Binance faces a series of unfortunate events following the SEC's charges, with Binance.US announcing layoffs and a pay cut, while the exchange's BNB value plummeted.
Nevada-based 'crypto-friendly' payment processor Banq Inc's Chapter 11 bankruptcy filing lists around $18 million worth of assets, nearly all of which consists of the allegedly stolen property.
Charging the world's two largest exchanges—Coinbase and Binance—poses a question of what makes a digital asset a security following the SEC's refusal to make a similar move against BTC and ETH.
In a new video, Joshua Henslee shares his take on the Binance debacle, who would be affected by this chaos, the changes Ordinals may bring, and his experience at the London Blockchain Conference.
U.S. District Judge Amy Berman Jackson has given the parties until 5 p.m. on June 15 to report back on their progress before she makes any final decision regarding the SEC’s request to freeze funds.
Nigeria’s SEC ordered Binance Nigeria to halt operations as it’s unregistered, but the global exchange headed by Changpeng Zhao is now denying any links to the company.
Two prominent U.S. senators are calling for the Justice Department to investigate Binance over false statements the company made to lawmakers on March 1 when it responded to a Congressional inquiry about its business practices.
Under the new digital currency promotion rules, any promotion of digital currency products or services will need to attach a “clear warning,” suggested by the FCA.
The summons to Changpeng Zhao and his Cayman-based Binance Holdings Ltd formally alerts the defendants that they have 21 days following service to respond to the SEC's complaint.
The SEC also alleges that Binance and founder Changpeng Zhao commingled customer assets while moving billions of dollars from its accounts and into various bank accounts ultimately controlled by Zhao.
Charges filed by the SEC against Binance and Coinbase spell trouble for the 'crypto' industry dominated by exchanges that offer assets that amount to securities without proper authorization.