Changpeng Zhao | Crypto

One Binance customer said he lost the equivalent of more than $132,000 from the crypto exchange’s derivatives offerings before restrictions were imposed on Binance. Almost 1,700 UK investors are reportedly suing Binance and its founder Changpeng Zhao for 150 million British pounds ($200 million), alleging the crypto exchange offered and sold crypto derivatives without regulatory approval. The law firm representing the investors, KP Law, said Binance’s leverage tokens, futures contracts and options offerings breached the Financial Services and Markets Act 2000 and that these products continued to be offered after the Financial Conduct Authority banned such products from being offered to retail customers in January 2021. “There appeared to be no effective barrier preventing UK customers from accessing them,” the law firm said. Read more

CZ pushed back on claims that Binance fueled October’s historic $19 billion crypto liquidation event, calling allegations against the exchange “far-fetched.” Former Binance CEO Changpeng “CZ” Zhao has pushed back against allegations that the cryptocurrency exchange played a role in the largest liquidation event in crypto history, a sell-off whose effects are still rippling through markets more than three months later. Speaking during a Q&A session on Binance’s social media channels, Zhao denied that Binance was a major contributor to the record wave of forced liquidations on Oct. 10, when roughly $19 billion in positions were wiped out across the crypto market. Zhao described claims that Binance was responsible for the crash as “far-fetched,” according to Bloomberg. Read more

The founder of Binance, Changpeng Zhao, has been granted a pardon by the US President, reports indicated.

YZi Labs has invested further into Ethena to push USDe adoption across more chains and platforms, while also assisting with the development of a new stablecoin. Tech-focused venture capital firm YZi Labs has increased its stake in Ethena, the stablecoin issuer behind USDe, which will assist the digital dollar’s adoption across decentralized and centralized platforms. The investment will assist Ethena USDe’s (USDe) expansion on BNB Chain while enabling Ethena to continue building its USDtb stablecoin and an institutional settlement layer, “Converge,” Changpeng Zhao’s YZi Labs said in a statement on Friday. USDtb is backed by short-duration treasury assets, including BlackRock's BUIDL, while Converge is an Ethereum Virtual Machine-compatible chain focused on tokenizing real-world assets. The move supports YZi’s mission to “support open, scalable digital dollar infrastructures that can serve as a backbone of efficiency and liquidity for the entire financial ecosystem.” Read more

Changpeng Zhao, founder and former CEO of Binance, has pushed back against a recent Wall Street Journal (WSJ) article that claims he is acting as a “fixer” for World Liberty Financial (WLFI), a DeFi venture linked to the Donald Trump family. The WSJ report alleged that Zhao facilitated international introductions for WLFI, including engagements in […] The post Binance’s Changpeng Zhao rebuffs WSJ ‘fixer’ role assertion for Trump-affiliated World Liberty Financial appeared first on CryptoSlate.