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CZ Banned From Managing Binance For Life: Major Shift for Crypto Exchange
Former Binance CEO Changpeng 'CZ' Zhao has permanently lost the right to manage the platform under a settlement with U.S. authorities, though he keeps his shareholder rights. Key points: Lifetime ban: CZ can no longer manage or operate Binance. Shareholder status: He remains Binance's largest shareholder. CEO Richard Teng: Confirmed CZ's limited future involvement. Plea......
Binance Launches BNSOL: A New Chapter for Solana Staking?
Binance has teased "BNSOL," sparking speculation about a new staking product for Solana ($SOL) on the platform. Key points: Binance announces $BNSOL: A Liquid Staking Token powered by the decentralized Sanctum protocol. Unlocking liquidity: $BNSOL might allow stakers to unlock liquidity while still earning rewards. Impact on Solana: Binance's entry into Solana staking could boost......
Binance Achieves 19th Global Regulatory Milestone, Re-Enters India
Crypto exchange Binance has received its 19th global regulatory milestone as it re-enters the Indian market. According to the details from an official announcement, Binance has registered as a reporting entity with India’s Financial Intelligence Unit (FIU-IND). Key points: Binance re-enters the Indian market. India marks its 19th global regulatory milestone. Binance registers as a......
Binance Contests $86 Million Tax Notice from India: Report
In one of the latest developments between India and Binance's Tussle, the exchange has reportedly challenged India's tax notice. Key points: Binance received an $86 million tax showcause notice from Indian authorities The notice covers alleged tax evasion from July 2017 to March 2024 Binance reportedly earned over $476 million in transaction fees from Indian......
SEC vs. Binance: Legal Battle Intensifies as Regulator Seeks to Amend Complaint
According to the details from a recent court filing, the SEC has signaled its intention to amend its original complaint against Binance and its founder, Changpeng Zhao. As per the details, the regulator might also drop its charges against Solana (SOL) and Polygon (MATIC) tokens. Key points: SEC plans to file a motion to amend......
Golem Moves 36,000 Ethereum to Binance And Coinbase Amidst Market Uncertainty
Golem has transferred a substantial amount of Ethereum (ETH) to various cryptocurrency exchanges over the past month. Golem is one of the most prominent Ethereum Initial Coin Offering (ICO) projects. Key points: Golem transferred 36,000 ETH (approximately $115 million) to exchanges in 37 days. The project still holds 157,360 ETH, valued at about $530 million.......
U.S. Lawmakers Urge Nigeria To Drop Charges Against Binance Executive
United States lawmakers French Hill and Chrissy Houlahan recently paid a visit to the detained Binance executive in Nigeria. In one of his recent tweets, Hill underscored the pathetic condition that Tigran Gambaryan is going through in the Nigerian prison. https://twitter.com/RepFrenchHill/status/1803898800966091087 The drama between Binance and the Nigerian government has been going on for a......
India Slaps Binance with $2.2 Million Fine Over AML Violations
Binance has been slapped with a fine of approximately $2.2 million (18.82 crore INR) by India's anti-money laundering unit. The fine is for providing services to Indian clients without complying with the country's anti-money laundering (AML) regulations. The announcement was made by the Financial Intelligence Unit (FIU) on Thursday. The penalty comes after Binance and......
BNB Soars to New All-Time High Despite Binance’s Struggle In Nigeria
BNB, the native token of Binance, has reached a new all-time high. The coin has surged by 11.8% in the past 24 hours. The fourth-largest cryptocurrency by market cap climbed to a record-breaking price of $708. The recent pump has pushed the price above its previous all-time high of around $690, set in May 2021.......
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: Tigran Gambaryan, Binance's Head of Compliance, has been detained in Nigeria......
