FTX Legal Department Jumps Ship, Binance Deal Fizzles Out
The FTX drama continues as the deal with its competitor Binance falls apart. According to several reports, employees at the platform are fleeing amid growing concerns about a massive $6 billion hole on the company’s balance sheet. Related Reading: Bitcoin On-Chain Data: Selling From Whales Holding 1k+ BTC Behind Crash A report from Semafor indicates that FTX’s legal and compliance staff left en masse as the company announced its deal with Binance. The report cites people familiar with the matter speculating on the company’s hurdles to completing any agreement without a legal staff. FTX’s....
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Thanks to the FTX/Alameda saga, the crypto market has taken a nosedive, dragging everyone along. But while the entire market bleeds, OKB, the native token of OKX exchange, has held on to substantial weekly gains. Specifically, the token is trading at $18.61, a 14.57% rise in the last seven days. However, its daily price hasn’t been pretty. As of writing, OKB has lost over 12%, and there’s no hope of recovery anytime soon. The only other crypto that held on to its weekly gain was Polygon’s MATIC. The token kept over 9% from last week but has since shed all that profit. It has joined the....
Binance co-founder Changpeng “CZ” Zhao has refuted claims that he agreed to testify against TRON founder Justin Sun as part of the settlement terms in his deal with the United States Department of Justice. ‘WSJ Is Really Trying Here’ – Binance Co-Founder According to an April 11 report by the Wall Street Journal, CZ agreed […]
Changpeng “CZ” Zhao has stirred fresh talk that he may be stepping back into a bigger public role at Binance after a sudden change to his X profile and a string of developments around the exchange. Related Reading: Ethereum Bulls Target $8,500 With Big Money Backing The Move – Details Market moves and reports about talks with US law enforcement have fed the chatter, but legal limits remain a central part of the story. Profile Change Sparks Speculation Based on reports, CZ updated his X profile from “ex-@binance” back to “@binance,” a small public tweak that many traders and observers took....
Binance.us has hired Manuel Alvarez, a former financial regulator from California, to work as its chief administrative officer. The San Francisco-based crypto exchange, which sources technology from Binance, is aiming to deal with “the big question” — compliance. Binance.us Filling Roles in Compliance, Risk Management, and Legal Binance.us, powered by matching engine and wallet technologies licensed from the world’s leading coin trading platform, announced the appointment of Alvarez in a statement released this week. The exchange’s new chief administrative....
Binance, one of the largest cryptocurrency exchanges, faces mounting challenges as it navigates a complex legal landscape with the US Department of Justice (DOJ). According to a report by The Wall Street Journal, Binance’s empire is “under threat,” leading to significant consequences for the crypto industry as a whole. Related Reading: Taiwan Rolls Out 10-Point […]