U.S. CFTC comments on Binance case: Plans to continue to actively pursue illegal crypto exchanges and will not tolerate circumvention of KYC rules
According to the latest developments in the CZ and Binance case, Christy Goldsmith Romero, a commissioner of the US Commodity Futures Trading Commission (CFTC), stated that there are no "pirate ships" in the US market, and that "contacting US customers is a privilege, not a right". The CFTC plans to continue actively investigating cryptocurrency exchanges that violate trade laws and will not tolerate behavior that may circumvent KYC rules, including only requiring users to prove they are not in the US in a pop-up prompt box. CFTC Commissioner Caroline D. Pham stated in another statement that the CFTC's jurisdiction has no borders, and the CFTC will not stop its investigation of non-US entities. (Business Insider)
The X page shows that CZ’s account has returned to normal.
As shown on the X (formerly Twitter) page, the account of Binance founder CZ has now been restored to normal. CZ has changed the name of the X account from the previous CZ Binance to the current CZ BNB, and the blue V certification mark has disappeared. The previous "warning: this account is temporarily restricted" may have been caused by the name change.
Binance Founder CZ Claims Mental Stability Amidst Legal Debacle
Changpeng Zhao, the founder of Binance and former CEO, has stated that he is mentally stable despite recent legal issues. He expressed gratitude for the support he has received from the public and Binance users, although he has not been able to respond to most of them. Zhao has joked in the past about retiring early as Binance CEO, but did not expect it to happen so soon or in this manner. He has been hit with legal enforcement action related to money laundering and Know-Your-Customer rules, and has pleaded guilty to charges of defaulting on anti-money laundering systems. He is currently on a $175 million personal recognizance bond and is prohibited from breaking the law or traveling out of the country until his sentence hearing in February.
Binance Completes Chiliz (CHZ) 2.0 Mainnet Integration and Swap
According to official announcements from DeepFlow Tech, Binance has completed the integration and replacement of Chiliz (CHZ) 2.0 mainnet. Chiliz (CHZ) tokens and Chiliz fan tokens are now available for deposit and withdrawal on relevant networks.
Binance will delist BTC/BUSD and ETH/BUSD margin trading pairs
Binance Futures will remove BTC/BUSD and ETH/BUSD cross and isolated margin trading pairs on December 7th, 2023 at 14:00 (UTC+8).
Nansen: Binance has not experienced large-scale asset outflows, with assets held reaching $65.2 billion
Nansen stated on X platform that there has been no large-scale outflow of assets from Binance. On the evening of the 22nd, the position assets increased from $64.6 billion in the morning to $65.2 billion.
U.S. prosecutors ask federal judge to block Binance founder Changpeng Zhao from returning to UAE ahead of sentencing
Documents show that US prosecutors have requested a federal judge to prevent Binance founder Zhao Changpeng from returning to the UAE before sentencing. The US Department of Justice has requested that the federal court require Zhao to stay on US soil during his guilty plea and sentencing hearings. <br>
Binance not experiencing "mass exodus of funds" following settlement, says blockchain analytics firm Nansen
Blockchain analytics company Nansen has reported that despite a settlement for civil and criminal charges against Binance and its CEO, Changpeng “CZ” Zhao, there has not been a significant outflow of funds from the exchange. Nansen stated that while there was a $956 million net outflow on Ethereum within 24 hours of the $4.3 billion settlement announcement by the US Department of Justice, Binance's total holdings increased to over $65 billion. Nansen also noted that withdrawals are continuing, and there has not been a mass exodus of funds. Tether (USDT) holdings on Binance decreased the most over the last 24 hours, while holdings of XRP and TrueUSD (TUSD) remained steady.
Investors pull nearly $1 billion from Binance after CEO's guilty plea in U.S. money laundering case
Data firm Nansen has reported that investors withdrew approximately $956 million from Binance within the past 24 hours, following the resignation of the exchange's chief, Changpeng Zhao, who pleaded guilty to violating US anti-money laundering laws. Binance has agreed to pay $4.3 billion to US authorities to settle a long-standing illicit finance investigation, which has raised concerns about the future of the world's largest crypto exchange. While Zhao has been replaced by Richard Teng, a senior Binance executive, the news has still unsettled some customers of the exchange, although the outflows are relatively small compared to the platform's total holdings.
Binance will add spot trading pairs such as DOT/TUSD and WLD/FDUSD
According to the official announcement, Binance will list the following spot trading pairs on November 23, 2023 at 16:00 (GMT+8): DOT/TUSD, GALA/FDUSD, GAS/TRY, NTRN/TRY, and WLD/FDUSD.In addition, Binance will open trading bot services for the following trading pairs on November 23, 2023 at 16:00 (GMT+8): spot grid, spot DCA (dollar-cost averaging), and intelligent holding: BEAMX/USDT.
Coinbase executive: Binance will most likely pay full $4.3 billion fine without selling crypto assets
According to Conor Grogan, the head of Coinbase, who posted on X platform, Binance Corporate's Proof of Reserves (PoR) data shows that its cryptocurrency holdings include a total of $6.35 billion in assets and $3.19 billion in stablecoins, excluding off-chain cash balances or funds not in the PoR wallet. Binance is most likely to pay the Department of Justice's $4.3 billion fine in full without selling any cryptocurrency assets.
Binance will remove some BUSD spot trading pairs
According to an official announcement on November 22nd, Binance will remove the following spot trading pairs and stop trading at 11:00 on November 24th, 2023 (GMT+8): APT/BUSD, AXS/BUSD, BAKE/BUSD, CFX/BUSD, CHZ/BUSD, ETC/BUSD, FIL/BUSD, GAS/BUSD, TRB/BUSD, USTC/BUSD.
Binance settles with U.S. government: Timeline of US enforcement actions
U.S. government agencies have spent months, sometimes years, investigating Binance in the lead-up to unsealing an indictment against the exchange.
Crypto markets mixed as traders digest DOJ action against Binance, CZ
Cryptocurrencies flash mixed signals as market participants digest the details of CZ’s guilty plea and the DOJ’s $4.3 billion settlement with Binance.
Binance will support Qtum (QTUM) network upgrade and hard fork
Binance issued an announcement stating that it will support the Qtum (QTUM) network upgrade and hard fork. The specific arrangements are as follows:
199,999 SOL transferred from unknown wallet to Binance
Whale Alert monitoring shows that at around 7:39 am Beijing time today, 199,999 SOL (worth about $10,487,432) was transferred from an unknown wallet to Binance.
BNB fell more than 13% in 24H, with daily trading volume hitting a new high since November last year
According to market data, BNB is currently trading at 229 USDT, with a 24-hour decrease of 13.45%. The 24-hour trading volume of BNB is 4.061 million BNB, reaching a new high since November 2022; the 24-hour trading volume is 1.004 billion USDT.
Binance outflows exceed $1 billion since news of CZ’s resignation as CEO
Nansen posted on X platform, stating that since CZ resigned as CEO of Binance, more than $1 billion in funds have flowed out of Binance, but Binance still controls $65 billion in assets. This is not the first time Binance has dealt with massive outflows of funds.
CFTC fines Binance’s former chief compliance officer $1.5 million
Caroline Pham of the US Commodity Futures Trading Commission (CFTC) stated that in addition to fines against Binance and CZ, if the proposed settlement plan is approved by the judge, Binance's former chief compliance officer Samuel Lim will also pay a fine of $1.5 million. This is the first time that the CFTC has held a compliance executive personally responsible.
Shenyu: Thanks to CZ’s contribution to the industry, Binance’s settlement agreement with the U.S. Department of Justice clears the way for ETFs
On November 22nd, Shen Yu, on its social platform, stated that the regulatory agreement reached between the US Department of Justice and Binance paved the way for ETFs. Thank CZ for his outstanding contributions to the industry. May we explore the infinite possibilities of DeFi together with CZ.
