In an effort to salvage its integrity, Binance argued that its guilty plea shouldn't be taken as being a noncompliant exchange, noting that it never received "fair notice" from the SEC.
The three allegedly recruited Taiwanese and Chinese nationals in the United States to defraud several banks through double credit scams and laundered the funds through ‘crypto.’
Changpeng Zhao's refusal to serve jail time over violations of U.S. banking laws forced prosecutors to tag him as a flight risk, leading to the ex-Binance CEO's legal team filing an opposition.
Celsius says it has had dialogues with the Securities and Exchange Commission, which had publicly opposed its previous reorganization plan and settled on only mining BTC.
While Changpeng Zhao’s guilty plea this week came as a surprise to ordinary people, it wasn't so much for global regulators, who—for years—have been tracking and calling out Binance's illegal activities.
The New York Bankruptcy Court has cleared Celsius' restructuring plan, unlocking around $2 billion worth of digital assets to be distributed to creditors.
Former Bitwise CEOs Jake Soberal and Irma Olguin, Jr. would face a hefty penalty of $250,000 and a 20-year jail term if convicted of wire fraud, which they've been allegedly doing since January 2022.
Peter Kambolin would make trades using customer funds and then pick which accounts to assign the profits and losses, ensuring he was the ultimate beneficiary, authorities said.
As terror ensues in Israel following the deadly attacks of the Palestinian group Hamas, a report sheds light on Binance's role in financing terrorism, prompting calls for a crackdown.
Binance’s historical willingness to knowingly allow both Hamas and its sponsor Iran to utilize its platform because it boosted Binance’s bottom line now looks even more short-sighted.
The two promoters got five and one year behind bars, respectively, while lawyer Scott Hughes, who laundered the proceeds for AirBit Club, got 18 months.