Investors pulled about $956 million from crypto exchange Binance over the past 24 hours, after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty to settle a U.S. illicit finance probe. The deal raises questions over the future of the world's largest crypto exchange and marks another blow for an industry beset by scandals.
Investors pulled about $956 million from crypto exchange Binance over the past 24 hours, after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty to settle a U.S. illicit finance probe. The deal raises questions over the future of the world's largest crypto exchange and marks another blow for an industry beset by scandals. Zhao has been replaced by Richard Teng , a senior Binance executive.
It remained unclear how much jail time Zhao would serve and how much influence he could continue to exert on Binance
Binance Crypto Exchange Investors Withdrawal CEO Prison Time Illicit Finance Probe Richard Teng
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance Announces Web3 Wallet at Binance Blockchain Week 2023 in IstanbulCrypto Blog
Read more »
Binance founder CZ’s fortune gets slashed $12B, while SBF is still at $0The net worth of Binance founder Changpeng “CZ” Zhao shrunk by $11.9 billion on with the crypto kingpin now worth $17.3 billion and landing in 95th place on the Bloomberg Billionaires Index.
Read more »
Binance and CZ renew calls to dismiss CFTC lawsuitThe legal team for Binance and CEO Changpeng Zhao has filed a reply in federal court to petition for a CFTC case to be dismissed with prejudice.
Read more »
Binance CEO CZ Steps Down After Pleading Guilty to Criminal ChargesBinance CEO Changpeng 'CZ' Zhao has been forced to step down as head of the company after pleading guilty to criminal charges in the United States. Binance also pled guilty and agreed to pay $4.3 billion for wrongdoing. The incident raises questions about the accountability of high-profile crypto figures.
Read more »
Binance and Founder Plead Guilty to Criminal Charges in the USThe world’s largest crypto exchange, Binance, and its founder, Changpeng Zhao, pleaded guilty yesterday to criminal charges in the US, releasing a wave of pent-up tension that had hung over the crypto industry for years.
Read more »
Binance fake-app scammers steal crypto funds via malicious Skype app: SlowMistBlockchain security firm SlowMist revealed how a phishing attack via a fake Skype app was used to steal crypto funds.
Read more »