CZ, le charismatique patron de Binance, va faire de la prison
news.movim.eu / Numerama · 09:25
Le patron de Binance va purger une peine de quatre mois de prison pour ne pas avoir correctement lutté contre le blanchiment d'argent. Sa sentence fait écho à celle de Sam Bankman-Fried, étoile déchue du monde de la crypto.
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Binance’s billionaire founder gets 4 months for violating money laundering law
news.movim.eu / ArsTechnica · 2 days ago - 20:55
Enlarge / Former Binance CEO Changpeng Zhao arrives at federal court in Seattle for sentencing on Tuesday, April 30, 2024. (credit: Getty Images | Changpeng Zhao)
Binance founder Changpeng Zhao was sentenced today to four months in prison after pleading guilty of failing to take effective measures against money laundering. The billionaire who formerly ran the world's largest cryptocurrency exchange previously agreed to a plea deal that also required him to pay a $50 million fine.
The US government's sentencing request asked for three years in prison. Zhao's sentencing memorandum asked for probation without any prison time.
Forbes estimates Zhao's net worth at $33 billion. He pleaded guilty to failure to maintain an effective anti-money laundering program.
Binance founder sentenced to four months for money laundering
news.movim.eu / TheGuardian · 2 days ago - 19:20
Changpeng Zhao pleaded guilty and stepped down as CEO of the crypto trading company last year
Changpeng Zhao, the former head of the world’s largest cryptocurrency trading company, was sentenced to four months in jail on Tuesday in a Seattle courtroom. Zhao pleaded guilty late last year to money-laundering violations and stepped down as CEO of Binance. The company itself was fined $4.3bn . Zhao was fined $50m last year.
Judge Richard Jones told Zhao that there were a number of mitigating factors in his sentencing, including that he had cooperated with law enforcement. Jones also cited numerous letters the court had received that testified to Zhao’s character, and stated that he didn’t believe Zhao was likely to reoffend.
Continue reading...Un parfum odeur crypto : l’initiative controversée de Binance pour attirer les femmes
news.movim.eu / Numerama · Thursday, 7 March - 11:20
Binance a lancé un parfum afin de « convaincre » les femmes de se lancer dans les crypto-monnaies. L'initiative, qui pourrait prêter à sourire, pose pourtant bien des questions d'un point de vue marketing, mais aussi féministe.
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From CZ to SBF, 2023 was the year of the fallen crypto bro
news.movim.eu / ArsTechnica · Friday, 22 December - 13:04
Enlarge (credit: Aurich Lawson | Getty Images (Bloomberg/Antonio Masiello))
Looking back, 2023 will likely be remembered as the year of the fallen crypto bro.
While celebrities like Kim Kardashian and Matt Damon last year faced public backlash after shilling for cryptocurrency, this year's top headlines traced the downfalls of two of the most successful and influential crypto bros of all time: FTX co-founder Sam Bankman-Fried (often referred to as SBF) and Binance founder Changpeng Zhao (commonly known as CZ).
At 28 years old, Bankman-Fried made Forbes' 30 Under 30 list in 2021, but within two short years, his recently updated Forbes profile notes that the man who was once "one of the richest people in crypto" in "a stunning fall from grace" now has a real-time net worth of $0.
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Binance to pay $2.7 billion fine after hiding shady transactions from feds
news.movim.eu / ArsTechnica · Tuesday, 19 December - 18:21
Enlarge / Founder and CEO of Binance Changpeng Zhao, commonly known as "CZ," in May 10, 2022, in Rome, Italy. (credit: Antonio Masiello / Contributor | Getty Images Europe )
Now that a federal court has approved a settlement with Binance, the world largest cryptocurrency exchange is hoping to move past a money-laundering scandal that forced its founder and CEO, Changpeng Zhao, to resign and overnight drained more than $1 billion in assets from its platform.
Under the settlement, Binance will "disgorge $1.35 billion of ill-gotten transaction fees and pay a $1.35 billion penalty" to the Commodity Futures Trading Commission (CFTC), the federal agency announced in a press release.
Additionally, Zhao will personally pay a $150 million civil monetary penalty. According to a plea agreement with the US Department of Justice—which ordered Binance to pay a "historic" penalty of $4.3 billion —Zhao's previously ordered $50 million fine can be credited under certain terms against the amount that Zhao owes the CFTC.
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US regulators will now have access to years of Binance transaction data
news.movim.eu / ArsTechnica · Thursday, 7 December - 14:28 · 1 minute
Enlarge (credit: Wired/Getty)
One attraction of Binance, as the company grew from its 2017 founding into the biggest cryptocurrency exchange in the world, was the firm's freewheeling flouting of rules. As it amassed well over 100 million crypto-trading users globally, it openly told the United States government that, as an offshore operation, it didn't have to comply with the country's financial regulations and money-laundering laws.
Then, late last month, those years of brushing off US regulators caught up with the company in the form of one the most punitive money-laundering criminal settlements in the history of the US Justice Department. The crackdown doesn't just mean a chastened Binance will have to change its practices going forward. It means that when the company is sentenced in a matter of months, it will be forced to open its past books to regulators, too. What was once a haven for anarchic crypto commerce is about to be transformed into the opposite: perhaps the most fed-friendly business in the cryptocurrency industry, retroactively offering more than a half-decade of users' transaction records to US regulators and law enforcement.
When the Department of Justice announced on November 21 that Binance's executives had agreed to plead guilty to criminal money-laundering charges, much of the attention on that settlement focused on founder Changpeng Zhao giving up his CEO role and on the company's record-breaking $4.3 billion fine. But Binance's settlement agreements with the DOJ and the US Treasury Department also stipulate a strict new regime of data-sharing with law enforcement and regulators. The company has agreed to comply with regulators' "requests for information"—a term that carries none of the evidence or suspicion requirements necessary for obtaining a warrant or even a subpoena—to the point of producing any "information, testimony, document, record, or other tangible evidence."
Pourquoi le géant de la crypto Binance est accusé de pratiques abusives en France ?
news.movim.eu / Numerama · Wednesday, 6 December - 13:28
Une formation prodiguée par Binance en France est l'objet d'une enquête du Financial Times. La plateforme d'échange de crypto-monnaie est accusée de recourir recours à des pratiques commerciales agressives pour recruter de nouveaux utilisateurs.
Qui est Richard Teng, le nouveau patron de Binance qui a pris le pouvoir en deux ans
news.movim.eu / Numerama · Wednesday, 22 November - 10:57
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