According to Reuters, Guangying Chen, a top executive at Binance, controlled five bank accounts of the company’s independent U.S. subsidiary from 2019 to 2020. Bank records show that Silvergate Bank authorized Chen as the Primary Admin User of the accounts, including one that held American customers’ funds and an account for corporate clients. During this
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Binance CEO Changpeng Zhao has revealed that regulatory requirements were the reason behind the company’s withdrawal from the Canadian market. Binance announced on May 12 that it would be “proactively withdrawing from the Canadian marketplace” due to new crypto exchange regulatory guidance on stablecoins and investor limits. In an AMA Twitter Spaces, CZ gave a
Binance has announced that it will delist privacy coins for users in certain jurisdictions effective June 26. The crypto exchange said that it had reached out to affected users to inform them that they will no longer be able to purchase or trade privacy tokens on its platform after the aforementioned date. This move is
Binance’s recent announcement to delist certain privacy coins, including Secret (SCRT), Zcash (ZEC), and Dash (DASH), has caused backlash from the three projects. In response to the move, a representative from Dash argued that their network is not focused on privacy and that it is simply a fork of Bitcoin. They explained that all transactions
Peer-to-peer cryptocurrency exchange, Paxful, has announced the appointment of Roshan Dharia as its interim CEO. Dharia, who previously served as a senior executive at TrustToken, will be tasked with strengthening operations and exploring strategic alternatives. In a statement, Dharia expressed his excitement about taking on the role and building on the innovative technology developed by
OKX, a cryptocurrency exchange, has sent over $8.3 million worth of digital assets to Alameda Research over the past seven days. The transfers were made in multiple transactions on May 29 and involved various cryptocurrencies, including Wrapped Bitcoin, Celsius, Shiba Inu, MakerDAO, Chiliz, DAI, Axie Infinity, Magic Internet Money, and others. The top five transfers
The US Securities and Exchange Commission (SEC) has reached a settlement with two individuals, Ishan Wahi and his brother Nikhil Wahi, who were involved in an insider trading scheme at Coinbase. Ishan Wahi, a former product manager at Coinbase, allegedly informed his brother and his friend about upcoming Coinbase listings before they were known to
BKEX, a cryptocurrency exchange, has suspended withdrawals after it was discovered that funds on its platform were involved in money laundering. The exchange made an announcement on May 29th stating that it was working with law enforcement agencies to gather evidence and was fully cooperating with the regulatory investigation. Users Question BKEX’s Actions Several users
Binance, a leading cryptocurrency exchange, has announced that it will stop Bitcoin spot trading activities with the Australian dollar from 1 June. In addition, the exchange will remove spot trading activities for other top cryptocurrencies, including Ethereum, XRP and Dogecoin, paired with AUD on the same day. Binance’s users can still trade the affected assets
Heimdall, a provider of business tokenization solutions, has partnered with OPNX to launch a bankruptcy tokenization product. This product offers an alternative to the lengthy bankruptcy administration process that can take several years to resolve. It enables users with funds frozen on defunct platforms to access liquidity. Celsius, a cryptocurrency platform, was the first to