Results For: Binance

Published: June 11, 2023   |   Last Updated: June 19, 2023
Found 450 Results
Page 1 of 45
May 17, 2024

Binance Executive Denied Bail in Nigeria Amid Money Laundering Trial

A Nigerian court has denied the bail application of Tigran Gambaryan, a detained Binance executive. The court cited concerns that he may attempt to evade trial. The spokesperson for Gambaryan’s family announced the decision on Friday, coinciding with the executive’s 40th birthday. Key points: Gambaryan, along with Binance and its British-Kenyan regional manager for Africa, …...

May 16, 2024

Binance Develops Algorithm to Combat Address Poisoning Scams

Binance has taken a major step towards combating the growing threat of address poisoning scams by developing an innovative algorithm. The exchange’s security team has created a unique method to identify and flag millions of poisoned crypto addresses. Key points: Also read: Tornado Cash Developer Appeals Money Laundering Conviction Scammers use address poisoning as a …...

May 10, 2024

Binance Registers With India’s Financial Intelligence Unit

The world’s largest crypto exchange, Binance, and its rival, KuCoin, have been registered with India’s Financial Intelligence Unit (FIU). This marks the first time that offshore crypto-related entities have been approved by India’s anti-money laundering unit. Key points: The registration of Binance and KuCoin with the FIU is a significant milestone for India’s crypto industry. …...

May 9, 2024

Binance Slapped with $4.3 Million Penalty by Canadian Regulator

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed a substantial administrative monetary penalty on Binance. On May 7, 2024, FINTRAC issued a penalty of $4.3 million for Binance’s non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations. Key points: Also read: Consensys CEO Joseph …...

May 9, 2024

Binance Fires Employee Who Discovered Evidence of DWF Labs Market Manipulation

The Wall Street Journal has reported that cryptocurrency exchange Binance fired a member of its market surveillance team who had uncovered evidence of market manipulation by DWF Labs, a high-profile client.  Key points: According to interviews with current and former Binance employees, documents, emails, and other industry participants, the market surveillance team had been tasked …...

April 24, 2024

Former Binance CEO Changpeng Zhao Pens Apology Letter to U.S. Judge

In a letter addressed to U.S. District Judge Richard A. Jones of the Western District of Washington, Changpeng Zhao, the former CEO of Binance apologized for his “poor decisions” and accepted full responsibility for his actions. The letter, filed on Tuesday, comes as Zhao awaits sentencing for his role in enabling Binance to violate federal …...

April 24, 2024

Binance Founder Changpeng Zhao Should Face 3-Year Prison Sentence: DOJ

The U.S. Department of Justice (DOJ) has recommended that Changpeng “CZ” Zhao, the founder and former CEO of Binance, spend three years in prison.  The DOJ recommended a 3-year prison sentence for Zhao due to his role in enabling the cryptocurrency exchange to violate federal sanctions and money laundering laws. In a sentencing memo filed …...

April 20, 2024

Nigerian Court Adjourns Binance Tax Evasion Trial to May 17

A Nigerian court has adjourned the tax evasion trial against cryptocurrency exchange Binance and two of its executives until May 17. BusinessDay, a local news platform, reports that the decision followed a procedural standoff because the exchange has not yet received formal charges. The absence of one executive and the ongoing detention of another have …...

April 18, 2024

Binance Set to Re-Enter India After Paying $2 Million Penalty: Report

Binance, the world’s largest cryptocurrency exchange, is reportedly preparing to make a comeback in India after being banned by the government in January. According to a report by the Economic Times of India, the exchange is set to pay a penalty of approximately $2 million. Additionally, sources familiar with the matter stated that the exchange …...