What is Binance – pressnews

[ad_1] The world's largest cryptocurrency exchange by trade volume, Binance, came under regulatory scrutiny earlier this year when the US Department of Justice (DOJ), along with the Commodity Futures Trading Commission (CFTC) cracked down on the company's lack of regulatory and legal mechanisms to prevent transactions made to fund terrorism, drug deals, and other illegal activities, as per the agencies. On Tuesday, the CEO of the company, Changpeng Zhao, pleaded guilty and agreed on a settlement worth 4.3 billion dollars.But if you are unfamiliar with the world of crypto and want to know what is Binance, the reasons for it to plead guilty, and how this decision may impact the crypto industry in the future, then here is a quick guide. Let us take a look. What is Binance?Binance, a crypto...

[ad_1] The saga between two of its top players, Binance and FTX, has upended the crypto ecosystem. It's been a tumultuous few days in the largely unregulated cryptocurrency world, with mudslinging on Twitter, a shock exchange takeover bid and plunging token values. The world's biggest exchange, Binance Holdings Ltd., is now set to acquire troubled rival FTX.com in what would be a radical consolidation of power in the crypto world. The letter of intent is non-binding though, which sent jitters through the market and sparked a further plunge in values. While crypto might seem like a niche corner of finance, the saga between two of its top players has upended the crypto ecosystem and is likely to have far-reaching repercussions. What are Binance and FTX? They're two of the biggest...

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What is Binance, why did the world’s largest cryptocurrency exchange plead guilty?

Explainer: How Binance and FTX Sent Shockwaves Through the Crypto World