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The U.S. Department of Justice shares supervision details over Binance. The document appeared on the DoJ’s website on Dec. 10, 2023. According to the agreement, the supervisory authority will exercise government supervision over the company’s work and its business activities on several key points. This includes a “Statement of Facts” admitted by Binance, a “Compliance Commitment,” and a description of the DoJ’s “Compliance Monitor.” Former U.S. Securities and Exchange Commission (SEC) employee John Reed Stark believes that the requirements of DoJ could spell doom for the embattled crypto exchange. Breaking News: A Binance Double Whammy. 1) Newly Unsealed US DOJ Filings Could Mean the End of Binance; and 2) SEC Files Supplemental Pleading Against Binance, Strengthening the SEC Binance Lawsuit Exponentially There’s been a flurry of newly released Binance-related filings… pic.twitter.com/igN2I9Y7cP — John Reed Stark (@JohnReedStark) December 9, 2023 Stark emphasize...

The Department of Justice (DoJ) is scheduled to publicly disclose a resolution with crypto’s largest exchange Binance following news of a multi-billion settlement and major enforcement actions from regulators. U.S. Attorney General Merrick Garland will reportedly announce a settlement with Binance for nearly $4 billion as a lengthy investigation into suspected fraud, money laundering and terror finance comes to a climax, per Bloomberg. There it is. The big announce ment is the Binance settlement of ~$4 Billion. Courtesy of @allyversprille & team: https://t.co/UcSNu2zlqZ pic.twitter.com/YR3wcPIQPw — James Seyffart (@JSeyff) November 21, 2023 The news comes ahead of a press conference where “separate but related” enforcement actions against crypto would be announced. Rostin Behnam, chair of the Commodity Futures Trading Commission (CFTC), Deputy Attorney General Lisa Monaco and Treasury Secretary Janet Yellen were listed as speakers for this event.  Previously reported...

DoJ and the DeFi Fraud Crackdown According to Damian Williams, the U.S. attorney for the Southern District of New York, Shakeeb, a former security engineer for an international tech company, defrauded the DEX platform about $9 million in cryptocurrency. The 34-year-old was also indicted of wire fraud as he attempted to launder the funds through complex transfers on different blockchains at home and abroad. advertisement Despite his extensive money laundering strategy, Shakeeb was unable to cover his tracks completely as the enforcement team duly tracked the funds that eventually resulted in his arrest. “Shakeeb Ahmed, who was a senior security engineer at an international technology company, used his expertise to defraud the exchange and its users and steal approximately $9 million in cryptocurrency,” Damian Willians said in a statement. “We also allege that he then laundered the stolen funds through a series of complex transfers on the blockch...