
Changpeng Zhao Denies Binance.US Deal With Donald Trump
Reports suggest Trump’s family is exploring the possibility of acquiring a stake in Binance.US through their DeFi project World Liberty Financial. However, Zhao denied this completely.
Reports suggest Trump’s family is exploring the possibility of acquiring a stake in Binance.US through their DeFi project World Liberty Financial. However, Zhao denied this completely.
The restoration of USD services will roll out gradually, allowing eligible users to trade, deposit, and withdraw dollars, as well as access staking and institutional trading.
Norman Reed remains optimistic about the prospect of a friendlier regulatory landscape under the upcoming Trump administration.
Binance.US has recently bolstered its compliance framework to address regulatory criticisms. The company has hired hundreds of former law enforcement and regulatory professionals.
“Each and every promoter of these unregistered securities, including Miami Heat star Jimmy Butler, will be held responsible,” emphasized lead attorney Adam Moskowitz.
For Binance.US, the revival of this lawsuit adds to the growing list of regulatory and legal challenges the company faces in the United States.
Binance said that in a victory for the exchange, the US federal court has dismissed several claims against the exchange. The exchange said that it is ready to address additional legal hurdles that come its way.
Like a couple of other crypto exchanges, Binance and its then-CEO Changpeng Zhao were indicted by the SEC in June 2023.
North Dakota Department of Financial Institutions (DFI) has revoked Binance.US’s money transmitter license due to non-compliance issues.
Now, Binance is looking to re-enter the market to expand its global presence. However, according to Bloomberg sources, the company is struggling to secure new partners with FCA approval.
Eligible Binance customers can now use independent custodians to keep their assets instead of holding them on the Binance exchange.
In the face of the US government’s actions targeting the global Binance exchange, its domestic counterpart, Binance.US, continued its operations within the country.
The ongoing legal battle between the SEC and cryptocurrency exchange Binance carries significant implications for crypto firms operating in the United States.
Binance says it has agreed to a robust monitorship for its compliance and sanctions control programs.
As Zhao steps down, he will transfer his voting rights to a proxy. However, authorities stated that Binance.US is not part of the $4.3 billion settlement of its global entity.