Binance CEO departs after guilty plea over money laundering as US authorities belt the crypto exchange with a $6.6bn fine

- November 22, 2023 3 MIN READ

Binance CEO Changpeng “CZ” Zhao has resigned from the cryptocurrency exchange he founder as past part of a guilty plea deal with US authorities over money laundering and US sanctions violations, that involved funded terrorist groups such as Hamas. Zhao was hit with a US$50 million fine while his company will pay US$4.3 billion (A$6.6bn)… Read more »

FTX Sam Bankman-Fried

Sam Bankman-Fried’s fraud trial hears how a simple tweak to the data allowed him to syphon off $12 billion from investors

- October 11, 2023 3 MIN READ

A simple database flag enabled cryptocurrency magnate Sam Bankman-Fried (SBF) to siphon billions of customer dollars into a lavish lifestyle that ultimately left failed exchange FTX over $12 billion ($US8 billion) in debt, a US court has heard as SBF’s trial nears its conclusion. Once the second largest cryptocurrency exchange with a valuation of $47 billion, the… Read more »