Crypto platform Binance is being sued by U.S. regulators. They accuse the company of secretly coaching Americans how to get around U.S. rules. Bank stocks recover some ground after the failed Silicon Valley Bank got itself a buyer. But are we out of the woods yet? We ask an economist. Parts of Twitter’s source code…
NTD Business (March 27): Binance, CEO Sued by US Regulators; SVB Deal Offers Banking Sector Relief
Crypto Platform Binance Sued by CFTC Over ‘Secret Plot’ to Evade US Laws
The Commodity Futures Trading Commission (CFTC) has sued crypto platform Binance and several top executives, alleging that they offered unregistered crypto futures and other derivatives for trading in the United States in violation of U.S. laws and devised a “secret plot” to help customers evade restrictions. Binance stands accused of running a cryptocurrency derivatives-trading operation…
Crypto Investors Pull Billions Out of Binance’s Stablecoin After Regulator Crackdown
March 2, 2023
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Investors have been pulling billions out of Binance’s stablecoin after a securities regulator crackdown. The crypto exchange’s stablecoin, Binance USD (BUSD), has witnessed a massive outflow of $6 billion in cash by investors following the subjugation by the Securities and Exchange Commission (SEC) of Paxos, the company that issues the token, reported the Financial Times….
SEC, New York Regulator Oppose Binance.US $1 Billion Deal for Voyager
The U.S. Securities and Exchange Commission (SEC) and New York’s top financial regulator have opposed crypto exchange Binance.US’s $1 billion deal to buy bankrupt crypto lender Voyager, the latest in a string of U.S. regulatory moves against crypto firms. The Voyager deal may violate laws on the unregistered offer and sale of securities, the SEC…
Binance Faces Heavy Scrutiny as $22 Trillion Worth in Hidden Trades Are Found
December 19, 2022
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Binance, the world’s biggest crypto exchange, is under heavy scrutiny as $22 trillion worth in hidden trades were found, according to a recent report. The exchange is currently attempting to drum up confidence after a surge in customer withdrawals and a massive drop in the value of its digital token, BNB, has it facing a reliability…
FTX Collapse Heightens Anxiety Over Binance
After the FTX collapse, Binance co-founder and CEO Changpeng Zhao is grappling with challenges on numerous fronts. As the industry deals with the high-profile fallout from FTX, billions of dollars are fleeing Binance, one of the world’s largest cryptocurrency exchanges. Further, Zhao has recently come under fire for being responsible for the FTX’s collapse, and…
Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout
December 14, 2022
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Billions of dollars have flowed out of Binance, one of the leading cryptocurrency exchanges in the world, as the industry struggles with the high-profile fallout of FTX. Binance’s 24-hour net outflow hit $3 billion, according to a Dec. 13 tweet by blockchain data firm Nansen. The exchange reported more than $62.5 billion in disclosed holdings….
Crypto Executive Compares Sam Bankman-Fried to Ponzi Conman Bernie Madoff
November 18, 2022
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Crypto exchange Binance’s chief strategy officer Patrick Hillmann has compared Sam Bankman-Fried, CEO of the bankrupt crypto exchange FTX, to the infamous Ponzi scheme mastermind Bernie Madoff. In an interview with CNBC, Hillmann said that venture capitalists were attracted to Bankman-Fried’s persona and appearance of credibility. Bankman-Fried is either like Elizabeth Holmes, founder of the…
More Than a Million Creditors Could Be Affected by FTX Fallout
November 15, 2022
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The collapse of the FTX crypto exchange, which was valued at $32 billion at its peak, could end up affecting far more creditors than earlier estimated, according to a recent filing by the company. In its Chapter 11 bankruptcy filing last week, FTX indicated that it had more than 100,000 creditors with claims in the…
Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation
November 14, 2022
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Cryptocurrency exchange Binance is once more allowing deposits to be made in FTT tokens that are issued by rival exchange FTX, hours after prohibiting the activity. In a tweet on Nov. 13, Binance said that it had noticed “suspicious movement” of a large amount of FTT by the token’s contract deployers due to which it paused FTT…
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