- 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.
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 hacker who stole $570 million from Binance last year had a portion of their stolen funds liquidated after the Venus community voted in favor of a governance proposal enabling the liquidation, and the attacker's position was manually liquidated for $52.3 million when the price of Binance Coin dropped.
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.
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.
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, the world's largest cryptocurrency exchange, is considering a complete withdrawal from the Russian market due to complications and potential violations of Western sanctions.
Binance, the world's largest cryptocurrency exchange, is considering a complete withdrawal from the Russian market due to complications and potential violations of Western sanctions.
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 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 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 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.
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.
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.
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.
A small number of Binance users in Europe are unable to withdraw euros due to the upcoming end of support from the exchange's regional payments provider, Paysafe, which claims that Binance is responsible for customer-facing issues.
Binance and its CEO Changpeng Zhao have filed a motion seeking the dismissal of the SEC lawsuit, claiming that the regulator overstepped its authority and failed to provide clear guidelines for the crypto sector.
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 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 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.
