Binance CEO Changpeng ‘CZ’ Zhao has refuted a recent report alleging that he received a $250 million loan from BAM Management, the company that serves as the holding entity for Binance.US. The development comes amidst Binance’s struggles with plunging trading volume as the world’s largest cryptocurrency exchange faces mounting lawsuits and increased regulatory scrutiny. CZ...Read More
It is safe to say that Binance US – the American subsidiary of the world’s leading cryptocurrency exchange – has passed through turbulent times, witnessing considerable customer withdrawals and diminished trading volume in the past several months. According to the market data provider Kaiko, weekly trade volumes on the platform have recently plunged to a...Read More
Binance CEO Changpeng Zhao (CZ) published a tweet re-encouraging followers to “ignore FUD” – this time surrounding rotating management at his exchange’s U.S. subsidiary, Binance.US. The statement follows three executive departures from the exchange this week, mimicking earlier, similar behavior from top brass at the international exchange. In his tweet, CZ noted speculation regarding recent...Read More
With about two weeks to go until the start of Sam Bankman-Fried’s trial, yet another trove of documents replete with everything from his early life to unverifiable attempts at exonerating himself has surfaced. Lots of Words, Little Substance Sticking to the tone of his lengthy – yet ultimately trite – substack posts and interactions with...Read More
CertiK has revealed transactions connecting the breaches at Atomic Wallet, Alphapo, CoinsPaid, Stake.com, and CoinEx that show Lazarus Group’s involvement in these exploits. This comes while the digital community is reeling from various cyber attacks that have affected several major Web3 entities. On-Chain Connections The infamous Lazarus Group, supported by North Korea, is still causing...Read More
A hedge fund manager whose firm was ravaged by FTX’s November collapse is now warning of a second-coming “implosion” at Binance. On Tuesday, Ikigai Asset Management founder Travis Kling published a historical timeline outlining a history of “negative events” at Binance since December 2022, attracting attention from some of the exchange’s top brass. How Binance...Read More
Changpeng Zhao – CEO of Binance – dismissed the speculation that the popular TV personality Jim Cramer declared his approval of the largest cryptocurrency exchange. Some crypto proponents joked that this is actually good news for the trading venue, considering Cramer’s controversial statements and predictions in the past. The host of CNBC’s “Mad Money” has...Read More
On Aug. 2, Changpeng “CZ” Zhao said he wanted to “share this (luckily) unsuccessful, but very clever and close scam incident from yesterday. It saved $20 million, he said before adding, “hope it may also save you one day.” Scammers are becoming more sophisticated, and their latest weapon is the generation of addresses with the...Read More
The Chief Executive Officer of Binance – Changpeng Zhao (CZ) – said one reason why his company recently introduced the stablecoin FDUSD is the terminated partnership with Paxos. While the two entities teamed up in 2019 to launch the USD-denominated BUSD, the New York state regulators told Paxos to stop minting new tokens earlier this...Read More
The world’s largest cryptocurrency exchange – Binance – will purportedly launch services on its new platform in Japan next month. The firm pulled out of the Land of the Rising Sun in 2018 after having a major dispute with the local regulators. Binance’s CEO – Changpeng Zhao (CZ) – has supposedly confirmed the news in a...Read More
Binance’s legal team filed a motion in an Illinois district court yesterday evening, notifying the judge presiding over the case that two separate requests to dismiss charges against Binance and CZ will be served on the 27th of July. Joint Motion, Along With One for Former Compliance Officer Although a single joint motion will be...Read More
The world’s largest cryptocurrency exchange – Binance – completed its 24th quarterly burn of its native token, burning 1,991,854 BNB. The development, carried out every three months, should help the company reduce the overall supply of the coin to 100 million. Binance informed that its most recent BNB burn equaled approximately $484 million. The process also...Read More
Several traditional media outlets reported recently that Binance, the world’s largest crypto exchange, has or will have to dismiss thousands of employees in the wake of its legal battle with US regulators. The company’s CEO confirmed the layoffs but disagreed with the “FUD” reported numbers of terminated staff members. CNBC, WSJ Reports Citing a person...Read More
Binance, the world’s largest cryptocurrency exchange, is celebrating its sixth anniversary today. In commemoration of the feat, the exchange’s founder and CEO, Changpeng Zhao (CZ), has reminisced on several events since the platform’s launch. In a statement sent to CryptoPotato, the CEO revealed that Binance was launched in 2017 with $15 million worth of digital...Read More
Changpeng Zhao – CEO of crypto exchange Binance – believes his company has formed “a tight team” partly due to the “Fear, Uncertainty, Doubt” (FUD) that surrounds it on a regular basis. The firm has been coping with regulatory issues with the US Securities and Exchange Commission (SEC), the Department of Justice (DOJ), and other...Read More
Changpeng Zhao (CZ), the CEO and founder of leading crypto exchange Binance, announced that his company’s users, assets, and platform were unaffected by the recent hack on the cross-chain router protocol Multichain. The Binance boss tweeted that the exchange had finalized all asset swaps and closed deposits a while before the incident occurred. Binance Unaffected...Read More
Noah Perlman – Chief Compliance Officer of Binance – said he will continue working at the world’s largest cryptocurrency exchange. The company has been coping with serious regulatory problems recently, while some top executives resigned from their posts. CEO Changpeng Zhao (CZ) confirmed the departures, but claimed they were not related to the lawsuits coming...Read More
A slew of senior executives at Binance are reportedly fleeing en masse as the company grapples with a massive lawsuit from the Securities and Exchange Commission (SEC) and a Justice Department investigation into its CEO Changpeng Zhao (CZ). One executive – former Chief Strategy Officer Patrick Hillman – has already confirmed his departure. Chaos In...Read More
Binance CEO Changpeng Zhao (CZ) explained on Wednesday why Binance spends time supporting cryptocurrencies and blockchains beyond those it chiefly develops. While the executive remained optimistic about the BNB Chain ecosystem, he said that he personally is a “heavy promoter of Bitcoin (BTC).” Are Binance’s Blockchain Centralized? In an AMA hosted over Twitter on Wednesday,...Read More
A low-profile but highly influential senior executive at Binance has spoken out as the company begins legal battles against two top market regulators in the United States. Yi He, who boasts a massive fortune as one of the company’s early shareholders, has also had children with Binance CEO Changpeng Zhao (CZ). The SEC Lawsuit He...Read More
While Binance is busy fighting a pitched legal battle in the U.S., its alleged woes in another part of the world seem to have been unfounded. Entity Previously Unknown to Binance Recently, the Nigerian SEC declared an entity known as Binance Nigeria Limited illegal, forbidding it from doing any business within the African nation. According...Read More
Changpeng Zhao, alongside another company spokesperson, refuted the recent reports from French media that Binance was under investigation in the country for alleged money laundering. The company’s CEO explained that such “surprise inspections” are the norm in the European country for both banks and now crypto businesses. According to the report from local media Le...Read More
Binance CEO Changpeng Zhao (CZ) has taken to Twitter to quash rumors that his crypto exchange had been selling its crypto holdings, including BTC and BNB. The speculation had been rife on social media, with some asserting that the company was involved in significant sales of digital assets. However, Zhao debunked the rumors, saying Binance...Read More
A week after the Securities and Exchange Commission (SEC) filed a civil enforcement action against Binance.US, the crypto exchange has hit back, stating that all of the regulator’s claims are invalid. Binance argued against the SEC for a temporary restraining order on the company, also known as BAM Trading, and said that such an action...Read More
The market took a beating over the past 24 hours, and certain altcoins performed a lot worse than others. A lot of the worst-performing cryptocurrencies were also named in the lawsuit that the US Securities and Exchange Commission filed against Coinbase. The agency alleges that they are securities. These include Cardano’s ADA, Solana’s SOL, NEAR,...Read More
Binance CEO Changpeng Zhao (CZ) has been issued a summons by the U.S. District Court for the District of Columbia following a lawsuit against himself and his exchange on Monday. The CEO must respond to the summons within 21 days, but is not required to appear in person. Other entities named in the lawsuit, including...Read More
Retail traders and investors are not the only ones suffering in America’s war on crypto. Company executives are also seeing their fortunes diminished due to recent enforcement actions. This week, the SEC sued both Binance and Coinbase, dousing the flames of optimism for the crypto industry in 2023 following the cycle bottom after FTX collapsed....Read More
Following increased regulatory action from the SEC and other local and global watchdogs, members of the crypto community have been worrying about the industry’s future relationship with the banking sector. Pivot to Europe in The Cards The restlessness surrounding future crypto regulation was amplified following the collapse of both Signature Bank and Silvergate Bank, both...Read More
Binance CEO Changpeng Zhao (CZ) published a tweet on Wednesday noting that China Central Television (CCTV) recently put out a broadcast related to digital assets. The executive claimed that similar coverage has served as a catalyst for crypto bull runs in the past. CZ provided a link to the broadcast which aired on May 23,...Read More
The world’s largest cryptocurrency exchange – Binance – claimed that someone had used ChatGPT to present Changpeng Zhao (CEO of the company) as an official in the Chinese Communist Party. Some experts have warned that the recent development in the Artificial Intelligence (AI) field could have a disruptive effect on journalism. Others alerted that ChatGPT...Read More
