- 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.
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.
Cryptocurrency exchange Binance is discontinuing its crypto-backed debit card service in Latin America and the Middle East, affecting less than 1% of its users in those regions, without stating a reason for the decision.
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.
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.
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.
Despite Visa's announcement and warnings from Binance's CEO, major cryptocurrencies such as Bitcoin and Ethereum are struggling in a bearish trend while a top Federal Reserve official expresses deep concern over the $120 billion stablecoin market.
Binance US's CEO has left the company as it faces regulatory challenges and job cuts, with its global market share shrinking to 0.6%.
Binance.US CEO departs and workforce is reduced as the crypto exchange faces pressure from regulatory actions, while BitMEX launches a prediction market and FTX amends its crypto asset sale proposal.
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.
Trading activity on Binance.US has reached new lows in September, with exchange volume dropping significantly amidst executive departures and ongoing regulatory scrutiny.
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.
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 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.
The departure of Binance.US CEO Brian Shroder, along with layoffs and a significant outflow of funds, highlights the ongoing issues of influence and trust in the cryptocurrency industry. Trust and regulation are key factors that crypto platforms need to address to gain the same level of trust as traditional banks.
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'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 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.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.
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.
Binance is discontinuing its crypto-powered Visa debit card in Europe, prompting customers to transition to Binance Pay.
Binance challenges the U.S. Commodity Futures Trading Commission's attempt to regulate cryptocurrency activities, arguing that the CFTC is exceeding its authority and trying to control global derivatives trading.
Binance CEO Changpeng Zhao's net worth has dropped by $11.9 billion, resulting in an 82% decrease, as trading volumes on the exchange decline and lawsuits from regulatory authorities continue.
