Digital Assets Will Be an Important Part of Mainstream Finance, Says Binance.US CEO

December 24, 2024 Bitcoin.com

Binance.us

Binance.US expects digital assets to anchor mainstream finance in 2025, despite ongoing legal battles with the SEC that the company says have stifled innovation. Binance.US Interim CEO Reflects on Challenges, Eyes Crypto’s Future in 2025 Binance.US Interim CEO Norman Reed has shared his reflections on the platform’s challenges and growth prospects as 2025 approaches, underscoring […]

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

Crypto Biz: Wall Street gets a taste of altseason

December 7, 2024 Coin Telegraph

Binance.us

This week’s Crypto Biz explores Ether ETFs growing inflows, the political moves behind Meta’s stablecoin sunset, BitGo’s plans for India, and more.

Wall Street appears to have embraced the altseason, with Ether (ETH) surpassing Bitcoin (BTC) in exchange-traded funds inflows during the final week of November.

According to CoinShares, net inflows for ETH funds reached $634 million over that week, setting a new record of $2.2 billion in 2024 as investors diversify portfolios in anticipation of improved regulatory conditions in the United States.

Markets are likely watching the prospects of additional revenue coming from ETH funds. Analysts from Bernstein Research anticipate that Ether ETFs may soon feature staking yields. “We believe, under a new Trump 2.0 crypto-friendly [Securities and Exchange Commission], ETH staking yield will likely be approved,” Bernstein said on Dec. 2.

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

SEC defends amended suit against Binance, CZ over securities claims

December 5, 2024 Coin Telegraph

Binance

In the latest round of the SEC suit against Binance, Binance.US and CZ, the agency has largely repeated itself in a form more acceptable to the court.

The United States Securities and Exchange Commission (SEC) has responded to a motion for the dismissal of its amended suit against cryptocurrency exchanges Binance and Binance.US and former Binance CEO Changpeng Zhao alleging they operated an unregistered securities exchange. The allegation is based on the sale of ten cryptocurrencies on the secondary market intermediated with the exchange’s BNB coin.

The SEC filed an amended complaint after Judge Amy Berman Jackson in the US District Court for the District of Columbia questioned the reasoning in a complaint making the same allegations. The Binance exchanges and Zhao filed a motion for the dismissal of the complaint on Nov. 4.

The SEC’s Memorandum of Law opposing the motion to dismiss responds to their claim that the SEC complaint does not plausibly produce facts to satisfy the Howey test. The memorandum discusses each prong of the test and reiterates the SEC’s position on them.

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

20-Year Prison Sentence Looms for Man Accused of Crypto Money Laundering Scheme

October 18, 2024 Bitcoin.com

Binance

A North Carolina man has been indicted for allegedly laundering more than $380,000 in a wire fraud scheme, according to the Department of Justice. The suspect is accused of moving illicit funds through payment platforms and cryptocurrency exchanges, transferring over $240,000 to crypto addresses. The money laundering conspiracy charge could result in a 20-year prison […]

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

Binance.US Given Permission by Courts To Invest Customer Funds in US Treasuries

July 22, 2024 The Daily Hodl

Binance

The American arm of crypto exchange Binance has just secured court approval to invest its customer assets in US Treasury bills (T-bills). In an order dated July 19th, Judge Amy Berman Jackson for the District of Columbia greenlights Binance.US to invest “certain customer fiat funds” that are now in the custody of digital asset trust […]

The post Binance.US Given Permission by Courts To Invest Customer Funds in US Treasuries appeared first on The Daily Hodl.

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

Binance US Confident in Legal Battle Against SEC as Case Moves Forward

July 3, 2024 Bitcoin.com

Binance

Binance US responded to the court’s decision to allow the SEC lawsuit to proceed, expressing confidence in its position and criticizing the SEC’s regulatory approach. “We remain confident in our position that the SEC’s case is unsupported by the facts or the law, and that the Commission lacks the very authority it is seeking to […]

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

North Dakota latest US state to revoke Binance.US license

June 19, 2024 Coin Telegraph

anti-money laundering

North Dakota’s Department of Financial Institutions Commissioner pointed to Binance’s money transmitter and AML convictions to make its case.

North Dakota’s financial regulator has revoked a money transmitter license for Binance’s United States arm, Binance.US — making it the seventh state to do so.

North Dakota Department of Financial Institutions (DFI) Commissioner Lise Kruse said on June 17 that BAM Trading Services — conducting business as Binance.US — failed to comply with the state’s money transmitter laws.

A revocation order notes Binance and founder Changpeng Zhao’s November federal conviction for conspiracy to conduct an unlicensed money-transmitting business and a failure to maintain an effective anti-money laundering program as reasons to pull the license.

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

Multiple US States Have Revoked Binance US Crypto Licenses

June 18, 2024 Bitcoin.com

Binance

Multiple U.S. states have revoked or declined to renew Binance US money transmitter licenses due to compliance issues and legal troubles involving former CEO Changpeng Zhao (CZ). “North Dakota joins Alaska, Florida, Maine, North Carolina, and Oregon who have taken similar actions to revoke or deny the renewal of BAM Trading Services’ Money Transmission License,” […]

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

Ex-New York Fed chief joins Binance.US board

April 16, 2024 The Crypto Briefing

Binance

Embattled crypto firm Binance.US has appointed former New York Fed compliance chief Martin C.

The post Ex-New York Fed chief joins Binance.US board appeared first on Crypto Briefing.

Three Altcoins Skyrocket in Hours After Going Live on Top US Crypto Exchange Coinbase

Binance.US Has Laid Off Majority of Its Staff and Suffered Blows to Revenue Due to SEC Lawsuit: Report

March 7, 2024 The Daily Hodl

Binance

Binance’s US arm is reportedly downsizing amid legal challenges with federal securities regulators. In June, the U.S. Securities and Exchange Commission (SEC) filed 13 charges against Binance and its founder Changpeng Zhao for allegedly selling unregistered securities, misleading investors about security protocols and mishandling customer funds. Binance.US, which operates under BAM Trading, is also accused […]

The post Binance.US Has Laid Off Majority of Its Staff and Suffered Blows to Revenue Due to SEC Lawsuit: Report appeared first on The Daily Hodl.

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