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 Arab Emirates, where crypto executives were seen alongside Wall Street banking executives, Emirati royals and influencers at Dubai’s premium Burj Al Arab hotel in late March. According to As per a Bloomberg report, following his suit, many are moving to UAE — the country Zhao describes as the “Wall Street of crypto” — to shift their bases there. With the crypto friendly policies of the UAE, topped by success of Binance founder Changpeng ‘CZ’ Zhao, is likely to make the country a crypto hub in the coming days.

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History of this topic

I was as explicit as I could be: Binance CEO on WazirX hack
3 weeks ago

I was as explicit as I could be: Binance CEO on WazirX hack

India Today  

Binance CEO Changpeng Zhao addressed WazirX’s $230 million hack from July 2024 on X, highlighting that Binance has no involvement in WazirX’s operations. Meanwhile, following the hack, WazirX founder Nischal Shetty claimed that compensation delays stemmed from Binance’s alleged control over the finances of WazirX’s parent company, Zanmai, whose unresolved acquisition deal caused a strained relationship between the two. Another …

Binance founder Changpeng Zhao sentenced to 4 months for money laundering: Who is ‘bitcoin Jesus’
7 months, 3 weeks ago

Binance founder Changpeng Zhao sentenced to 4 months for money laundering: Who is ‘bitcoin Jesus’

Hindustan Times  

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 to ignore …

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
11 months, 4 weeks 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 …

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 …

Binance CEO Changpeng Zhao Merit Peak Offshore Trading Firm Received Nearly $11 Billion In Client Assets, US SEC Claims
1 year, 6 months ago

Binance CEO Changpeng Zhao Merit Peak Offshore Trading Firm Received Nearly $11 Billion In Client Assets, US SEC Claims

ABP News  

According to a recent filing from the US Securities and Exchange Commission, Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received approximately $11 billion in client assets through a Seychelles-based firm established for customer deposits. As per a report by Reuters, the SEC's allegations include claims that Binance and Zhao utilised Merit Peak and another trading …

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 …

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 …

Binance mishandled funds and violated securities laws, according to SEC lawsuit
1 year, 6 months ago

Binance mishandled funds and violated securities laws, according to SEC lawsuit

Associated Press  

WASHINGTON — The world’s largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC. Binance is a Cayman Islands limited liability company founded by Zhao and the charges are familiar to practices uncovered after the …

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 …

Binance CEO Zhao says don't fight crypto, regulate it
2 years ago

Binance CEO Zhao says don't fight crypto, regulate it

The Hindu  

Binance Chief Executive Officer Changpeng Zhao said on Friday regulation rather than opposition of the crypto sector is a better option for world governments as digital currencies become more mainstream. Regulation of crypto currencies has come into sharp focus following the collapse of several platforms, culminating in the crash of the FTX currency exchange earlier this month. It's better to …

Binance Has a Cunning Plan to Save Crypto—but It’s Too Late
2 years, 1 month ago

Binance Has a Cunning Plan to Save Crypto—but It’s Too Late

Wired  

Few were prepared for the dramatic collapse of crypto exchange FTX on November 11. “The weak projects are gone, and the industry is much healthier.” Zhao, who goes by CZ, says he has a plan to navigate the fallout of the FTX saga and rebuild trust. With one of Binance’s main competitors no longer in operation, the company’s voice as …

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 CEO sees no threat to crypto from central banks' digital currencies
2 years, 1 month ago

Binance CEO sees no threat to crypto from central banks' digital currencies

The Hindu  

Plans by central banks to launch digital currencies are not a threat to other cryptocurrencies as they would validate blockchain technology and build trust among sceptics, the CEO of the world's largest crypto exchange, Binance, said on Wednesday. Most major central banks, including the U.S. Federal Reserve, the Bank of England and the European Central Bank, are studying the potential …

Binance CEO Changpeng Zhao says support for free speech is reason he invested in Twitter
2 years, 1 month ago

Binance CEO Changpeng Zhao says support for free speech is reason he invested in Twitter

The Hindu  

The chief executive of Binance, the world's largest crypto exchange, said he was "extremely supportive" of freedom of speech and that was the main reason why his company decided to invest $500 million into Elon Musk's buyout of Twitter Inc. Binance's Changpeng Zhao, known as CZ, who is an active Twitter user with over 7 million followers, said there were …

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 …

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 …

Binance to hire 2,000 employees even as other crypto exchanges cut jobs
2 years, 6 months ago

Binance to hire 2,000 employees even as other crypto exchanges cut jobs

The Hindu  

Binance on Wednesday said it plans to hire 2,000 people amid reports of other crypto exchanges letting their employees go. Zhao’s statement comes a day after crypto exchange Coinbase said it is laying off about 18% of its staff, nearly 1,100 employees, citing “economic downturn”. Other crypto exchanges which decided to lay off employees include BlockFi, which announced it would …

Crypto Exchange CEO Now Among World's Richest. Know his Journey Which Started with Poker
2 years, 11 months ago

Crypto Exchange CEO Now Among World's Richest. Know his Journey Which Started with Poker

News 18  

Binance CEO Becomes Rich: A cryptocurrency exchange CEO has turned heads by recently becoming one of the richest persons in the world, according to the Bloomberg Billionaires Index. Crypto pioneer Changpeng Zhao, who foundeed the exchange platform Binance, is now worth nearly $100 billion and stands at the 11th position on the Bloomberg Billionaires Index. Changpeng “CZ” Zhao, who runs …

Amid crypto’s Wild West, Binance says a sheriff is needed
3 years, 1 month ago

Amid crypto’s Wild West, Binance says a sheriff is needed

Associated Press  

NEW YORK — The cryptocurrency market gets likened to the Wild West by critics, and now a key player is asking for sheriffs to come to town. “This year, most of the regulators around the world are looking at crypto intently, and many of them are communicating with us,” Zhao said. When it gets to a certain scale, acknowledge that …

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