Business
The DOJ charged the world’s largest cryptocurrency exchange with operating as an unlicensed money laundering business and violating securities law. Richard Teng will replace Zhao as CEO.
Bitcoin
“Financial advisors have been like horses in the starting gate of a race,” says Ric Edelman, founder of the Digital Assets Council of Financial Professionals.
The head of research at 3iQ, Mark Connors, said that bitcoin has asymmetric returns – a feature that investors widely covet.
The flow of funds indicates that $22.4 million worth of crypto stolen from liquidity provider Kronos Research originated from Binance.
Bittrex Global announced that it will halt all trading and cease operations by Dec. 4 after a series of hurdles with US regulators.
Regulation
The filing is the latest against a major exchange as the SEC ratchets up its efforts to regulate the industry.
But Binance founder Changpeng Zhao could still face criminal charges.
Crypto exchange Bullish, led by former NYSE President Tom Farley, acquired CoinDesk, a major player in crypto-focused media, events, and indexing.
In collaboration with the DOJ, Tether and OKX enforced the largest-ever stablecoin freeze, targeting $225 million in USDT linked to a Southeast Asian human trafficking syndicate.
The price of WLD gained 20% in the last day following calls to reinstate Sam Altman as CEO of OpenAI.
