How Binance CEO Changpeng Zhao and aides plotted to dodge regulators in U.S. and UK
2 years, 2 months ago

How Binance CEO Changpeng Zhao and aides plotted to dodge regulators in U.S. and UK

The Hindu  

As 2022 dawned, Changpeng Zhao was riding high. After this article was published, Zhao said in a blog post that he "personally rejected" the 2018 plan to insulate Binance from U.S. regulators. Two weeks earlier, Zhao told an interviewer that Yi He had been "integral to Binance's success" and would be an "integral part of our continued growth." Zhao's personal assistant issued a guide on how to use one messaging service, called Keybase, instructing employees not to use their Binance email address to register, and listing Keybase's "automatic self-erasing messages" as a benefit. Around a week later, Binance's chief financial officer at the time, Wei Zhou, messaged executives to say "we have started planning" on setting up the Tai Chi entity in the coming weeks.

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History of this topic

Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering
7 months, 3 weeks ago

Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering

Associated Press  

SEATTLE — Changpeng Zhao, founder of the world’s largest cryptocurrency exchange, was sentenced Tuesday to four months in prison for looking the other way as criminals used the platform to move money connected to child sex abuse, drug trafficking and terrorism. “I deeply regret my failure, and I am sorry.” But the judge said he was troubled by Zhao’s decision …

The Crypto Queen Pulling the Strings at Binance
1 year ago

The Crypto Queen Pulling the Strings at Binance

Live Mint  

U.S. authorities toppled the king of crypto. Since Zhao resigned last month, Yi He, 37 years old, has assumed Zhao’s mantle as Binance defender-in-chief, calling critics “mediocre and hopeless" on X, the site formerly known as Twitter. Yi He recruited volunteers called Binance Angels to spread Zhao’s gospel that crypto would liberate people from traditional finance. The Binance spokesperson said …

Binance, CEO Zhao to seek dismissal of US watchdog’s complaint
1 year, 4 months ago

Binance, CEO Zhao to seek dismissal of US watchdog’s complaint

Al Jazeera  

Binance and its CEO and founder Changpeng Zhao are planning to seek the dismissal of a US Commodity Futures Trading Commission complaint accusing the crypto exchange of violating the United States Commodity Exchange Act and certain related federal regulations. The CFTC in March sued Binance, the world’s biggest crypto exchange, and Zhao for operating what the regulator alleged was an …

Binance, SEC agree to allow only US employees to access customer funds: Report
1 year, 6 months ago

Binance, SEC agree to allow only US employees to access customer funds: Report

Live Mint  

US securities regulator, Binance and Binance.US have entered into an agreement that allows Binance.US employees to ccess customer funds in the short term, reported Reuters on basis of court documents. The agreement noted that Binance US will take steps to make sure that no Binance Holdings officials have access to private keys for its various wallets, hardware wallets or root …

Crypto giant Binance controlled ‘independent’ U.S. affiliate’s bank accounts
1 year, 6 months ago

Crypto giant Binance controlled ‘independent’ U.S. affiliate’s bank accounts

The Hindu  

A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. Juvvadi said an investigation Binance.US conducted into Reuters’ previous findings found they were “simply not true.” Reuters also reported on May 23 that Binance commingled its customers’ …

World's largest crypto platform Binance charged by US regulator
1 year, 6 months ago

World's largest crypto platform Binance charged by US regulator

India TV News  

The largest crypto trading platform in the world, Binance.com, and its founder, Changpeng Zhao, have been charged by a US regulator with a variety of securities law violations. The US' Securities and Exchange Commission in a statement on Monday said Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion …

U.S. SEC sues Binance, founder Zhao alleging securities law violations
1 year, 6 months ago

U.S. SEC sues Binance, founder Zhao alleging securities law violations

The Hindu  

The world's largest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Securities and Exchange Commission on Monday for failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls, as well as for operating an unregistered securities exchange. The SEC’s complaint, filed in federal court in Washington, D.C., …

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit
1 year, 6 months ago

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit

NPR  

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit Enlarge this image toggle caption Patricia De Melo Moreira/AFP via Getty Images Patricia De Melo Moreira/AFP via Getty Images U.S. regulators are targeting more giants in the world of crypto. On Monday, it filed 13 charges against Binance, which operates the world's top crypto exchange, as well …

US regulator sues top crypto exchange Binance, CEO
1 year, 8 months ago

US regulator sues top crypto exchange Binance, CEO

Al Jazeera  

The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao are being sued by the Commodity Futures Trading Commission in the United States for operating what the regulator alleges were an “illegal” exchange and a “sham” compliance programme. Binance’s compliance programme has been “ineffective” and the firm, under the direction of Zhao, told employees and customers to …

Crypto giant Binance offers little transparency after FTX collapse
2 years ago

Crypto giant Binance offers little transparency after FTX collapse

Live Mint  

The collapse of the crypto exchange FTX has triggered calls for transparency in the industry. Binance.US told the Journal at the time that the exchange had robust data protection and that U.S. customer data was stored on servers in the U.S. “Binance does not operate in China nor do we have any technology, including servers or data, based in China," …

Explained: How the collapse of FTX is giving Binance a chance to become the new face of crypto
2 years ago

Explained: How the collapse of FTX is giving Binance a chance to become the new face of crypto

Firstpost  

Binance began taking steps in the past year to scrub its reputation as a shadowy giant with no headquarters that doesn’t always follow the rules. “I need your help for the sake of the industry and users.” Zhao, founder of Binance, the world’s largest cryptocurrency exchange, initially agreed to provide a loan and buy FTX to save it. “They were …

U.S. federal prosecutors sought records on Binance CEO Changpeng Zhao for cryptocurrency money laundering probe
2 years, 3 months ago

U.S. federal prosecutors sought records on Binance CEO Changpeng Zhao for cryptocurrency money laundering probe

The Hindu  

U.S. federal prosecutors asked Binance, the world's largest cryptocurrency exchange, to provide extensive internal records about its anti-money laundering checks, along with communications involving its chief executive and founder Changpeng Zhao, according to a late-2020 written request seen by Reuters. The Justice Department's money laundering section asked Binance to voluntarily hand over messages from Mr. Zhao and 12 other executives …

IT Employee to Among World's Top Richest: Know Binance Founder's Inspiring Story
2 years, 7 months ago

IT Employee to Among World's Top Richest: Know Binance Founder's Inspiring Story

News 18  

Changpeng ‘CZ’ Zhao’s story is similar to those of other entrepreneurs, except it is different. The co founder and chief executive officer of Binance, the world’s largest cryptocurrency exchange, has showed a new path for crypto business aspirants, who say he inspires them. The euphoria has also found a place to nest, in the middle eastern country of the United …

UK's NatWest caps transfers to crypto exchanges over concerns of fraud
3 years, 5 months ago

UK's NatWest caps transfers to crypto exchanges over concerns of fraud

Hindustan Times  

Britain's Natwest Group has capped the daily amount customers can send to cryptocurrency exchanges, including major platform Binance, because of concerns over investment scams and fraud, a spokesperson told Reuters on Tuesday. The temporary cap, imposed by one of Britain's domestic biggest lenders on June 24, targets a number of exchanges and digital asset firms. The temporary cap, imposed by …

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