Binance moved $346 mln for seized crypto exchange Bitzlato, data show
1 year, 10 months ago

Binance moved $346 mln for seized crypto exchange Bitzlato, data show

Live Mint  

Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by U.S. authorities last week for allegedly running a "money laundering engine," blockchain data seen by Reuters show. Binance, the world's largest crypto exchange, was among Bitzlato's top three counterparties by the amount of bitcoin received between May 2018 and September 2022, the U.S. Treasury's Financial Crimes Enforcement Network said last week. It said the others to transact with Bitzlato were the Russian-language darknet drugs marketplace Hydra, a small exchange called LocalBitcoins and a crypto investment website called Finiko, which FinCEN described as "an alleged crypto Ponzi scheme based in Russia." However, one former U.S. banking regulator and one former law enforcement official said Binance's status as one of the top counterparties would focus Justice Department and U.S. Treasury attention on Binance's compliance checks with Bitzlato.

Justice Data Money Crypto Department Million Russian Reuters Justice Department Fincen Binance Hydra Laundering Exchange Bitzlato Chainalysis Localbitcoins Finiko  crypto  mln  department  justice  data  fincen  exchange  binance  seized  346  money  million  laundering  moved  bitzlato

History of this topic

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 …

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History
1 year, 1 month ago

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History

Live Mint  

The king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. Hours earlier, Zhao and his company, Binance, agreed to plead guilty to resolve a Justice Department criminal investigation that has dogged the world’s largest cryptocurrency exchange almost since its launch. Zhao also bowed to pressure in September from the DOJ to sell …

CZ Has Left Binance, SBF Is in Jail. Crypto Is About to Get Boring
1 year, 1 month ago

CZ Has Left Binance, SBF Is in Jail. Crypto Is About to Get Boring

Wired  

The world’s largest crypto exchange, Binance, and its founder, Changpeng Zhao, pleaded guilty yesterday to criminal charges in the US, releasing a wave of pent-up tension that had hung over the crypto industry for years. Under his leadership, Binance grew to become by far the world’s largest crypto exchange, but frequently clashed with regulators in the US and elsewhere. The …

Why Binance, the world’s largest crypto exchange, has been linked to Hamas
1 year, 1 month ago

Why Binance, the world’s largest crypto exchange, has been linked to Hamas

Firstpost  

Binance has been accused by the US government of ‘willfully’ failing to report over 100,000 suspicious transactions from several militant groups, such as Hamas’ military arm, Al Qaeda, ISIS and others. Treasury Secretary Janet Yellen said Binance was guilty of “consistent and egregious violations of US anti-money laundering and sanctions laws.” “Binance turned a blind eye to its legal obligations …

Largest crypto exchange Binance fined $4 billion, CEO Changpeng Zhao pleads guilty to not stopping money laundering
1 year, 1 month ago

Largest crypto exchange Binance fined $4 billion, CEO Changpeng Zhao pleads guilty to not stopping money laundering

The Hindu  

The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. As part of the settlement agreement, the U.S. Treasury said Binance will be …

Who is Changpeng Zhao, Binance founder facing 18-month prison in historic $4.3 bn settlement?
1 year, 1 month ago

Who is Changpeng Zhao, Binance founder facing 18-month prison in historic $4.3 bn settlement?

Hindustan Times  

Changpeng Zhao, the founder and CEO of Binance, resigned from his position and pleaded guilty to violating US anti-money laundering laws. Binance founder and CEO Changpeng Zhao leaves federal court in Seattle, Tuesday, Nov. 21, 2023, after pleading guilty to violations of U.S. anti-money laundering laws. Changpeng Zhao, commonly known as CZ, is a Chinese-Canadian business executive and the founder …

Binance CEO pleads guilty, steps down from company. Who is Changpeng Zhao?
1 year, 1 month ago

Binance CEO pleads guilty, steps down from company. Who is Changpeng Zhao?

Live Mint  

Founder-CEO of Binance, the world's largest cryptocurrency exchange Changpeng Zhao, or CZ, as he is fondly known by crypto enthusiasts, has stepped down from his role after pleading guilty to breaking US anti-money laundering laws, as per a Reuters report. Zhao agreed to a $4.3 billion settlement deal in a Seattle court on November 21, including a personal payout of …

Founder of Binance, world’s largest crypto exchange, pleads guilty to anti-money laundering charge
1 year, 1 month ago

Founder of Binance, world’s largest crypto exchange, pleads guilty to anti-money laundering charge

Hindustan Times  

The founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday to a felony charge that he failed to take steps to prevent money laundering as the company agreed to pay more than $4 billion following an investigation by the U.S. government. Binance CEO Changpeng Zhao CEO Changpeng Zhao pleaded guilty to one count of failure to maintain an …

Binance crypto exchange founder to step down amid US illicit finance probe
1 year, 1 month ago

Binance crypto exchange founder to step down amid US illicit finance probe

Al Jazeera  

Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has stepped down as CEO and pleaded guilty to violating anti-money laundering laws. “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed. “In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in …

CEO of world’s largest crypto exchange pleads guilty and agrees to $50-million fine
1 year, 1 month ago

CEO of world’s largest crypto exchange pleads guilty and agrees to $50-million fine

LA Times  

Binance CEO Changpeng Zhao has agreed to step down as part of a sweeping deal with the Justice Department designed to keep the company operating. Binance Holdings Ltd. Chief Executive Changpeng Zhao pleaded guilty to criminal charges of money laundering and U.S. sanctions violations, including allowing transactions with Hamas and other terrorist groups, under a sweeping deal worked out with …

The World’s Biggest Crypto Firm Is Melting Down
1 year, 2 months ago

The World’s Biggest Crypto Firm Is Melting Down

Live Mint  

After FTX crashed, the world of crypto seemed to belong to the largest exchange, Binance. The U.S. Justice Department has undergone a yearslong investigation that could result in criminal charges for Binance and Zhao as well as billions of dollars of fines, according to people familiar with the probe. Binance also faces a Securities and Exchange Commission lawsuit that alleges …

Why Binance, the world’s largest cryptocurrency exchange, is in trouble
1 year, 6 months ago

Why Binance, the world’s largest cryptocurrency exchange, is in trouble

Firstpost  

After the fall of FTX, now crypto giant Binance seems to be in hot water. Zhao and Binance publicly claimed that US customers were barred from transacting on Binance.com, but the platform “secretly” allowed high-value customers to keep trading, the SEC said. The agency said Binance’s chief compliance officer admitted that: “We do not want.com to be regulated ever.” From …

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 …

Binance moved $346 million for seized crypto exchange Bitzlato, data show
1 year, 11 months ago

Binance moved $346 million for seized crypto exchange Bitzlato, data show

Live Mint  

Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by US authorities last week for allegedly running a "money laundering engine," blockchain data seen by Reuters show. The Justice Department on Jan. 18 said it charged Bitzlato’s co-founder and majority shareholder Anatoly Legkodymov, a Russian national living in China, with …

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," …

One of Crypto’s Giants Just Fell
2 years, 1 month ago

One of Crypto’s Giants Just Fell

Slate  

Update, Nov. 9, 2022, at 4:32 p.m.: Binance has reportedly dropped its bid to acquire FTX, citing a due diligence review that revealed FTX’s “mishandled customer funds and alleged U.S. agency investigations.” “The issues are beyond our control or ability to help,” Binance told the Wall Street Journal. Tuesday morning—following reports that 1) FTX’s in-house token was crashing in value; …

Crypto billionaire Sam Bankman-Fried accepts buyout from Binance after liquidity crunch
2 years, 1 month ago

Crypto billionaire Sam Bankman-Fried accepts buyout from Binance after liquidity crunch

LA Times  

Crypto billionaire Sam Bankman-Fried, chief executive of FTX US Derivatives, looks around during a hearing by the House Agriculture Committee. A day before accepting the deal from Binance, Bankman-Fried said on Twitter that assets on FTX were “fine.” By Tuesday, he had changed his messaging. Binance said the agreement came after “a significant liquidity crunch” befell FTX and the firm …

Binance crypto exchange hit by latest digital currency hack
2 years, 2 months ago

Binance crypto exchange hit by latest digital currency hack

Associated Press  

Binance, the world’s largest cryptocurrency exchange, may have lost more than $100 million following a hack of its Binance Smart Chain blockchain network. A reddit post by Binance discussing the incident said that the company temporarily suspended transactions and the transfer of funds after detecting an exploit between two blockchains, a method of digital theft that has been used recently …

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 …

Explained | Binance: The crypto giant facing pressure from regulators
3 years, 4 months ago

Explained | Binance: The crypto giant facing pressure from regulators

The Hindu  

Financial regulators across the world have targeted major cryptocurrency exchange Binance. Here are answers to some key questions on Binance, the world's biggest exchange by trading volumes, as the regulatory pressure mounts. Binance also leads crypto derivatives trading, with volumes topping $1.4 trillion in July - a 55% share of the overall market. A string of other regulators - including …

WazirX Money Laundering Case: ED Issues Notice For Crypto Transactions Worth Rs 2,790 Cr
3 years, 6 months ago

WazirX Money Laundering Case: ED Issues Notice For Crypto Transactions Worth Rs 2,790 Cr

ABP News  

New Delhi: The famous cryptocurrency exchange WazirX, along with its directors Nischal Shetty and Sammer Hanuman Mhatre experienced a big blow on Friday in the form of a show cause notice by the Information Directorate, under Foreign Exchange Management Act, 1999,. The notice was issue regarding transactions involving cryptocurrency worth Rs 2,790.74 crore. The official twitter handle of ED on …

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