Cryptocurrency

United

Bitcoin ETF

<div class="finbold">
 <p class="paragraph">After Changpeng Zhao, the (now former) CEO of cryptocurrency trading platform Binance, pleaded guilty as part of the over $4 billion settlement with the United States regulators to keep the business running, the US Securities and Exchange Commission (SEC) has continued to probe Binance.US.</p>
 <div></div>
 <p class="paragraph">Indeed, the SEC is still looking for evidence that the company and its founder may have a backdoor – similar to that of the crashed crypto exchange FTX – to control assets stored on the Binance.US platform, according to a report on November 27.</p>
 <p class="paragraph">Specifically, at a Monday status conference, Binance.US argued that the SEC could not prove any misuse of the users’ assets and was overstepping while the regulators invoked the major questions doctrine requiring clear congressional authorization for regulatory actions. A joint status <a rel="noopener noreferrer nofollow" title="update" href="https://thebittimes.com/tag/update.html">update</a> is pending until mid-December.</p>
 <h2 class="wp-block-heading" id="h-binance-s-court-troubles">Binance’s court troubles</h2>
 <p class="paragraph">As a reminder, Binance Holdings Limited, the entity operating the world’s largest crypto exchange, pleaded guilty to charges of anti-money laundering, unlicensed money transfer, and sanctions violations on November 21. Furthermore, CZ has also agreed to a $50 million fine, stepped down from his position, and faces prison.</p>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/29/f7010545bb32d2145a4a1c8e6ecd3fd2.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="cristiano-ronaldo-faces-lawsuit-over-promotion-of-binance">Cristiano Ronaldo faces lawsuit over promotion of Binance</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/29/17a89fab3d3d05654830a45a82d964a4.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ripple-ceo-in-disbelief-over-ex-sec-chief-s-crypto-claims">Ripple CEO ‘in disbelief’ over ex-SEC chief’s crypto claims</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/29/326ae6d6ff876c981d7c1363b3e5b9a1.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="chatgpt-predicts-bnb-price-for-the-start-of-2024">ChatGPT predicts BNB price for the start of 2024</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/29/19c2421612618972421fcbe8758ccbef.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="legal-expert-xrp-not-on-list-of-securities-in-sec-s-kraken-lawsuit">Legal expert: XRP not on list of securities in SEC’s Kraken lawsuit</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/29/9d8f369359b1597885bcae807251dadf.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="sec-commissioner-no-reason-to-stand-in-the-way-of-spot-bitcoin-etf">SEC Commissioner: No reason to stand in the way of spot Bitcoin ETF</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Following this news, Binance Coin (BNB) suffered major losses, having dropped 15% as traders demonstrated distrust in the time token of the top crypto exchange. However, it is currently trading at $229.40, recording an increase of 0.38% on the day, as per the latest data on November 29.</p>
 <p class="paragraph">According to JPMorgan (NYSE: JPM) analyst Nikolaos Panigirtzoglou, the settlement was a positive development for both Binance and the broader crypto sector, as it helped remove a systemic risk from a potential Binance crash, as Finbold reported on November 22.</p>
 <p class="paragraph">Meanwhile, football star Cristiano Ronaldo is facing charges over “promotion, assisting, and/or actively participating in the offer and sale of unregistered securities in coordination with Binance” in a lawsuit arguing that several individuals experienced financial losses as a result of this advertising.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-court-case-update-as-of-november-29-tbt72033.html">https://thebittimes.com/binance-court-case-update-as-of-november-29-tbt72033.html</a></p>

Binance court case update as of November 29

Table of Contents

TheBitTimes

Other articles published on Nov 29, 2023

Jack Dorsey’s new mission is to revolutionize Bitcoin mining

Africa’s Crypto Boom: Insights from Cape Town Gathering

Analyst points to imminent signs of spot Bitcoin ETF approval

DCG to End $620 Million Lawsuit With Bankrupt Lender Genesis

THE WEST NFT COLLECTION

Former BitMEX CEO Arthur Hayes Analyzes Binance’s $4.3 Billion Settlement

Join our free newsletter for daily crypto updates!