Bitcoin24h $103,023.82-2.97%

Ethereum24h $3,427.71-4.12%

XRP24h $2.40-5.12%

BNB24h $963.23-3.18%

Solana24h $156.19-6.97%

TRON24h $0.2978+0.67%

Dogecoin24h $0.1729-5.25%

Cardano24h $0.5597-5.93%

Hyperliquid24h $38.84-7.35%

Chainlink24h $15.42-5.95%

Binance ordered to pay $2.7B to CFTC, former chief to pay $150M

Binance will disgorge $1.35B in “ill-gotten transaction fees” and pay $1.35B to the CFTC while CZ will pay a $150M civil monetary penalty.

Binance’s $4.3B penalty hard to beat, CFTC senior official says

Crypto exchange Binance was majorly fined by the CFTC — but a senior commissioner says it should serve as a cautionary tale and not the norm.

The CFTC has racked up 47 cases of crypto related crime in 2023, up from 18 cases last year, with over $4 billion in penalties.

Changpeng Zhao (CZ) has denied the CFTC’s claims that Binance was operating an illegal trading shop… how much longer can he keep this up?

The CFTC has sued Binance and CZ for failure to register, AML failures, illegal derivatives, and allowing US-based people to use it.