- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year.
- The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support.
- Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers.
- The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny.
- Binance.US had received a $4.5 billion valuation from investors last year.
- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year.
- The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support.
- Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers.
- The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny.
- Binance.US had received a $4.5 billion valuation from investors last year.
- Changpeng Zhao, CEO of Binance, is determined to sever all ties with the U.S.
- Zhao has reportedly pushed to shut down Binance.US, the American branch of the global exchange.
- This decision highlights Zhao's commitment to preserving the reputation of Binance, the world's largest exchange.
- Binance.US declined to comment on the matter.
Main topic: Checkout.com terminates its relationship with Binance, citing regulatory concerns and inquiries from partners.
Key points:
1. Checkout.com, a credit card payments processor, has stopped servicing Binance, the world's largest crypto exchange.
2. The termination was based on reports of regulatory actions, concerns over Binance's anti-money laundering and compliance controls, and inquiries from partners.
3. Binance disagrees with Checkout.com's basis for termination and is considering legal action.
Additional hint on Elon Musk: This passage does not mention Elon Musk.
The head of Binance, Changpeng Zhao, is accused of using Bitcoin to support the price of Binance's BNB token amidst regulatory pressures, according to popular investors in the crypto community.
Binance CEO Changpeng Zhao dispelled rumors of internal chaos at Binance, explaining that the exchange is not selling its Bitcoin stash to protect the price of its native token, BNB, and that Binance did not fund BNB Chain's recent loan repayment.
Binance, the largest cryptocurrency exchange, has contacted low-liquidity token projects to enhance their liquidity protection by requesting details about their market makers and asking if they would contribute tokens to Binance savings pools.
Binance has lost business with Mastercard and Visa as traditional financial institutions become wary of working with the cryptocurrency exchange due to regulatory scrutiny and concerns over compliance within the crypto industry.
The US SEC has filed lawsuits against Binance and Coinbase, accusing them of various regulatory violations, leading to intense discussions about cryptocurrency classification as securities and causing a negative impact on the prices of many altcoins mentioned in the lawsuits.
Binance faces scrutiny over SEPA concerns, market manipulation allegations, and sanction violations, while regulators crack down on crypto-related crimes; meanwhile, scams and allegations of insider trading plague the crypto industry.
The US Securities and Exchange Commission has submitted a sealed motion in its case against Binance, prompting speculation about potential further negative developments for the cryptocurrency exchange.
The US Justice Department may have indicted or intends to indict Binance, as suggested by a motion filed by the United States Securities and Exchange Commission (SEC) to file sealed documents in their civil case against Binance, strengthening the speculation of an ongoing criminal probe.
Binance CEO, Changpeng Zhao, remains confident in the face of regulatory challenges, stating that Binance is a stronger company now and is ahead of the game in terms of regulatory compliance, despite recent lawsuits and scrutiny from regulators.
Binance CEO dismisses concerns over executive departures, stating that they are moving into bigger roles outside of Binance and labeling reports as market FUD.
Binance is refunding users $1 million and implementing measures to prevent future incidents after users were unable to withdraw their CYBER Earn assets due to a cross-chain bridging issue.
Binance.US rejects claims made by the SEC, calling them unsubstantiated and maintaining that it has custody and control over its digital assets, in response to the SEC's request for depositions and further discovery.
Binance.US CEO Brian Shroder leaves as the crypto exchange downsizes its workforce due to regulatory pressures, including a lawsuit from the SEC.
Binance, the largest exchange in the world, has faced numerous challenges, including customer outflows, the winding down of its stablecoin, and legal issues, but is working to overcome these obstacles.
Binance US is facing significant staff layoffs and resignations, including the CEO, risk officer, and head of legal, amidst increasing regulatory pressure from the SEC.
A US district judge has ordered the unsealing of documents in the Securities and Exchange Commission's (SEC) lawsuit against Binance US, potentially shedding light on the agency's reasons for sealing the documents and its claims against the company's alleged uncooperative approach.
Binance.US and Ceffu are entangled in a legal dispute regarding the custody of American customers' assets, with both parties making contradictory claims about their relationship and control over funds.
A U.S. judge has declined to order Binance.US to make its executives more available for depositions or for the SEC to back down in its demands for more documents, instead urging the two parties to work together on discovery requests.
Binance CEO denies that Binance.US used custody software from its international counterpart in contradiction to previous statements made by the U.S. exchange, leading to confusion over the relationship between the two entities.
Bitcoin trading volumes on Binance, the world's largest crypto exchange, have plummeted by 57% amid lawsuits and regulatory scrutiny, while competitor Coinbase has seen a 9% increase in volumes over the same period.
Binance, the world's largest cryptocurrency exchange, is facing major staffing struggles and regulatory issues, with some calling for CEO Changpeng Zhao to step down. The company has experienced turbulence in the past, but its current challenges may indicate a dire situation.
Changpeng Zhao, CEO of Binance, denied being the owner of CommEX, the company that acquired Binance's business in Russia, following reports of a US Department of Justice investigation into sanctions violations; caution is signaled to bulls as the number of MKR tokens held in centralized exchanges has increased by 5%, potentially leading to price volatility; the European Commission has issued a contract seeking to mitigate the environmental impact of cryptocurrencies; credit card default rates have increased, suggesting decreased demand for risky assets like cryptocurrencies.
Binance's spot market share has continued to decline amid ongoing regulatory issues in the United States, with its market share dropping from 38.5% in August to 34.3% in September, according to analysis from CCData.
Binance's U.K. partner, Rebuildingsociety.com, is not allowed to approve crypto ads, according to the Financial Conduct Authority (FCA), potentially impacting Binance's compliance with new marketing rules.
Binance experienced a decline in liquidity and a crash in its ask depth after a false report of BlackRock's spot ETF approval, causing traders to face difficulties in buying and selling bitcoin compared to Kraken and Coinbase.
Binance experienced a decline in liquidity and a decrease in ask depth after a false report of BlackRock's spot ETF approval, causing traders to face slippage and lose money, while exchanges like Kraken and Coinbase performed better due to their market makers' relative sophistication.
Binance, the world's largest crypto exchange, may face legal obligations to return over $1.2 billion in customer funds to the bankruptcy estate of FTX, as testified by an accounting professor during the trial of former FTX CEO Sam Bankman-Fried for fraud. While Binance's assets are not primarily located in the US, there are potential implications for the exchange's access to US markets and courts.
