Changpeng Zhao, the now ex-CEO of Binance, pleaded guilty to breaking sanctions and money laundering. Binance is set to pay $4.3 billion to settle the criminal charges, one of the largest penalties ever obtained by the US from a corporate defendant. Will Binance, US and otherwise, survive the courthouse trashing of its reputation? Will other […]
The trial of Sam Bankman-Fried (SBF), once a cryptocurrency billionaire now accused of orchestrating multibillion-dollar fraud, is under way in Manhattan’s federal court. Customers of FTX, Bankman-Fried’s collapsed crypto exchange, lost billions in dollars when the firm declared bankruptcy after an $8 billion liquidity shortfall was exposed. The court will decide whether this deficiency is […]
13 charges from the SEC piling on accusations of regulatory evasion by the CFTC. Denouncement, investigations, and severance of banking relationships with over 7 countries. Outflows in the billions (US dollars, fortunately). Binance is going through it. The onslaught of financial, regulatory, and social pressure exuded onto the crypto industry through execution in effigy of […]
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