withdraw their funds from the exchange.
According to the latest report, the United States Department of Justice (DOJ) has granted the three-year monitorship of Binance to consulting firm Forensic Risk Alliance (FRA). This appointment is part of the exchange’s plea deal with the Justice Department last year. In November 2023, Binance entered into a plea deal with the DOJ related to […]
The post U.S. State Department Investigates After Binance Executive Detained in Nigeria appeared first on Coinpedia Fintech News
A Binance executive from America was held hostage in Nigeria, facing a bribe demand of $150M. The officer, Tigran Gambaryan, stayed captive for 70 days and was charged with tax evasion and money laundering. His colleague escaped, but he got arrested near Prince Harry and Meghan’s tour location in Nigeria. The US State Department said …
The post Unveiling Binance’s Hidden Layers: FRA Takes Charge in Explosive Oversight Role appeared first on Coinpedia Fintech News
As per the latest reports, the U.S. Department of Justice has sidelined Sullivan & Cromwell and chosen Forensic Risk Alliance (FRA) to oversee compliance efforts at Binance Holdings Ltd. because of the former’s due involvement in the FTX bankruptcy case. FRA Takes Charge of Binance Monitorship The FRA has been successfully appointed over the initially …
Binance’s regulatory woes continue to mount as the world’s largest cryptocurrency exchange by trading volume has been fined C$6 million ($4.4 million) by Canada’s financial regulator, FINTRAC. The penalty was imposed due to Binance’s alleged failure to comply with money-laundering protections, specifically related to registering as a foreign money services business and reporting virtual currency […]
Binance, one of the world’s largest cryptocurrency exchanges, has come under scrutiny after a Wall Street Journal report revealed that the platform fired its top investigators following their allegations of wash trading involving a top VIP client, DWF Labs. Binance Refutes Wash Trading Allegations The report alleges that DWF Labs conducted over $300 million in […]
FINTRAC reported that Binance facilitated 5,902 separate transactions of $10,000 or more in crypto from June 2021 to July 2023 and failed to register with the regulator.
Both firms deny any involvement in the allegations brought forth by The Wall Street Journal.
Canadian regulators hit Binance with a C$6 million ($4.3 million) fine on Tuesday, alleging the crypto exchange committed two separate “administrative violations” of the country’s financial regulations.
The post Binance Officials Respond to Market Manipulation Allegations Alongside DWF Labs’ Wash Trading Activities appeared first on Coinpedia Fintech News
Binance has been under the spotlight of controversy ever since harsh allegations of market manipulation involving DWF Labs were placed against the company. Reports were released claiming that committed significant wash trading activities worth $300 million have been conducted in the last year by DWF Labs. After seeing such allegations, several key figures in charge …
Binance CEO Richard Teng recently denounced the Nigerian authorities’ abuse of power and mistreatment of the crypto exchange executives, including still-detained Tigran Gambaryan. Teng considers it’s time to highlight the implications of the saga between the crypto exchange and the Nigerian regulators on behalf of the business community. Related Reading: SEC Chair Gensler: Crypto Represents […]
In a significant move into the digital asset space, British banking app Revolut has unveiled Revolut X, a dedicated crypto trading platform for UK retail customers. According to a Fortune Magazine report, the launch of the new platform signifies Revolut’s commitment to the crypto industry and positions the company to compete with major players like […]
SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing.
Binance CEO Richard Teng says the Nigerian government has set a dangerous precedent after inviting company executives to meetings before detaining them.
The post Tigran Detained!? Binance CEO Demands Release of Employee in Nigeria appeared first on Coinpedia Fintech News
Binance Holdings Ltd. CEO Richard Teng has taken a bold stance, demanding the release of Tigran Gambaryan, detained by the Nigerian government for over 70 days. Teng asserts Gambaryan’s innocence, calling the detention a scapegoat strategy. In a strongly worded blog post, Teng condemns the Nigerian government’s actions, labeling them as setting a perilous precedent …
Nigeria’s SEC is set to launch a new regulatory framework for crypto exchanges and custodians “in the coming days.”
The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.
A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.
Binance's lawyer needed more time to look at evidence from Nigeria's Economic and Financial Crimes Commission.
Shorting Bitcoin on Binance and Coinbase is akin to a high-stakes gamble where mastering margin trading and futures contracts is key to tilting the odds in your favor.
The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.
His four-month sentence was vindication for the Binance founder’s legal strategy.
Former Binance CEO Changpeng Zhao said the crypto industry has entered the next phase where “compliance is super important.” The convicted founder made this statement after being sentenced to four months imprisonment for breaking US compliance rules. Zhao said: “I will remain a passive investor (and holder) in crypto. Our industry has entered a new […]
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Judge Richard Jones said he spent the weekend pouring over the voluminous letters of support for the ex-CEO of Binance until the book they were contained in literally fell apart.
Binance founder and former CEO Changpeng "CZ" Zhao will learn how much time, if any, he'll spend in prison Tuesday.