Binance and its founders – including billionaire Changpeng Zhao – are facing fresh legal trouble in the United States, where a new lawsuit accuses the global crypto giant of enabling the flow of millions of dollars to organisations designated by Washington as terrorist groups, including Hamas and Hezbollah. The complaint was filed in a federal…
Former Binance chief executive Changpeng Zhao, widely known as “CZ”, has been granted a presidential pardon by US President Donald Trump, less than a year after serving a four-month prison sentence for violating American money-laundering laws. Zhao, the founder of the world’s largest cryptocurrency exchange, had pleaded guilty in 2023 to allowing users to bypass…
A Nigerian court has postponed proceedings in a tax evasion case against cryptocurrency exchange Binance to April 30, following a legal challenge over the method of serving court documents. The adjournment comes after Binance’s legal representative, Chukwuka Ikwuazom, contested the February 11 court order allowing the Federal Inland Revenue Service (FIRS) to serve documents via…
Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has dropped a money laundering case against Tigran Gambaryan, a senior cryptocurrency executive at Binance, to allow him to seek medical treatment abroad. Gambaryan, a U.S. citizen, was arrested during a business trip to Nigeria in February and was later charged alongside Binance, the world’s…
Amid Nigeria’s ongoing crackdown on cryptocurrency platforms, a senior executive of Binance, a major cryptocurrency exchange, has reportedly escaped custody, sparking concerns and intensifying the country’s efforts to apprehend the suspect. Nadeem Anjarwalla, Binance’s regional manager for Africa, managed to flee Nigeria using a smuggled passport, according to authorities from Nigeria’s National Security Adviser’s office….
Renowned footballer Cristiano Ronaldo is confronting a class action lawsuit in the United States regarding his promotion of Binance, the world’s largest cryptocurrency exchange. Plaintiffs allege that Ronaldo’s endorsement persuaded them to engage in loss-making investments, seeking damages exceeding $1 billion (£790 million). In November 2022, Binance introduced its first “CR7” collection of non-fungible tokens…
In a significant development, Changpeng Zhao, the CEO of Binance, has stepped down and pleaded guilty to money laundering breaches in a deal that involves the cryptocurrency exchange paying over $4 billion in penalties, according to prosecutors. The Department of Justice revealed that Binance, under Zhao’s leadership, committed crimes that contributed to its status as…
The chief executive officer (CEO) of Binance, Mr Changpeng “CZ” Zhao, has called Binance Nigeria Limited a scam entity, noting that the cryptocurrency exchange has issued a cease and desist order. In a recent tweet, Mr Zhao said, “Binance have issued cease & desist notice to the scammer entity Binance Nigeria Limited.” He further added…
The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in Nigeria. The Commission disclosed this in a statement posted on its website recently. It stated that Binance is neither registered nor regulated by it, and its operations in the country are illegal. It noted that anyone conducting…
Investors withdrew $1.6 billion of cryptocurrency from crypto exchange Binance since it was sued by the U.S. CFTC on Monday, blockchain data tracker Nansen said on Wednesday. The U.S. Commodity Futures Trading Commission (CFTC) sued Binance – the world’s biggest crypto exchange – along with its CEO and former top compliance executive, alleging that they…
Investors withdrew as much as $3 billion from Binance on Tuesday, according to blockchain analytics firm Nansen, as a deluge of negative headlines about the cryptocurrency industry rattled users of the world’s largest exchange. Andrew Thurman, content lead for Nansen, told CNN that at its peak, Binance saw “as high as $3 billion in net…
