Richard Teng announced that Binance will remain user-focused, will work closely with regulators, and collaborate with its partners to ensure seamless adoption of crypto assets and blockchain technology.
This new pilot project from Binance addresses the paramount concern of counterparty risk, while aligning with the risk tolerance of institutional investors.
Despite the ongoing legal battle with CZ Binance and the US government, market experts believe the company will continue to maintain its position as the biggest crypto exchange in the world.
Even though Binance acts as an approved broker in some places overseas, it still has to meet many legal requirements to handle securities activities in the Philippines under the country’s Securities Regulation Code.
The plaintiffs, Michael Sizemore, Mikey Vongdara, and Gordon Lewis, argue that Ronaldo actively took part in endorsing financial products on Binance, which should have been registered with regulators.
As Zhao steps down, he will transfer his voting rights to a proxy. However, authorities stated that Binance.US is not part of the $4.3 billion settlement of its global entity.
In the article, Hayes presented a unique perspective on centralization, branding himself, and even Changpeng ‘CZ’ Zhao, the former CEO of Binance, as sinners in the eyes of “Lord Satoshi”.
Following his recent guilty plea and forthcoming sentencing, former Binance CEO Changpeng Zhao has outlined potential next steps, including crypto investments in biotech research.
According to the US Commodity Futures Trading Commission (CFTC), allegations of money laundering against Binance may be just the tip of the iceberg.
With the United States lacking an extradition treaty with the UAE, Seattle Judge Richard Jones ordered that CZ must remain with the country for the time being before he determines where the crypto billionaire is a flight risk.
The new Binance CEO has noted that Binance will begin operating a conventional corporate structure under his leadership.
Alongside the traditional trading competition, Binance futures participants can engage in a Copy Trading Competition and a Trading Bots Competition.
The commission now has access to all of the exchange’s records, which could serve as a catalyst for uncovering additional instances of mishandled funds or suspected fraudulent activities.
Zhao’s guilty plea stems from accusations that Binance violated the Bank Secrecy Act by knowingly allowing US customers on the platform without conducting proper KYC and AML checks.
Bitcoin has managed to successfully sail through amid several concerning events in the crypto space, with derivatives data showing strength.