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Binance CEO Changpeng “CZ” Zhao expressed pleasure at the amicable resolution of a recent emergency relief request from the U.S. Securities and Exchange Commission (SEC) that would have resulted in the freezing of client funds. Binance.US and SEC agree on consent order CZ highlighted the company’s commitment to ongoing operations despite the difficulties and regulatory barriers faced by Binance recently. He emphasized that user funds are safe and secure across all Binance-related services and will remain so in the future. Although we maintain that the SEC's request for emergency relief was entirely unwarranted, we are pleased that the disagreement over this request was resolved on mutually acceptable terms. User funds have been and always will be safe and secure on all Binance-affiliated… — CZ Binance (@cz_binance) June 17, 2023 The cryptocurrency exchange has continuously prioritized the safety and security of user funds during the regulatory rev...

On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses the details of the SEC’s lawsuit against crypto exchange Binance and its CEO, Changpeng Zhao. In the latest episode of The Market Report, analyst and writer Marcel Pechman discusses the impact of the United States Securities and Exchange Commission lawsuit against the Binance exchange. Most likely, the U.S. population will be barred from using the international version of Binance, and those who opt for VPN services will be at risk of being prosecuted. Pechman believes Changpeng “CZ” Zhao and Binance will lose or strike a deal pleading guilty, pay a fine, and be forced to halt services for North American entities — including Paxos and the Binance USD (BUSD) stablecoin. Considering Binance is the absolute leader in spot and derivatives trading, one might call the 5% price correction on April 5 a “vote of confidence,” meaning traders believe Binance international will remain fully operational. Worst-ca...

In twelve hours preceding the indictment, almost $1.5 billion of crypto left several centralized platforms, according to Thanefield Capital. Right before the exchange platform Binance and its CEO Changpeng Zhao have been accused of regulatory violations by the United States Commodity Futures Trading Commission (CFTC), almost a billion dollars in crypto reportedly left the platform’s wallets.  According to the Thanefield Capital data research, a few hours before the Binance CFTC indictment , which occurred at 3 pm UTC on Monday, March 27, an unusually large amount was withdrawn across centralized exchanges. In 12 hours preceding the indictment , almost $1.5 billion left such platforms as Binance, Kraken, Coinbase and Bitfinex. More than half of it, or $850 million, was withdrawn from Binance. Just one hour after the announcement, Binance saw an additional $240 million withdrawn. According to the data from Nansen, in the past 24 hours, more than $400 million were withdrawn only in Ether...