penalties

Can Richard Teng Lead Binance Post CZ’s Exit Amidst Regulatory Hurdles? 💛

#RichardTeng took over as CEO of Binance after Changpeng Zhao's settlement with the US Department of Justice, pledging to drive growth and uphold a user-centric approach.

Amid uncertainties about managing Binance's operations post-Zhao, Teng aims to navigate #regulatory oversight.

Despite concerns, within 24 hours of the settlement, no significant fund withdrawals occurred, with Binance's holdings surpassing $65 billion.

Zhao's guilty plea involves a $150 million payment, while Binance faces around $4.3 billion in #penalties . Teng, now at the helm, faces the challenge of leading Binance amidst evolving regulatory landscapes.

#Binance
#crypto2023

❗️SEC fined Moody's, S&P, Fitch and 3 other rating agencies $49 million

Six rating agencies have agreed to pay a total of more than $49 million in civil penalties to settle allegations by the U.S. Securities and Exchange Commission of recordkeeping violations.

The firms admitted to material violations by firms and staff of rules for maintaining and preserving electronic communications.
#penalties #CryptoMarketMoves