- 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.
Binance, the world's largest cryptocurrency exchange, caused confusion by mistakenly announcing on social media that euro transactions were no longer available, but it was clarified that euro transactions will continue until September 25th with Binance's banking partner in the region. However, the exchange is currently facing legal troubles and difficulties in various countries, making it challenging to find alternatives.
Binance US is reportedly reconsidering its decision to discontinue fiat on- and off-ramp services and is working on integrating new US dollar on-ramp solutions, potentially partnering with payment provider MoonPay to allow users to buy and sell cryptocurrencies in dollars.
### Summary
Binance introduces Binance Pay in Brazil, facilitating the adoption of major cryptocurrencies like XRP, Shiba Inu, and Bitcoin; Ripple executives Brad Garlinghouse and Chris Larsen provide trial availability for 2024; Shiba Inu hits a new adoption milestone with an increase in SHIB holders.
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.
Binance, the world's largest crypto exchange, has banned Russia-based users from trading in all currencies except the ruble due to a U.S. Justice Department investigation into possible violation of financial sanctions on Russia.
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.
Cryptocurrency exchange Binance is experiencing the departure of two key executives in the Russian market, raising questions about the company's future in the region amidst regulatory challenges and potential sanctions.
Binance.US CEO Brian Shroder leaves as the crypto exchange downsizes its workforce due to regulatory pressures, including a lawsuit from the SEC.
Binance.US has lost two more high-level executives, Head of Legal Krishna Juvvadi and Chief Risk Officer Sidney Majalya, following the departure of CEO Brian Shroder amid increasing regulatory scrutiny.
Binance.US is accused by the SEC of not cooperating in a probe and violating federal securities law by using a custody provider provided by its international arm, but the exchange claims that regulators are on a "futile fishing expedition" and asserts that customer assets are safe.
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.
The United States Securities and Exchange Commission (SEC) claims that wallet provider Ceffu is related to Binance, contrary to Binance's previous statements, in its latest court filing regarding its motion to compel against BAM, the holding company for Binance.US.
Binance.US faces continued legal struggles with the SEC, with accusations of noncooperation and low trading volume, while India works on crypto regulation and EU lawmakers vote in favor of a cryptocurrency tax reporting rule. Additionally, U.S. Representative Tom Emmer and co-sponsors reintroduce the CBDC Anti-Surveillance State Act to protect financial privacy.
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 and Changpeng Zhao are seeking to dismiss the SEC lawsuit against them, stating that the regulator has not proven securities-related violations and is overreaching its authority in the crypto industry.
Binance, the world's largest cryptocurrency exchange, is selling its Russian operations and fully exiting the country due to potential violations of war-related sanctions and incompatibility with its compliance strategy.
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.
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 will no longer accept new users from the UK due to compliance with crypto marketing rules, while existing users will have limited access to services.
Binance.US users can no longer withdraw dollars directly from the platform, instead they must convert funds to stablecoin or other digital assets to be withdrawn, as the exchange updates its terms of use amidst regulatory scrutiny from the SEC.
