Binance CEO Richard Teng has spoken out against the detention of Tigran Gambaryan, an executive of the exchange, in Nigeria. Teng believes that Gambaryan’s detention was unfair and is concerned about the dangerous precedent it sets for companies globally. He argues that inviting a company’s employees to participate in collaborative policy meetings only to detain
Exchanges
The recent crackdown by the Securities and Exchange Commission (SEC) on crypto firms has brought to light concerns about potential regulatory favoritism towards US crypto exchange Coinbase. Bitwise Investments CIO, Matt Hougan, pointed out in a social media post that the current regulatory environment may be inadvertently giving Coinbase an unfair advantage over its competitors.
Recently, six Coinbase customers initiated a class-action lawsuit against the crypto exchange Coinbase Global. The lawsuit targets not only Coinbase Global but also two of its subsidiaries and its CEO, Brian Armstrong. The plaintiffs claim that the digital assets available on Coinbase are actually securities, which raises significant legal concerns. The lawsuit alleges that tokens
In recent news, Alexander Vinnik, a Russian national, admitted guilt to money laundering conspiracy charges in the United States. Vinnik was the mastermind behind the infamous crypto exchange BTC-e, which was a prominent player in the cryptocurrency world between 2011 and 2017. Prosecutors revealed that BTC-e processed a staggering $9 billion in transactions and had
In the first quarter of 2024, Coinbase reported revenues of $1.64 billion, exceeding the expected amount of $1.34 billion. This surge in revenue comes at a time when the crypto market is experiencing a strong rally, fueled by the impressive performance of Bitcoin. The company’s earnings per share stood at $4.40, a significant improvement from
In a recent statement, former Binance CEO Changpeng Zhao emphasized the significance of compliance in the crypto industry. This comes after Zhao was sentenced to four months in prison for violating US compliance regulations. Despite his conviction, Zhao highlighted the importance of adhering to regulations in the industry, stating that “compliance is super important.” He
Changpeng ‘CZ’ Zhao, the co-founder and former CEO of Binance, recently submitted a letter of apology to the court expressing regret and accepting full responsibility for his past actions. In his letter, CZ admitted to making poor decisions and failing to implement necessary compliance changes at Binance in a timely manner. He highlighted that under
FTX creditors have recently been encouraged to take part in the bankruptcy estate auction of the remaining Solana token holdings of the defunct exchange. This move comes after Figure CEO Mike Cagney announced that the upcoming round of locked Solana token sales would be conducted through an auction process. Unlike previous sales that were directly
Kenyan authorities are preparing to hand over Nadeem Anjarwalla, a Binance executive, to the Nigerian government. Anjarwalla was apprehended in Kenya by a joint operation involving multiple agencies including the EFCC, Kenya Police Service, FBI, and INTERPOL. The arrest was made after weeks of searching and according to sources, Anjarwalla is set to be extradited
Crypto exchange HashKey recently announced its decision to cease support for Binance-related transactions. The Hong Kong-based platform shared that it will limit deposits from Binance starting on May 10 and discontinue virtual asset withdrawals to Binance-hosted wallet addresses by May 17. This move comes as a part of a policy change by HashKey, though specific
