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They're seeking $38 million paid to PACs and political nonprofits ahead of the 2022 elections. The lawsuits are seeking some $5 million from four groups affiliated with Democrats and $1.8 million from FWD.us, a bipartisan nonprofit founded by Mark Zuckerberg. A Republican super PAC also led by Law, the Senate Leadership Fund, received $3.5 million in FTX funds in August and October 2022 that a separate lawsuit argues must be returned. "We're reviewing the complaint and will take appropriate action," a Senate Leadership Fund spokesperson, Torunn Sinclair, said. AdvertisementThe lawsuits say the donations were intended to burnish the image of FTX and Bankman-Fried in political circles.
Persons: Sam Bankman, Ryan Salame, , Mark Zuckerberg, Steven Law, Torunn Sinclair, Fried, Anthony Scaramucci, Binance, Crypto.com, It's, FTX, Doug Kelley, Sinclair, Todd Schulte, FWD.us, Salame Organizations: FTX, Republican, PAC, Law, Fund, White House, SkyBridge Locations: FWD.us, FTX, Salame
The BlackRock logo is pictured outside the company's headquarters in the Manhattan borough of New York City on May 25, 2021. BlackRock has expanded its tokenized money market fund to include several more blockchains. The investment manager said Wednesday that its USD Institutional Digital Liquidity Fund (BUIDL) is now available to investors on the Aptos; Arbitrum; Avalanche; OP Mainnet, formerly known as Optimism; and Polygon blockchains. The BUIDL fund, which BlackRock debuted two months after iShares Bitcoin Trust, its popular bitcoin exchange-traded fund, gives investors an opportunity to earn U.S. dollar yields through a blockchain-based vehicle. The BUIDL fund is tokenized by Securitize, a company BlackRock has invested in that specializes in the tokenization of real-world assets.
Persons: iShares, Robert Mitchnick, Donald Trump's, Trump, Biden, Coinbase Organizations: Institutional, Avalanche, Ethereum, BlackRock, U.S, Metrics, U.S . Securities, Exchange Commission, SEC, Binance Locations: BlackRock, Manhattan, New York City, cryptocurrencies
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Separately, the estate of crypto exchange FTX sued Binance and its former CEO, Changpeng Zhao, over a "fraudulent" share deal. Some think the rally is getting ahead of itself, writes CNBC Pro's Fred Imbert. A Wall Street analyst pointed out that, according to history, one ostensibly bullish sign actually portends retreats in the near term.
Persons: FTX, Binance, Changpeng Zhao, Donald Trump, Jeremy Siegel, Siegel, Fred Imbert Organizations: CNBC, Dow Jones, NatWest, Metrics, Trust, Wharton School, University of Pennsylvania, Trump, U.S
The estate of collapsed crypto exchange FTX has filed a suit against Binance and its former CEO Changpeng Zhao in an effort to wrest back at least $1.76 billion, citing a "fraudulent" share deal. The FTX estate alleges that the share repurchase was funded by FTX's Alameda Research division through a combination of the company's and Binance's exchange tokens, as well as Binance's dollar-pegged stablecoin. Binance denies the allegations, saying in an emailed statement: "The claims are meritless, and we will vigorously defend ourselves." That same month, Binance's Zhao pleaded guilty to charges of violating the Bank Secrecy Act for failing to put in motion an effective anti-money laundering program and for breaching U.S. economic sanctions. In another post cited, he said: "As part of Binance's exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT).
Persons: FTX, Changpeng Zhao, Zhao, Sam Bankman, Binance, Fried, Binance's Zhao, LUNA Organizations: Binance, Shires, FTX's Alameda Research Locations: Delaware, FTX, Alameda
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance CEO says he hopes for regulatory clarity after Trump victoryBinance CEO Richard Teng discusses positive cryptocurrency movements after Donald Trump's election victory in the U.S. and the need for "regulatory clarity."
Persons: Richard Teng, Donald Trump's Organizations: Trump Locations: U.S
Bitcoin is on track to hit the $100,000 price milestone by the end of the year after President-elect Donald Trump's election victory, according to analysts. Bitcoin at $100,000 "doesn't sound so unreasonable" given it equates to "just 10% of gold's market share," Butterfill told CNBC in emailed comments. BTC to hit $100K by Trump's inauguration A $100,000 bitcoin price is likely to be reached by the time Trump is inaugurated president on Jan. 20, 2025, according to Fadi Aboualfa, head of research at crypto custodian Copper.co. Still, with bitcoin exchange-traded funds currently holding roughly 1.1 million bitcoins, momentum is likely to be positive in the coming months, Aboualfa added. It cuts in half the supply of bitcoin issued to miners who successfully produce new bitcoins.
Persons: Donald Trump's, James Butterfill, Butterfill, Trump, Kamala Harris, Gary Gensler, CoinShares, Kooner, Fadi Aboualfa, Aboualfa Organizations: Republicans, CNBC, Wednesday, U.S . Securities, Exchange Commission, SEC, Federal Reserve, BTC, Trump's Locations: America, bitcoin, U.S
Binance founder Changpeng Zhao left prison in September. He said he wasn't recognized at first, but inmates and guards soon sought crypto tips. He told Bloomberg in his first post-prison interview about how he spent his days. Changpeng Zhao, widely known as CZ, told Bloomberg in his first interview since being released in September. He said he told inquiring inmates and prison guards: "I don't have access to any information.
Persons: Changpeng Zhao, wasn't, , Zhao, Binance, That's, he's, Donald Trump's Organizations: Bloomberg, Service, ISIS, Giggle Academy, Zhao Locations: California —
Two crypto moguls' joint wealth rose by about $15 billion on the back of Trump's election victory. Binance's Chaopeng Zhao and Coinbase CEO Brian Armstrong added about $12 billion and $2.6 billion each. AdvertisementTwo cryptocurrency tycoons saw a near-$15 billion boost to their combined wealth on Wednesday as Donald Trump won the presidential election. One result was the world's 12 richest people grew more than $70 billion richer in a single day, per Bloomberg's wealth rankings. Exclude him and his 11 peers have grown a combined $505 billion richer this year — a figure that exceeds the market value of Oracle ($502 billion).
Persons: Binance's Chaopeng Zhao, Brian Armstrong, , Donald Trump, Changpeng Zhao, Zhao, Elon, Binance, Elon Musk, Anthony Harvey, Kamala Harris, Musk, Larry Ellison, Berkshire Hathaway's Warren Buffett, Jeff Bezos, Bernard Arnault Organizations: Service, Bloomberg, Trump, Ethereum, Republican, Democratic, Oracle Locations: Solana, Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We make mistakes but we have pivoted very strongly,' Binance CEO saysBinance CEO Richard Teng discusses Bitcoin, the arrest of Changpeng Zhao and the future of the company.
Persons: Richard Teng, Changpeng Zhao
Retail investing platform Robinhood on Tuesday announced that it's offering customers in Europe the ability to transfer cryptocurrencies in and out of its app, broadening its product capabilities in the region as it presses ahead with international expansion. In December last year, Robinhood launched its crypto trading service, Robinhood Crypto, in the EU for the first time. Once MiCA is fully in place, Kerbrat said, every EU country will fall under the same unified regime. "In terms of total addressable market, [the EU] is as big as the U.S.," he told CNBC, adding, "it's definitely an interesting market for us." Robinhood is rolling out new features in the EU at a time when U.S. crypto firms are sparring with regulators at home.
Persons: Robinhood, Robinhood Crypto, Johann Kerbrat, Kerbrat Organizations: European Union, CNBC, EU, Securities and Exchange Commission Locations: Europe, ethereum, solana, EU, Crypto, U.S, Robinhood
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance founder Changpeng Zhao set for release after four-month prison sentence: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Kristin Smith of Blockchain Association discusses the impact of the 2024 election on the crypto industry.
Persons: Changpeng Zhao, explainers, Kristin Smith Organizations: CNBC Crypto, CNBC, Blockchain Association
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance CEO says 2024 has been a 'landmark year' for crypto industryRichard Teng, CEO of the cryptocurrency exchange, says authorities across the globe are championing for clearer regulations in the crypto space.
Persons: Richard Teng
Binance CEO Richard Teng speaks in Singapore on Sept. 17, 2024, at an event hosted by the local foreign correspondents association. Cryptocurrency exchange Binance has seen a 40% increase this year in institutional and corporate investors joining the platform, CEO Richard Teng told CNBC's Lin Lin in an interview Wednesday. "So we on our own, we are seeing a huge uptick in terms of institutional and corporate investors. We have seen a 40% increase in onboarding in that category throughout the course of this year alone," he said. Changpeng Zhao, the billionaire co-founder and former CEO of Binance, stepped down last year as part of the settlement.
Persons: Richard Teng, Binance, CNBC's Lin Lin, Teng, Changpeng Zhao, Organizations: U.S Locations: Singapore, Changpeng
Crypto marketplace OpenSea has been added to the SEC's list of targets, as the regulator extends its crackdown on the sector. The company's CEO said in a post on X on Wednesday that the U.S. Securities and Exchange Commission issued a Wells notice against OpenSea. A Wells notice is typically one of the final steps before the SEC issues formal charges. The letter, according to the OpenSea chief, alleges that the nonfungible tokens, or NFTs, sold on its platform are securities. In May, investment platform Robinhood announced it received a Wells notice for the company's crypto operations.
Persons: Wells, Devin Finzer, OpenSea, Coinbase, Gary Gensler, Crypto, haven't, Donald Trump, Trump, Gensler Organizations: U.S . Securities, Exchange Commission, OpenSea, SEC, NFTs, CNBC, Ethereum Foundation, Robinhood, Republican Locations: California, U.S
In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in Paris, France, on March 5, 2024. Chesnot | Getty Images News | Getty ImagesThe population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report. There are now 172,300 individuals worldwide holding over $1 million in crypto assets, up from 88,200 last year, according to a report from New World Wealth and Henley & Partners. There are now 325 crypto centi-millionaires (those with $100 million or more in crypto holdings), and 28 crypto billionaires, according to the report. As other coins have increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley, up from $1.2 trillion last summer.
Persons: Robert Frank, bitcoin, Andrew Amoils, Zhao, Changpeng Zhao, Binance, Benoit Tessier Organizations: Chesnot, Getty, Wealth, Henley & Partners, Forbes, Viva Technology, Porte de Locations: Paris, France, Henley, U.S, Porte
The cryptocurrency market plummeted in value on Sunday, as investors continued selling out of risky assets. Led by a drop of 11% in bitcoin in the past 24 hours and a 21% plunge in ether, the overall value of cryptocurrencies sank by about $270 billion, according to CoinGecko data. The selloff in the crypto market coincided with a broader slide in equities in Asia-Pacific markets. The latest crypto wipeout will be felt by a broader base of investors after the SEC this year approved new spot exchange-traded funds for bitcoin and ether. WATCH: Bitcoin swings amid broad market selloff
Persons: Bitcoin, It's, Binance's, Morgan Stanley Organizations: Nikkei, Bank of Japan, Nasdaq, Nvidia, U.S . Federal, solana, SEC, CNBC, Wall Locations: bitcoin, Asia, Pacific, U.S, freefall, China, Taiwan, India, Australia
The Ledger Flex is a new, cheaper hardware crypto wallet from French startup Ledger. Ledger finally released Stax, its long-anticipated hardware crypto wallet, and is shipping units out to people who preordered the product in May. In addition to raising the price for Stax, Ledger is also releasing a new crypto hardware wallet. The Ledger Flex features an E Ink screen, similar to the Ledger Stax. The Ledger Flex, which costs $249, is smaller than the Ledger Stax and comes with a 2.8-inch display.
Persons: Stax, Ledger, Tony Fadell, Ledger Stax, Pascal Gauthier, Ledger's Stax, Ledger's Gauthier, Foxconn Organizations: Stax, Ledger, Flex, Google, CNBC, Apple Locations: Ledger, solana, London, Vietnam
Cryptocurrencies rose broadly, a day after bitcoin slumped to under $60,000 for the first time since early May, leading to a broad sell-off in crypto assets. Solana was the crypto market leader on Tuesday, however. The token tied to Chainlink, which provides data feeds on the Solana network, gained 7%. Ether gained 2% and coins linked to other Ethereum rivals rose broadly. Cardano's ADA jumped more than 6%, Polkadot advanced 5% and Binance Coin rose 3%.
Persons: bitcoin, Noelle Acheson, Solana, Ben Kurland Organizations: Metrics, Nvidia, Nasdaq, Solana Foundation, ADA, Polkadot Locations: Solana
This week, a judge signed off on Do Kwon and his bankrupt Terraform Labs settling with the U.S. Securities and Exchange Commission for $4.5 billion. This comes after a jury unanimously found Kwon and his company liable for securities fraud following less than two hours of deliberation. But investors piled in anyway, giving luna and UST a combined market value of almost $40 billion at one point. Terraform and Kwon fought our efforts to investigate – taking a fight over investigative subpoenas all the way to the Supreme Court. They are Caroline Ellison, the Alameda Research CEO who at one time dated Bankman-Fried; FTX engineering chief Nishad Singh; and Gary Wang, the co-founder and chief technology officer of FTX.
Persons: Kwon, Woohae Cho, Sam Bankman, Changpeng Zhao, Luna, atoning, Alex Mashinsky, Wall, Stevo Vasiljevic, Reuters Kwon, He's, Satoshi Nakamoto, Elon Musk, Mike Novogratz, Gary Gensler, , Fried, Fatih Aktas, Lewis Kaplan, Kaplan, Bankman, convicting, Prosecutors, Ryan Salame, Caroline Ellison, Nishad Singh, Gary Wang, FTX, Jason Redmond, Zhao, Richard Jones, , Binance, Justin Sullivan Organizations: Terraform Labs, Bloomberg, Getty, U.S, Forbes, Arrows Capital, Voyager, U.S . Securities, Exchange Commission, Labs, U.S . Justice Department, Futures Trading Commission, Treasury Department, bitcoin, BlackRock, Fidelity, Reuters, terraUSD, UST, Traders, Twitter, SEC, Supreme, Anadolu Agency, Alameda Research, ., Republicans, Bankman, AFP, of Prisons, District, Bank, DOJ, CFTC, Treasury, Binance, New, Commercial Bank Locations: U.S, Balkans, Podgorica, Montenegro, Singapore, Dubai, Serbia, Balkan, South Korea, United States, lockstep, New York, Manhattan, Seattle, Lompoc , California, Binance
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance's chief compliance officer weighs in on the Nigerian trial of one of its executivesNoah Perlman, chief compliance officer at Binance, discusses the latest in the legal battle between Nigeria and one of the company's executives.
Persons: Noah Perlman Locations: Nigeria
Binance's ex-CEO begins prison sentence in California
  + stars: | 2024-05-31 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +1 min
Binance's billionaire founder Changpeng Zhao has reported to a low-security federal prison in Lompoc, California. CNBC reached out to Zhao's defense team at Latham & Watkins to confirm that the former crypto chief is now in custody. Zhao was sentenced to four months in prison in April after pleading guilty to charges of enabling money laundering at his crypto exchange. The sentence handed down to the former Binance chief was significantly less than the three years that federal prosecutors had been seeking for him. "I'm sorry," Zhao told U.S. District Judge Richard Jones before receiving his sentence, according to Reuters.
Persons: Changpeng Zhao, Watkins, Zhao, Richard Jones, Organizations: CNBC, Latham, U.S, District, Reuters Locations: Lompoc , California
(That's not a knock on the company — for a lot of crypto exchanges, the Empire State is a tough nut to crack.) Crypto.com's primary business is its cryptocurrency exchange, which works as a middleman for people buying and selling crypto, but it also offers other products, including crypto Visa cards. To be sure, the casino thing could be said about most crypto exchanges — and sports-betting apps, and many regular trading apps. It's a good reminder that, whatever the company, it's better to use exchanges only for trading your crypto assets, not for storing them. Or maybe in five years we'll be looking back at this moment and saying: "Remember that one crypto company?
Persons: Eminem, Sam Bankman, Crypto.com doesn't, Jojo Siwa, it's, He'd, Nic Carter, Crypto.com, Kris Marszalek, Foris DAX Asia, It's, Matt Damon, Steven Kalifowitz, Bill Clinton, Tony Blair, FTX, hasn't, Marszalek, wasn't, Alex Gladstein, Emily Stewart Organizations: NBA, Los Angeles Lakers, It's, UFC, NASCAR, Lakers, Castle, Ventures, Staples Center, Miami Heat's, Binance's, Forbes, Financial Times, Securities and Exchange Commission, Bloomberg, PayPal, JPMorgan doesn't, Human Rights Foundation, Business Locations: New York, America, Singapore, Nigeria, Bulgaria, Monaco, Hong Kong, Polish, Los Angeles, Bahamas, Netherlands, Asia, Americas
CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.
Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, , , Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R
Binance is finding 300,000 fake addresses every week, mainly on Ethereum and Bitcoin networks. AdvertisementAs crypto thieves find more creative ways to trick people, so do those trying to crack down on them. Binance, a major crypto exchange, told Business Insider that it has developed an algorithm to spot fake crypto addresses — used in so-called "address poisoning" scams. According to Binance, the company's algorithm is detecting some 300,000 fake addresses every week, mostly on Ethereum and Bitcoin networks. The FBI warns that services offering to return money to the victims of crypto scams might actually also be scams themselves.
Persons: , it's, Binance Organizations: Service, Services, FBI
Mr. Gambaryan, a former U.S. law enforcement agent, understood the message as a request for a bribe from someone in the Nigerian government, according to five people familiar with the matter and messages reviewed by The New York Times. He and a group of his Binance colleagues had just met with Nigerian legislators, who accused the company of tax violations and threatened to arrest its employees. Later that month, Mr. Gambaryan wrote a three-page report describing the payment request and gave it to Binance’s lawyers, two people familiar with the report said. The episode was the backdrop for a second trip to Nigeria that Mr. Gambaryan took in February. On his return, he and a colleague, Nadeem Anjarwalla, were arrested by the Nigerian authorities, setting off a crisis at Binance.
Persons: Tigran Gambaryan, Gambaryan, Nadeem Anjarwalla Organizations: The New York Times Locations: Nigeria, U.S, Nigerian, Binance
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