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Crypto Schemes

March 16, 2024

Crypto Exchange Binance Spins Off $10 Billion Venture Unit!

Amidst a tumultuous period of regulatory and legal challenges, Binance has formally separated its venture capital division, Binance Labs, establishing it as an independent entity earlier this year. This significant development occurred shortly after Richard Teng's appointment as CEO in November, taking the helm from Changpeng Zhao (CZ) following CZ's guilty plea related to allegations of sanction violations and breaches of money-transmitting laws in the U.S.

March 13, 2024

Former Binance CEO Had to Surrender His Passports to Make Sure He Meets His Sentencing!

After his guilty plea, his sentencing is scheduled for April 30, 2024. Changpeng Zhao (CZ), the former CEO of Binance, has been ordered by a U.S. court to surrender all his passports to a third party and to inform the authorities of his travel plans. This directive was issued as part of a modification to CZ's bond conditions, ensuring that he remains within the U.S. for the duration of his sentencing process, as stated in a recent legal filing.

February 28, 2024

Legal Implications of Binance’s Guilty Pleas: A Forecast of Increased Litigation Activities!

Binance, the world's largest crypto exchange, and its founder, Changpeng Zhao (CZ), recently pleaded guilty in a landmark legal case that has reverberated through the financial and legal sectors. They acknowledged intentional and knowledgeable support of scams and illegal transactions and have set a significant precedent for the legal responsibilities of crypto service providers.

February 26, 2024

Attention: Introducing the Binance Watchdog Initiative!

In Nov 2023, Binance and its founder, Changpeng Zhao, pleaded guilty to charges of money laundering in the U.S. and agreed to pay a $4.3 billion fine. Apparently, Binance has helped scammers and terrorists with money laundering and thus harmed the entire crypto industry. However, it's a fact that Binance is still doing business without effective supervision, resulting in questionable, if not illegal, business practices.The Binance Watchdog Initiative is here to fight this approach!

February 24, 2024

Legal Analysis: Binance and Changpeng Zhao’s Legal Battles and Settlements with U.S. Authorities

A U.S. court has approved Binance's agreement to plead guilty to charges of violating anti-money laundering and sanctions laws, resulting in a staggering penalty exceeding $4.3 billion. This resolution comes in the wake of meticulous investigations that highlighted the world's largest crypto exchange's shortcomings in reporting suspicious transactions, some of which were linked to designated terrorist groups such as Hamas, al Qaeda, and ISIS.

February 24, 2024

Legal Update: U.S. Prosecutors Seek Stricter Conditions for Binance Founder Changpeng Zhao Pending Sentencing

U.S. prosecutors have requested the court to implement more stringent bond conditions for Changpeng Zhao (CZ), the disgraced billionaire founder of Binance, as he awaits sentencing in April for violations of a federal anti-money laundering statute. The adjustments to Zhao's bond terms, should they be approved, would necessitate the surrender of his Canadian passport and obligate him to notify prosecutors at least three days prior to any domestic travel.

February 3, 2024

Disgraced Crypto Exchange Binance And Its Efforts To Become Compliant!

Binance, the embattled titan of the crypto exchange world, has unveiled a significant upsurge in its compliance budget. Fortune reports that this move, a 35% increase, propels the budget from $158 million to a hefty $213 million. It publicly underscores Binance's (forced) dedication to regulatory compliance. This increase symbolizes a new chapter in the company's operational playbook. At the heart of this strategic overhaul is the reappointment of Steve Christie as the deputy chief compliance officer.

January 31, 2024

Urgent Warning and Call for Action: Binance Under Regulatory Scrutiny is Freezing Accounts!

Binance has faced regulatory challenges for several years. Notably, in 2022, the UK's Financial Conduct Authority (FCA) expressed concerns about its inability to oversee Binance's operations effectively. The situation escalated in November 2023 when Binance and its CEO, Changpeng Zhao (CZ), admitted to breaching U.S. financial laws and engaging in money laundering activities. This admission led to a hefty settlement of $4.3 billion, with CZ's sentencing scheduled for February 2024.

January 25, 2024

Revealed: Binance Founder Was Denied Travel Before Sentencing Despite High Bail!

Changpeng Zhao (CZ), the founder and former CEO of Binance, faced a setback when a federal judge denied his request to travel to the United Arab Emirates for a personal emergency. This decision came despite CZ's offer to secure his return to the U.S. with his Binance equity, valued at an impressive $4.5 billion, as a guarantee for his return. This valuation was based on the last fundraising round of Binance, conducted two years ago.

FinTelegram

January 19, 2024

Binance’s Remarkable Resurgence Post U.S. Settlement: Dominating the Crypto Exchange Market!

In an extraordinary turn of events, Binance, the world's leading crypto exchange, has demonstrated a formidable comeback following its legal settlement in the United States, solidifying its position as the top global crypto exchange. As of January 19, 2024, the Binance coin BNB has been trading at $312, up 38% since Nov 21, 2023. This is an impressive testament to the growing investor confidence in Binance's stability and potential.

January 14, 2024

Terraform Labs Founder Do Kwon Requests Trial Delay Amid Extradition Procedures!

Do Kwon, the former CEO of Terraform Labs, is facing a prolonged legal battle, with his legal team now expecting delays in his extradition proceedings from Montenegro. These delays could postpone Kwon's arrival in the U.S. for his trial with the U.S. Securities and Exchange Commission (SEC) until February or March 2024. Terra's collapse in May 2022 led to a severe bear market and the bankruptcy of several large crypto schemes.

December 27, 2023

Binance Founder Changpeng Zhao And Other Crypto Entrepreneurs Saw Massive Wealth Growth In 2023.

In 2023, Changpeng Zhao (CZ), the founder and former CEO of Binance, experienced a remarkable wealth increase despite significant legal challenges.CZ's net worth soared by about $25 billion, reaching an estimated $37 billion. This surge was primarily driven by the recovery in crypto markets and increased trading volumes on Binance, the world's largest crypto exchange.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.

Prison Update: Sam Bankman-Fried Transferred to Low-Security Federal Prison in Los Angeles!

Sam Bankman-Fried (SBF), the founder of the now-defunct cryptocurrency exchange FTX, has been transferred to the Federal Correctional Institution (FCI) Terminal Island in Los Angeles, California. This low-security facility is known for housing non-violent offenders and has previously held notable inmates such as Ramesh "Sunny" Balwani, former COO of Theranos.