Binance was withholding information from regulators, repeatedly shunned own compliance department

In a report published on Friday, Reuters laid out the findings of its investigation into the regulatory compliance practices of Binance, the world’s largest cryptocurrency exchange by trading volume. The authors suggest the existence of a recurring pattern whereby the company’s CEO Changpeng Zhao, while proclaiming its openness to government oversight, ran an organization that systematically denied regulators’ requests for financial and corporate structure information and shirked proper client background checks. The reported findings are based on the accounts of Binance’s former senior employees and advisers, as well as the…

Former Binance US CEO Catherine Coley is still missing, and no one seems to be talking

Around the time Binance.US announced former Comptroller of the Currency Brian Brooks would be leading the crypto exchange, former CEO Catherine Coley effectively dropped off the face of the digital world. Coley, who had regularly posted updates on Binance.US and her personal life to her Twitter account, has been inactive on the social media platform since April 19. Her job experience on LinkedIn ends with her two years as CEO of Binance.US, which she left in June 2021, and her online silence has led at least one news outlet to…

Binance US officially launches trading services in Connecticut

United States cryptocurrency exchange Binance.US, which operates separately from the global Binance platform, has officially opened its trading services to residents of Connecticut.  Beginning Jan. 20, Connecticut residents can register to buy, sell and trade digital assets such as Bitcoin (BTC) and Ether (ETH) on the Binance.US platform, the company announced on Thursday. Residents will also have access to the Binance.US mobile app on Android and Apple devices. Binance.US launched in 2019 to provide regulated crypto trading services to residents of the United States. Currently, the trading platform is approved…

Ad restrictions won’t impact crypto demand, Binance CEO says

Binance CEO Changpeng Zhao, also known as “CZ,” claimed that the growing restrictions on crypto advertisement won’t impact the demand. During his interview with CNBC, CZ stressed that physical crypto advertisements and crypto ads, in general, have not had much impact on user growth, and it has only become common over the past few years. He said that the majority of crypto adoption comes from “word of mouth” marketing.  Clampdown on crypto advertising is unlikely to have much of an effect on demand, says @binance CEO Changpeng Zhao pic.twitter.com/K5EtuWyxGz —…

Here’s why Binance Coin is 33% down from its all-time high

Binance Coin (BNB) holders enjoyed a 1,760% rally from $37 to $692 between January and May 2021, but as is customary in crypto, this surge was followed by a 69% correction two weeks later.  From there, it’s been a bit of a rough patch to regain investors’ confidence and BNB failed to produce another all-time high in November even though the aggregate cryptocurrency market capitalization peaked at $3 trillion. Binance Coin / USDT at Binance. Source: TradingView In addition to being 33% down from its all-time high, BNB investors have…

NCFTA onboards crypto exchange Binance to fight against cybercrime

The National Cyber-Forensics and Training Alliance (NCFTA), an American non-profit, onboarded its first crypto firm Binance to aid their ongoing battle against cybercrimes.  Founded in 2002, the NCFTA partners with law enforcement and various business and academic entities to source threat intelligence to identify and mitigate cybercrime threats. By partnering with Binance, the world’s biggest crypto exchange in terms of trading volume, the NCFTA aims to tackle international cybersecurity investigations. According to Binance’s VP of Global Intelligence and Investigations, Tigran Gambaryan, the exchange aims to be the leading contributor in…

Binance eyes Thailand for latest crypto exchange expansion

Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development PCL. Gulf Energy Development PCL is a Thai holding company run by billionaire Sarath Ratanavadi that focuses on the energy sector. Gulf Energy reportedly made the agreement with the world’s largest crypto exchange based on the strong assumption that Thailand’s digital economy infrastructure will see “rapid growth” in the next few years. The cooperative efforts between Gulf Energy, Binance, and the Thai government will be focused…

Binance CEO’s net worth hits $96B, Jack Dorsey launches BTC defense fund, Bill Miller apes into Bitcoin: Hodler’s Digest, Jan 9-15

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Binance CEO CZ is the richest crypto billionaire at $96B: Bloomberg Bloomberg has estimated Binance CEO Changpeng Zhao — also known as “CZ”— to be the 11th-richest person in the world at a net worth of around $96 billion, making him the wealthiest billionaire in…

Binance Labs backs $200M Oasis Ecosystem Fund

Binance Labs, the venture capital (VC) arm of the Binance cryptocurrency exchange, announced Tuesday that it will contribute to Oasis Foundation’s $200 million ecosystem development fund, sending a strong signal that major investors were still keen to back emerging projects on alternative blockchain networks.  With the investment, Binance Labs joins other prominent VC firms in supporting the Oasis Network, an alternative smart contract platform that intends to compete with Ethereum. As Cointelegraph reported in November, Oasis Foundation initially launched a $160 million development fund to lure promising startups to its…

Binance taps former central bank exec to push compliance in CIS and Russia

Binance, the world’s largest cryptocurrency exchange, is putting more effort into increasing compliance in the Commonwealth of Independent States (CIS), Russia and Ukraine. Binance is planning to extend its operations in the region and boost local cryptocurrency compliance and education, Gleb Kostarev, Binance’s head of operations for Russia and the CIS, told Cointelegraph on Tuesday. The company additionally expects to focus on the local Binance Smart Chain (BSC) development and community, he noted. As part of the effort, Binance announced several local hires, including Olga Goncharova, Binance’s new director of…