This story was originally featured on Fortune. The SEC also accused Binance and Zhao of commingling customer assets and of running Binance.US behind the scenes, despite the company’s constant claims that Binance.US is an independent company. The agency leveled 13 charges against Binance and its associated entities accusing it of, among other things, allowing some U.S.-based customers to illegally access the main Binance platform. securities laws and misleading investors. What Happened: Shroder, has vacated his position as the company. The Securities and Exchange Commission in June sued both Binance and Binance.US over allegedly violating U.S. Binance.US CEO Brian Shroder has resigned, and the company has laid off a third of its staff amidst mounting regulatory pressure. In the years since its launch, the company raised more than $200 million in a funding round that valued it at $4.5 billion, but it has also struggled with criticism, and legal action, from regulators, based in part on its tightly knit relationship with Changpeng Zhao’s Binance. customers with a more limited set of crypto-investing options than those available via Binance's global platform. Binance.US general counsel and chief legal officer Norman Reed has been appointed as interim CEO.Ī spokesperson for Binance.US declined to comment.įounded in 2019, the U.S.-based exchange was meant to serve U.S. Brian Brooks is stepping down as chief executive officer of crypto exchange Binance US after just three months in the role. The departures come after Binance.US also laid off 100 employees, about a third of its workforce, earlier this week. Following the most recent market deal, the country currently owns 800 Bitcoins, valued at around $45 million.The same week Binance.US announced that CEO Brian Shroder is stepping down, the Wall Street Journal reports that the firm's head of legal, Krishna Juvvadi, and chief risk officer Sidney Majalya are also set to leave the exchange. If El Salvador were a private trader, even with a 15% retrace from the peak, his portfolio would have been up by $2.1 million. Previously, El Salvador bought 150 new coins when Bitcoin’s price dropped in September. Since then, the position's value has climbed by $389,000. 26, El Salvador's president Nayib Bukele stated that the country purchased an additional 100 BTC. Here’s how much El Salvador makes by trading BitcoinĮl Salvador, the country known for its progressive decision to adopt Bitcoin as legal tender, is currently following a “buy the dip” strategy. However, he warns that if an interest rate rises, people should stay away from crypto. Both cryptos, according to Özdil’s observations, have formed the bull flag pattern, which often indicates a price increase following a long period of consolidation. In his tweet, Zihni Özdil, Dutch millionaire and former member of the country's left-wing green party, says that he feels bullish on two rival meme-tokens: Shiba Inu and Dogecoin. Dutch millionaire is bullish on Shiba Inu and Dogecoin The second wallet, which initially transacted 40 million coins to the wallet that sold it on Binance, is currently holding 156 million XRP coins. Exchange between undisclosed whales is anonymous and has not been known to the public. Yesterday, an anonymous wallet moved 40 million XRP to a wallet owned by Binance, which represents approximately 25% of the current daily trading volume on the exchange. 40 million XRP moved to Binance and sold immediately Shiba Inu is already available on Coinbase and Gemini, with South Korean crypto exchange Korbit joining the list earlier this month.
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