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Tag: Binance

US seeks three-year jail term for ex-Binance CEO
News

US seeks three-year jail term for ex-Binance CEO

The U.S. prosecutors are seeking a three-year prison sentence for Changpeng Zhao, the founder and former CEO of Binance, the world’s largest cryptocurrency exchange. This comes after Zhao pleaded guilty to violating laws against money laundering. Prosecutors argue that a longer sentence than the recommended 18 months would reflect the seriousness of his violations and […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
News

Binance working with Nigeria govt to resolve exec’s detention, CEO says

The CEO of cryptocurrency exchange Binance addressed the detention of its head of financial crime compliance by Nigerian authorities, stating that the company is actively collaborating with them to address the matter. Tigran Gambaryan, the executive in question, along with another Binance official, are facing allegations of laundering over $35 million, with the court adjourning […]

US drops lawsuit against Binance
Crypto

Abuja court denies Binance executive bail

A Federal High Court in Abuja has further postponed the bail application of the Binance executive, Tigran Gambaryan even as he remains in custody at the Kuje correctional centre. Following the counsel of the Economic and Financial Crimes Commission, Iheanacho, Justice Emeka Nwite was persuaded to adjourn proceedings to give Iheanacho more time to deal […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance to re-enter India after paying fine $2m

Alex Omenye The world’s largest cryptocurrency exchange, Binance, is poised to re-enter the Indian market after agreeing to pay a $2 million fine and registering as a Financial Intelligence Unit firm, as per a recent report. Following a crackdown by India’s Financial Intelligence Unit, Binance and nine other crypto exchanges were removed from the Apple […]

FG moves to restrict Binance, other crypto platforms
Business

Binance shifts billion-dollar emergency fund to USDC

Binance has undergone a shift by converting its entire pool of assets held in the Secure Asset Fund for Users into USDC, the stablecoin issued by US firm Circle Internet Financial. In the past, Binance has held TUSD, BNB, Bitcoin, and Tethers USDT funds in its wallet, according to Bloomberg. SAFU was set up in […]

Nigeria moves to extradite escaped Binance exec Nadeem Anjarwalla
News

Nigeria moves to extradite escaped Binance exec Nadeem Anjarwalla

Nigerian authorities have formally requested Kenya’s assistance in apprehending and extraditing Nadeem Anjarwalla, a Binance executive who managed to escape detention on March 25th after being charged with tax evasion, as reported by the Daily Post. A detective from the Directorate of Criminal Investigations, speaking on condition of anonymity due to the sensitivity of the […]

Binance halts support for USDC stablecoin on Tron blockchain
News

Binance executive pleads not guilty to money laundering charges

An Executive of Binance Holdings Limited, Tigran Gambaryan, has pleaded not guilty to the money laundering charges preferred against him by the Economic and Financial Crimes Commission. The Economic and Financial Crimes Commission on Monday charged Gambaryan before Justice Emeka Nwite at the Federal High Court in Abuja, according to The punch. Recall, that the […]

Binance executive Tigran Gambaryan arraigned by EFCC
News

Binance executive Tigran Gambaryan arraigned by EFCC

Binance Holdings Limited’s official, Tigran Gambaryan, faces allegations of tax evasion and is currently undergoing legal proceedings. Alongside Nadeem Anjarwalla, who is on the run, Gambaryan has appeared in the Federal High Court in Abuja today. The case, identified as FHC/ABJ/CR/115/2024, accuses Binance of neglecting to register with the Federal Inland Revenue Service to fulfill […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
News

Binance reacts to escape of executive from custody

Binance, a leading global cryptocurrency exchange platform, announced on Monday its collaboration with Nigerian authorities to ensure the safety of its employees and address ongoing issues with the government. This comes after reports surfaced that Nadeem Anjarwalla, one of the detained Binance executives in Nigeria, escaped from custody. Sources revealed that Mr. Anjarwalla, 38, escaped […]

Binance halts support for USDC stablecoin on Tron blockchain
News

Binance halts support for USDC stablecoin on Tron blockchain

Binance announced on Monday its decision to discontinue support for deposits and withdrawals through the Tron blockchain network for a digital stablecoin pegged to the U.S. dollar. This move follows Boston-based crypto firm Circle’s recent decision to cease minting USDC tokens on Tron, a platform commonly utilized for stablecoin transfers. Stablecoins are digital assets engineered […]

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Detained Binance executive escapes from custody – Report

One of the Binance executives, Nadeem Anjarwalla detained in Nigeria over alleged tax evasion and other offenses, has reportedly escaped from lawful custody. According to Premium Times, Mr. Anjarwalla, 38, fled on Friday, March 22, from the Abuja guest house where he and his colleague were detained. Guards on duty allegedly escorted him to a […]

US drops lawsuit against Binance
featured News

Two Binance execs remanded in prison after court appearance

Two Binance executives, representing the world’s largest cryptocurrency exchange, will remain in custody for at least another two weeks in Nigeria. Despite appearing in court for the first time on Wednesday and not facing any charges, their families disclosed. A U.S. citizen, Tigran Gambaryan serving as Binance’s head of financial crime compliance, and Nadeem Anjarwalla, […]

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