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☆ Cristiano Ronaldo faces $1 billion class-action lawsuit for endorsing worthless NFTs
▼ + stars: | 2023-11-30 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Soccer superstar Cristiano Ronaldo is facing a $1 billion class action lawsuit for his promotion of Binance, the world’s biggest crypto exchange. Ronaldo and Binance didn’t immediately respond to CNN’s request for comment. Notably, Ronaldo is still promoting the company, including posting a Binance ad as recently as November 28 on his X account, which has 110 million followers. Celebrities suedOther celebrities have also been the target of similar lawsuits. He also agreed to pay a $50 million criminal fine and a $150 million civil penalty.

Persons: Cristiano Ronaldo, Ronaldo “, Ronaldo, Binance didn’t, Binance, “, Gary Gensler, Kim Kardashian, Celebrities, Tom Brady, Gisele Bundchen, Brady, Bundchen, Kardashian, Floyd Mayweather, Jr, cryptocurrency, Charles Whitehead, ” Whitehead, ”, Changpeng Zhao, ” Zhao, – CNN’s Jennifer Korn, Allison Morrow Organizations: New, New York CNN — Soccer, ” Securities, Exchange, SEC, Cornell Law School, CNN Locations: New York, Florida

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Persons: Dow Jones

☆ Bitcoin briefly crosses $38,000 mark despite more fallout from Binance charges: CNBC Crypto World
▼ + stars: | 2023-11-29 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin briefly crosses $38,000 mark despite more fallout from Binance charges: 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, Professor Yesha Yadav of Vanderbilt University Law School discusses crypto regulation and what's next for the industry following Binance's historic settlement with U.S. government officials.

Persons: explainers, Yesha Yadav Organizations: CNBC Crypto, CNBC, Vanderbilt University Law School

☆ Philippines' SEC to block access to world's largest crypto exchange Binance
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMANILA, Nov 29 (Reuters) - The Philippines' Securities and Exchange Commission has begun the process of blocking access to the world's largest crypto exchange Binance, whose chief last week stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. The SEC said the operator of Binance was not a registered corporation in the Philippines, and was operating without the necessary licence and authority to sell or offer any form of securities. The removal of access in the Philippines, the SEC said in a statement, will take effect within three months of the issuance of its advisory on Nov. 28 to give Filipino users time to pull out investments from the crypto exchange. Former Binance chief Changpeng Zhao stepped down as CEO last week after pleading guilty to wilfully causing the exchange to fail to maintain an effective anti-money laundering program.

Persons: Dado Ruvic, Binance, Alphabet's, Changpeng Zhao, Karen Lema, Mikhail Flores, Jan Harvey Organizations: REUTERS, Rights, Securities and Exchange Commission, SEC, Alphabet's Google, Facebook, Binance, Reuters, Thomson Locations: Rights MANILA, Philippines

☆ Crypto exchanges will be 'on notice' after Binance settlement: Vanderbilt Law Professor Yesha Yadav
▼ + stars: | 2023-11-29 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto exchanges will be 'on notice' after Binance settlement: Vanderbilt Law Professor Yesha YadavProfessor Yesha Yadav of Vanderbilt Law School discusses crypto regulation and what's next for the industry following Binance's historic settlement with U.S. government officials.

Persons: Yesha Yadav Organizations: Vanderbilt, Vanderbilt Law School

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing RightsNov 29 (Reuters) - The U.S. government will cut off cryptocurrency companies from the broader U.S. economy if they fail to block and report illicit money flows, Deputy Treasury Secretary Wally Adeyemo warned the industry on Wednesday. The Biden administration on Tuesday sent a letter to Congress, requesting new legislation that would grant Treasury the authority to police crypto marketplaces used by actors the U.S. government deems illicit, Adeyemo said. Binance said in response that it had worked hard to make the platform "safer and even more secure." Reporting by Hannah Lang in Washington; Editing by Michelle PriceOur Standards: The Thomson Reuters Trust Principles.

Persons: Marco Bello, Wally Adeyemo, Adeyemo, Biden, Changpeng Zhao, Binance, Hannah Lang, Michelle Price Organizations: REUTERS, U.S, Blockchain Association, Treasury, Palestinian, Prosecutors, Islamic, Thomson Locations: Miami Beach , Florida, U.S, Israel, Gaza, al Qaeda, Islamic State, Iraq, Syria, Washington

☆ IOTA launches $100 million entity in Abu Dhabi to create digital network
▼ + stars: | 2023-11-29 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +3 min

IOTA digital tokens will fund the investment. The foundation will be seeded with over $100 million in IOTA tokens, to be vested over the next four years, Schiener said. IOTA tokens on Tuesday traded at about $0.17, with a market capitalization of roughly $524 million, Coinmarketcap.com showed. The funds will be used to develop the IOTA network and accelerate its growth, Schiener said. IOTA will also start "tokenizing" assets, he said, a process in which ownership rights in land or buildings are represented as digital tokens and stored on a blockchain.

Persons: Satoshi bitcoin, Arnd, Dominik Schiener, Binance, Schiener, Hamad Sayah Al Mazrouei, Gertrude Chavez, Dreyfuss, Alden Bentley, Richard Chang Organizations: Swiss, Bity, REUTERS, IOTA, Wednesday, Abu Dhabi Global, United Arab, Registration, ADGM, Thomson Locations: Zurich, Switzerland, Abu Dhabi, United Arab Emirates, UAE, Europe, Germany

☆ Fintech firm SoFi set to exit cryptocurrency business
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Financial technology firm SoFi Technologies (SOFI.O) is set to exit the cryptocurrency business and has given its customers the option to migrate to UK-based Blockchain.com, the companies said on Wednesday. The San Francisco-based company said it was ending its crypto services on Dec. 19, and starting Wednesday, new SoFi crypto accounts cannot be opened. SoFi said its eligible customers can migrate their account to Blockchain.com or close their account instead. Crypto users living in New York will not be eligible for the migration due to New York state availability. London-based Blockchain.com said crypto account holders at SoFi will get access to dozens of tokens traded on its platform.

Persons: Sam Bankman, Changpeng Zhao, SoFi, Blockchain.com, Arasu Kannagi Basil, Devika Organizations: SoFi Technologies, U.S . Securities, Exchange Commission, Bloomberg News, Thomson Locations: San Francisco, New York, London, Bengaluru

☆ CNBC Daily Open: Is record Black Friday sales surge a false dawn?
▼ + stars: | 2023-11-28 | by ( Clement Tan | ) www.cnbc.com time to read: +3 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. Shein IPOFast-fashion retailer Shein has confidentially filed to go public in the U.S. and is moving ahead with its long-awaited IPO, CNBC has learned. The last danceTikTok parent ByteDance is cutting hundreds of jobs in its gaming division, Nuverse, a person familiar with the matter told CNBC. CNBC Pro identifies where to get the biggest bang for your idle buck as 2023 winds down.

Persons: Shein, Binance, Brian Armstrong, Armstrong, Tencent, Nuverse, Haitham Al Ghais Organizations: National Retail Federation, CNBC, Dow Jones, Nasdaq, U.S . Department of Justice, U.S, Bank, of Petroleum, United Nations, United Arab, Federal Locations: New York, U.S, China, Iran, United Arab Emirates

☆ CNBC Daily Open: Is record Black Friday sales spike a false dawn?
▼ + stars: | 2023-11-28 | by ( Clement Tan | ) 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. Mixed movesAsia-Pacific markets were mixed on Tuesday after U.S. stocks fell the day before as traders took a breather following a four-week winning streak for major averages. Shein IPOFast-fashion retailer Shein has confidentially filed to go public in the U.S. and is moving ahead with its long-awaited IPO, CNBC has learned. The Nasdaq last week launched new two-week options contracts that expire on Wednesdays based on a series of exchange-traded products.

Persons: Korea's KOSPI, Shein, Binance, Brian Armstrong, Armstrong, Morgan Stanley — Organizations: CNBC, Nikkei, Nasdaq, U.S . Department of Justice, U.S, Bank Locations: Asia, Pacific, Qatar, Israel, U.S, China, Iran, India

☆ Binance settlement represents 'significant turning point' for crypto: AltTab Capital's Greg Moritz
▼ + stars: | 2023-11-28 | by ( Talia Kaplan | Kaan Oguz | ) 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 settlement represents 'significant turning point' for crypto: AltTab Capital's Greg MoritzGreg Moritz, co-founder and COO of AltTab Capital, discusses why he believes Binance can thrive even more under new leadership and what's next for the crypto industry following the firm's settlement with U.S. government officials.

Persons: Capital's Greg Moritz Greg Moritz, what's Organizations: AltTab

☆ Donations to Hamas-linked charities spike 70% since Oct. 7 attack, Israeli officials say
▼ + stars: | 2023-11-28 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +9 min

"We saw a 70% increase in money given to Hamas-linked charities," said Uzi Shaya, a former high-ranking officer in Mossad, Israel's intelligence service. Charities suspected of funneling money to Hamas often change their names, too, making them all the more difficult to monitor. Israel's National Bureau of Counter Terror Financing maintains a list of charitable organizations that it accuses of directly aiding Hamas' military. Hard lessonsEnsuring that individual Gazans have economic opportunity without simultaneously funding Hamas militants has proven to be a difficult challenge for Israel. Beyond direct funding, Israel also allowed 18,000 Gazans to enter Israel to work, again hoping that a stable economy would pacify Hamas.

Persons: John Macdougall, Uzi Shaya, Shaya, Din, Akin, Hawala, Israel, Karim Jaafar, Israel haven't, Binance, —, Al, Adel Hana, Fadel Senna Organizations: Hamas, West Bank, AFP, Getty, Israeli Defense and Foreign Ministry, CNBC, Foreign Ministry, Islamic, Bureau of, Qatari Red Crescent, Gaza, Qatar Emiri Air Force, International Airport, Palestinian, Treasury Department Locations: Ramallah, Israel, Gaza, Islamic Jihad, Lebanon, Iran, Hawala, North Sinai, Egypt, U.S, Gaza City, Adel Hana An Israeli, Sderot

☆ Chia Network CEO: Binance saga is a reminder of why decentralization matters
▼ + stars: | 2023-11-28 | 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 EmailChia Network CEO: Binance saga is a reminder of why decentralization mattersGene Hoffman, CEO and president at Chia Network, says the Binance saga is a reminder of why decentralization matters.

Persons: Gene Hoffman Organizations: Email Chia, Chia Network

☆ ARK Invest sells more than $5 million Coinbase shares amid rising stock prices: CNBC Crypto World
▼ + stars: | 2023-11-28 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Invest sells more than $5 million Coinbase shares amid rising stock prices: 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, Greg Moritz, co-founder and COO of AltTab Capital, discusses why he believes Binance can thrive even more under new leadership.

Persons: explainers, Greg Moritz Organizations: CNBC Crypto, CNBC, AltTab

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 27 (Reuters) - Former Binance chief Changpeng Zhao must stay in the United States for the time being, a federal judge said on Monday, after the founder of the world's largest cryptocurrency exchange pleaded guilty to violating U.S. anti-money laundering laws. U.S. District Judge Richard Jones in Seattle said he would review whether Zhao should have to stay in the United States after the U.S. government appealed a decision by another judge allowing Zhao to return to the UAE before his Feb. 23 sentencing hearing. Last week, Zhao conceded: "I made mistakes, and I must take responsibility." The government had said it may be unable to secure Zhao's return to the United States given it has no extradition treaty with the UAE. Lawyers for Zhao disputed that he was a potential flight risk, noting that he paid a "substantial" bail package and voluntarily came to the United States to accept responsibility for his actions.

Persons: Zhao Changpeng, Binance, Benoit Tessier, Changpeng Zhao, Zhao, Richard Jones, Chris Prentice, Hannah Lang, Michelle Price, Bill Berkrot Organizations: Viva Technology, Porte de, REUTERS, United Arab, District, U.S, UAE, Binance Holdings, Justice, Lawyers, Thomson Locations: Porte, Paris, France, United States, Seattle, United Arab Emirates, Canada, Binance, New York, Washington

Six people listed on Israel's previous Tron seizure notices who responded to Reuters questions denied connections to militant groups. Iran has previously used Tron to skirt U.S. sanctions. 'BLINDSPOT'Since its 2008 birth, the Bitcoin blockchain, and since then crypto more widely, have been magnets for criminals drawn by liquidity and a reputation for anonymity. In 2021, the first year NBCTF published seizure notices, it froze 30 Bitcoin wallets. No Bitcoin wallets appear in notices in the subsequent years.

Persons: Dado Ruvic, Mriganka Pattnaik, Merkle, Hayward Wong, Tron, Wong, Israel, NBCTF, Weeks, Justin Sun, Sun, Binbin Deng, Shlomit Wagman, VanEck, Wagman, Tom Wilson, Elizabeth Howcroft, Nidal al, Gebeily, Frank Jack Daniel Our Organizations: REUTERS, Hezbollah, Reuters, Israel's, Bureau for, British Virgin Islands, Dubai Co, Israel, Hamas, Islamic, West Bank, Tron, U.S . Securities, Exchange Commission, SEC, Sun, Force, Harvard University, Authority, Militant, Thomson Locations: Iran, Israel, United States, New York, Britain, Singapore, Gaza, British Virgin, Jihad, Dubai, Venezuela, Jenin, Tehran, Paris, U.S, London, Beirut

☆ SEC Keeps Pressing for Evidence of Potential Fraud at Binance.US
▼ + stars: | 2023-11-27 | by ( ) www.wsj.com time to read: 1 min

The Securities and Exchange Commission is still looking for evidence that Binance and its founder Changpeng Zhao may have a backdoor to control assets stored on the Binance.US platform. The SEC sued Binance and Binance.US in June alleging they operated illegal securities exchanges, and its lawsuit so far has hinged on the agency's concerns about the potential for Binance to expropriate the American crypto assets in an FTX-style fraud.

Persons: Changpeng Zhao, Binance Organizations: Securities, Exchange Commission, SEC Locations: Binance.US

☆ Coinbase CEO says crypto industry can turn the page after historic Binance settlement
▼ + stars: | 2023-11-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023. The crypto industry can finally close the chapter on a litany of scandals and problems after Binance was hit with a historic settlement by the U.S. Department of Justice, Coinbase CEO Brian Armstrong said Monday. "There are many crypto companies that are helping build the crypto economy and change our financial system globally. Binance was hit by the U.S. Department of Justice with a $4 billion settlement last week, which saw its founder and CEO Changpeng Zhao step down and plead guilty to charges of money laundering violations. "It's true that there have been some small amount of illicit activity in crypto but it's actually less than 1% from what we've seen.

Persons: Brian Armstrong, Binance, Armstrong, CNBC's Joumanna, Changpeng Zhao, we've Organizations: Coinbase Global Inc, U.S . Department of Justice, U.S, Bank, CNBC Locations: New York, Iran

☆ Judge Temporarily Blocks Binance Founder Changpeng Zhao From Leaving U.S.
▼ + stars: | 2023-11-27 | by ( ) www.wsj.com time to read: 1 min

A judge still needs to decide whether Zhao will be required to remain in the country to wait for sentencing for violating anti-money-laundering requirements . The sentencing is scheduled for late February. Zhao stepped down as chief executive of Binance last week after pleading guilty to one count in a Seattle federal court. He and his attorneys argued that he should be allowed to return to his residence in the United Arab Emirates. The government has opposed that, arguing Zhao could be a flight risk.

Persons: Zhao, Binance Organizations: United, United Arab Emirates Locations: Seattle, United Arab

☆ Coinbase CEO: Binance settlement means crypto can turn a page
▼ + stars: | 2023-11-27 | 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 EmailCoinbase CEO: Binance settlement means crypto can turn a pageThe crypto industry can finally "close the chapter" on a litany of scandals and problems after Binance was hit with a $4 billion settlement by the U.S. Department of Justice, Coinbase CEO Brian Armstrong said Monday.

Persons: Binance, Brian Armstrong Organizations: U.S . Department of Justice

☆ Binance founder Changpeng Zhao ordered by judge to stay in U.S. ahead of prison sentencing
▼ + stars: | 2023-11-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Binance founder Changpeng Zhao, who pleaded guilty last week to criminal charges tied to his cryptocurrency exchange, has to remain in the U.S. at least temporarily, according to a ruling Monday by a federal judge. Zhao was released on a $175 million bond last week and has a sentencing hearing scheduled for Feb. 23. Prosecutors said they'd already made an "exceptional recommendation" in suggesting that Zhao be allowed to remain free until his sentencing. Zhao agreed to step down as CEO of Binance as part of a $4.3 billion settlement with the Department of Justice. WATCH: Binance settlement a 'win' for the exchange and the industry

Persons: Changpeng Zhao, Zhao, Richard Jones, Prosecutors, they'd, Binance Organizations: Viva Technology, Porte de, Prosecutors, United Arab Emirates, U.S, Binance, Department of Justice, Justice Department Locations: Porte, Paris, U.S, Seattle, UAE, United States

☆ Ex-Binance CEO Zhao urges judge to allow him to leave the U.S. before sentencing
▼ + stars: | 2023-11-25 | by ( ) www.cnbc.com time to read: +3 min

Lawyers for former Binance CEO Changpeng Zhao are urging a U.S. judge to reject the Justice Department's request to bar him from returning to his home in the United Arab Emirates until he is sentenced for violating anti-money laundering requirements. Zhao's lawyers in a Thursday filing asked U.S. District Judge Richard Jones in Seattle not to reverse bail conditions set by a magistrate judge on Tuesday that would allow him to leave the U.S. while awaiting sentencing. The Justice Department has asked Jones by Monday to reverse a decision by U.S. Magistrate Judge Brian Tsuchida to allow Zhao to return home to the UAE ahead of his Feb. 23 sentencing after he agreed to release him on a $175 million bail bond. Allowing Zhao to return to the UAE would allow him to take care of his partner and three children and prepare them for his sentencing, defense lawyers argued. "In the vast majority of cases, a multi-billionaire defendant who has pleaded guilty, faces possible prison time, and lives in a country that does not extradite its citizens to the United States would be detained," Justice Department lawyers said.

Persons: Zhao Changpeng, Binance, Changpeng Zhao, Richard Jones, Zhao, Jones, Brian Tsuchida Organizations: Viva Technology, Porte de, United Arab Emirates, U.S, District, Islamic, U.S . Commodity Futures Trading Commission, Justice Locations: Porte, Paris, France, Seattle, U.S, UAE, Canada, Binance, al Qaeda, Islamic State, Iraq, Syria, United States

☆ Regulation is the main sticking point for crypto as bitcoin inches to another new 2023 high
▼ + stars: | 2023-11-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin rallied to start the week, touched a new 2023 high to end it and suffered a brief drop in between, weighed down by the trouble at Binance. Bitcoin ended the week higher by about 4% after touching a new 2023 high on Friday above $38,000. Coin Metrics measures a week in crypto, which trades 24 hours a day, from 4:00 p.m. Optimism about the likely approval of a spot bitcoin ETF has been building for the past couple months, serving as the biggest catalyst for the cryptocurrency. The challenge is that active crypto trader positioning appears long, he added, based on activity in crypto futures, options, open interest and funding rates.

Persons: Bitcoin, Zach Pandl, bitcoin, Pandl, Michael Rinko, Biden, there's Organizations: CNBC, Regulators, Delphi Locations: Binance, Argentina, U.S

☆ Binance and the End of Crypto’s Dream to Escape From Government
▼ + stars: | 2023-11-24 | by ( Henry Farrell | Abraham Newman | ) www.wsj.com time to read: +1 min

On Nov. 21, Binance, the world’s largest cryptocurrency exchange, pleaded guilty to breaking U.S. anti-money-laundering laws. U.S. authorities describe this as a watershed moment for crypto’s compliance with American law. Crypto’s creators aspired to create a decentralized money system, with no entry points for state oversight and surveillance. But the crypto economy has become increasingly centralized around exchanges like Binance and Coinbase. Crypto is being tamed, as its central actors agree to implement U.S. rules, extending the government’s reach into the heart of the crypto economy.

Persons: Crypto Locations: U.S

☆ Why Stamping Out Crypto Bros Could Help Bitcoin
▼ + stars: | 2023-11-24 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

Changpeng Zhao, founder and CEO of Binance, has pleaded guilty to money-laundering violations. PHOTO: REUTERS/Benoit TessierSuch is the wackiness of the crypto world that a regulatory crackdown might actually revive investor optimism. Earlier this week, Binance Chief Executive Changpeng Zhao pleaded guilty to money-laundering violations and agreed to pay a criminal fine of $50 million. Then, his company will pay $4.3 billion to, among other things, settle civil allegations related to sanctions evasion.

Persons: Changpeng Zhao, Benoit Tessier Organizations: Binance

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