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(Reuters) -Binance and the U.S. Securities and Exchange Commission have asked a federal judge to stay the regulator's lawsuit against the crypto exchange, according to a court filing, citing the ...
Binance and the SEC filed a joint motion Monday asking for a 60-day stay in a lawsuit the regulator filed with significant fanfare two years ago under its previous chairman, Gary Gensler.
“Binance grew at an extremely fast pace globally… [and] made misguided decisions along the way. Today, Binance takes responsibility for this past chapter.”
In April 2019, Binance launched Binance Smart Chain, which has smart contract functionality and is an Ethereum competitor. In February 2018, Forbes placed him third on their list of "The Richest People In Cryptocurrency," with an estimated net worth of $1.1-2 billion. [14] [16] In 2019, Zhao launched Binance's U.S. affiliate, Binance.US. [17]
[32] [31] The sale of Binance's holdings in FTT, compounded with the low trading volume of FTT and the enmity between Zhao and Bankman-Fried, resulted in the price of the token plummeting. [33] [34] [35] Binance had received FTT from FTX in 2021 during a transaction in which FTX bought back Binance's equity stake in FTX. [36]
Binance Holdings Ltd., branded Binance, is a global [8] company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao , a developer who had previously created high-frequency trading software.
Earlier this year, for instance, I spoke with Binance exec and former IRS agent Tigran Gambaryan, who told me a credible story about the company helping to take down an ISIS cell in Asia.
Alameda Research was a cryptocurrency trading firm, co-founded in September 2017 by Sam Bankman-Fried and Tara MacAulay. [2] [3] In November 2022, FTX, Alameda's sister cryptocurrency exchange, experienced a solvency crisis, and both FTX and Alameda filed for Chapter 11 bankruptcy. [4]