Are Federal Prosecutors About to Indict Binance as Hedge Funds Face Subpoenas
US authorities have sent subpoenas to American hedge funds and market-making companies dealing with Binance.
Binance, Crypto.com CEOs race to reassure customers funds are safe
CNBC’s MacKenzie Sigalos reports on the contagion effect from the collapse of Sam Bankman-Fried’s bankrupt crypto exchange FTX. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
Why the CFTC Case Against Binance Will Have Very Important Consequences for Crypto – Ep. 475
In this episode, Austin Campbell, a professor at Columbia Business School, discusses the recent allegations made by the CFTC against Binance, and whether or not criminal charges will be brought against company officers such as CEO Changpeng Zhao, or CZ, or former Chief Compliance Officer Samuel Lim. He also sheds light on how this case could shape which agency will have regulatory authority over crypto assets.
CHECK OUT THE EPISODE LINKS AND DETAILS HERE
what the CFTC’s allegations against Binance are
whether Binance and its employees will face criminal charges
what the two most likely scenarios for Binance are, according to Austin
how regulators got so many details and so much information from CZ’s phone
whether CZ is personally liable and whether the US could extradite him
how the CFTC used the complaint to state that BTC, LTC, ETH, and some stablecoins are commodities
Why Austin believes Coinbase would be the “single biggest winner” if Binance US is shut down
how this case is going to help determine which agency has jurisdiction to regulate crypto assets
Thank you to our sponsors!
Austin Campbell, professor at Columbia Business School and Managing Partner at Zero Knowledge Consulting
01:42 CFTC allegations
05:10 Criminal charges
12:34 Changpeng Zhao
18:32 Future of Binance
21:42 Commodities vs. Securities
#bitcoin #ethereum #crypto #cryptocurrencies
WHY BITCOIN NOW? → https://www.youtube.com/watch?v=cuRRVo2Cmsc &list=PLySrw1Nvf-so8QESa6HuO50pPhAreEjO9
CHECK OUT THE CRYPTOPIANS → https://www.youtube.com/watch?v=DFzunCFXrv4
WEBSITE → https://unchainedpodcast.com
UNCHAINED DAILY NEWSLETTER → https://unchainedpodcast.com/category/newsletters/
BULLETIN NEWSLETTER → https://laurashin.bulletin.com
LAURA’S TWITTER → https://twitter.com/laurashin
UNCHAINED TWITTER → https://twitter.com/unchained_pod
FACEBOOK → https://www.facebook.com/unchainedwithlaurashin
YOUTUBE → https://www.youtube.com/c/unchainedpodcast
INSTAGRAM → https://www.instagram.com/laurashin/?hl=en
LINKEDIN → https://www.linkedin.com/in/laurashin/
MERCHANDISE → https://shop.unchainedpodcast.com/
NEW EPISODES OF UNCHAINED EVERY TUESDAY AND FRIDAY!
THE CHOPPING BLOCK LIVESTREAMED EVERY OTHER TUESDAY!
Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
Google Podcast → https://www.google.com/podcasts?feed=aHR0cDovL3VuY2hhaW5lZC5saWJzeW4uY29tL3VuY2hhaW5lZA%3D%3D
Stitcher → https://www.stitcher.com/podcast/forbes-podcast-network/unchained-big-ideas-from-the-worlds-of-blockchain-and-fintech
TuneIn → https://tunein.com/podcasts/Business-News/Unchained-Big-Ideas-From-The-Worlds-Of-Blockchain-p887100/
Youtube → https://www.youtube.com/playlist?list=PLySrw1Nvf-spgSyIkuj8mgibH-ipcUGrs
Website → https://unchainedpodcast.com/category/unchained/
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
YOUR NO-HYPE RESOURCE FOR ALL THINGS CRYPTO!
Binance mixed customer funds and company revenue: sources
Binance, the world’s largest cryptocurrency exchange, commingled customer funds with company revenue in 2020 and 2021, in breach of US financial rules that require customer money to be kept separate, three sources familiar with the matter told Reuters.
#News #Reuters #newsfeed #binance #crypto #cryptocurrency #business
Reuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled.
Get the latest news on: https://www.reuters.com/
Follow Reuters on Facebook: https://www.facebook.com/Reuters
Follow Reuters on Twitter: https://twitter.com/Reuters
Follow Reuters on Instagram: https://www.instagram.com/reuters/?hl=en
Are Federal Prosecutors About to Indict Binance as Hedge Funds Face Subpoenas
US authorities have sent subpoenas to American hedge funds and market-making companies dealing with Binance, the world’s largest cryptocurrency exchange, asking for records of their communications with the exchange.
According to a Saturday report from the Washington Post, the U.S. attorney’s office for the Western District of Washington in Seattle has sent subpoenas to investment firms tied to Binance, asking them to share records of their communications with the platform.
Legal experts have allegedly said the subpoenas do not necessarily mean authorities are likely to bring charges against the exchange. “Prosecutors are still discussing a possible settlement with Binance and weighing whether they have enough evidence to bring indictments against the company,” the Post said.
The subpoenas are part of a larger investigation into the potential violations of money-laundering laws by the world’s largest crypto exchange, which was first reported by Bloomberg in June last year. As per the report, the SEC is also examining whether Binance’s initial coin offering of its BNB token back in 2017 was an unregistered security offering.
The federal probe into Binance has come to light at a time when the crypto industry is struggling with an unfriendly stance from regulators around the globe. The recent implosion of FTX, once the third-largest crypto exchange in the world, has further exacerbated concerns around unregulated online marketplaces where digital assets are bought and sold.
Binance chief strategy officer Patrick Hillmann has reportedly said that the exchange is talking to “virtually every regulator across the globe on a daily basis.” While acknowledging that the exchange had some shortcomings in cooperating and complying with regulatory policies in the early years, Hillmann said Binance is now very serious about compliance. He said:
“Over the last two years, the company has completely changed its posture. Now that we have those resources, we are easily one of the most proactive parties to identify, freeze and get back funds [laundered by criminals].”
In mid-December, Reuters reported that Changpeng Zhao, CEO of Binance, could also face charges for money laundering conspiracy and other violations in the US. As per the report, Binance has been under investigation by the DOJ since 2018. The investigation is reportedly focused on money laundering conspiracy, unlicensed money transmission, and criminal sanctions violations.
A potential plea deal has been reportedly discussed between the DOJ officials and Binance attorneys.
Notably, Binance is not the only major exchange that has been charged with violations of money-laundering laws. Just last week, Coinbase agreed to shell out a total of $100 million to settle a complaint relating to “certain historical shortcomings” in its regulatory compliance work.
#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #binance #binancenews #binancenewstoday #changpengzhao #changpengzhaonews #changpengzhaonewstoday #regulations #regulationsnews #regulationsnewstoday #regulation #regulationnews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! USE ALTCOIN DAILY AS A STARTING OFF POINT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple