### 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 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.
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 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 believes that the recent court ruling on the investor suit against Uniswap is extremely positive for decentralized finance (DeFi), and he predicts that DeFi could surpass centralized finance (CeFi) in the next bull run.
Binance regional markets head Richard Teng asserts that despite regulatory scrutiny, the exchange is financially secure and distinct from bankrupt FTX, dismisses comparisons.
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 CEO Changpeng Zhao denies speculation surrounding the departure of Binance.US CEO Brian Shroder, stating that he is taking a break following a successful tenure at the company amid lawsuits from the SEC and CFTC, and assures that Binance has no liquidity issues.
Binance's U.S. entity, BAM Trading, is resisting the SEC's requests for documents pertaining to its business practices, calling them "overbroad" and an inconvenience, further escalating the legal battle between the two parties.
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.
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 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.
