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☆ Bitcoin halving is likely this week — here's what you need to know
▼ + stars: | 2024-04-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +27 min

And that's, that's the whole idea of it. Tom ChittySo if I go and buy bitcoin, the bitcoin I buy is fresh bitcoin that's been mined, not someone who's selling bitcoin is that right? Arjun KharpalThe likelihood is if you buy bitcoin, if we go on an exchange and buy bitcoin, we're selling bitcoin that's in existence already. And so what they say is, well, with the halving, you know, bitcoin will not be devalued. That's that's really what so many of the enthusiasts and proponents love about it.

Persons: Bitcoin, Tom Chitty, Arjun, we'll, Ethereum, Arjun Kharpal Paris, Kharpal, we've, Arjun Kharpal, Tom Chitty 13,777B, that's, what's, they're, bitcoin, there's, That's, It's, you've, Richard Tang, Richard Teng, I'm, he's, Arjun Kharpal That's, Tom, it's, Tom Chitty That's, I've, Arjun Kharpal It's, they've, Binance, Arjun Kharpal Binance, Changpeng Zhao, cryptocurrency, Jan van Eck, Jean, Marie Mognetti, van Eck, Jan Van Eck, Cathy, Gary Gensler, let's, Tom Chitty Let's, Tom Chitty Oh, There's, Tom Chitty Memecoins, Arjun Kharpal They're, we'd, David Hunt, David, Tom Chitty Poor David, Paris, Tom Chitty We'll Organizations: CNBC, Eurostar, U.S ., Paris, Department of Justice, U.S, CZ, DOJ, SEC, Mr, Gamestop Locations: beyondthevalley@cnbc.com, Paris, CNBC.com, bitcoin, U.S, Abu Dhabi, Binance, Chicago, Pennsylvania, Elmira , New York, NYC , New York City, Syracuse, Elmira, it's

☆ This crypto cycle is different from past ones, Binance CEO says
▼ + stars: | 2024-04-10 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis crypto cycle is different from past ones, Binance CEO saysBinance CEO Richard Teng discusses crypto and its potential as an asset class.

Persons: Richard Teng

☆ Binance has matured past cultural issues, CEO says, after $4.3 billion U.S. DOJ settlement
▼ + stars: | 2024-04-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Binance CEO Richard Teng at the Paris Blockchain Week summit in Paris, France, on Tuesday, April 9, 2024. Binance's new CEO Richard Teng said the company has moved past cultural issues after the company was hit with a $4.3 billion fine to settle charges from the U.S. Justice Department. "But we have moved past that, as the company moved into regulatory maturity, [and] we are moving toward sustainability." In November, Binance agreed to pay a $4.3 billion settlement to the U.S. government, including a forfeiture of $2.5 billion and a fine of $1.8 billion. Former Binance CEO Changpeng Zhao was charged with violating the Bank Secrecy Act and agreed to step down.

Persons: Richard Teng, Binance, Teng, CNBC's Arjun Kharpal, Changpeng Zhao, Zhao Organizations: Paris, U.S . Justice Department, DOJ, ., U.S, BSA, Justice Department Locations: Paris, France, Binance, U.S

☆ Binance CEO on the outlook for crypto markets
▼ + stars: | 2024-04-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance CEO on the outlook for crypto marketsRichard Teng, CEO of Binance, discusses his outlook for the cryptocurrency market.

Persons: Richard Teng

☆ Binance CEO says company has moved past cultural issues
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance CEO says company has moved past cultural issuesBinance's new CEO Richard Teng said the crypto exchange has moved past cultural issues after the company was hit with a $4.3 billion Justice Department settlement.

Persons: Richard Teng Organizations: Department

☆ Bitcoin is poised to climb above $80,000 as investors pile into ETFs, Binance CEO says
▼ + stars: | 2024-03-18 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Bitcoin is set to top $80,000 on strong ETF inflows, Binance CEO Richard Teng said. After hitting a record high of $73,679 early last week, bitcoin tumbled back below $70,000. The boss of the world's biggest crypto exchange, Richard Teng, said he now sees the crypto poised to jump past $80,000 after initially predicting it would end the year around that level. Related storiesHe acknowledged that volatility would still shake the world's biggest crypto and that the uptrend won't be a "straight line." AdvertisementBitcoin soared to its record high of $73,679 last week.

Persons: Richard Teng, bitcoin, —, We're, Teng, Kris Marszalek Organizations: Service, Bloomberg, CNBC Locations: Bangkok

[1/3] Richard Teng, head of the Middle East and North Africa for crypto firm Binance gestures as he speaks during an interview with Reuters in Dubai, United Arab Emirates, March 30, 2022. Teng faces an especially tough task in transforming the culture of Binance, four of the people said. Still, leading a cultural shift at Binance - a firm shaped by Zhao in his own image - would be "hugely difficult," she said. For years it dominated the crypto market, but this year has rapidly lost market share. Last month it controlled 32% of crypto spot and 50% of derivatives trading, according to crypto firm CCData, down from 55% and 62% respectively in January.

Persons: Richard Teng, Abdel Hadi Ramahi, Teng, Changpeng Zhao, Janet Yellen, Binance, Carol Alexander, Zhao, Yi He, Binance's, Simon Matthews, Richard, Matthews, FinCEN, John Reed Stark, Rajeev Bamra, OKX, Joseph Edwards, Tom Wilson, Elizabeth Howcroft, Elisa Martinuzzi, Louise Heavens Organizations: Reuters, United Arab Emirates, REUTERS, U.S . Securities, Exchange Commission, SEC, U.S, Treasury, University of Sussex, Investors, Treasury's, Internet Enforcement, Singapore, Abu, Abu Dhabi Global, Singapore Exchange, Moody's Investors Service, Securities, Thomson Locations: East, North Africa, Dubai, United Arab, U.S, Abu Dhabi, France, Seychelles, London

Zhao has been replaced by Richard Teng, a senior Binance executive who joined in 2021, the company said. "Binance has seen significant exchange outflows since the announcement, but relative to their total holdings, it's quite small," Nansen analysts said. By comparison, investors pulled around $1.43 billion from the crypto exchange and its U.S. affiliate in June after the U.S. Securities and Exchange Commission sued the companies. Lawyers for Zhao, who founded Binance in 2017, did not respond to requests for comment on Wednesday. Zhao paid a $175 million bail bond, with another $15 million held in a trust account, a court filing showed.

Persons: Dado Ruvic, Changpeng Zhao, Binance, Zhao, Richard Teng, Nansen, ransomware, Arthur Hayes, Hayes, Sam Bankman, Fried, Daniel Silva, Buchalter, Luc Cohen, Michelle Price, Richard Chang Organizations: REUTERS, Nansen, U.S, U.S . Securities, Exchange Commission, Islamic, Binance, Prosecutors, Justice, Reuters, Thomson Locations: al Qaeda, Islamic State, Iraq, Syria, Dubai, Seattle, United States

☆ Binance sees $956 mln in outflows after Zhao steps down to settle U.S. probe
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. Zhao has been replaced by Richard Teng, a senior Binance executive who joined in 2021, the company said. "Binance has seen significant exchange outflows since the announcement, but relative to their total holdings, it’s quite small," Nansen analysts said. Investors pulled around $1.43 billion from the crypto exchange and its U.S. affiliate in June after the U.S. Securities and Exchange Commission sued the companies. While authorities have probed Zhao and Binance for years, Zhao's exit marks a dramatic development for one of the most powerful figures in the crypto industry.

Persons: Dado Ruvic, Nansen, Changpeng Zhao, Zhao, Richard Teng, Binance, Zhao's, Lisa Pauline Mattackal, Jonathan Stempel, Chris Prentice, Michelle Price, Anil D'Silva Organizations: REUTERS, Investors, U.S, U.S . Securities, Exchange Commission, Justice Department, Thomson Locations: Nansen, Dubai, Seattle, United States, Bengaluru, New York

☆ CNBC Daily Open: Nvidia’s astounding earnings might not move markets
▼ + stars: | 2023-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia's revenue tripledNvidia's fiscal third-quarter revenue grew 206% year on year to $18.12 billion, handily beating expectations, and net income rocketed from $680 million to $9.24 billion. Moreover, Nvidia expects revenue for the current quarter to increase to $20 billion, an implied 231% growth. Fed officials also project economic growth in the fourth quarter to "slow markedly" from last quarter's 4.9% increase in gross domestic product.

Persons: Colette Kress, Binance's CZ, Changpeng Zhao, Richard Teng, Zhao Organizations: CNBC, Nvidia, Federal, Auto, European Union, European Automobile Manufacturers ' Association, Binance's, U.S . Department of Justice, Bank of America Locations: China

☆ CNBC Daily Open: Nvidia tripled its revenue. Investors weren’t impressed
▼ + stars: | 2023-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia's revenue tripledNvidia's fiscal third-quarter revenue grew 206% year on year to $18.12 billion, handily beating expectations, and net income rocketed from $680 million to $9.24 billion. Moreover, Nvidia expects revenue for the current quarter to increase to $20 billion, an implied 231% growth. Richard Teng, the company's former global head of regional markets, will be Binance's new CEO, said Zhao in a post on X, formerly Twitter.

Persons: Colette Kress, CZ, Changpeng Zhao, Richard Teng, Zhao Organizations: CNBC, Nvidia, Federal, Japan's Nikkei, China's, U.S . Department of Justice, Hamas, U.S, Bank of America Locations: China, Asia, Pacific, China's Shanghai, U.S, Israel, Europe

☆ Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department
▼ + stars: | 2023-11-22 | by ( Kai Xiang Teo | Matthew Loh | ) www.businessinsider.com time to read: +4 min

The treasury department says the company enabled transactions from Hamas, the Islamic State, and Al Qaeda. The treasury department said Binance failed to report over 100,000 suspicious transactions involving terrorist groups, ransomware, child sexual exploitation material, and scams. Lim had been told about "HAMAS transactions," and responded by saying that terrorists often send "small sums" of money because "large sums constitute money laundering," the CFTC complaint said. Advertisement"I HAZ NO CONFIDENCE IN OUR GEOFENCING," Lim was told by a Binance employee, who was tasked with reporting money laundering, the complaint said. The justice department opened an investigation into Binance's compliance with anti money laundering law in 2018.

Persons: Binance, —, Samuel Lim, Lim, Zhao, Merrick Garland, Richard Teng —, Binanace, Yesha Yadav Organizations: Service, Zhao, Brigades, Hamas, Islamic, Futures Trading, AK, New York Times, Vanderbilt University, Reuters, Futures Trading Commission, Securities and Exchange Commission Locations: Islamic State, Al Qaeda, Iraq, Syria

The plea deals end a years-long investigation into the crypto exchange. Binance holds around $2.8 billion worth of BNB tokens, according to Nansen. Binance remains the world's largest crypto exchange globally, processing billions of dollars in trading volume every year. "This, combined with the likely imminent approval of an ETF based on bitcoin quotes, could positively impact the crypto market in the long term," said Drozdz. Binance has agreed to forfeit $2.5 billion to the government and to pay a fine of $1.8 billion.

Persons: Binance's, Changpeng Zhao, Ben Mcshane, Sportsfile, Nansen, Binance, Grzegorz Drozdz, Bitcoin, Drozdz, Zhao, Yesha Yadav, Milton R, Underwood, General Merrick Garland, Garland, Richard Teng, Teng, Janet Yellen, Al, Yellen Organizations: Getty, Department of Justice, ., SEC, Conotoxia, CNBC, DOJ, Vanderbilt University, Justice Department, U.S, Monetary Authority of Singapore, Binance, Futures Trading Commission, Treasury Department, The Securities, Exchange Commission, ISIS Locations: Lisbon, Portugal, Binance, Nansen, U.S, Abu Dhabi

Binance founder and CEO Changpeng Zhao pleads guilty to felony charges Tuesday related to his failure to prevent money laundering on the crypto exchange platform. Former Binance CEO Changpeng Zhao on Tuesday named a new CEO of the cryptocurrency exchange he founded, after pleading guilty to federal money laundering charges and stepping down as the company's chief. Zhao named Richard Teng, a former CEO of Abu Dhabi Global Market, the UAE capital's financial services regulator, as Binance's new CEO. "He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth," Zhao added. Zhao appeared before Judge Brian Tsuchida for a hearing in a Seattle courtroom at 10:00 a.m. Pacific Time (1:00 p.m.

Persons: Changpeng Zhao, Zhao, Richard Teng, Teng, Binance, Sam Bankman, Fried, CNBC they'd, Brian Tsuchida Organizations: Abu, Abu Dhabi Global Market, Monetary Authority of, U.S, Bank, Emergency Economic, DOJ, CNBC, U.S . Department of Justice Locations: Abu Dhabi, UAE, Binance, Monetary Authority of Singapore, Seattle

☆ Binance's Zhao says Richard Teng to become next CEO
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: 1 min

Boards category · November 21, 2023Following a surprise ouster, OpenAI co-founder and former CEO Sam Altman joined Microsoft as the head of artificial intelligence research along with the ChatGPT maker's former President Greg Brockman and other staff.

Persons: OpenAI, Sam Altman, Greg Brockman Organizations: Microsoft

Zhao Changpeng, founder and chief executive officer of Binance greets the audience during an event in Athens, Greece, November 25, 2022. "Today, I stepped down as CEO of Binance," Zhao tweeted. Binance became the world's biggest crypto exchange within six months. As Binance hired more widely from traditional financial and regulatory worlds, Zhao's tight control over his company was undiminished. Richard Teng, a senior Binance executive who joined in 2021, is the new CEO, Zhao posted on social media on Tuesday.

Persons: Zhao Changpeng, Binance, Costas Baltas, Changpeng Zhao, Zhao, Prosecutors, Tuesday's, General Merrick Garland, Yi, Richard Teng, Teng, Tom Wilson, Lisa Shumaker, Bill Berkrot Organizations: REUTERS, Justice Department, Binance, New York Times, U.S, Reuters, Futures Trading Commission, Thomson Locations: Athens, Greece, Binance, Binance ., Shanghai, China, Canada, Tokyo, New York, London

The exchange offers spot and derivatives trading and a host of services from non-fungible tokens (NFTs) to crypto loans and asset management. FINANCESBinance's global trading platform, Binance.com, is by far the world's biggest cryptocurrency exchange. Last year it processed crypto trades worth about $65 billion a day, Binance said, dominating the crypto trading landscape with more than half of the market, CryptoCompare data shows. Binance last year extended its reach beyond the crypto sector in 2022, investing $500 million in Tesla boss Elon Musk's takeover of Twitter. A top Binance executive told the Wall Street Journal in February that the company expected to pay penalties to resolve U.S. investigations.

Persons: Changpeng Zhao, Binance, Zhao, Yi He, Yi, Noah Perlman, Morgan Stanley, Richard Teng, Teng, Elon Musk's, Cristiano Ronaldo, Tom Wilson, Hannah Lang, Marguerita Choy, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, SEC, U.S . Commodity Futures Trading Commission, Binance, Reuters, Twitter, Lazio, Argentina national, of Nations, U.S, Justice, Wall Street, Thomson Locations: WASHINGTON, U.S, Shanghai, Tokyo, Malta, Cayman Islands, Canadian, China, United States, Italian, London, Washington

☆ Binance charges are a last gasp for crypto
▼ + stars: | 2023-06-05 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

NEW YORK, June 5 (Reuters Breakingviews) - Binance founder Changpeng Zhao doesn’t have much to look forward to. The SEC alleges that Binance knowingly helped U.S. customers trade illegally on its exchange. Binance, in a blog post, trotted out a familiar crypto defense: The SEC, which has been vague on how cryptocurrency should be regulated, is beyond its reach. In March, the U.S. Commodity Futures Trading Commission filed similar charges against the company. Follow @AnitaRamaswamy on TwitterCONTEXT NEWSThe U.S. Securities and Exchange Commission is suing Binance, the world’s largest cryptocurrency exchange by volume.

Persons: Changpeng Zhao doesn’t, Zhao, –, Sam Bankman, Fried, Binance, Gary Gensler, FTX, Changpeng Zhao, Richard Teng, Coindesk, Teng, Zhao “, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, U.S . Securities, Exchange Commission, SEC, U.S . Commodity Futures Trading Commission, U.S . Federal Trade Commission, U.S . Commodities Futures, Commission, Thomson Locations: United States, U.S

☆ Binance names Teng as head of regional markets outside US
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

May 29 (Reuters) - Binance has appointed Richard Teng to head its regional markets outside the United States, at a time when the world's largest cryptocurrency exchange has been facing scrutiny from U.S. regulators over compliance issues. Teng, who revealed his promotion on his LinkedIn profile, is already heading regions like Asia, Europe and the Middle East. He joined Binance as CEO of Singapore in August 2021. Before joining Binance, Teng held positions in various financial institutions such as Singapore Exchange Ltd, Monetary Authority of Singapore and Abu Dhabi Global Market. Reporting by Priyamvada C in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto exchange Binance registers in Sweden
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

STOCKHOLM, Jan 12 (Reuters) - Sweden's financial watchdog said on Thursday it had registered crypto exchange Binance this week as a financial institute in the country. Binance accounts for over half the global crypto trading market. The core of the company's business, the giant Binance.com exchange, last year processed trades worth over $22 trillion. A Reuters analysis in December of Binance's corporate filings in 14 jurisdictions showed that the Binance.com exchange remains mostly hidden from public view. Binance said in a statement shared on Thursday by its CEO on Twitter that with the latest registration, Swedish residents can legally access services including crypto trading and withdrawing and depositing euros on the exchange.

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