Tag Archives: Changpeng Zhao (CZ Binance)

Following his departure from the crypto exchange Binance last November, the company’s founder and former CEO Changpeng Zhao, also known as “CZ,” is looking to establish a non-revenue, free education project. The new venture targets underprivileged kids who have no access to education in developing countries. A Free, Online Education Platform for Children In an X post on March 19, Zhao said that the new project, called Giggle Academy, is “gamified” and “adaptive” and will...

In a recent development in the continuing legal situation involving Changpeng Zhao, the ex-CEO of Binance, the United States has instructed him to surrender all his active or expired passports to a designated third party. This directive was revealed in a legal filing submitted on March 12, changing Zhao’s bond conditions for release. Travel Restrictions and Bans According to the filing, United States District Judge A. Jones, presiding over the case, has stipulated that Zhao...

A U.S. federal judge has approved Binance’s guilty plea and a hefty $4.3 billion settlement deal for violating anti-money laundering (AML) and sanctions laws through its cryptocurrency exchange. According to a Reuters report, the plea and the settlement were accepted on Friday, February 23. The Settlement Deal The U.S. Department of Justice (DOJ) had announced the plea deal and settlement in November, alleging that Binance had violated the Bank Secrecy Act (BSA), the...

Following the guilty plea of Changpeng Zhao (CZ), founder and former CEO of crypto exchange Binance, in November 2023, several American states have asked the local arm of the trading platform to refrain from servicing their residents. The Wall Street Journal reported that authorities in Florida and Alaska recently instructed Binance.US to cease its services in the regions. Florida and Alaska Restrain Binance.US Recall that the Department of Justice (DOJ) announced a $4.3...

Changpeng Zhao, the founder of the crypto exchange Binance, encountered a setback last month when a federal judge denied his request to travel to the United Arab Emirates. CZ proposed using his substantial $4.5 billion stake in Binance as collateral, based on the company’s valuation from its last fundraising round two years ago. However, the Judge still rejected the request. Zhao Requests Travel Permission In November, Zhao pleaded guilty in a Seattle federal court for...

Binance co-founder Yi He held at least a 10% share in Binance’s Cayman Islands holding company, according to a new report by WSJ. A former talk-show host, Yi He, reportedly holds significant influence over the marketing and investment sectors of the company. She also assumes the role of the largest shareholder within the firm in the absence of CEO Changpeng “CZ” Zhao. Yi He’s Influence on Binance The WSJ report made several interesting claims, including Yi He proposing a...

Following his resignation as CEO of Binance, crypto billionaire Changpeng Zhao has now stepped down as the chairman of the board of directors at Binance.US – the exchange giant’s American arm. Binance.US confirmed CZ’s exit in a post to X on Tuesday, addressing various concerns related to the Justice Department’s historic settlement with its parent company last week. “[CZ] has decided to step down from his role as Chairman of our Board of Directors and transferred his voting...

Binance is the largest crypto exchange in the world by volume. The company just recently turned six years old earlier this year. In addition to Zhao stepping down as CEO, Binance agreed to settle DOJ charges of money laundering with a $4.3 billion fine. Furthermore, the exchange saw over $1 billion in outflows in under 24 hours as customers withdrew funds and tokens following the news. Supporters sent CZ an outpouring of sympathy and cheers on X.com. Here are three powerful...

Richard Teng, the new CEO of the world’s largest cryptocurrency exchange, Binance, is no stranger to the world of finance. His ascent into the new position substantiates rumors that made the rounds earlier this year about him being the right fit for the job amid Binance’s regulatory woes. According to a company blog post, Teng joined the exchange in August 2021 as the CEO of Binance Singapore, with over three decades of experience in finance and the regulatory space. Facts...

The U.S. Department of Justice has settled charges against crypto exchange giant Binance for $4.3 billion, bringing investigations spanning back to 2018 to a close. The DOJ confirmed the settlement in a live video announcement on Tuesday, marking one of the largest enforcement actions ever closed in a crypto-related case. The company pled guilty to willfully floundering the Bank Secrecy Act, among other things. It now must report suspicious financial activity to federal...