Binance

A Nigerian court denies bail for Binance executive Tigran Gambaryan

May 18, 2024 2 mins read

Binance CEO Tigran Gambaryan was denied bail by a Nigerian court, a family representative said. The judge delayed Binance and Gambaryan’s trials until May 22 and 23. Despite assurances that Gambaryan has no passport, the judge refused bail amid worries he would leave. After his colleague Nadeem Anjarwalla fled incarceration earlier this year, the court worried. Gambaryan’s wife, Yuki, said, “I truly cannot believe that my innocent husband is now

Binance Delivers on Community Requests for More Choices with New Funding Rate Arbitrage Bot and Full Availability of Spot Copy Trading

May 15, 2024 4 mins read

Dubai, UAE, May 15th, 2024 Largest crypto exchange now offers more than 120,000 active trading strategies, and over 70% of active Spot Copy Trading Lead Traders have recorded positive P&L. Binance, the leading blockchain ecosystem behind the world’s largest crypto exchange by trading volume, today announced the launch of Funding Rate Arbitrage Bot and the full roll out of Spot Copy Trading to all eligible users.   Binance currently offers on its Trading Bots Marketplace over 120,000

The US DOJ selects FRA to monitor Binance after a $4.3 billion penalty for legal violations

May 13, 2024 1 min read

After Binance admitted to breaking U.S. anti-money laundering rules and was fined $4.3 billion, the DOJ appointed Forensic Risk Alliance (FRA) to supervise it. FRA beat Sullivan & Cromwell because of FTX’s failure. In the legal and crypto worlds, Sullivan & Cromwell was condemned for failing to discover serious fraud at FTX. FRA closely monitors Binance’s internal activities to comply with U.S. laws. They must report directly to the U.S.

Binance founder CZ Zhao faces up to 3 years in prison as the company’s growth soars

May 6, 2024 2 mins read

The sentencing of Binance founder Changpeng Zhao, known as CZ, was scheduled for Tuesday, April 30th. In November of last year, he confessed to breaching U.S. anti-money laundering laws. The duration of his sentence is likely to be three years. Prosecutors are seeking a severe sentence due to Zhao’s inadequate adherence to regulations. Zhao is well-known for advocating the idea of “seeking forgiveness rather than permission.” Zhao has the potential

Binance executive’s tax evasion case in Nigeria postponed, next hearing set for April 19

April 15, 2024 1 min read

Tigran Gambaryan, a high-ranking Binance executive in Nigeria, has been apprehended for the act of deliberately avoiding tax payments and is currently being prosecuted, along with the firm, for failing to fulfill specific tax obligations and purportedly assisting customers in evading taxes. Justice Emeka Nwite delayed the proceedings after Gambaryan had lately became aware of the charges. Gambaryan’s imprisonment by the EFCC, a separate federal agency, was the cause of

BlockDAG Presale Drives Keynote Waves Raises Almost $11M Amid Positive Waves Price Prediction and SHIB Burn Rate 

March 31, 2024 4 mins read

The dramatic increase in the Shiba Inu Burn Rate exemplifies the meme coin’s scarcity and value growth strategy, while the optimistic Waves Price Prediction highlights resilience in a volatile market. Amid these developments, BlockDAG (BDAG) introduces a groundbreaking approach to crypto mining on the phone, sidestepping the complexity of Shiba Inu and Waves with its user-friendly BlockDAGX1 app.  This innovation simplifies mining and positions BDAG for significant growth, underlined by

US SEC claims that Binance.US refuses to provide certain information, which the exchange denies

March 7, 2024 1 min read

The US SEC’s action against Binance has been continuing since June, with Binance Holdings Ltd facing fines of up to $4.3 billion. Former CEO Changpeng Zhao was forced to resign and is now on bond. However, Binance.US, previously known as BAM Trading Services, is still battling the SEC in court. The Washington D.C. court ordered the two parties to collaborate on the discovery process, but the SEC claims that the

Binance to transfer large amount of Bitcoin (BTC) to another address as part of its wallet maintenance

March 5, 2024 1 min read

Binance, the world’s leading crypto exchange, has issued a warning about large-scale Bitcoin transfers due to routine wallet maintenance. The exchange said it will be moving a significant amount of BTC to another address within its network. While announcing the move, the exchange reassured users that these transactions are part of internal operations and not indicative of any outward flow of funds. The crypto exchange has taken the proactive step

Binance exchange suspends Nigeria Naira (NGN) deposits

March 5, 2024 1 min read

Binance exchange has said it will leave the Nigerian market and stop all services that use the Nigerian naira (NGN), which is the country’s official currency. After March 8, the largest crypto exchange by trading volume will no longer let people withdraw NGN. Any leftover balances will be automatically converted to the stablecoin Tether (USDT). Furthermore, the exchange wants Nigerian users to make a smooth transition, so they have been

Nigerian authorities issue a final warning to Binance CEO Richard Teng

March 5, 2024 1 min read

Nigerian authorities have reportedly issued a final warning to Binance CEO Richard Teng, demanding his presence before the House of Representatives Committee on Financial Crimes by March 4. This comes after Binance settled with the U.S. Department of Justice for money laundering and agreed to a $4.3 billion fine. The committee is investigating Binance for alleged financial crimes, including money laundering and supporting terrorism. Failure to comply could lead to

Binance Coin (BNB) price reaches $400, marking a significant rebound despite Binance’s legal issues

February 27, 2024 1 min read

Binance, the world’s largest crypto exchange, has seen its native crypto, BNB coin breaking the $400 mark for the first time since May 2022, surging by over 3%. This comes despite facing legal issues in the US. Trying to solve the issue, the exchange agreed to a $4.3 billion plea deal. This hefty sum was paid to address charges related to anti-money laundering and sanctions violations. In addition, Binance‘s legal

Binance exchange agrees to pay historic $4.3B in fines; founder CZ awaits April sentencing

February 25, 2024 1 min read

Binance, the world’s largest crypto exchange, has agreed to a $4.3 billion settlement in a federal case, marking a historic high in financial enforcement actions. The settlement with the U.S. Department of Justice (DOJ) includes a $1.8 million criminal fine and $2.5 million in forfeitures for negligence in due diligence. In addition, the DOJ emphasized that punishment aims to hold Binance accountable and deter similar criminal activities. Plus, the settlement’s