Warning Cookies are used on this site to provide the best user experience. If you continue, we assume that you agree to receive cookies from this site. OK

New Binance CEO Richard Teng Addresses Compliance Issues in First Interview

today 12/06/2023
The new CEO of Binance, Richard Teng, addressed compliance issues during his first interview. He admitted that the company's compliance systems had been inadequate in the past and acknowledged making mistakes. However, Teng avoided giving direct answers about Binance's governance when questioned about its global headquarters, the possibility of an audit, the number of employees, and the company's application for a license in the UK. Teng stated that he had answered each question, but his responses remained vague and unsatisfactory. He became CEO after Changpeng "CZ" Zhao stepped down following a settlement with the US Department of Justice. Teng acknowledged the mistakes made by Binance and the inadequacy of its compliance control given its size. He emphasized that the exchange aims to be both "user-led" and "compliance-led" moving forward. Teng mentioned that auditors have the necessary details but did not disclose a specific auditor. He also hinted at Binance's ability to pay the $4.3 billion fine imposed by the US Justice Department.
Stay Connected
Подпишитесь на нашу рассылку и получайте информацию о выходе новых статей, информацию об эксклюзивных скидках и другое
Или же подпишитесь на наш Telegram, чтоб всегда быть в курсе наших новостей.

Recent posts

01/19/2024

Crypto Scam Based on TV Show The Boy’s Word Sweeping Russia, Warns Central Bank

Russia's Central Bank has issued a warning to citizens about a cryptocurrency scam project that is based on the popular TV show The Boy's Word: Blood on the Asphalt. The project, which also goes by the name "The Boy's Word," is described by the Central Bank as a pyramid scheme that has no official affiliation with the show. The project asks investors to pay $10 in exchange for tokens that supposedly represent the project's own cryptocurrency. The scammers promise high returns of up to 25% per day. Advertisements for the project are circulating on social media platforms, featuring music and images from the TV show, as well as stolen pictures from legitimate cryptocurrency providers' websites. The Central Bank warns that the scammers will eventually disappear with the investors' money, as the project is not licensed to operate in the financial market. Only financial organizations with permits from the Central Bank can request public investment. The project has been added to the Central Bank's list of probable financial pyramid schemes. The TV show has gained significant popularity in Russia and other Russian-speaking countries, surpassing searches related to the war in Ukraine and special military operations.
01/19/2024

New Bitcoin ETFs See Record Daily Flows As Total BTC Holdings Rise to $3 Billion

Newly launched Bitcoin exchange-traded funds (ETFs) experienced their highest daily inflows on the fourth day of trading, with $913.6 million invested on Wednesday. This influx of capital brings the total assets under management for all recently launched ETFs to $2.9 billion. These figures, provided by Bloomberg ETF analyst Eric Balchunas, do not include flows related to the Grayscale Bitcoin Trust (GBTC), which is the largest and most actively traded Bitcoin ETF. The GBTC recently converted into an ETF on January 11 after accumulating over 600,000 BTC prior to conversion. Since the conversion, the fund has experienced consistent outflows as investors sell their long-held BTC or move to newer and cheaper Bitcoin ETFs offered by companies like BlackRock and Fidelity. On Wednesday, the Grayscale Bitcoin Trust saw $450.6 million in outflows, bringing its total net outflows since the ETF conversion to $1.6 billion. Overall, all Bitcoin ETFs have seen net flows of $1.2 billion. The first day of the ETF launch remains the day with the highest Bitcoin ETF inflows when including GBTC, though this includes seed capital such as Bitwise's initial $200 million contribution. Other Bitcoin funds and investment products have also suffered following the ETF launch, including the ProShares Bitcoin Strategy ETF (BITO) and MicroStrategy, which has seen a 25% drop in value since last Thursday. Bitcoin itself has fallen approximately 11% to $41,250 since last week, and newly launched ETFs like the iShares Bitcoin Trust (IBIT) have yet to experience a positive trading day. Coinbase, the custodian for most ETF providers, has also seen a 19% decline in value year to date.
01/18/2024

Ethereum Staking Platform Kiln Raises $17 Million in Funding Round Led by 1kx

Paris-based Ethereum staking platform Kiln has raised $17 million in a funding round led by 1kx. The funding will be used to expand internationally and support decentralized finance (DeFi) reward models. Other investors in the round include Crypto.com, IOSG, Wintermute Ventures, KXVC, and LBank. Kiln plans to use the capital to expand its global presence, particularly in the Asia-Pacific region, and further develop its product offerings in the DeFi space. The platform has seen significant growth, with staked assets under management reaching $4.2 billion in 2023. Kiln aims to democratize value creation in the digital assets ecosystem and is the largest operator of Ethereum validator nodes, representing about 4% of the Ethereum network. The funding will also support the integration of additional reward mechanisms in the DeFi space and the development of a DeFi product for integrator customers.
01/18/2024

Crypto Trader Makes $1 Million in 10 Days Following Elon Musk’s Bio Update

A crypto trader has made $1 million in just 10 days by investing in TROLL tokens following Elon Musk's bio update. The trader initially invested $10,000 and purchased TROLL tokens before their value skyrocketed due to Musk's bio change. The trader turned $300 into $1.03 million by selling some of the TROLL tokens. Despite a slight decrease in TROLL's value, the trader still maintains a significant gain. Other traders have also profited from the price rally of TROLL tokens, with one trader making a $2.7 million profit from a $30,000 investment. Elon Musk's influence on the crypto market is evident, as his tweets and actions can shape the direction of certain assets. For example, his tweets about Dogecoin caused its value to increase by over 50%.