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Global cryptocurrency exchange Binance paid one of the largest corporate fines in history for challenging the financial and political status quo in America, according to Arthur Hayes. Go to Source
Pending a review of a motion filed by the U.S. government, the former Binance CEO will not be allowed to return to his home in the United Arab Emirates as he awaits sentencing. Go to Source
Richard Teng became CEO of crypto exchange Binance after Changpeng Zhao agreed to step down as part of a settlement with the U.S. Department of Justice announced on Nov. 21. Go to Source
According to the U.S. Sentencing Guidelines, CZ could receive a 12-18 month sentence, but the Department of Justice is willing to fight for a longer term. Go to Source
The former Binance CEO speculated X’s bot detection algorithm “needs some work” after the platform implied he “potentially violated the X Rules” by changing his profile name. Go to Source
U.S. prosecutors are pushing for CZ to stay in the country, saying they “would not be able to secure his return” if he’s allowed back to Dubai. Go to Source
Changpeng Zhao is out at Binance, but his company lives on. That suggests tacit affirmation from the Biden administration of the crypto industry’s legitimacy. Go to Source
Many on Twitter compared the Binance settlement with the U.S. Department of Justice to the deal with BitMEX crypto exchange, whose then-CEO was also forced to step down. Go to Source
Former Binance CEO CZ sent a letter to employees after he stepped down, assuring employees the company would be fine, and quoting a famous Star Trek line as he closed. Go to Source
U.S. government agencies have spent months, sometimes years, investigating Binance in the lead-up to unsealing an indictment against the exchange. Go to Source
