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Tag: Changpeng Zhao

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC
4Dec By adminNo Comments
Money

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC

WASHINGTON—When top Biden administration officials gathered last month at the Justice Department to announce a $4.3 billion legal resolution with Binance, one powerful regulator was absent.Attorney General Merrick Garland was there. So was Treasury Secretary Janet Yellen. But Securities and Exchange Commission Chair Gary Gensler wasn’t, even though he has his own legal beef with Binance. The SEC sued the world’s largest cryptocurrency exchange in June and has been the regulatory scourge of the crypto world.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Why Stamping Out Crypto Bros Could Help Bitcoin
24Nov By adminNo Comments
Money

Why Stamping Out Crypto Bros Could Help Bitcoin

Such is the wackiness of the crypto world that a regulatory crackdown might actually revive investor optimism.Earlier this week, Binance Chief Executive Changpeng Zhao pleaded guilty to money-laundering violations and agreed to pay a criminal fine of $50 million. Then, his company will pay $4.3 billion to, among other things, settle civil allegations related to sanctions evasion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History
22Nov By adminNo Comments
World

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History

Updated Nov. 22, 2023 4:18 pm ETThe king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. But on Tuesday, a jittery Changpeng Zhao showed up in a Seattle federal court to plead guilty to violating U.S. money-laundering rules.“I’ve not caused problems before, I’ve never been a criminal. And I’ve never been into a courthouse before. So this is new to me,” Zhao told a judge.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History
22Nov By adminNo Comments
Money

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History

Updated Nov. 22, 2023 1:19 pm ETThe king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. But on Tuesday, a jittery Changpeng Zhao showed up in a Seattle federal court to plead guilty to violating U.S. money-laundering rules.“I’ve not caused problems before, I’ve never been a criminal. And I’ve never been into a courthouse before. So this is new to me,” Zhao told a judge.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Binance Founder Changpeng Zhao Steps Down, Pleads Guilty
22Nov By adminNo Comments
World

Binance Founder Changpeng Zhao Steps Down, Pleads Guilty

The chief executive of Binance, the largest global cryptocurrency exchange, stepped down and pleaded guilty to violating criminal U.S. anti-money-laundering requirements, in a deal that might preserve the company’s ability to continue operating, according to court documents.Changpeng Zhao appeared in Seattle federal court Tuesday and entered his plea, according to court records. Prosecutors accused Binance, which Zhao owns, of facilitating transactions with sanctioned groups. Binance encouraged U.S. users to obscure their location so the firm could avoid complying with U.S. anti-money-laundering laws, prosecutors said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Cryptocurrency: Changpeng Zhao, brawling titan of Binance, meets a sudden defeat
22Nov By adminNo Comments
Business

Cryptocurrency: Changpeng Zhao, brawling titan of Binance, meets a sudden defeat

Changpeng Zhao had long cultivated the image of the rugged pugilist of the cryptocurrencies world. When his rival Sam Bankman-Fried’s crypto empire collapsed a year ago, Zhao, or “CZ” as his fans call him, was in the middle of it all, yanking his money in a very public way and helping trigger the ultimately fatal run on the firms. Years earlier he claimed the company’s headquarters was wherever he happened to be, a thinly veiled salvo against regulators trying to nail down jurisdiction.And this March, when US regulators charged Zhao and his firm,Binance Holdings, with violating US securities laws, his on-line response was “4,” which is Zhao code for dismissing something as unworthy of his attention.On Tuesday, though, Zhao cut a very different image in a Seattle courtroom. Dressed in dark...
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Binance Founder Changpeng Zhao Steps Down, Pleads Guilty
22Nov By adminNo Comments
World

Binance Founder Changpeng Zhao Steps Down, Pleads Guilty

The chief executive of Binance, the largest global cryptocurrency exchange, stepped down and pleaded guilty to violating criminal U.S. anti-money-laundering requirements, in a deal that might preserve the company’s ability to continue operating, according to court documents.Changpeng Zhao appeared in Seattle federal court Tuesday and entered his plea, according to court records. Prosecutors accused Binance, which Zhao owns, of facilitating transactions with sanctioned groups. Binance encouraged U.S. users to obscure their location so the firm could avoid complying with U.S. anti-money-laundering laws, prosecutors said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Binance CEO Changpeng Zhao Agrees to Step Down, Plead Guilty
21Nov By adminNo Comments
Money

Binance CEO Changpeng Zhao Agrees to Step Down, Plead Guilty

The chief executive of Binance, the largest global cryptocurrency exchange, plans to step down and plead guilty to violating criminal U.S. anti-money-laundering requirements, in a deal that may preserve the company’s ability to continue operating, according to people familiar with the matter. Changpeng Zhao is scheduled to appear in Seattle federal court Tuesday afternoon and enter his plea, the people said. Binance, which Zhao owns, will also plead guilty to a criminal charge and agree to pay fines totaling $4.3 billion, which includes amounts to settle civil allegations made by regulators, the people said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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