U.S. Treatment of CZ, Binance Is ‘Absurd:’ Arthur Hayes
The former BitMEX CEO said the record-breaking penalties against Binance represent an institutional bias against the transformative impact of cryptocurrency and blockchain technology.
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Changpeng “CZ” Zhao
The former BitMEX CEO said the record-breaking penalties against Binance represent an institutional bias against the transformative impact of cryptocurrency and blockchain technology.
A district judge ordered Changpeng “CZ” Zhao to stay in the U.S. until he could make a proper ruling on a U.S. Department of Justice motion to block him from returning to his home in the UAE.
Binance founder and former CEO Changpeng Zhao should be allowed to return to the UAE, where he is a citizen and lives, ahead of his February sentencing, his lawyers said, pushing back against a U.S. Department of Justice filing asking he not be allowed to leave the country.
Binance CEO Changpeng Zhao leaves the U.S. District Court in Seattle, Washington. (David Ryder/Getty Images)
Binance is paying one of the largest fines in corporate history to the U.S. Department of Justice, while its founder and CEO, Changpeng “CZ” Zhao, stepped down from his role running the platform as part of a settlement with multiple federal agencies. Meanwhile, Kraken is facing a lawsuit from the U.S. Securities and Exchange Commission that echoes the SEC’s previous wave of suits.
Binance’s ex-CEO Changpeng Zhao (Getty Images)
Binance, Binance.US and Changpeng Zhao filed to dismiss a Securities and Exchange Commission (SEC) lawsuit Thursday, claiming the regulator hadn’t “plausibly alleged” various securities-related violations.
Changpeng Zhao ,CEO of Binance, at Consensus Singapore 2018 (CoinDesk)
Binance has stopped offering certain benefits to its employees on June 19 as the company’s profits continue to decline, according to former employees and internal company messages viewed by the Wall Street Journal.