binance
Crypto Exchange Giant Ramps Up Compliance Hiring, Spends $200 Million
- Binance plans to hire 1,000 new employees in 2024, with 20% focused on compliance roles.
- The new CEO of the company wants the compliance team to consist of 700 people by the end of 2024.
Thursday, 22/08/2024 | 08:26 GMT by
Damian Chmiel
Binance Claims to Have Prevented $2.4 Billion in Fraudulent Losses in 2024
- A significant portion of the detected threats involved suspicious crypto withdrawals, whereby Binance flagged over $1.1 billion.
- By July 31, 2024, Binance had reportedly recovered over $73 million in lost or misplaced funds.
Tuesday, 20/08/2024 | 14:58 GMT by
Jared Kirui
Binance to Pay $1.7M Fine in Brazil for Derivatives Trading Violations
- Previously, CVM rejected Binance's initial settlement offer of $370,000 in August 2023, deeming it insufficient.
- The case, which began in July 2020, involves alleged unauthorized derivatives trading in Brazil.
Wednesday, 14/08/2024 | 20:19 GMT by
Jared Kirui
Binance.US Faces Setback as Appeals Court Validates HEX Token Manipulation
- Ninth Circuit disagrees with district court, finds valid claims in HEX price manipulation case.
- Binance.US and CoinMarketCap face renewed legal scrutiny after appeals court ruling.
Tuesday, 13/08/2024 | 07:13 GMT by
Tareq Sikder
Binance Faces Access Challenges as Venezuela Tightens Web Controls
- President Nicolas Maduro announced a 10-day block on access to X to prevent what he claims are efforts to destabilize the country.
- Binance has acknowledged the access issues and is working to resolve them while ensuring the security of users' funds.
Monday, 12/08/2024 | 19:35 GMT by
Jared Kirui
Binance Recovers $73 Million in Stolen Cryptocurrency, Up 33%
- Around 80% of the recovered and frozen funds are linked to hacks and thefts that occurred outside Binance.
- However, the increase in recovered funds does not suggest a rise in criminal activity within the cryptocurrency space.
Thursday, 08/08/2024 | 13:56 GMT by
Jared Kirui
Binance Pushes Back against India's $86 Million Show Cause Notice: Report
- The exchange is facing multiple legal challenges in India, including a previous $2.2 million fine for anti-money laundering violations.
- The tax authorities claim Binance earned over $476 million in transaction fees from Indian customers.
Tuesday, 06/08/2024 | 18:58 GMT by
Jared Kirui
Binance Money Laundering Trial Postponed in Nigeria over Missing Medical Records: Report
- The judge delayed the trial because a medical report belonging to Binance's Head of Financial Crimes Compliance was not submitted as evidence.
- The court also issued a warrant of arrest for the hospital's medical director and ordered Gambaryan admitted to the hospital for 24 hours.
Tuesday, 16/07/2024 | 17:53 GMT by
Jared Kirui
Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October
- The exchange's representative pleaded not guilty to all charges during a recent hearing.
- Similar charges against two Binance executives were dropped in June, but they still face separate money laundering allegations.
Friday, 12/07/2024 | 13:35 GMT by
Jared Kirui
Binance Gains Advantage in SEC Case as Judge Dismisses Key Claims
- The court ruled that Binance's native BNB tokens and fiat-backed stablecoin BUSD do not qualify as securities.
- However, the SEC's claim on direct sales of BNB as securities transactions will proceed.
Tuesday, 02/07/2024 | 18:32 GMT by
Jared Kirui
Binance FZE General Manager Alex Chehade to Exit after Two Years: Report
- Chehade was reportedly instrumental in securing the Dubai VARA license for Binance FZE in April.
- Sources indicated that Chehade was considered a potential future board member of Binance, making his departure surprising.
Thursday, 27/06/2024 | 12:38 GMT by
Jared Kirui
MiCA Is Already Here: Binance Restricts EU Users from Copy Trading and Many Stablecoins
- Major crypto exchange announces sweeping changes to comply with new EU regulations.
- This means the end of copy trading in the EEA and a limitation to only three "authorized" stable tokens.
Wednesday, 26/06/2024 | 07:07 GMT by
Damian Chmiel
Binance.US Lost Money Transmitter License in Seven US States
- North Dakota has become the latest state to cancel the money transmitter license of Binance.US.
- The exchange also paused new onboarding in Connecticut, Georgia, Ohio, Minnesota, and Washington.
Wednesday, 19/06/2024 | 07:06 GMT by
Arnab Shome
Binance Leaders Off the Hook in Nigeria Tax Evasion Case after Legal Shuffle
- Tigran Gambaryan and Nadeem Anjarwalla denied the tax evasion charges and were removed as defendants in the case.
- Nigeria blames Binance amid currency challenges, citing cryptocurrency platforms' role in trading the Nigerian naira.
Friday, 14/06/2024 | 13:39 GMT by
Tareq Sikder
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