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Changpeng Zhao ( Chinese: 赵长鹏; pinyin: Zhào Chángpéng ), commonly known as CZ, is a Chinese-born Canadian businessman. Zhao is the co-founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of November 2023. [2] He resigned as the CEO in November 2023 after pleading guilty to a money laundering charge in the United States and was sentenced ...
Xsolla’s products include digital tools which help with in-game payments and enable alternative payment systems to be used for digital transactions. [6] According to research conducted by Goldman Sachs and Bank of America, Xsolla could be worth up to $3 billion. In 2020, the company's revenue was $67 million. [7]
FTX was unable to meet the demand for customer withdrawals. Binance signed a letter of intent to acquire the firm, with due diligence to follow, to ensure that customers could recover their assets from FTX in a timely manner, but Binance withdrew its offer the next day, citing reports of mishandled customer funds and U.S. agency investigations.
The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng ...
In the latest blow to the embattled crypto industry, the Justice Department charged the major cryptocurrency exchange Binance and its top executive with violating U.S. money-laundering laws and ...
Further, Binance did not have protocols to flag or report transactions for money-laundering risks, and employees were well aware that such an oversight would invite criminals to the platform.
The Bank Secrecy Act of 1970 ( BSA ), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. [1] Specifically, the act requires financial institutions to keep records of cash purchases ...
The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications. [2]