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Changpeng Zhao, the embattled co-founder of Binance, wants to launch a non-profit educational platform called Giggle Academy.
Zhao had earlier hinted about the project in a cryptic March 18 post on X (formerly Twitter), where he wrote:
“Launching a new project. No, no new tokens. Education project.
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Changpeng Zhao, the once-celebrated founder of cryptocurrency exchange giant Binance, now finds himself tethered to American soil. A court order revoked his travel privileges and has been ordered to surrender his passport.
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Crypto exchange Binance announced discontinuing trading and subscription services for its leveraged token offerings, including Bitcoin, Ethereum, and its BNB Coin, effective Feb. 28.
According to the Feb. 19 statement, the exchange will delist these tokens and halt redemption by April 3.
The sentencing of Binance founder Changpeng Zhao, also known as “CZ,” on a money laundering rule charge has been delayed until April 30, a notice in Seattle federal court disclosed.
This two-month postponement comes after Zhao, a Canadian national and former Binance CEO, pleaded guilty on Nov.
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Binance has regained its position as the world’s most dominant crypto exchange, capturing nearly 50% of the global market share, according to data from Kaiko.
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Binance.US, the United States subsidiary of Binance, the world’s largest crypto exchange by trading volume, continues to face increased scrutiny and operational hurdles in a series of escalating regulatory challenges.
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A redacted court filing has revealed that Binance’s ex-CEO Changpeng ‘CZ’ Zhao was ready to pledge his $4.5 billion stake in Binance US in order to be allowed to leave the US. CZ had asked the court to allow him to depart to the United Arab Emirates (UAE), citing medical reasons for this request.
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