Nigeria’s Federal Inland Revenue Service (FIRS) has dropped tax evasion charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla. Instead, the agency will focus solely on the exchange itself. Alexander Onukwe, a Nigerian Journalist for Semafor, citing an e-mailed statement from Gambaryan’s representative, reported: “FIRS to revise charges to serve solely on Binance through its […]
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Binance Coin (BNB), the native token of the world’s largest crypto exchange Binance, recently hit an all-time high of $725 on June 6th, the first week of exchange founder Chagpeng Zhao’s (CZ) four-month prison sentence in the US. According to a Bloomberg report, this price rally for the Binance Coin has made CZ the richest […]
Ahmad Shadid stepped down as CEO of the Solana-based DePIN Protocol io.net on Sunday. The decision came two days before the launch of io.net’s token, IO. As a result, the crypto community was skeptical of the decision and the former CEO’s past. Related Reading: If Ethereum Fails, Blame The ‘ETH Elite’, Not Solana: Industry Leader […]
Community members are currently trying to trace the Gemholic contract creator’s address, which is supposedly funded by Binance.
A group of more than 100 former US federal prosecutors has urged the United States government to intensify efforts to secure the release of Binance executive Tigran Gambaryan from Nigerian custody, according to a June 6 letter. Gambaryan, Binance’s head of compliance, and his colleague Nadeem Anjarwalla were detained in Nigeria in February following a […]
The post Former US prosecutors demand action on Binance exec’s detention in Nigeria appeared first on CryptoSlate.
Centralized exchanges are the primary gateways for traders to buy and sell crypto. Despite the significant rise in popularity and usage of decentralized exchanges (DEXs) in the past year, CEXs still facilitate most crypto trades. As such, they provide the foundational infrastructure for market liquidity and price discovery. Understanding their health and performance is important […]
The post Despite heavy outflows, CEXs continue to be pillars of liquidity appeared first on CryptoSlate.
Gambaryan and another company exec, Nadeem Anjarwalla, were detained by Nigerian officials after they were invited by the country to resolve a dispute with the crypto exchange
The post Binance Not Liable for User’s $1M Loss, It Was Due To Compromised Device appeared first on Coinpedia Fintech News
Binance co-founder has addressed allegations over a security breach that led to a user losing $1 million in crypto. Yi He clarified that the user’s account was accessed via a compromised computer and the crypto hacker had sold the victim’s cryptocurrency after gaining access, which resulted in trading losses, and that Binance’s security systems were …
Binance will ease European users’ transition from unauthorized to regulated stablecoins with a “sell-only” strategy.
Binance founder Changpeng “CZ” Zhao has reported to a federal prison in California where he will spend the next four months for failing to implement an adequate know-your-customer (KYC) program at the world's largest cryptocurrency exchange.
The post Breaking! Binance Ex-CEO Changpeng Zhao Imprisoned in California appeared first on Coinpedia Fintech News
As per CNBC Reports, Binance Ex-CEO Changpeng Zhao has been imprisoned in Lompoc, California. The News was confirmed by his defense team at Latham & Watkins. In April, the United States federal court in Seattle sentenced Changpeng Zhao to four months after he pleaded guilty to violating money laundering laws. The former CEO of Binance …
Football icon Cristiano Ronaldo is rolling out a new NFT collection with Binance commemorating different stages of his illustrious career.
Certain on-chain signs point to a potential white hat, or ethical hacker, looking for blockchain vulnerabilities.
Binance, the world’s largest crypto exchange by volume has executed another large-scale Terra Classic (LUNC) burn, continuing its supporting role for the Terra Classic ecosystem. Despite the substantial supply reduction, the price of LUNC and its daily trading volume have been falling significantly. Binance Burns LUNC Tokens On May 23, Binance initiated another LUNC burn […]
A Nigerian High Court has adjourned the money laundering trial against Binance and its executive Tigran Gambaryan to June 20 because of the executive’s health concerns, according to a May 23 statement from the Economic and Financial Crimes Commission (EFCC). The EFCC reported that the defense counsel, led by Mark Mordi, informed the court of […]
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Gambaryan missed a court appearance on tax evasion charges but attended the money laundering trial on the same day.
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 […]
The post CME gears up to launch spot Bitcoin trading, challenging Binance’s dominance appeared first on CryptoSlate.
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.