Bitcoin24h $112,818.95-1.69%

Ethereum24h $4,143.12-0.38%

BNB24h $1,233.92-3.52%

XRP24h $2.52-2.52%

Solana24h $204.15+3.52%

Dogecoin24h $0.2047-2.53%

TRON24h $0.3160-1.54%

Cardano24h $0.7020-1.59%

Hyperliquid24h $40.14+0.48%

Chainlink24h $19.21-2.14%

Exploring the similarities between crypto exchanges Binance and FTX

While the civil charges brought by the SEC against Binance and FTX are unique to each business, there are still some striking similarities.

Binance’s French arm says money laundering raid was ‘regulatory obligation’

Since 2019, France has required crypto firms to register with the country’s financial regulator. However, Binance didn’t do this until 2022.

With BUSD’s market cap at $4.5 billion, it looks to be just a matter of time before the former top-three stablecoin vanishes completely.

Binance was indicted by the SEC in June and was accused of commingling funds into accounts at entities run by Binance CEO Changpeng Zhao.

DeFi lender Venus has a plan for a potential major liquidation of BNB made by hackers last year… but dodgy finances plague the protocol.