Binance co-founder Zhao set to keep on growing his $33 billion fortune even as he heads to prison for four months
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MUMBAI: India's Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees (US$2.25 million) on the world's largest crypto exchange, Binance, for operating in the country in violation of local anti-money laundering regulations.
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LONDON: Crypto exchange Binance on Wednesday (Jun 6) sought to throw out the vast majority of a London lawsuit worth up to £10 billion (US$12.8 billion) over claims it and other exchanges colluded to "delist" the Bitcoin Satoshi Vision (BSV) cryptocurrency.
Binance's billionaire founder Changpeng Zhao has reported to a low-security federal prison in Lompoc, California. CNBC reached out to Zhao's defense team at Latham & Watkins to confirm that the former crypto chief is now in custody.
Watch Daily: Monday - Friday, 3 PM ET
Watch Daily: Monday - Friday, 3 PM ET
SEATTLE (Reuters) -- Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating U.S. money-laundering laws at the world's largest cryptocurrency exchange.