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☆ Putin is putting his bromance with Xi on full display — but China has reason to be wary
▼ + stars: | 2024-05-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewChina's leader, Xi Jinping, rolled out the red carpet for his "old friend" Vladimir Putin on Thursday. For his part, Putin lavished praise on China, whose support has been vital during Russia's invasion of Ukraine. But underneath the pageantry and rhetoric, Xi is under mounting pressure over his alliance with Putin — and he has good reason to be wary of their "no limits" partnership. President Vladimir Putin and China's President Xi Jinping attend a concert marking the 75th anniversary of the establishment of diplomatic relations between Russia and China in Beijing. "Meeting with Putin now is Xi's way of showing that China will not bend to Western pressure," said Torigian.

Persons: —, Xi, Vladimir Putin, Putin, Putin —, Xi Jinping, ALEXANDER RYUMIN, Zhao Tong, Graeme Thompson, Thompson, Joseph Torigian, Ali Wyne Organizations: Service, Business, Getty, BBC, Carnegie Endowment, Eurasia Group, Putin, Financial Times, School of International Service, American University, Xi, International Crisis Locations: Russian, Soviet, China, Ukraine, Russia, Beijing, Europe, Moscow, United States, Washington ,, America, Russia's, West

☆ These are the 10 best-led companies in the country, according to Glassdoor—they have more than just 'a great CEO'
▼ + stars: | 2024-05-15 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

The company with the best leadership in the U.S. isn't a tech titan or hospitality giant: It's management consulting firm Bain & Company. That's according to Glassdoor, which released on Tuesday its inaugural 50 Best-Led Companies ranking. The list measures how effectively bosses communicate and foster healthy company cultures, based on the workplace review website's anonymous employee ratings. Beyond Bain, the tech industry does occupy much of the list — 12 companies, more than any other sector. Consulting, finance and retail are the next-most represented industries, with six companies appearing from each.

Persons: Bain, Glassdoor, Daniel Zhao, Zhao, Nvidia Raymond James Organizations: Bain & Company, Consulting, CNBC, Equitable, Autodesk Bain & Company Locations: U.S

☆ BofA Securities says copper is one of its top commodity picks
▼ + stars: | 2024-05-09 | 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 EmailBofA Securities says copper is one of its top commodity picksMatty Zhao, head of Asia-Pacific basic materials and oil and gas research at BofA Securities, says artificial intelligence will boost the demand for copper and the metal's prices.

Persons: Matty Zhao Organizations: BofA Securities Locations: Asia, Pacific

☆ I spent 18 months and $34,000 traveling the world but was burnt out and unhappy—this was my No. 1 mistake
▼ + stars: | 2024-05-07 | by ( Helen Zhao | ) www.cnbc.com time to read: +4 min

Looking to heal my burnout and find happiness beyond work, I spent a year and a half — and $34,000 — exploring South America and Asia. That's when I realized I'd made a huge mistake: I had changed my circumstances, but not my state of mind. But my burnout gave me the clarity I needed to slash my sabbatical bucket list in half, to focus on quality over quantity. I accepted that I'd continue traveling later if I wanted to, even if it meant less time to pursue professional goals. I gave up trying to work and make money while travelingIn my first few months traveling, I frequently stayed up late to formulate and pitch freelance story ideas.

Persons: I'd, Helen Zhao I, Chiang Mai Organizations: Starbucks Locations: South America, Asia, Patagonia, Thailand, Island, Korea, Japan, Tokyo, Pai , Thailand, Cartagena, Colombia

☆ 5 things to know before the stock market Monday, May 6
▼ + stars: | 2024-05-06 | by ( Michele Luhn | ) www.cnbc.com time to read: +3 min

Feeling optimisticStock futures were higher Monday after ending last week on a positive note in light of a weaker-than-expected jobs report. Last week, the Dow and Nasdaq rose 1.1% and 1.4%, respectively, while the S&P 500 added 0.5%. Buffett's back, all rightWarren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. During the meeting, Buffett also fielded questions from shareholders, opined on the future of artificial intelligence and praised Fed Chair Jerome Powell for his work steering the economy. Final verdictCombination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance.

Persons: Joseph Prezioso, Warren Buffett, Charlie Munger, Buffett, Greg Abel, Jerome Powell, Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, Zhao, Justin Sullivan Organizations: Dow, Nasdaq, Traders, Federal Reserve, Disney, Anadolu Agency, Getty, Berkshire, CNBC, Oracle, Berkshire Hathaway's, Paramount, Reuters, Bloomberg Locations: Omaha , Nebraska, Omaha, San Rafael , California

☆ From 25 years in prison to just four months: Inside the final verdict on a crypto billionaire CEO archrivalry
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. A month earlier, on the opposite coast in downtown Manhattan, FTX's Sam Bankman-Fried received a 25-year prison sentence for his crimes. At the beginning of his trial, SBF sported a fresh haircut and wore suits, but by its end, his curls were wild again. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. watch nowMoney makes all the differenceUnlike SBF, CZ didn't have his wealth wiped out by bankruptcy of the crypto company he founded.

Persons: Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, FTX's Sam Bankman, Fried, Zhao, Binance's Zhao, FTX's, Toyotas, Braden Perry, Perry, Manfred, SBF, Michael Lewis, Lewis, Sam didn't, Amr Alfiky, Sam, Caroline Ellison, —, Zhao's, Yi He, Binance, David Ryder, Yang, Rachel Zhao, Yesha Yadav, Yadav, Mark Bini, Lewis Kaplan, Bankman, Kaplan, perjured, Neama Rahmani, Rahmani, Tre Lovell, Zhao hasn't, Lovell, weren't, FTX Organizations: Reuters, Bloomberg, Getty, Department of Justice, CFTC, Stanford University's, Bankman, CZ, Staff, Reuters Prosecutors, Alameda Research, Vanderbilt University, Wall Street, CNBC, FTX, Emergency Economic, Justice Department, DOJ Locations: Seattle, Manhattan, California, Hong Kong, Bahamas, Palo Alto, U.S, New York City, Alameda, Seattle , Washington, Paris, France, Angeles, Binance, Dubai, Delaware

☆ Crypto investor 'bitcoin Jesus' arrested and charged by the Justice Department with $48 million tax evasion
▼ + stars: | 2024-05-01 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

"Bitcoin Jesus" Roger Ver was arrested in Spain on charges of tax evasion this week. An early crypto enthusiast, he's been a long-time bitcoin evangelist, earning him the "bitcoin Jesus" nickname. AdvertisementVeteran crypto trader Roger Ver, also known as "bitcoin Jesus," was arrested in Spain and charged by the US Department of Justice with evading $48 million in taxes. Ver faces three charges of mail fraud, two charges of tax evasion, and three charges of subscribing to a false tax return. Ver, who was an early cryptocurrency evangelist, has been avidly promoting bitcoin for years, earning him the "Bitcoin Jesus" moniker.

Persons: Jesus, Roger Ver, Ver, he's, —, Agilestar —, Ver didn't, Binance's, Changpeng Zhao, Sam Bankman, Fried Organizations: DOJ, Service, Veteran, US Department of Justice, Justice Department Locations: Spain, St, Kitts, Nevis, US

☆ The Fed could make a big change today. We’re not talking about interest rates
▼ + stars: | 2024-05-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Wednesday’s Federal Reserve policy decision will likely be pretty boring for investors — officials are widely expected to keep interest rates the same, just as they have since July 2023. They think that the Fed may curtail its quantitative tightening (QT) program — that’s the selling off of its assets to decrease money supply and increase interest rates — by as much as half. Those purchases ended up pushing down interest rates in certain parts of the economy, like housing and auto sales. That led to a “repo crisis”, where the interest rates for overnight loans between banks spiked unusually high. That’s because a taper should send bond prices higher, and interest rates lower.

Persons: there’s, Jamie Dimon, Jerome Powell doesn’t, Krishna Guha, Marco Casiraghi, ”, Bill Adams, Biden, reclassify, General Merrick Garland, Xochitl Hinojosa, “, Nancy Mace, Earl Blumenauer, ” Read, Zhao, Allison Morrow, ” Binance Organizations: CNN Business, Bell, New York CNN, Fed, JPMorgan Chase, Comerica Bank, Bank of America, CNN, US Department of Justice, Federal Register, Congress, Associated Press, Republican, CZ, Binance, Bloomberg Locations: New York, South Carolina, Oregon, Seattle

☆ Interest rates staying where they are is a forgone conclusion, but the Fed's decision day still matters
▼ + stars: | 2024-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.

Persons: —, it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London

☆ Bitcoin nosedives below $57,000 to two-month low ahead of U.S. Fed decision
▼ + stars: | 2024-05-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Bitcoin on Wednesday plunged sharply to its lowest level in over two months amid broader risk-off sentiment in markets, as investors kept an eye on the U.S. Federal Reserve's upcoming interest rate decision. Crypto market participants are eyeing the upcoming interest rate decision from the U.S. Federal Reserve. The Federal Open Market Committee is due to meet on Wednesday afternoon to discuss its latest policy on interest rates. Markets have become more shaky lately, as investors fret over the prospect of a longer path toward interest rate cuts.

Persons: Bitcoin, Jerome Powell, Geoff Kendrick, Kendrick, Changpeng Zhao Organizations: U.S, U.S . Federal, U.S . Federal Reserve Locations: U.S ., CoinGecko, solana, U.S, Hong Kong

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin sinks to its lowest level since February to start May: 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, Liz Lopatto of The Verge discusses the sentencing of ex-Binance CEO Changpeng Zhao, who received four months in prison over money laundering violations.

Persons: explainers, Liz Lopatto, Changpeng Zhao Organizations: CNBC Crypto, CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance founder Changpeng Zhao faces sentencing over money laundering violations: 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, Kevin Dinino, founder and president of KCD PR, discuss how companies are taking advantages of crypto's 2024 comeback.

Persons: Changpeng Zhao, explainers, Kevin Dinino Organizations: CNBC Crypto, CNBC, KCD PR

Changpeng Zhao, the founder and former CEO of crypto exchange Binance, heads to a Seattle courtroom on Tuesday to learn whether the crimes he admitted to committing will land him in prison for an extended sentence. As part of his plea deal with the Department of Justice, Zhao agreed to step down as CEO. Once a titan of the crypto sector, Zhao grew Binance into the world's largest centralized crypto exchange globally. Unlike rival exchange FTX, which collapsed into bankruptcy when founder Sam Bankman-Fried was criminally charged, Binance has continued to operate. Binance processed a whopping $18.1 trillion worth of trading volume in 2023, according to data from CCData, a crypto market data firm.

Persons: Changpeng Zhao, Zhao, Richard Jones, Binance, Sam Bankman, Fried, Nansen, he's Organizations: Department of Justice, District, Prosecutors, Bank, U.S, Justice Department, Futures Trading Commission, Treasury Department, SEC Locations: Seattle, U.S, CCData, Iran

☆ Binance's former CEO could be the richest US prison inmate ever if sentenced with his $43 billion fortune
▼ + stars: | 2024-04-30 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Binance's founder CZ could end up being the richest-ever US prison inmate if he's sentenced on Tuesday. Zhao currently has a $43 billion fortune, according to an estimate from Bloomberg. The former crypto exchange boss has asked for no prison time. If he does go to jail, Zhao could be the richest inmate ever to be sentenced in the US, given his $43 billion fortune, per an estimate from Bloomberg. In a letter sent to a Seattle judge in February, he apologized for his "poor decisions" while running his crypto exchange.

Persons: he's, Zhao, —, Changpeng Zhao, That's, Sam Bankman, Fried, Yi, Binance's, Binance Organizations: Bloomberg, Service, Seattle Court, Forbes, Binance, Street Journal, of Justice, CZ Locations: Seattle

☆ Binance Founder Sentenced to Four Months in Prison
▼ + stars: | 2024-04-30 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Changpeng Zhao, the billionaire founder of the giant cryptocurrency exchange Binance, was sentenced to four months in prison on Tuesday, a much shorter term than prosecutors had demanded after he pleaded guilty to money laundering violations last year. Prosecutors had asked for three years in prison while Mr. Zhao’s defense lawyers had requested probation without any prison time. In March, Sam Bankman-Fried, the founder of the collapsed FTX exchange and Mr. Zhao’s onetime business rival, was sentenced to 25 years in prison for fraud. Not long ago, Mr. Zhao and Mr. Bankman-Fried stood atop the multitrillion-dollar crypto industry. But it also faced investigations by several U.S. agencies into whether Mr. Zhao had broken the law to build his empire.

Persons: Changpeng Zhao, Prosecutors, Justice Department’s, Sam Bankman, Zhao’s, Zhao, Fried, Binance Organizations: Justice

Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024. Binance's billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange. The sentence in Seattle federal court was significantly less than the three years that federal prosecutors were seeking for Zhao. In November, Zhao struck a deal with the U.S. government to resolve a multiyear investigation into Binance, the world's largest cryptocurrency exchange. The action against Binance and its founder was a joint effort by the Department of Justice, the CFTC and the Treasury Department, though the SEC was notably absent.

Persons: Changpeng Zhao, Binance, Zhao Organizations: U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission, Binance, Department of Justice, CFTC, Treasury Department, SEC Locations: Seattle , Washington, US, Seattle, Binance, U.S

☆ Former Binance CEO Changpeng Zhao sentenced to four months in prison
▼ + stars: | 2024-04-30 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Changpeng Zhao, founder of crypto exchange Binance, has been sentenced to 4 months in prison. AdvertisementChangpeng Zhao, the founder and ex-CEO of crypto exchange giant Binance, has been sentenced to four months in prison after pleading guilty to charges in a Seattle federal court that the trading platform violated US anti-money laundering requirements. Related storiesAfter pleading guilty, Zhao, once one of the wealthiest people in crypto, was directed to step down from the helm of Binance last November. Sam Bankman-Fried, the CEO of the exchange, was eventually sentenced to 25 years in prison after he was found guilty of multiple fraud charges. Binance and the US Department of Justice didn't immediately respond to a request for comment from Business Insider before publication.

Persons: Changpeng Zhao, Zhao, —, Sam Bankman, Binance, US Department of Justice didn't Organizations: DOJ, Service, US Department of Justice, Commodity Futures, Trading Commission, Business Locations: Seattle, Binance, Iran

☆ Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
▼ + stars: | 2024-04-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we examine how tough the job market is for the well-paid employee . That's the current job trend, as higher-paid employees are having trouble finding work despite a historically strong labor market. iStock; Rebecca Zisser/BIThe so-called white-collar recession could also have a lasting impact on the job market for high earners. AdvertisementIt speaks to the broader theme of efficiency Big Tech companies have touted for the better part of a year .

Persons: —, Alyssa Powell, Insider's Aki Ito, BI's Emily Stewart, Aki, Rebecca Zisser, Wall, There's, Christine Ji, Kenneth Tan, Alexander Spatari, Abanti Chowdhury, Christine Ji's, Raymond James, Larry Adam, Goldman Sachs, Elon Musk, Premier Li Qiang, Beijing . Wang Ye, Musk, Li Qiang, Jensen Huang, Douglas Sacha, Getty, Bob Bakish, Shari, David Kohl, Shopify, Changpeng Zhao, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Hamptons, Big Tech, Tech, Amazon, Bank of America, Elon, Premier, AP Elon Musk's, Federal Reserve, Paramount Locations: America, Beijing ., Xinhua, China, New York, London

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Former federal prosecutor Neama Rahmani agrees, adding that Zhao's personal wealth won't be affected by his sentence. That's a different siutation from Sam Bankman-Fried, the controversial ex-CEO and founder of crypto exchange FTX. Bankman-Fried received a 25-year prison term for crimes connected to the operation of his crypto exchange. "Negative long-term impact on Binance will diminish the value of CZ's investment in the crypto exchange," said Yadav.

Persons: Changpeng Zhao, Reuters Changpeng Zhao, Zhao, Gabriel Abed, Richard Jones, Tre Lovell, Neama Rahmani, David Ryder, Binance, Braden Perry, Sam Bankman, Joshua de Vos, de Vos, Fried, Yesha Yadav, That's, Forbes, he's, Lucas Kiely, Kiely —, —, Yadav, it's Organizations: Staff, Reuters, CNBC, U.S, U.S . Department of Justice, District, Toyota, Bloomberg, Getty, Bank, Commodity Futures Trading Commission, Vanderbilt University, Department, Securities and Exchange Commission, SEC Locations: Paris, France, Seattle, Zhao, Binance, Los Angeles, Seattle , Washington, Dubai, U.S, bitcoin, Iran

☆ Even as He Faces Prison Time, Binance’s Founder Plans a Comeback
▼ + stars: | 2024-04-30 | by ( David Yaffe-Bellany | Cade Metz | ) www.nytimes.com time to read: +1 min

And he chatted about start-ups with Sam Altman, the chief executive of OpenAI. After pleading guilty to a money-laundering violation in November, Changpeng Zhao, the founder of the cryptocurrency exchange Binance, did not sit still. A federal judge denied his request to return home to Dubai, but Mr. Zhao, 47, was free to roam the United States. When he pleaded guilty, Mr. Zhao, once the most powerful figure in the global crypto industry, resigned as Binance’s chief executive and agreed to pay a $50 million fine. But Mr. Zhao, who goes by the initials CZ, is already looking to the future.

Persons: Sam Altman, Changpeng Zhao, Zhao, Forbes Organizations: OpenAI Locations: Montana, U.S, Telluride, Colo, Moab , Utah, Dubai, United States, Seattle

☆ Binance founder is sentenced to 4 months in prison on money-laundering charges
▼ + stars: | 2024-04-30 | by ( Allison Morrow | ) edition.cnn.com time to read: +1 min

New York CNN —Changpeng Zhao, the founder of the world’s leading cryptocurrency exchange, was sentenced on Tuesday to four months in prison after pleading guilty to money-laundering charges last year. The sentence, handed down in a US federal court in Seattle, is far lighter than the three years prosecutors had argued for. Prior to the sentencing hearing Tuesday, Zhao, who goes by CZ, apologized for mistakes he made as CEO of Binance, the crypto exchange he founded in 2017. “Words cannot explain how deeply I regret my choices that result in me being before the Court,” he said in a letter to the judge. Zhao, who is 47 and has a personal fortune of nearly $40 billion, according to Bloomberg, agreed to step down as CEO and pay $200 million in fines.

Persons: Changpeng Zhao, Zhao, ”, “, ” Binance Organizations: New, New York CNN, CZ, Binance, Bloomberg Locations: New York, Seattle

☆ Binance Founder Should Get Three Years in Prison, Prosecutors Say
▼ + stars: | 2024-04-24 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Changpeng Zhao, the founder of the giant cryptocurrency exchange Binance, should go to prison for three years after breaking the law “on an unprecedented scale” and pleading guilty to a money laundering violation, federal prosecutors wrote in a court filing on Wednesday. Defense lawyers countered in their own memo that Mr. Zhao, 47, should receive no prison time and face a sentence of probation, arguing that he had accepted responsibility for his crime and showed a commitment to philanthropy. A federal judge in Seattle, Richard A. Jones, is set to evaluate those dueling recommendations at a sentencing hearing for Mr. Zhao on Tuesday. His sentencing will be the latest landmark in a series of criminal prosecutions that have targeted some of the most powerful figures in the global cryptocurrency industry. Now Mr. Zhao faces his own prison sentence after cutting a deal with prosecutors in November, admitting that he failed to set up an adequate system at Binance to prevent money laundering.

Persons: Changpeng Zhao, Zhao, Richard A, Jones, Sam Bankman Locations: Seattle

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDOJ says ex-Binance CEO Changpeng Zhao should serve three years in prison: 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, Anand Iyer, founder of Canonical Crypto, discusses the potential of merging blockchain technology and AI.

Persons: Changpeng Zhao, explainers, Anand Iyer, Canonical Crypto Organizations: DOJ, CNBC Crypto, CNBC

☆ U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022. U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday. The memorandum, which was filed with the court for the western district of Washington, states that Zhao should serve a higher sentence that suggested under advisory guidelines to "reflect the gravity of his crimes." Under advisory guidelines, Zhao's sentencing would come in at a range of 12 to 18 months in prison. "A custodial sentence of 36 months—twice the high end of the Guidelines range—would reflect the seriousness of the offense, promote respect for law, afford adequate deterrence, and be sufficient but not greater than necessary to achieve the goals of sentencing," U.S. prosecutors said.

Persons: Changpeng Zhao, Zhao, —, Binance Organizations: Viva Technology, Porte de, U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission Locations: Porte, Paris, Washington, U.S

☆ Philippines orders removal of Binance from Google and Apple app stores
▼ + stars: | 2024-04-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The Philippines' Securities and Exchange Commission (SEC) has ordered Google and Apple to remove cryptocurrency exchange Binance from their app stores. In a press release out on Tuesday, the regulator said it had sent letters to Google and Apple requesting the removal of applications controlled by Binance from the Google Play Store and Apple App Store, respectively. The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker, adding that this violates the country's securities laws. Binance, Google, and Apple were not immediately available for comment when contacted by CNBC. Aquino said that blocking Binance from the Google and Apple app stores would help "prevent the further proliferation of its illegal activities in the country, and to protect the investing public from its detrimental effects on our economy."

Persons: Zhao Changpeng, Binance, Emilio Aquino, Aquino Organizations: Viva Technology, Porte de, Securities and Exchange Commission, SEC, Google, Apple, Binance, CNBC Locations: Porte, Paris, France, Philippines, Philippine

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