All articles tagged with #cz
The Trump administration's pardon of Binance founder Changpeng Zhao has elevated his status to a martyr in the crypto community, potentially leading to significant repercussions for the US crypto industry.
Former President Donald Trump claimed he has no knowledge of Binance founder Changpeng Zhao (CZ) despite pardoning him, citing a desire to boost U.S. competitiveness in crypto and alleging that CZ was unfairly treated by the Biden administration. Trump also criticized Biden's use of autopen for pardons and highlighted Binance's legal and financial issues, including a $4.3 billion settlement for illicit activities.
Senate Democrats are moving to condemn President Trump's pardon of Binance founder CZ, citing concerns of corruption and potential impacts on crypto legislation, amid bipartisan criticism and ongoing scrutiny of the Trump family's crypto connections.
US President Donald Trump pardoned Binance founder Changpeng Zhao (CZ), who had pleaded guilty to violating anti-money-laundering laws and US sanctions, serving four months in prison. The White House framed the pardon as rectifying what it called a politically motivated attack on the crypto industry by the Biden administration, and it may enable Binance to re-enter the US market. Zhao's pardon is seen by some as a reward for his support and connections to Trump, amid ongoing controversy over the regulation and legality of crypto activities.
Rumors suggested Binance founder CZ was advising Aster DEX, but he clarified he is only an advisor and not officially involved. Despite this, Aster's token experienced a significant surge, reflecting strong market interest, though its long-term prospects remain uncertain amid competition and market dynamics.
Binance founder CZ has been ordered to stay in the US until his sentencing in February due to flight risk concerns, while a pro-blockchain bill has been passed by a US Congress committee. The SEC has delayed its decision on Grayscale's spot Ether ETF, and Elon Musk's xAI has filed with the SEC for a private sale of $1 billion in unregistered securities. Asset manager VanEck predicts a new all-time high for Bitcoin in late 2024, and provides a gloomy prediction for the US economy.
Former Binance CEO Changpeng "CZ" Zhao has been ordered by a federal judge to remain in the United States until his sentencing in February, as he is considered a flight risk if he returns to the United Arab Emirates. Zhao pleaded guilty to money laundering and faces up to 18 months in prison. The judge cited Zhao's significant wealth and lack of ties to the US as reasons for the decision. Zhao settled with US regulators for $4.3 billion in November and stepped down as CEO of Binance.
A federal judge has accepted Binance CEO Changpeng Zhao's guilty plea to one count of Bank Secrecy Act violations. However, the judge has not yet decided whether Zhao can leave the United States before his sentencing in February. Zhao faces up to 18 months in prison and is currently released on a $175 million bond. Federal prosecutors have objected to allowing him to leave the U.S., citing concerns about his potential flight risk. Zhao argues that he poses no risk of flight and has taken responsibility for his actions.
Former BitMEX CEO Arthur Hayes argues that Binance and its founder Changpeng "CZ" Zhao have been treated unfairly in the US due to their threat to the traditional global financial system. Hayes points out the discrepancy in penalties between Binance and large traditional financial institutions, highlighting the arbitrary nature of punishment. He believes that the treatment of Binance and CZ reflects resistance against decentralization and the blockchain revolution, which challenge state power. Hayes himself has experienced state prosecution and argues that the intermediaries of the blockchain revolution are not run by the established financial and political class.
Cardano founder Charles Hoskinson commented on the resignation of Binance CEO Changpeng Zhao (CZ), stating that it marked "the end of an era" for crypto entrepreneurs who relied on fast growth and innovation without complying with regulations. Hoskinson emphasized the need for entrepreneurs to either adhere to regulations or develop decentralized systems that cannot be regulated. He also discussed the changing global landscape and the potential impact of the US government's regulatory efforts on the crypto industry. Hoskinson suggested that Midnight, a network based on algorithmic law, could offer a solution to government regulation. CZ recently agreed to a plea deal related to criminal charges and stepped down as CEO of Binance.
Binance CEO Changpeng “CZ” Zhao expressed his relief as the prolonged dispute with the SEC was successfully resolved. The SEC’s ongoing scrutiny had created a tense and uncertain period for the company, making the resolution a welcome development. As the regulatory uncertainty begins to fade, CZ can now concentrate on Binance’s future. In a tweet, the veteran crypto entrepreneur emphasized that the SEC’s emergency relief request was unnecessary, affirming that the mutually agreed resolution would enable Binance to progress unhindered.
Binance CEO, Changpeng Zhao, has denied rumors that the exchange has been selling bitcoin to keep the prices of BNB coin from falling. The rumors were fueled by tweets from popular traders pointing to short-term price correlations between a sell-off in bitcoin and a purchase of BNB. BNB prices are up 6.6% in the past 24 hours while bitcoin has seen nominal declines.
The U.S. Securities and Exchange Commission (SEC) has sued Binance, the operating company for Binance.US, and Binance CEO Changpeng Zhao (CZ) for violating federal securities laws. The SEC alleges that Binance, Binance.US, and CZ offered unregistered securities to the public in the form of the BNB token and Binance-linked BUSD stablecoin, and that Binance's staking service violated securities law. The SEC also alleges that Binance allowed U.S. persons to trade on its platform despite saying it wasn't, and that customer funds were diverted and potentially used for personal purposes. Binance and CZ deny the allegations and plan to vigorously defend against them.
CNBC's Mad Money host, Jim Cramer, tweeted that he would not do business with Binance, calling it "way too sketchy." Binance CEO Changpeng "CZ" Zhao reacted with a hand-praying emoji, which some interpreted as a "sigh of relief." This is not the first time Cramer has criticized Binance. Recently, Binance was slapped with a lawsuit by the Commodity Futures Trading Commission (CFTC), which the exchange described as "unexpected and disappointing." CZ claimed that Binance "does not trade for profit or manipulate the market under any circumstances."
Binance CEO Changpeng 'CZ' Zhao has denied allegations of market manipulation made by the Commodities Futures and Trading Commission (CFTC) in a recent complaint. CZ argued that Binance "does not trade for profit or 'manipulate' the market under any circumstances." He also stated that Binance has developed "best-in-class" technology to ensure compliance and currently has more than 750 people working to ensure their business operates within the bounds of anti-money laundering (AML) and know your client (KYC) laws.