* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, July 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Binance-DoJ Deal – Five Things We Learned

November 22, 2023
in Business
Binance-DoJ Deal – Five Things We Learned
Share on FacebookShare on Twitter

http://fullycrypto.com/

By Mark Hunter

7 hours agoWed Nov 22 2023 08:21:13

Binance-DoJ-Deal---Five-Things-We-Learned

Reading Time: 3 minutes

The crypto world was rocked yesterday when Binance was hit with a massive $4.3 billion fine and its CEO, Changpeng Zhao, stood down
The news came after a two-year investigation involving various US offices
What were they key takeaways from the explosive event?

The finance and crypto worlds were rocked yesterday when the Department of Justice (DoJ) announced a $4 billion+ set of fines for Binance over its long-running criminal investigation. Lots has been written and said following the explosive news, but what were the key takeaways? Let’s find out.

$4.35 Billion in Fines Settles CFTC Case

Yesterday’s agreement saw Binance plead guilty to violating the Bank Secrecy Act and the International Emergency Economic Powers Act and also failing to register as a money transmitting business. The fine is made up of $2.5 billion as a forfeit and $1.8 billion in criminal fines. Separately, it also reached agreements with the Commodity Futures Trading Commission (CFTC), The Financial Crimes Enforcement Network (FinCEN), and The Office of Foreign Assets Control (OFAC), with $1.8 billion worth of the fines going to those offices. These fines will be paid over 15 months.

$1.35 billion of the fine was the sum of the trading fees that Binance accrued through illegally offering its platform to US users and the amount is a record for the CFTC, which sued the exchange in March. Binance initially denied the charges. 

Zhao Could Face Prison

Changpeng Zhao pleaded guilty to a US criminal charge of failure to protect against money laundering, which resulted in an immediate $50 million fine and the possibility of an 18-month imprisonment down the road.

He has stepped down as Binance CEO and is prohibited from participating in Binance management in the future. He also signed a $175 million personal recognizance bond, securing his release until the sentencing hearing scheduled for February 23, 2024.

In an X post, Zhao admitted that he “made mistakes” for which he “must take responsibility.” He also noted that the DoJ did not allege any misappropriation of funds by Binance or any market manipulation.

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.

Binance is no longer a baby. It is…

— CZ 🔶 Binance (@cz_binance) November 21, 2023

Binance Will Sever all US Ties

The agreement will see Binance sever all ties in the US, with the company also agreeing to retain an independent compliance monitor for three years and, according to the DoJ, “remediate and enhance” its anti-money laundering and sanctions compliance programs. The CFTC sought Binance’s ejection from the US market when it filed its lawsuit in March, which it has achieved.

More Cases Pending

Binance’s, and Zhao’s, problems are far from over following the deal. The exchange still faces charges brought by the Securities and Exchange Commission (SEC) which has accused it of operating an illegal exchange, commingling customer assets, and redirecting billions of dollars of customer funds into an account controlled by CEO Changpeng Zhao. It, too, wanted to ban Binance, Binance.US, and Zhao from operating in the US, as well as levying a presumably hefty fine and disgorgement.

The DoJ also stated that the criminal investigation department of the IRS is “investigating the case,” which is being headed up by Bank Integrity Unit Deputy Chief and National Cryptocurrency Enforcement Team Deputy Director Kevin Mosley. This could spell much further trouble for Binance and Zhao if it turns out that they have infracted its strict rules.

Binance Will Carry On… For Now

Binance doesn’t seem to be in any mood to capitulate, at least until other fines roll in, with Richard Teng, the company’s former Global Head of Regional Markets, named the new CEO. Zhao called Teng a “highly qualified leader… with over three decades of financial services and regulatory experience,” all of which he’ll need to settle the ship following Zhao’s departure and navigate Binance’s new direction

Fortunately, Teng seems to be in the position to give it a good shot; he was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market, Chief Regulatory Officer of the Singapore Exchange, and Director of Corporate Finance in the Monetary Authority of Singapore.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FullCrypto – https://fullycrypto.com/binance-doj-deal-five-things-we-learned?utm_source=rss&utm_medium=rss&utm_campaign=binance-doj-deal-five-things-we-learned

Tags: Binance-DoJbusinessThings
Previous Post

Ripple (XRP) Chief Lawyer Comments on the SEC’s Actions in the Binance v. DOJ Saga

Next Post

Sam Altman Still Heading Up Worldcoin

Owls inspire new revolutionary noise reduction technology – KTEN

Owls inspire new revolutionary noise reduction technology – KTEN

June 30, 2025
Alexis Washington is sporting experience from the TV studio – VCU News

Alexis Washington Shines Bright with Her TV Studio Expertise

June 30, 2025
Aceso Life Science Group Enhances Governance with New Nomination Committee Appointment – TipRanks

Aceso Life Science Group Boosts Leadership with Exciting New Nomination Committee Appointment

June 30, 2025
Aceso Life Science Group Updates Board Composition and Roles – TipRanks

Aceso Life Science Group Updates Board Composition and Roles – TipRanks

June 30, 2025
59 Years Ago Today… – Corvette: Sales, News & Lifestyle – CorvetteBlogger

59 Years Ago Today… – Corvette: Sales, News & Lifestyle – CorvetteBlogger

June 30, 2025
Botafogo sack manager Paiva after Club World Cup exit – Reuters

Botafogo sack manager Paiva after Club World Cup exit – Reuters

June 30, 2025
Deep inside U.S. economy, more sticker prices start going up due to tariffs, and inventory is headed down – CNBC

Soaring Tariffs Drive U.S. Prices Up Amid Shrinking Inventory Levels

June 30, 2025
A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

June 30, 2025
Immune Health Supplements Market Size to Reach USD 56.23 – GlobeNewswire

Immune Health Supplements Market Size to Reach USD 56.23 – GlobeNewswire

June 30, 2025
‘I don’t believe in losing’: GOP lawmaker responds to concerns about passing bill | CNN Politics – CNN

‘I don’t believe in losing’: GOP lawmaker responds to concerns about passing bill | CNN Politics – CNN

June 30, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (700)
  • Economy (725)
  • Entertainment (21,614)
  • General (15,640)
  • Health (9,764)
  • Lifestyle (730)
  • News (22,149)
  • People (725)
  • Politics (731)
  • Science (15,942)
  • Sports (21,222)
  • Technology (15,710)
  • World (705)

Recent News

Owls inspire new revolutionary noise reduction technology – KTEN

Owls inspire new revolutionary noise reduction technology – KTEN

June 30, 2025
Alexis Washington is sporting experience from the TV studio – VCU News

Alexis Washington Shines Bright with Her TV Studio Expertise

June 30, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version