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Judge Postpones Asset Freeze as Binance US and SEC Agree to Work on Deal
14.6.2023
A judge in Washington decided to give Binance US and the Securities and Exchange Commission (SEC) time to work out a deal to avoid the freezing of the exchange’s assets. The two sides are close to an agreement that will protect customer funds without paralyzing the crypto trading platform. Crypto...
An In-Depth Look at Binance’s TRO Opposition, Filing Insists SEC Manufactured an Emergency ‘for Its Own Purposes’
14.6.2023
Binance fired back at the U.S. Securities and Exchange Commission’s temporary restraining order (TRO) request on Monday, assuring the court that “there is no risk” to customer assets. The exchange’s legal team dismissed the notion of an “emergency,”...
Binance Lawyers Push Back Against US SEC Claims That Binance.US Customer Assets Are at Risk
13.6.2023
Attorneys for Binance.US and Binance CEO Changpeng Zhao argued that the US Securities and Exchange Commission’s temporary restraining order to freeze its assets should be denied.
There is no risk to customer assets, the lawyers said on Monday in a court filing ahead of a Tuesday hearing...
Former SEC Official Predicts Impending DOJ Indictment Against Binance
12.6.2023
Former Securities and Exchange Commission (SEC) official John Reed Stark said on Sunday via Twitter that he believes the U.S. Department of Justice (DOJ) has filed or will file a criminal indictment related to Binance. Stark, who draws from his experience in the SEC Enforcement Division, pointed...
FTX authorized to 'permanently redact' customer names from all bankruptcy filings
11.6.2023
The court has granted FTX permission to remove customer names from all bankruptcy filings in an effort to protect them from scams and identity theft
Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns
10.6.2023
In the FTX bankruptcy case, the presiding judge John Dorsey has ruled to maintain the confidentiality of individual customer identities, according to a recent decision on Friday. Dorsey emphasized the importance of safeguarding these clients, expressing concern for their potential vulnerability...
Court Supports FTX's Request to Remove Customer Names from Bankruptcy Filings
10.6.2023
Bankrupt cryptocurrency exchange FTX has secured court permission to remove the names of its customers from all filings in its bankruptcy case.
The US Bankruptcy Judge John Dorsey in Wilmington, Delaware, has concluded that publishing the names of individual customers could put them at risk...
Digital Asset Trust Firm Bitgo Sets Sights on Prime Trust Acquisition
9.6.2023
In a recent development, Bitgo, the digital asset trust firm, disclosed that it has penned a letter of intent to acquire Prime Trust, a crypto custodian based in Nevada. Should the acquisition proceed, Prime Trust would become an integral part of Bitgo’s network of regulated trust companies....
FTX argues releasing ‘valuable’ customer list will harm its sale value
9.6.2023
Releasing the nine million-strong list of customers would “impair” the ability to maximize value for FTX creditors, a banker for the exchange said
Crypto Exchange Bittrex’s Customer-Repayment Plan Faces U.S. Government Objection
8.6.2023
If successful, it wouldn’t be the first time the state has scuppered a crypto bankruptcy proposal
SEC lawsuit claims Binance.US, Changpeng Zhao put customer funds ‘at significant risk’
7.6.2023
One of the latest SEC filings in its lawsuit against Binance says billions in customer funds are at the “mercy” of Binance CEO Changpeng Zhao
SEC Seeks Court Approval to Freeze Binance US Crypto Assets, Citing Customer Safety Concerns
7.6.2023
Seeking court approval, the U.S. Securities and Exchange Commission (SEC) is actively pursuing a measure to freeze cryptocurrency assets linked to Binance US. In order to to “ensure the safety of customer assets,” the securities regulator deems this action as an urgent necessity. SEC Files...
Crypto Exchange Kraken’s Canada Customer Deposits Rose 25% After Binance Announced Departure
1.6.2023
Kraken also saw a fivefold increase in app downloads within a week of OKX saying it was leaving the country back in March
Hackers Breach Nigerian Crypto Trading Platform — BTC and Naira Assets Compromised
29.5.2023
The Nigerian gift card and crypto trading platform, Patricia, announced on May 26 that one of its trading applications had been breached and that BTC as well as naira assets were compromised. The crypto exchange platform said it has since suspended withdrawals and is presently “undergoing...
Binance Accused of Mixing Company Revenue with Customer Money In U.S
24.5.2023
The world’s largest crypto exchange, Binance, has mixed company revenues with customer funds in the US, according to a Reuters report.
The comingling of customer funds and company revenues happened “almost daily” in bank accounts the exchange had at the now-bankrupt crypto-friendly bank...
Binance security boss warns of rise in verification-spoofing AI deepfakes
24.5.2023
The technology is getting so advanced, deepfakes may soon become undetectable by a human verifier, said Jimmy Su, Binance's Chief Security Officer
Reuters Says They Stand by Its Reporting On Binance Commingling Customer Funds
24.5.2023
Reuters says it stands by its reporting following criticism it received from a Binance executive on its story that said the world’s largest crypto exchange commingled customer funds.
In a story published on Tuesday, Reuters reporters said that Binance commingled customer funds with company...
Binance Denies Reuters Report That It Commingled Customer Funds
23.5.2023
Binance is pushing back against a Reuters report that said the world’s largest cryptocurrency exchange commingled customer funds with company revenue in 2020 and 2021.
Binance Chief Communications Officer Patrick Hillmann called the story “weak,” in a five paragraph tweet on Tuesday....
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Binance Blasts 'Desperate' Reuters Report It Commingled Customer and Company Funds
23.5.2023
"We’ve addressed this on multiple occasions. We keep our user and corporate funds on completely separate ledgers," Patrick Hillmann, Binance's chief communications officer tweeted on Tuesday
Binance denies fund mismanagement allegations, calls it ‘conspiracy theory’
23.5.2023
A mainstream report citing multiple insiders claimed that Binance mingled customer's funds with corporate funds at Silvergate Bank