After CFTC Lawsuit, Binance Experiences Significant Withdrawal
Binance experienced significant withdrawals following the US Commodity Futures Trading Commission (CFTC) suing the exchange and CEO Changpeng Zhao (CZ) for alleged trading and derivatives rule violations. Nansen data shows $400m in Ethereum-based funds withdrawn in 24 hours, and Coinglass metrics show 3,655 bitcoin worth over $99m were withdrawn in the past day.
Binance, the World's Top Crypto Exchange, Under US Investigation
The US Commodity Futures Trading Commission (CFTC) has sued cryptocurrency exchange Binance and its CEO Changpeng Zhao over regulatory violations. Binance, which claims to have 128 million users, offers spot and derivatives trading, as well as NFTs and crypto loans. Binance.com is the world's largest cryptocurrency exchange.
Binance, CEO Face Legal Action From US Regulator Over Crypto Exchange Practices
Binance, the world's largest cryptocurrency exchange, and its CEO, Changpeng Zhao, are being sued by the US Commodity Futures Trading Commission (CFTC) for operating an "illegal" exchange and "sham" compliance program. The CFTC alleges that Binance offered and executed commodity derivatives transactions on behalf of US persons in violation of US laws.
Nigerian Federal Government exempts telecoms from 5% excise duty
The Federal Government of Nigeria has exempted telecom services from the recently introduced 5% excise duty on all services.
Binance Finally Responds To U.S. Regulatory Concerns; But Fails To Provide Financials
The latest news from Binance indicates that the exchange has issued a response to the accusations made by three prominent US senators.
Vietnam has a Growing Cryptocurrency Market
Vietnam has become the second Southeast Asian country, after Thailand, with the highest number of crypto investors, with over 16.6 million cryptocurrency holders, according to a local media outlet report citing the "Vietnam Crypto Market Report 2022." The report also shows that around 200 blockchain projects are currently operating in Vietnam, with the majority focused on DeFi, NFTs, Web3, Infrastructure, and GameFi. The crypto sector in Vietnam continues to grow, despite the government's efforts to limit investor activities with crypto.
Exchanges In Moscow Are Prepared To Send Money To London, According To A Report
Russian crypto exchanges are willing to exchange digital coins for paper money in the UK without proper Know-Your-Customer procedures, according to a study by Transparency International Russia. Over 20 crypto exchanges in Moscow are operating, with eight of them willing to exchange stablecoins for British pounds and deliver cash to London. Some of these exchanges, including Suex and Garantex, are blacklisted by the US Treasury Department's Office of Foreign Assets Control. The study suggests that the scale of this activity is significant and requires further investigation.
Bitcoin Price Soars to $22.6K As A Result Of Binance Converting $1 Billion Into BTC, BNB, And ETH
Binance CEO Changpeng Zhao announced on Twitter that they plan to convert the remaining $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including BTC, BNB, and ETH.
Binance CEO Speculates Coordinated Efforts To Destabilize Crypto; Is Bitcoin Under Attack?
There is speculation that the increasing number of attacks targeting the cryptocurrency industry, as well as the challenges faced by traditional banking institutions in this area, may be part of a coordinated effort to undermine the stability of the crypto sector.
Binance.US's $1.3 Billion Takeover Of Voyager Gets The Go-Ahead From US Bankruptcy Court
Judge Michael Wiles of the US Bankruptcy Court has authorized Voyager's reorganization plan, which calls for Binance.US to buy the business. As part of the agreement, Binance.US will hand over the crypto assets placed by Voyager clients, which were assessed at $1.3 billion in February, and give $20 million in cash to Voyager.
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