- 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.
Binance customers in Europe are facing difficulties with fiat withdrawals due to issues with SEPA transfers, as the exchange has temporarily suspended euro withdrawals and deposits via SEPA while it works to resolve the problem.
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 US Department of Justice (DOJ) is reportedly investigating whether cryptocurrency exchange Binance has violated US sanctions against Russia by facilitating ruble-to-crypto trades, adding to existing allegations of market manipulation and anti-money laundering violations, which could have significant implications for the broader cryptocurrency ecosystem.
Cryptocurrency exchange Binance will suspend its crypto debit card services in Latin America and the Middle East without providing a specific reason, impacting less than 1% of users in those regions.
Cryptocurrency exchange Binance plans to update its zero-fee Bitcoin trading program on September 7, potentially leading to a market downturn similar to what happened after the program was discontinued in March.
Mastercard and Visa will end their partnerships with crypto exchange Binance, discontinuing their crypto card offerings in several countries by September 2022.
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 has severed ties with five sanctioned Russian banks on its peer-to-peer service due to a system update to comply with regulatory standards and sanctions rules, amidst ongoing legal challenges faced by the exchange.
Binance, the world's largest cryptocurrency exchange, claims that its investigations team helped identify and apprehend senior members of the ISIS branch, ISKP, in Tajikistan and Turkey through intelligence gathered by monitoring a popular Telegram channel used by ISIS members and tracing the crypto wallet address of a terrorist leader.
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.
Cryptocurrency exchange Binance has imposed restrictions on its peer-to-peer trading platform, banning Russian residents from using fiat currencies other than the Russian ruble and requiring Russian KYC verification and residency for ruble transactions, possibly in response to Western sanctions or new fiat currency restrictions imposed by the Russian government.
Cryptocurrency exchange Binance is gradually ending support for its BUSD stablecoin, asking users to convert their BUSD into other assets by February 2023, and delisting it as a loanable asset on September 6, following a regulatory clash with Paxos and ongoing legal issues with US regulators.
Binance's head of product, Mayur Kamat, has announced his departure from the exchange, citing the need to pass on the product leadership role to the next generation and take some time off after two years of non-stop work, amid increasing 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.
Crypto exchange Binance is expanding its zero-fee trading promotion to include Argentine, Brazilian, and South African currency spot trading pairs, allowing users to trade bitcoin, ether, and Tether's USDT stablecoin without paying maker fees.
Binance has seen the departure of 10 key executives, Nasdaq has received approval to trade AI-based orders, former FTX CEO Sam Bankman-Fried's bail has been denied, and Grayscale has asked the SEC to discuss the conversion of its Bitcoin fund to an ETF; Bitcoin is at $25,871, Ether is at $1,635, and XRP is at $0.50.
The top crypto exchanges in the world are dominating the market, with the eight largest platforms accounting for over 91% of market depth and 89% of trading volume, according to crypto insights firm Kaiko. Binance remains the leading exchange, with a market share of 64.3% in 2023, but liquidity is concentrated within a few exchanges, leading to concerns about decentralization. Altcoin liquidity has also suffered due to regulatory issues in the US, with Coinbase, Kraken, and Bitstamp holding the majority of altcoin liquidity.
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 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.
Trading activity on Binance.US has reached new lows in September, with exchange volume dropping significantly amidst executive departures and ongoing regulatory scrutiny.
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.
Cryptocurrency exchange Binance plans to delist stablecoins in the European market by June 2024 to comply with MiCA regulations, potentially impacting the market in Europe compared to the rest of the world.
