U.S. Probe Into Binance Is Now Expanding to Include Insider Trading

On top of suspicions of money laundering.

Tech
3,454 Hypes 2 Comments

Back in May, the U.S. Department of Justice launched a probe into crypto trading platform Binance over suspected money laundering activities, but the probe has just expanded to now also include insider trading.

According to new reports, government officials are now looking into whether Binance has facilitated insider trading as well as market manipulation. While the company hasn’t been accused of any wrongdoing just yet, the Commodity Futures Trading Commission has been questioning potential witnesses about the location of the company’s servers and whether crypto derivatives have been sold to American customers, a practice which usually requires registration. On the other side, both the Internal Revenue Service and the Department of Justice are also looking for signs of money laundering.

In response to these probes, Binance has maintained that no illegal activity has taken place on its platform, with a spokesperson commenting that the exchange had a “zero-tolerance” policy for insider trading coupled with various security guidelines and ethical codes to ensure this doesn’t happen.

Elsewhere in tech, a father-and-son duo are now helping people crack their lost crypto wallets.

Read Full Article

What to Read Next

Crypto Exchange Platform Binance Probed Over Suspected Money Laundering
Tech

Crypto Exchange Platform Binance Probed Over Suspected Money Laundering

Investigated by the U.S. Department of Justice and Internal Revenue Service.

U.S. Banking Organizations Want To Clarify Rules for Certain Crypto Activities
Tech

U.S. Banking Organizations Want To Clarify Rules for Certain Crypto Activities

Including whether or not some activities are legal.

Federal Reserve Chairman Jerome Powell Insists U.S. Won't Ban Cryptocurrencies
Tech

Federal Reserve Chairman Jerome Powell Insists U.S. Won't Ban Cryptocurrencies

When asked if they would follow in China’s footsteps.


The U.S. Has Overtaken China As the Largest Miner of Bitcoin, Data Shows
Tech

The U.S. Has Overtaken China As the Largest Miner of Bitcoin, Data Shows

China accounted for 75% of Bitcoin mining before it began cracking down on crypto.

Manny Pacquiao Is Running for President of the Philippines in 2022
Sports

Manny Pacquiao Is Running for President of the Philippines in 2022

Taking to Twitter to urge his followers to support him in the race.

'Venom: Let There Be Carnage' Reportedly Has an "Epic" Post-Credits Scene
Entertainment

'Venom: Let There Be Carnage' Reportedly Has an "Epic" Post-Credits Scene

Will Spider-Man make an appearance?

The Alchemist Offers Update on New Earl Sweatshirt Album
Music

The Alchemist Offers Update on New Earl Sweatshirt Album

Sweatshirt’s last full-length dates back t0 2018’s ’Some Rap Songs.’

The GORE-TEX-Equipped Nike Pegasus Trail 3 Receives Brown/Volt Makeover
Footwear

The GORE-TEX-Equipped Nike Pegasus Trail 3 Receives Brown/Volt Makeover

Borrowing cues from the original Pegasus.

Watch Daniel Craig's Emotional Speech as He Bids Farewell to 'No Time To Die' Cast
Entertainment

Watch Daniel Craig's Emotional Speech as He Bids Farewell to 'No Time To Die' Cast

Expressing his heartfelt gratitude for his final ride as James Bond.


Lil Baby’s Jeweler Admits To Selling Him Fake Patek Philippe Watch by Mistake
Watches

Lil Baby’s Jeweler Admits To Selling Him Fake Patek Philippe Watch by Mistake

Rafaello and Co. apologized for not vetting the products properly before selling them.

Drake's 'Certified Lover Boy' Logs Second Week at No. 1 on Billboard 200
Music

Drake's 'Certified Lover Boy' Logs Second Week at No. 1 on Billboard 200

Baby Keem, Kanye West and more also appear on this week’s top 10.

Here Are All the Winners of the 2021 Emmy Awards
Entertainment

Here Are All the Winners of the 2021 Emmy Awards

The night’s big winners include Jason Sudeikis, ‘The Crown’ and ‘Mare of Easttown.’

Netflix Drops Official Trailer for 'You' Season Three
Entertainment

Netflix Drops Official Trailer for 'You' Season Three

Premiering October 15.

Afew Goods Presents 'The Sandlot'-Inspired Collection
Fashion

Afew Goods Presents 'The Sandlot'-Inspired Collection

Featuring t-shirts, a baseball shirt and a baseball cap.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.