1/14/2024 0 Comments Binance investigation![]() DOJ officials have discussed possible plea deals with Binance's attorneys.Some DOJ prosecutors believe evidence justifies filing charges against executives including CEO Zhao.The US Securities and Exchange Commission (SEC) has accused Binance and rival exchange Coinbase of offering unregistered securities in violation of federal laws, and lawsuits are ongoing.īinance suspended US dollar deposits on 9 June due to what it called “extremely aggressive and intimidating tactics in (the SEC’s) pursuit of an ideological campaign against the American digital asset industry".Įarlier this week, Binance’s Australian offices were searched by the country’s financial regulator as part of an investigation into the company’s now-closed derivatives business. These departures came as Binance’s US operations continue to hang in the balance. Last week, Binance was denied a custody licence in Germany that will substantially reduce the company’s expansion plans in the country.Įarlier in June, Binance exited the Dutch market after failing to successfully register as a virtual asset service provider (VASP) with the EU country. But the reasons dreamed up by the “news” are completely wrong.Īs an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months…įUD or not, Binance is undeniably in regulatory hot water. Yes, there is turnover (at every company). “We thank all of our ex-team members for their contributions to our growth, and wish them all the best.”Ĥ. Zhao continued: “As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months from founding (and HELD ON to that position ever since), we have been able to protect our users at all times and we have been extremely lucky to have some of the best talent the planet has to offer. But the reasons dreamed up by the “news” are completely wrong,” he tweeted. “Yes there is some turnover (at every company). FUD is an acronym for fear, uncertainty and doubt. Taking to Twitter, Binance head Changpeng ‘CZ’ Zhao called the negative press around the departures FUD. It was unclear whether Ling quit or was fired, though his LinkedIn profile states that he is still employed at Binance. In recent days, chief strategy officer Patrick Hillman announced his departure over Twitter, while Bloomberg reported that senior vice president for compliance Steven Christie and general counsel Hon Ng have also left.īloomberg’s sources also disclosed that Yibo Ling, Binance’s chief business officer, left in June after turning down a relocation request. Swathes of senior executives are fleeing Binance as US regulators turn up the heat on the world’s largest cryptocurrency exchange. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. Our human content creators are equipped with many decades of valuable expertise and experience. Proactive has always been a forward looking and enthusiastic technology adopter. ![]() The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. ![]() We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. ![]()
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