Binance#BNB

File:5 years birthday Binance cake in Paris - 2022-07-08.jpg

CEO Changpeng Zhao founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for stockbrokers. In 2013, he joined Blockchain.info as the third member of the cryptocurrency wallet's team. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets.{{Cite news |last=Ambler |first=Pamela |date=7 February 2018 |title=From Zero To Crypto Billionaire In Under A Year: Meet The Founder Of Binance |work=Forbes |url=https://www.forbes.com/sites/pamelaambler/2018/02/07/changpeng-zhao-binance-exchange-crypto-cryptocurrency/#390a79b81eee}} He was hired at this position in 2014 by Yi He, with whom he co-founded Binance several years later.{{Cite Q|Q120053402|access-date=2023-06-28}}

The company was founded in 2017 in China but moved its servers and headquarters out of the country in advance of the Chinese government's ban on cryptocurrency trading in September 2017.{{Cite news |last=Xiao |first=Eva |date=30 November 2017 |title=Three months after launch, this unbanked crypto exchange made $7.5m in profit |work=Tech in Asia |url=https://www.techinasia.com/cryptocurrency-exchange-binance}} Zhao asked He to join Binance, and she helped rewrite parts of the white paper for Binance's $15 million initial coin offering.

In January 2018 it was the largest cryptocurrency exchange with a market capitalization of $1.3 billion,{{Cite news |last1=Nakamura |first1=Yuji |last2=Lun |first2=Haidi |date=2018-01-11 |title=World's Top-Ranked Crypto Exchange Adds 240,000 Users in One Hour |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2018-01-11/world-s-top-ranked-crypto-venue-added-240-000-users-in-one-hour |access-date=2018-03-08}} a title it had retained as late as April 2021, despite competition from Coinbase, among others.{{Cite news |last1=de la Merced |first1=Michael J. |last2=Karaian |first2=Jason |date=2021-04-15 |title=What's next for Coinbase? |language=en-US |work=The New York Times |url=https://www.nytimes.com/2021/04/15/business/coinbase-market-debut.html |access-date=2021-05-12 |issn=0362-4331}} In March 2018, Binance announced its intentions to open an office in Malta after stricter regulations in Japan and China.{{Cite news |last=Nakamura |first=Yuji |date=2018-03-23 |title=World's Biggest Cryptocurrency Exchange Is Heading to Malta |language=en |agency=Bloomberg |url=https://www.bloomberg.com/news/articles/2018-03-23/the-world-s-biggest-cryptocurrency-exchange-is-moving-to-malta |access-date=2018-03-24}} In April 2018, Binance signed a memorandum of understanding with the government of Bermuda.{{Cite news |date=2018-04-27 |title=The Continuing Development Of A Fintech Ecosystem For Bermuda |work=Ber News |url=http://cloudfront.bernews.com/wp-content/uploads/2018/06/MEMORANDUM-OF-UNDERSTANDING-Binance.pdf |url-status=live |access-date=2021-02-04 |archive-url=https://web.archive.org/web/20190119122124/http://cloudfront.bernews.com/wp-content/uploads/2018/06/MEMORANDUM-OF-UNDERSTANDING-Binance.pdf |archive-date=2019-01-19}} Months later, a similar memorandum was signed with the Malta Stock Exchange to develop a platform for trading security tokens.{{Cite web |last=plc |first=Malta Stock Exchange |title=MSE and Binance sign MoU |url=https://borzamalta.com.mt/article-mse-binance-mou |url-status=dead |archive-url=https://web.archive.org/web/20190119174609/https://borzamalta.com.mt/article-mse-binance-mou |archive-date=19 January 2019 |access-date=19 January 2019 |website=Malta Stock Exchange}} In 2019, the company announced Binance Jersey, a Jersey-based exchange which offers fiat-to-cryptocurrency pairs, including the Euro and the British pound.{{Cite news |date=2018-06-11 |title=Crypto Giant Binance to Offer Euro Trading Pairs This Year |language=en |agency=Bloomberg |url=https://www.bloomberg.com/news/articles/2018-06-11/crypto-giant-binance-to-offer-euro-trading-pairs-this-year |access-date=2018-06-14}}

In June 2018, Binance and three other firms raised $65 million for sports blockchain company Chiliz.{{Cite news |date=2018-06-08 |title=chiliZ raises $65 million from Binance, other organisations - Esports Insider |language=en-GB |work=Esportsinsider |url=https://esportsinsider.com/2018/06/chiliz-binance-65-million |access-date=2023-02-19}} In July 2018, Binance acquired Trust Wallet, a decentralized cryptocurrency wallet for an undisclosed sum composed of a mixture of cash, Binance stock, and BNB tokens.{{Cite web |last=Russell |first=Jon |date=31 July 2018 |title=Crypto exchange Binance buys Trust Wallet in first acquisition deal |url=https://techcrunch.com/2018/07/31/crypto-exchange-binance-buys-trust-wallet-in-first-acquisition-deal/}} In August 2018, Binance along with three other large exchanges raised $32 million to fund the stablecoin project Terra. This was intended to facilitate cryptocurrency transactions with less volatility.{{Cite news |title=Binance and Other Crypto Exchanges Back $32 Million Stable Coin Project |language=en |work=Fortune |url=http://fortune.com/2018/08/29/cryptocurrency-exchanges-back-32-million-stable-coin-project/ |url-status=dead |access-date=2018-08-30 |archive-url=https://web.archive.org/web/20180829194927/http://fortune.com/2018/08/29/cryptocurrency-exchanges-back-32-million-stable-coin-project/ |archive-date=29 August 2018}}

In January 2019, Binance announced that it had partnered with Israel-based payment processor Simplex to enable some cryptocurrencies to be purchased with debit and credit cards.{{Cite web |last=Russell |first=Jon |date=31 January 2019 |title=Binance now lets users buy crypto with a credit card |url=https://techcrunch.com/2019/01/31/binance-credit-card-visa-mastercard/ |access-date=31 January 2019 |website=TechCrunch}} On 7 May 2019, Binance revealed that it had been the victim of a "large scale security breach" in which hackers had stolen 7,000 bitcoin worth around $40 million at the time.{{Cite web |last=Kharpal |first=Arjun |date=8 May 2019 |title=Binance bitcoin hack: Over $40 million of cryptocurrency stolen |url=https://www.cnbc.com/2019/05/08/binance-bitcoin-hack-over-40-million-of-cryptocurrency-stolen.html |access-date=8 May 2019 |publisher=CNBC |language=en}}{{Cite web |last=Valinsky |first=Jordan |date=8 May 2019 |title=Hackers steal $40 million worth of bitcoin in massive security breach |url=https://www.cnn.com/2019/05/08/tech/bitcoin-binance-hack/index.html |access-date=8 May 2019 |publisher=CNN}} Binance halted all transactions for one week while investigating. Binance also pledged to reimburse customers from an emergency fund.{{Cite web |last=Stewart |first=Emily |date=2019-05-08 |title=If bitcoin is so safe, why does it keep getting hacked? |url=https://www.vox.com/recode/2019/5/8/18537073/binance-hack-bitcoin-stolen-blockchain-security-safu |access-date=2021-05-12 |website=Vox |language=en}}{{Cite web |last=Thompson |first=Luke |date=2019-05-08 |title=Binance offers full refund after $40m hack |url=https://asiatimes.com/2019/05/binance-offers-full-refund-after-40m-hack/ |access-date=2021-05-12 |website=Asia Times |language=en-US |quote=The exchange continued to state that all transactions have been suspended while the investigation continues and that stolen funds will be reimbursed in full.}}{{cite news |last1=Dillet |first1=Romain |title=Binance resumes trading following $40M bitcoin hack |url=https://techcrunch.com/2019/05/15/binance-resumes-trading-following-40m-bitcoin-hack/ |access-date=13 May 2025 |work=TechCrunch |date=15 May 2019}}

In June 2019, the company announced it would prohibit US passport holders as well as anyone residing in the US, and would set up a new entity binance.us to support those customers.{{Cite web |title=Binance begins to restrict US users ahead of regulatory-compliant exchange launch |url=https://techcrunch.com/2019/06/14/binance-begins-to-restrict-us-customers/ |access-date=2023-11-06 |website=TechCrunch |date=14 June 2019 |language=en}} Later in 2023, Forbes leaked a document allegedly from Binance titled "TaiChi" that proposed this regulatory solution to reduce US regulatory risk.{{Cite web |title=Leaked 'Tai Chi' Document Reveals Binance's Elaborate Scheme To Evade Bitcoin Regulators |url=https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/leaked-tai-chi-document-reveals-binances-elaborate-scheme-to-evade-bitcoin-regulators/ |access-date=2023-11-06 |website=Forbes |language=en}} Binance subsequently denied the document, sued Forbes for defamation, and subsequently dropped the lawsuit.{{Cite magazine |title=Crypto's Richest Man Is Waiting Out the Chaos |url=https://www.rollingstone.com/culture/culture-features/changpeng-zhao-cz-crypto-binance-1234740435/ |access-date=2023-11-06 |magazine=Rolling Stone|date=3 June 2023 |language=en}} In September 2019, the exchange began offering perpetual futures contracts, allowing leverage as high as 125 times the value of the contracts.{{Cite news |date=2019-10-22 |title=Bitcoin Speculators Gain Upper Hand as Derivative Trading Surges |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2019-10-22/bitcoin-speculators-gain-upper-hand-as-derivative-trading-surges |access-date=2021-01-21}} In November 2019, Binance announced it was acquiring Indian bitcoin exchange WazirX, which became disputed in August 2022 when Binance founder Zhao claimed the deal was never signed.{{Cite web |title=Disputed claims over acquisition announcement between WazirX and Binance |url=https://insiderapps.com/news/disputed-claims-over-acquisition-announcement-between-wazirx-and-binance |access-date=2022-08-12 |website=Insider Apps |language=en}}

On 21 February 2020, the Malta Financial Services Authority (MFSA) issued a public statement responding to media reports referring to Binance as a Malta-based cryptocurrency company. The statement noted that Binance "is not authorized by the MFSA to operate in the cryptocurrency sphere and is therefore not subject to regulatory oversight by the MFSA." The MFSA added that it was "assessing if Binance has any activities in Malta which may not fall within the realm of regulatory oversight."{{Cite web |date=21 February 2020 |title=Public Statement |url=https://www.mfsa.mt/news-item/public-statement-2020/ |url-status=live |archive-url=https://web.archive.org/web/20200221185738/https://www.mfsa.mt/news-item/public-statement-2020/ |archive-date=21 February 2020 |access-date=26 February 2020 |publisher=Malta Financial Services Authority}} In July 2020, Binance announced a "strategic partnership" with a Chinese state-owned enterprise under the State-owned Assets Supervision and Administration Commission of the State Council and that Binance had joined a group "aiming to facilitate" the Belt and Road Initiative.{{Cite news |last=Qu |first=Tracy |date=2020-07-20 |title=Covid-19 has been 'net positive' for cryptocurrencies, Binance founder says |language=en |work=South China Morning Post |url=https://www.scmp.com/tech/tech-leaders-and-founders/article/3093903/covid-19-net-positive-cryptocurrencies-performance |access-date=2023-02-18}}{{Cite news |date=3 July 2020 |title=Binance forges China supply-chain partnership |work=Asia Times |url=https://asiatimes.com/2020/07/binance-forges-china-supply-chain-partnership/ |access-date=18 February 2023}} On 28 October 2020, Forbes staff released leaked documents showing that Binance and its CEO, Changpeng Zhao, created an elaborate corporate structure designed to intentionally deceive United States regulators and secretly profit from cryptocurrency investors located in the country.{{Cite news |date=2020-10-28 |title=Leaked 'Tai Chi' Document Reveals Binance's Elaborate Scheme To Evade Bitcoin Regulators |work=Forbes |url=https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/leaked-tai-chi-document-reveals-binances-elaborate-scheme-to-evade-bitcoin-regulators/ |access-date=2020-10-30}} Binance officially blocks access from IP addresses located in the United States, but "potential customers would be taught how to evade geographic restrictions", Forbes claimed.

In May 2021, it was reported that Binance was under investigation by both the Internal Revenue Service and the United States Department of Justice on allegations of money laundering and tax offenses. In February 2022, Binance took a $200 million stake in Forbes.{{Cite news |date=10 February 2022 |title=Crypto exchange Binance to take $200m stake in Forbes |publisher=BBC News |url=https://www.bbc.com/news/business-60339561}} It's unclear if this investment was ever completed. In May 2022, Forbes Global Media Holdings halted plans to go public via a merger with Magnum Opus Acquisition Ltd, a Hong Kong-based special-purpose acquisition company.{{Cite web |last1=Hirsch |first1=Lauren |last2=Mullin |first2=Benjamin |date=31 May 2022 |title=Forbes, Chronicler of Wealthy and Powerful, Will Scrap Plan to Go Public via SPAC |url=https://www.nytimes.com/2022/05/31/business/media/forbes-public-spac-deal.html |access-date=7 May 2023 |website=The New York Times}} Zhao said the plan had "changed a little bit, but I believe that's still in discussions."{{Cite web |last1=Nicolle |first1=Emily |last2=Lacqua |first2=Francine |last3=Mackenzie |first3=Tom |date=16 June 2022 |title=Binance's $200 Million Forbes Deal is 'Changing,' CEO Zhao Says |url=https://www.bloomberg.com/news/articles/2022-06-16/binance-s-200-million-forbes-deal-is-changing-ceo-zhao-says |access-date=7 May 2023 |website=Bloomberg L.P. |language=en}} In February 2023, Zhao tweeted his disappointment that Forbes "continues to write baseless articles" about Binance.{{Cite tweet |number=1630466341978136578 |user=cz_binance |title=I am deeply disappointed that Forbes continues to write baseless articles, losing their own credibility. 9/9 |author=CZ 🔶 Binance |date=28 February 2023 |access-date=22 May 2023 |language=en |archive-url=https://web.archive.org/web/20230318032340/https://twitter.com/cz_binance/status/1630466341978136578 |archive-date=18 March 2023 |url-status=live}} In March 2022, amidst the 2022 Russian invasion of Ukraine, Zhao refused to ban users from Russia, citing "financial freedom".{{Cite news |date=2 March 2022 |title=Ukraine crisis: Crypto exchange boss rejects Russian user ban |work=BBC News |agency=BBC News |url=https://www.bbc.com/news/technology-60576373}} Binance later softened the tone of their opposition but not their policy, and also pointed to their donation of $10 million for humanitarian needs in Ukraine.{{Cite news |title=How the Ukraine conflict became a turning point for cryptocurrency |language=en |publisher=NBC News |url=https://www.nbcnews.com/tech/crypto/ukraine-conflict-became-turning-point-cryptocurrency-rcna18705 |access-date=2022-03-07}}

Over 2022, Reuters released several investigative reports on Binance. In January, Reuters documented multiple instances where Binance had withheld information from government investigators and business partners and had ignored warnings from their own compliance teams regarding money laundering risks and poor know your customer compliance. Binance disputed the accuracy of this report.{{cite news |last1=Berwick |first1=Angus |last2=Wilson |first2=Tom |title=Crypto giant Binance kept weak money-laundering checks even as it promised tougher compliance, documents show |url=https://www.reuters.com/investigates/special-report/finance-crypto-currency-binance/ |access-date=15 May 2024 |work=Reuters |date=21 January 2022}} In June, Reuters found that Binance had acted as a conduit for the laundering of at least $2.35 billion from hacks, $780 million dollars laundered from the Russian darknet market Hydra, and €800 million from investment scams. The report also found that Binance had been used by the Lazarus Group to launder funds stolen by North Korea to support its weapons program. Binance dispute these findings.{{cite news |last1=Berwick |first1=Angus |last2=Wilson |first2=Tom |title=How crypto giant Binance became a hub for hackers, fraudsters and drug traffickers |url=https://www.reuters.com/investigates/special-report/fintech-crypto-binance-dirtymoney/ |access-date=15 May 2024 |work=Reuters |date=6 June 2022}} In April, Reuters reported that, in 2021, Binance shared information with Rosfinmonitoring about funds raised by late Russian opposition leader Alexei Navalny's network.{{Cite news |last1=Berwick |first1=Angus |last2=Wilson |first2=Tom |date=2022-04-22 |title=Special Report: How crypto giant Binance built ties to a Russian FSB-linked agency |language=en |publisher=Reuters |url=https://www.reuters.com/technology/how-crypto-giant-binance-built-ties-russian-fsb-linked-agency-2022-04-22/ |access-date=2022-04-22}}{{Cite news |date=2024-02-16 |title=What we know about Alexei Navalny's death in Arctic Circle prison |url=https://www.bbc.com/news/world-europe-68318742 |access-date=2024-04-09 |language=en-GB}}

In March 2023, the exchange banned Russian residents from buying euros and dollars through its p2p service. In turn, European users lost the ability to buy rubles.{{Cite web |date=2023-03-14 |title=BINANCE RESTRICTS P2P TRADING FOR RUSSIAN USERS |url=https://financefeeds.com/binance-restricts-p2p-trading-for-russian-users/ |website=financefeeds.com}} In September 2023, Binance announced it was leaving Russia and selling its business to the CommEX platform, which had been launched the previous week.{{Cite web|url=https://www.rbc.ru/crypto/news/6513e3749a79474f7da2bcf0|title=Биржа Binance объявила об уходе из России и продаже российского бизнеса|language=ru|date=2023-09-27|website=RBK}}{{cite news |title=Binance to sell Russia business for undisclosed amount |url=https://www.reuters.com/markets/deals/binance-says-sell-russia-business-commex-2023-09-27/ |access-date=10 May 2024 |work=Reuters.com |date=29 September 2023}} Binance accounts of Russian users were able to transfer to the new platform until March 2024. CommEX shut down on 10 May 2024.{{cite news |last1=Pan |first1=David |title=Binance Russian Successor Exchange CommEX Plans to Shut Down |url=https://news.bloomberglaw.com/crypto/binance-russian-successor-exchange-commex-plans-to-shut-down |access-date=10 May 2024 |work=Bloomberg Law |date=25 March 2024 |language=en |url-access=subscription}} On 27 May 2022, Binance announced the registration of its legal entity in Italy and plans to open offices in the country. At the time, the company was also seeking registration in more European countries, such as Switzerland, Sweden, Spain, Netherlands, Portugal, and Austria.{{Cite news |date=2022-05-27 |title=Binance registers with Italy's regulator amid plans to expand in Europe |url=https://www.reuters.com/markets/us/binance-registers-with-italys-regulator-amid-plans-expand-europe-2022-05-27/ |access-date=2022-05-29 |work=Reuters |language=en}} Binance registered to operate in Spain in July 2022,{{cite news |last1= |first1= |date=July 8, 2022 |title=Bank of Spain includes Binance in its crypto registry |url=https://www.reuters.com/technology/bank-spain-includes-binance-its-crypto-registry-2022-07-08/ |access-date=November 14, 2023 |work=Reuters}} and in Sweden in January 2023.{{cite news |last1= |first1= |date=January 12, 2023 |title=Crypto exchange Binance registers in Sweden |url=https://www.reuters.com/markets/currencies/crypto-exchange-binance-registers-sweden-2023-01-12/ |access-date=November 14, 2023 |work=Reuters}}{{Cite news |date=2022-05-27 |title=Binance registers with Italy's regulator amid plans to expand in Europe |language=en |work=Reuters |url=https://www.reuters.com/markets/us/binance-registers-with-italys-regulator-amid-plans-expand-europe-2022-05-27/ |access-date=2022-05-29}} On 13 June 2022, Binance announced that for an unspecified period of time users would not be unable to withdraw their funds held in bitcoin, as the value of cryptocurrencies suffered serious declines.{{Cite news |last=Griffin |first=Andrew |date=2022-06-13 |title=Crypto exchange Binance blocks bitcoin withdrawals amid market collapse |language=en |work=Independent |url=https://www.independent.co.uk/tech/binance-bitcoin-crypto-exchange-withdrawal-latest-b2099726.html}} Bitcoin withdrawals were allowed to resume later the same day.{{cite news |last1=Brooks |first1=Khristopher J. |title=Cryptocurrency prices plunge as major exchanges halt trading |url=https://www.cbsnews.com/news/celsius-binance-bitcoin-trading-pause-cryptocurrency-prices/ |access-date=30 April 2025 |work=Moneywatch |publisher=CBS News |date=13 June 2022}}

Binance sponsored the Africa Cup of Nations in 2021.{{Cite news |last=Endurance |first=Okafor |date=2022-01-13 |title=Binance becomes official sponsor of 2021 TotalEnergies Africa Cup of Nations |language=en-US |work=Businessday NG |url=https://businessday.ng/news/article/binance-becomes-official-sponsor-of-2021-totalenergies-africa-cup-of-nations/ |access-date=2022-10-11}}{{Cite web |title=Binance Has Deal to Become Crypto Sponsor of Africa Cup of Nations Soccer Tournament |url=https://www.sporttechie.com/binance-has-deal-to-become-crypto-sponsor-of-africa-cup-of-nations-soccer-tournament |access-date=2022-10-11 |website=www.sporttechie.com |date=11 January 2022 |language=en}} It is also taking crypto education to many countries on the continent.{{Cite web |last=Nnamani |first=Caleb |date=2022-09-21 |title=Binance is touring francophone Africa with crypto education |url=https://techcabal.com/2022/09/21/binance-goes-on-francophone-africa-tour-to-drive-crypto-education/ |access-date=2022-10-11 |website=TechCabal |language=en-US}} Binance invested US$500 million towards the acquisition of Twitter by Elon Musk that completed in October 2022. Following the investment, the company announced the creation of a team to work on how blockchain and cryptocurrencies could be helpful to Twitter.{{Cite news |last=Hu |first=Krystal |date=2022-10-28 |title=Crypto exchange Binance, Musk's co-investor, to help Twitter with blockchain |work=Reuters |url=https://www.reuters.com/technology/crypto-exchange-binance-musks-co-investor-help-twitter-with-blockchain-2022-10-28/}}{{Cite news |last=Kowsmann |first=Patricia |date=2022-10-28 |title=Crypto Exchange Binance Confirms $500 Million Investment in Elon Musk's Twitter |work=The Wall Street Journal |url=https://www.wsj.com/livecoverage/stock-market-news-today-10-28-2022/card/crypto-exchange-binance-confirms-500-million-investment-in-elon-musk-s-twitter-bLlWCMtnGoarYUghZuwg}} On 8 November 2022, Binance offered to buy rival cryptocurrency exchange FTX's non-US operations (FTX.com) to help cover the latter's liquidity crunch.{{Cite news |last1=Yang |first1=Yueqi |last2=Kharif |first2=Olga |date=2022-11-08 |title=CZ's Binance to Buy Rival FTX After Sam Bankman-Fried Faces Liquidity Crunch |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2022-11-08/crypto-exchange-binance-to-buy-rival-ftx-com-terms-undisclosed |url-access=limited}}{{Cite news |last=Sigalos |first=MacKenzie |date=2022-11-08 |title=Binance offers to buy FTX's non-U.S. operations to fix 'liquidity crunch' |work=CNBC |url=https://www.cnbc.com/2022/11/08/binance-offers-to-buy-ftxs-non-us-operations-to-fix-liquidity-crunch.html}} Binance backed out of the deal the next day citing concerns about FTX's business practices and investigations by US financial regulators.{{Cite news |last1=Sigalos |first1=MacKenzie |last2=Rooney |first2=Kate |date=2022-11-09 |title=Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse |work=CNBC |url=https://www.cnbc.com/2022/11/09/binance-backs-out-of-ftx-rescue-leaving-the-crypto-exchange-on-the-brink-of-collapse.html}} On 30 November 2022, Binance purchased Sakura Exchange. The acquisition allowed Binance to re-enter the Japanese cryptocurrency market.{{Cite news |date=30 November 2022 |title=Binance re-enters Japanese crypto market with Sakura Exchange acquisition |work=Financial Times |url=https://www.ft.com/content/a9e93da3-80d1-4de1-b1a4-8fc70bc1a549}}{{Cite news |date=30 November 2022 |title=Binance enters Japanese market with Sakura Exchange BitCoin deal |work=Reuters |url=https://www.reuters.com/technology/binance-enters-japanese-market-with-sakura-exchange-bitcoin-deal-2022-11-30/ |via=www.reuters.com}}

In July 2023, several senior executives resigned from the company.{{Cite web |last1=Wilson |first1=Tom |last2=Shekhawat |first2=Jaiveer |last3=Wilson |first3=Tom |date=7 July 2023 |title=Crypto exchange Binance hit by executive exodus |url=https://www.reuters.com/technology/binances-chief-strategy-officer-patrick-hillman-quits-tweet-2023-07-06/ |access-date=23 July 2023 |website=Reuters |language=en}} The Wall Street Journal reported that Binance had cut its global workforce by as many as 1,000 staff.{{Cite web |last1=Ostroff |first1=Caitlin |last2=Kowsmann |first2=Patricia |date=17 July 2023 |title=Binance Cuts Back Employee Benefits, Citing Decline in Profit |url=https://www.wsj.com/articles/binance-cuts-back-employee-benefits-citing-decline-in-profit-51d51cf7 |access-date=23 July 2023 |website=Wall Street Journal}} CNBC reported that the number of staff cuts could total 3,000 by the end of 2023.{{Cite web |last=Goswami |first=Rohan |date=14 July 2023 |title=Binance could lay off thousands as company buckles down for DOJ probe, source says |url=https://www.cnbc.com/2023/07/14/binance-could-lay-off-thousands-in-response-to-doj-probe-source.html |access-date=23 July 2023 |website=CNBC |language=en}} Zhao did not deny layoffs were occurring but claimed both the reported numbers and the reasons for the senior executive departures were not accurate. In June 2023, Binance had 790 million US dollars in outflows after the SEC announced its lawsuit and Forbes reported that the company had 120 million users globally.{{Cite web |last=Hamilton |first=Katherine |date=6 June 2023 |title=Binance Out $790 Million As Investors Move Assets After SEC Lawsuit, Research Firm Reports |url=https://www.forbes.com/sites/katherinehamilton/2023/06/06/binance-out-790-million-as-investors-move-assets-after-sec-lawsuit-research-firm-reports/?sh=47a9243a4302 |access-date=6 September 2023 |website=Forbes |language=en}} On 21 November 2023, a US judge convicted Binance on multiple charges—including violations of the Bank Secrecy Act, money laundering schemes, unlicensed money transmitting, and sanctions violations. As part of the plea deal, the company agreed to pay $4 billion in fines, and Changpeng Zhao stepped down as CEO with a $50 million fine. Zhao was succeeded by Richard Teng.{{cite news |last1=Palma |first1=Stefania |last2=Chipolina |first2=Scott |title=Binance chief resigns as crypto exchange pays $4bn in fines |url=https://www.ft.com/content/d10af983-1376-457f-9709-815e04ba59fb |access-date=22 November 2023 |agency=Financial Times |publisher=Financial Times |date=2023-11-21 |archive-date=22 November 2023 |archive-url=https://archive.today/20231122084628/https://www.ft.com/content/d10af983-1376-457f-9709-815e04ba59fb |url-status=bot: unknown }}

According to a 2024 report in The Wall Street Journal covering 2023, Binance fired several members of its internal investigation team who were tasked with investigating market manipulation such as pump and dump schemes and wash trading. According to The Wall Street Journal, an internal investigation within Binance found that a VIP client of the company, a trading and investment firm named DWF Labs, had previously advertised its ability to manipulate the market by generating "believable" artificial volume to increase the price of tokens. The investigation also found examples of DWF selling tokens its founder had promoted causing a crash in those token's price, which is consistent with a pump and dump scheme, and is against Binanace's terms of service. In response to this report, Binance fired the investigators and retained DWF as a client, saying that the self trading could have been accidental and that the internal team collaborated too closely with one of DWF's competitors. Binance has denied any wrongdoing.{{cite news |last1=Berwick |first1=Angus |last2=Elaine |first2=Yu |title=Binance Pledged to Thwart Suspicious Trading—Until It Involved a Lamborghini-Loving High Roller |url=https://www.msn.com/en-us/money/news/binance-pledged-to-thwart-suspicious-trading-until-it-involved-a-lamborghini-loving-high-roller/ar-BB1m5vDa |access-date=10 May 2024 |work=The Wall Street Journal |date=9 May 2024 |via=MSN.com}}

According to a 2024 study by John Griffin, a finance professor at the University of Texas at Austin, Binance is the most popular exchange used in pig butchering scams.{{cite news |last1=Faux |first1=Zeke |title=$75 Billion Lost to Pig-Butchering Scam, New Study Estimates |url=https://fortune.com/2024/02/29/pig-butchering-crypto-scams-nab-over-75-billion-use-tether-binance-says-study/|access-date=15 May 2024 |work=Bloomberg |via=Fortune |date=1 March 2024 |language=en}}{{cite journal |last1=Griffin |first1=John M. |last2=Mei |first2=Kevin |title=How Do Crypto Flows Finance Slavery? The Economics of Pig Butchering |journal=SSRN Electronic Journal |date=2024 |doi=10.2139/ssrn.4742235 |language=en |issn=1556-5068}} Binance has occasionally cooperated with US law enforcement to return money lost in such scams.{{cite news |last1=Farivar |first1=Cyrus |title='Pig Butchering' Crypto Scam Victim To Get Money Back From Binance, Law Enforcement Says |url=https://www.forbes.com/sites/cyrusfarivar/2022/07/01/pig-butchering-crypto-scam-victim-to-get-money-back-from-binance-law-enforcement-says/?sh=3aa22e215ecd |access-date=15 May 2024 |work=Forbes |date=1 July 2022 |language=en|quote=However, when Forbes followed up and asked for specific instances where Binance had complied with seizure warrants, it declined to do so.}}{{cite news |last1=Schwartz |first1=Leo |title=Beware of pig butchering. Romance and investment crypto scams are on the rise, says Binance |url=https://fortune.com/crypto/2023/08/23/pig-butchering-scam-binance-fbi-crypto/ |access-date=15 May 2024 |work=Fortune Crypto |date=23 August 2023 |language=en}}{{cite news |last1=Toulas |first1=Bill |title=US moves to recover $2.3 million from "pig butchers" on Binance |url=https://www.bleepingcomputer.com/news/cryptocurrency/us-moves-to-recover-23-million-from-pig-butchers-on-binance/ |access-date=15 May 2024 |work=BleepingComputer |date=15 March 2024 |language=en-us}} In November 2024, FTX filed a lawsuit against Binance Holdings Ltd., Zhao, and other Binance executives, seeking to recover nearly $1.8 billion that FTX alleges was fraudulently transferred. The case centers on a July 2021 stock repurchase transaction in which Binance sold its stakes—approximately 20% of FTX's international unit and 18.4% of its US-based entity—to FTX co-founder Sam Bankman-Fried.{{Cite news |last=Nicolle |first=Emily |title=FTX Sues Binance, Former CEO Zhao Seeking $1.8 Billion Clawback |url=https://www.bloomberg.com/news/articles/2024-11-11/ftx-sues-binance-former-ceo-zhao-seeking-1-8-billion-clawback |access-date=2024-11-11 |work= Bloomberg}} The lawsuit is one of many filed by FTX against its former investors, affiliates and clients in the bankruptcy court of Delaware. Other defendants include former White House communications officer Anthony Scaramucci, digital-asset exchange Crypto.com and political groups such as the Mark Zuckerberg-founded FWD.US. Nigerian authorities filed a lawsuit suing Binance for $81.5 billion for economic losses and back taxes, alleging the company has a significant presence in the country (despite not being registered), and is therefore liable for corporate income tax.{{Cite web |last=Eboh |first=Camillus |date=2025-02-19 |title=Nigeria suing Binance for $81.5 billion in economic losses and back tax |url=https://www.reuters.com/world/africa/nigeria-seeks-815-bln-economic-losses-back-tax-against-binance-court-document-2025-02-19/ |access-date=2025-02-19 |website=Reuters}}

In March 2025, The Wall Street Journal reported that the family of Donald Trump through World Liberty Financial had entered into talks with Binance to acquire a stake in the US arm of the business. This coincided with a push from Zhao to receive a presidential pardon for his felony conviction. According to unnamed sources cited by the Wall Street Journal, Trump advisor Steve Witkoff was involved, although his office denied this. According to the Wall Street Journal, a pardon from President Trump would simplify a revival of Binance's presence in the US.{{cite news |last1=Ballhaus |first1=Rebecca |last2=Kowsmann |first2=Patricia |last3=Berwick |first3=Angus |last4=Dawsey |first4=Josh |last5=Ostroff |first5=Caitlin |title=Trump Family Has Held Deal Talks With Binance Following Crypto Exchange’s Guilty Plea |url=https://www.wsj.com/finance/currencies/trump-family-has-held-deal-talks-with-binance-following-crypto-exchanges-guilty-plea-05b029fa |access-date=29 March 2025 |work=Wall Street Journal |date=13 March 2025 |archive-url=https://archive.today/20250313130152/https://www.wsj.com/finance/currencies/trump-family-has-held-deal-talks-with-binance-following-crypto-exchanges-guilty-plea-05b029fa |archive-date=13 March 2025}}{{cite news |last1=Faux |first1=Zeke |last2=Muyao |first2=Shen |last3=Kocieniewski |first3=David |last4=Cormier |first4=Anthony |title=Trump Crypto Venture Has Talked to Binance About Doing Business |url=https://www.msn.com/en-us/money/companies/trump-crypto-venture-has-talked-to-binance-about-doing-business/ar-AA1ARdnX |access-date=29 March 2025 |work=Bloomberg |via=msn.com|date=13 March 2025}} On March 12 2025, it was announced that the Abu Dhabi government-backed investment fund MGX Fund Management Limited had made a minority $2 billion investment in Binance.{{cite news |last1=Howcroft |first1=Elizabeth |last2=Maccioni|first2=Federico |last3=|first3=|last4=|first4=|last5=|first5=|title=Abu Dhabi-backed investor buys into Binance with $2 bln of crypto |url=https://www.reuters.com/technology/binance-says-abu-dhabis-mgx-invests-2-bln-into-crypto-exchange-2025-03-12/ |access-date=29 March 2025 |work=Reuters |date=12 March 2025 |archive-url= |archive-date=}}

{{Infobox cryptocurrency

| currency_name = Build'N'Build

| previous_names = Binance Coin

| image_1 = BNB, native cryptocurrency for the Binance Smart Chain.svg

| image_2 =

| image_width_1 = 150

| image_width_2 = 110

| image_title_1 =

| symbol =

| ticker_symbol = BNB

| coin_definition = Native coin of the BNB Chain

| white_paper = [http://cryptoverze.s3.us-east-2.amazonaws.com/wp-content/uploads/2018/10/10011630/Binance-Coin-BNB-Whitepaper_reduce.pdf BNB Whitepaper]

| implementations =

| initial_release_version =

| initial_release_date = {{Start date and age|2017|07}}

| code_repository =

| status = Active

| latest_release_version =

| latest_release_date =

| forked_from =

| programming_languages =

| operating_system =

| author =

| developer =

| source_model =

| license =

| website = www.bnbchain.org

| block_explorer = bscscan.com

| ledger_genesis =

| hash_function =

| issuance =

| timestamping =

| block_time =

| block_reward =

| circulating_supply =

| supply_limit = 200,000,000

| exchange_rate = ~300$

| market_cap =

| size =

}}

BNB (Build'N'Build) is a token on the BNB chain. It was originally called Binance Coin when it was launched in July 2017,{{cite news |last1=Schoenberg |first1=Tom |last2=Robinson |first2=Matt |last3=Lee |first3=Justina |title=US Probes Binance Over Token That Is Now World’s Fifth Largest |url=https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest |access-date=30 April 2025 |work=Bloomberg.com |date=6 June 2022 |archive-url=https://archive.today/20220607050233/https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest |archive-date=7 June 2022 |language=en |url-status=live |url-access=subscription}} for users to pay fees on the company's platform. By 2021, BNB had the third highest market capitalization among cryptocurrencies.{{Cite web |last=Anneken |first=Tappe |date=22 April 2021 |title=Bitcoin? Ethereum? Dogecoin? Your guide to the biggest names in crypto |url=https://www.cnn.com/2021/04/22/investing/cryptocurrency-guide-top-five-bitcoin-ethereum/index.html |url-status=live |archive-url=https://web.archive.org/web/20210422120427/https://www.cnn.com/2021/04/22/investing/cryptocurrency-guide-top-five-bitcoin-ethereum/index.html |archive-date=22 April 2021 |access-date=2021-05-12 |website=CNN}} The token was initially on the Ethereum network, then moved to BNB Smart Chain when it was released in September 2020.{{Cite news |last=Vigna |first=Paul |date=2021-05-03 |title=Ethereum Is Booming in the NFT Frenzy—So Is Network Congestion |language=en-US |work=The Wall Street Journal |url=https://www.wsj.com/articles/ethereum-is-booming-in-the-nft-frenzyso-is-network-congestion-11620050853 |url-status=live |access-date=2021-05-12 |archive-url=https://web.archive.org/web/20210503141621/https://www.wsj.com/articles/ethereum-is-booming-in-the-nft-frenzyso-is-network-congestion-11620050853 |archive-date=2021-05-03 |issn=0099-9660}}{{Cite web |title=Battle of the blockchains: Binance Smart Chain versus Ethereum |url=https://uk.finance.yahoo.com/news/ethereum-binance-smart-chain-blockchain-defi-crypto-074504608.html |access-date=2022-09-10 |website=uk.finance.yahoo.com |date=29 October 2021 |language=en-GB}} In February 2022, the company changed the token's name to Build'N'Build. At that time, Binance Smart Chain was also renamed to BNB Chain. BNB Chain had previously been criticized for being overly centralized, which had led to several exploits on the network.{{Cite news |last=Odejumo |first=Oluwapelumi |date=16 February 2022 |title=Binance Smart Chain Rebrands to BNB Chain, Reveals Multi-chain Goal |work=Yahoo Finance |url=https://finance.yahoo.com/news/binance-smart-chain-rebrands-bnb-091824225.html |url-status=live |access-date=22 August 2022 |archive-url=https://web.archive.org/web/20220822131723/https://finance.yahoo.com/news/binance-smart-chain-rebrands-bnb-091824225.html |archive-date=22 August 2022}}{{Cite web |last=Ehrlich |first=Steven |title=What Are DApp Tokens? |url=https://www.forbes.com/sites/digital-assets/article/what-are-dapp-tokens/ |access-date=2024-01-28 |website=Forbes |language=en}} BNB had 44 validators {{as of|October 2022}}.{{cite news |title=Binance-linked blockchain hit by $570 million crypto hack |last1=Howcroft |first1=Elizabeth |url=https://www.reuters.com/technology/hackers-steal-around-100-million-cryptocurrency-binance-linked-blockchain-2022-10-07/ |work=Reuters |date=October 7, 2022 |access-date=November 14, 2023}}

Binance USD (BUSD) was a US dollar-pegged stablecoin issued by Paxos on the behalf of Binance.{{Cite news |last=Howcroft |first=Elizabeth |date=11 August 2022 |title=Crypto derivatives volumes surge to $3.12 trillion in July - CryptoCompare |work=Reuters |url=https://www.reuters.com/technology/crypto-derivatives-volumes-surge-312-trillion-july-cryptocompare-2022-08-11/ |access-date=22 August 2022 |quote=BinanceUSD - a stablecoin issued by crypto exchange Binance}} In January 2023, Bloomberg reported that Binance-Peg BUSD "was often undercollateralized between 2020 and 2021. On three separate occasions, the gap between reserves and supply surpassed $1 billion." A Binance spokesperson said the "process of maintaining the backing ... has not always been flawless" but "has been much improved with enhanced discrepancy checks."{{Cite web |last1=Nicolle |first1=Emily |last2=Shen |first2=Muyao |date=10 January 2023 |title=Binance Acknowledges Past Flaws in Maintaining Stablecoin Backing |url=https://www.bloomberg.com/news/articles/2023-01-10/binance-bnb-acknowledges-past-flaws-in-managing-busd-peg-stablecoin-reserves |access-date=11 January 2023 |website=Bloomberg.com |language=en}}

In 2022, BUSD became the third largest stablecoin by market capitalization,{{Cite journal |last1=Eichengreen |first1=Barry |last2=Viswanath-Natraj |first2=Ganesh |date=February 2022 |title=Stablecoins and Central Bank Digital Currencies: Policy and Regulatory Challenges* |journal=Asian Economic Papers |publisher=Massachusetts Institute of Technology |volume=21 |pages=29–46 |doi=10.1162/asep_a_00843 |issn=1535-3516 |eissn=1536-0083 |s2cid=245866286 |doi-access=free |number=1|arxiv=2202.07564 }} following Tether (USDT) and USD Coin (USDC).{{Cite journal |last1=Y. Liao |first1=Gordon |last2=Caramichael |first2=John |date=January 2022 |title=Stablecoins: Growth Potential and Impact on Banking |journal=International Finance Discussion Paper |series=International Finance Discussion Papers |publisher=Board of Governors of the Federal Reserve System |volume=2022 |pages=2–4 |doi=10.17016/IFDP.2022.1334 |issn=1073-2500 |eissn=1073-2500 |s2cid=246518865 |doi-access=free |number=1334}} The New York Department of Financial Services issued an order to Paxos to stop minting new BUSD tokens in February 2023.{{Cite news |last=Ostroff |first=Patricia Kowsmann and Caitlin |title=Crypto Firm Paxos to Stop Issuing Dollar-Pegged Binance Token |url=https://www.wsj.com/articles/crypto-firm-paxos-to-stop-issuing-dollar-pegged-binance-token-94f65e52 |access-date=2023-02-13 |newspaper=Wall Street Journal |date=13 February 2023 |language=en-US}}{{Cite web |last=Vardai |first=Zoltan |title=Paxos ordered to stop issuing Binance USD stablecoin: report |url=https://finance.yahoo.com/news/paxos-ordered-stop-issuing-binance-110809459.html |access-date=2023-02-13 |website=Yahoo! Finance |date=13 February 2023 |language=en-US}}

In a formal statement issued on September 1, 2023, Binance announced it would discontinue support for BUSD.{{Cite web |title=Binance Initiates Transition Away From BUSD Support, Encourages Users to Embrace FDUSD|url=https://www.binance.com/en/feed/post/1071371|access-date=22 February 2024 |website=Binance}}{{primary source inline|date=May 2024}}

BEP-20 is a token standard on the Binance Smart Chain (BSC), based on ERC-20 from Ethereum. It defines rules for token transfers, ownership, and approvals within the BSC ecosystem.{{Cite web |title= BEP-20? |website=Binance Academy |url= https://academy.binance.com/en/glossary/bep-20 |access-date= 2025-02-03}}

On 6 April 2023, the Australian Securities & Investments Commission cancelled the Australian financial services licence held by Oztures Trading Pty Ltd trading as Binance Australia Derivatives (Binance).{{Cite web |title=23-091MR Binance Australia Derivatives – AFS licence cancelled |url=https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-091mr-binance-australia-derivatives-afs-licence-cancelled/ |access-date=18 May 2023 |website=asic.gov.au |language=en}} On 18 May 2023, Binance Australia announced that it had lost access to Australia's PayID payment system "due to a decision made by our third party payment service provider".{{Cite tweet |number=1659018600496373760 |user=Binance_AUS |title=Fellow Binancians, We regret to inform you that with immediate effect we are unable to facilitate PayID AUD deposits for Binance users due to a decision made by our third party payment service provider. We understand from our third party payment service provider that Bank… https://t.co/P8iM2X4orp |author=Binance Australia |date=18 May 2023 |access-date=22 May 2023 |language=en |archive-url=https://web.archive.org/web/20230518085928/https://twitter.com/Binance_AUS/status/1659018600496373760 |archive-date=18 May 2023 |url-status=live}} The same day, Westpac bank banned Australian customers transacting with Binance.{{Cite web |title=Westpac trials new cryptocurrency blocks to prevent scam losses |url=https://www.westpac.com.au/about-westpac/media/media-releases/2023/18-May/ |access-date=18 May 2023 |website=www.westpac.com.au |language=en}}{{Cite web |last=Sier |first=Jessica |date=18 May 2023 |title=Westpac places immediate ban on payments to Binance crypto exchange |url=https://www.afr.com/technology/westpac-places-immediate-ban-on-payments-to-binance-crypto-exchange-20230518-p5d9ec |access-date=18 May 2023 |website=Australian Financial Review |language=en}}

On June 23, 2023, Belgium's Financial Services and Markets Authority ordered Binance to “cease, with immediate effect, offering or providing any and all” virtual currency services in the country. The regulator said Binance had been offering such services “from countries that are not members of the European Economic Area.”{{Cite web |date=23 June 2023 |title=FSMA orders Binance to cease immediately all offers of virtual currency services in Belgium {{!}} FSMA |url=https://www.fsma.be/en/news/fsma-orders-binance-cease-immediately-all-offers-virtual-currency-services-belgium |access-date=24 June 2023 |website=www.fsma.be |language=en}}{{Cite web |last=Kar-Gupta |first=Sudip |date=23 June 2023 |title=Binance ordered to stop all digital currency services in Belgium |url=https://www.reuters.com/technology/binance-ordered-stop-all-digital-currency-services-belgium-2023-06-23/ |access-date=24 June 2023 |website=Reuters |language=en}}

On 17 March 2022, Binance has confirmed in an undertaking to the Ontario Securities Commission that it would stop opening new accounts and halting trading in existing accounts for users in Ontario.{{Cite news |date=2022-03-18 |title=Binance says users in Ontario restricted from using its platform - regulator |work=Reuters |url=https://www.reuters.com/business/finance/binance-says-users-ontario-restricted-using-its-platform-regulator-2022-03-17/}}{{Cite web |date=2022-03-17 |title=Undertaking and Acknowledgement by Binance Holdings Limited |url=https://www.osc.ca/sites/default/files/2022-03/20220316-Binance-Undertaking-and-Acknowledgement.pdf |website=Ontario Securities Commission}} In May 2023, Binance announced it would withdraw from the Canadian market due to the introduction of stricter rules in the country.{{Cite web |last=Moon |first=Mariella |date=13 May 2023 |title=Binance leaves Canada due to stricter crypto rules |url=https://www.engadget.com/binance-leaves-canada-due-to-stricter-crypto-rules-140134938.html |access-date=14 May 2023 |website=Engadget |language=en-US}} On May 30, 2023, it was reported that the Ontario Securities Commission had issued an investigation order into whether Binance may have taken steps to circumvent Ontario securities law and compliance controls prior to its withdrawal from the Canadian market.{{Cite web |last=Shecter |first=Barbara |title=OSC investigating crypto exchange Binance despite Canadian exit |url=https://financialpost.com/fp-finance/cryptocurrency/osc-investigating-binance-despite-canada-exit |access-date=2 June 2023 |website=financialpost |language=en-CA}} In May 2024, FINTRAC announced that it had imposed a $4.32 million dollar fine on Binance for violating Canadian money laundering and terrorist financing laws.{{cite news |title=Binance Fined $4.4 Million in Canada |url=https://www.inc.com/reuters/binance-gets-a-44-million-fine-in-canada.html |access-date=10 May 2024 |work=Inc. |agency=Reuters |date=10 May 2024}}

In May 2022, Binance gained regulatory approval in France, allowing the company to provide digital asset services in the country. France is the first European country to give Binance regulatory approval.{{Cite web |last=Lioa |first=Rita |date=5 May 2022 |title=Binance gets regulatory nod in France, paving the way for Europe push |url=https://techcrunch.com/2022/05/04/binance-france-regulatory-approval-europe/ |archive-url=https://web.archive.org/web/20220506011213/https://techcrunch.com/2022/05/04/binance-france-regulatory-approval-europe/ |url-status=dead |archive-date=6 May 2022 |access-date=2022-06-14 |website=TechCrunch |language=en-US}} In June 2023, the Paris prosecutor's office announced that Binance was under preliminary investigation for illegal canvassing of clients and money-laundering.{{Cite news |date=2023-06-16 |title=France investigates Binance over money-laundering, canvassing breaches |language=en |work=Reuters |url=https://www.reuters.com/technology/binance-under-investigation-france-illegal-canvassing-le-monde-2023-06-16/ |access-date=2023-06-19}} In January 2025, French authorities opened a judicial investigation into Binance for potential involvement in money laundering, drug trafficking, and tax fraud within the European Union from 2019 to 2024.{{cite news |last1=De Clercq |first1=Geert |last2=Brice |first2=Makini |last3=Howcroft |first3=Elizabeth |title=French investigators open fraud probe against crypto platform Binance |url=https://www.reuters.com/technology/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28/ |access-date=21 February 2025 |work=Reuters |date=28 January 2025}}

In April 2021, the Federal Financial Supervisory Authority in Germany warned that the company risked fines for not releasing an investor prospectus for the stock tokens it has issued.{{Cite web |date=29 April 2021 |title=UPDATE 2-Germany's financial watchdog warns crypto exchange Binance over "stock tokens" |url=https://finance.yahoo.com/news/1-german-regulator-warns-binance-072648854.html |access-date=2021-05-13 |website=finance.yahoo.com |language=en-US |agency=Reuters}}

In July 2021, Italy's Commissione Nazionale per le Società e la Borsa ordered Binance to be blocked from operating.{{Cite web |last1=Wilson |first1=Tom |last2=Irrera |first2=Anna |date=15 July 2021 |title=Crypto exchange Binance unauthorised, says Italian regulator, as crackdown widens |url=https://www.reuters.com/world/china/crypto-exchange-binance-not-authorised-italian-regulators-say-2021-07-15/ |access-date=26 August 2022 |website=reuters.com}} In May 2022, Binance gained regulatory approval in Italy, allowing the company to provide digital asset services in the country.{{Cite web |last=Bartenstein |first=Ben |date=28 May 2022 |title=Binance Gets Back Into Italy With New Registration |url=https://www.bloomberg.com/news/articles/2022-05-27/binance-gets-italy-regulatory-nod-weeks-after-french-approval |access-date=26 August 2022 |website=bloomberg.com}}

In August 2022, India's Enforcement Directorate froze the assets of WazirX, an exchange owned by Binance, as part of a money laundering investigation.{{Cite web |date=5 August 2022 |title=India freezes assets of Binance-owned local unit WazirX |url=https://www.reuters.com/business/finance/india-freezes-assets-binance-owned-local-unit-wazirx-2022-08-05/ |access-date=5 August 2022 |website=reuters.com |publisher=Reuters}} Following the event, CEO Zhao claimed that they never owned WazirX or owned any equity in Zanmai Labs{{mdash}}the operating entity of WazirX{{mdash}}citing "a few issues" that prevented the completion of the acquisition. The co-founder of WazirX, Nischal Shetty, disputed Zhao's claims asserting that Binance had indeed acquired them.{{Cite web |last=Singh |first=Manish |date=5 August 2022 |title=Binance says it doesn't own Indian exchange WazirX, years after acquisition announcement |url=https://techcrunch.com/2022/08/05/binance-says-it-doesnt-own-indian-exchange-wazirx-years-after-acquisition-announcement/ |website=TechCrunch}} On 28 December, Financial Intelligence Unit (India) recommended blocking the URLs of nine crypto entities, including Binance on the grounds of non compliance to the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).{{Cite web |date=2023-12-09 |title=Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp among 9 offshore crypto cos banned by FinMin |url=https://www.fortuneindia.com/enterprise/binance-kucoin-huobi-kraken-gateio-bittrex-bitstamp-among-9-offshore-crypto-cos-banned-by-finmin/115260 |access-date=2023-12-29 |website=www.fortuneindia.com |language=en}} On 12 January 2024, The Binance application was removed from istore and Google Play Store to prevent Indian Crypto investors from using them.{{Cite news |last=Singh |first=Navdeep |date=2024-01-14 |title=India bans foreign crypto platforms like Binance, Kucoin. What should investors do now? |url=https://economictimes.indiatimes.com/markets/cryptocurrency/india-bans-foreign-crypto-platforms-like-binance-kucoin-what-should-investors-do-now/articleshow/106830654.cms?from=mdr |access-date=2024-05-02 |work=The Economic Times |issn=0013-0389}} In June 2024, Binance was imposed with a fine of US$ 2.25 million by the Financial Intelligence Unit, for operating in India in violation of local anti-money laundering regulations.{{cite news |title=Indian financial watchdog imposes $2.25m penalty on crypto exchange Binance |url=https://www.dawn.com/news/1840821/indian-financial-watchdog-imposes-225m-penalty-on-crypto-exchange-binance |work=DAWN |date=20 June 2024 |language=en}}

On 25 June 2021, Japan's Financial Services Agency warned Binance that it was not registered to do business in Japan.{{Cite web |last=Steiner |first=Rupert |date=28 June 2021 |title=Regulators Warn Against Binance Exchange But Cryptocurrencies Are Rising – Here's Why |url=https://www.barrons.com/articles/bitcoin-binance-cryptocurrencies-japan-51624910392 |access-date=2 May 2024 |website=Barrons}} This was the second notice Binance received from the FSA.{{Cite web |date=2021-06-25 |title=Japan's Financial Services Regulator Issues Binance Warning |url=https://ca.finance.yahoo.com/news/japan-financial-services-watchdog-issues-124735922.html |access-date=2024-05-02 |website=ca.finance.yahoo.com |language=en-CA}} Previously, a similar warning was issued on 23 March 2018.{{Cite web |date=2021-06-25 |title=Japan's Financial Services Regulator Issues Binance Warning |url=https://ca.finance.yahoo.com/news/japan-financial-services-watchdog-issues-124735922.html |access-date=2024-05-02 |website=ca.finance.yahoo.com |language=en-CA}}

In April 2022, the Dutch central bank announced a €3.3m fine for Binance due to offering services within the Netherlands without being registered in the country. The fine was issued to the company after an official warning was issued to the company during August 2021.{{Cite web |last= |date=19 July 2022 |title=Dutch central bank fines Binance 3.3 million euros |url=https://www.thehindu.com/sci-tech/technology/dutch-central-bank-fines-binance-33-million-euros/article65656961.ece |access-date=27 July 2022 |website=thehindu.com |publisher=The Hindu}} In June 2023, Binance announced that it was leaving the Netherlands after failing to obtain regulatory approval.{{Cite news |date=2023-06-16 |title=Binance exits Netherlands and faces France probe |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-65935263 |access-date=2023-06-19}}

In June 2023, Nigeria's Securities and Exchange Commission recently deemed Binance's activities in the country as "illegal". It issued a declaration stating that Binance Nigeria Limited, a subsidiary of Binance, was operating unlawfully in the country. The regulator specifically instructed Binance to cease all its activities within Nigeria.{{Cite news |date=2023-06-10 |title=Nigeria regulator says local Binance operations 'illegal' |language=en |work=Reuters |url=https://www.reuters.com/technology/nigeria-regulator-says-local-binance-operations-illegal-2023-06-10/ |access-date=2023-06-10}}{{Cite web |last=Media |first=R. V. O. |date=2023-06-09 |title=Circular on the Activities of Binance Nigeria Limited |url=https://sec.gov.ng/circular-on-the-activities-of-binance-nigeria-limited/ |access-date=2023-06-10 |website=The Securities and Exchange Commission, Nigeria}}

On 28 February 2024, two Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, were detained by Nigeria's government on allegations of illegal operations and forex manipulation.{{Cite web |last=Eboh |first=Camillus |date=April 4, 2024 |title=Detained Binance executive in court on Nigerian tax, money laundry charges |website=Reuters |url=https://www.reuters.com/world/africa/detained-binance-executive-court-nigerian-tax-money-laundry-charges-2024-04-04/}} Anjarwalla escaped custody{{Cite web |last=Olawoyin |first=Oladeinde |date=2024-03-25 |title=Exclusive: Detained Binance executive escapes from custody in Nigeria |url=https://www.premiumtimesng.com/news/top-news/680511-exclusive-detained-binance-executive-escapes-from-custody-in-nigeria.html |access-date=2024-05-15 |website=Premium Times Nigeria |language=en}} in March. The Nigerian government subsequently filed a criminal charge against Binance for tax evasion. Amid regulatory issues in Nigeria, Binance disabled its Naira services on 8 March 2024. In May, Binance's CEO, Richard Teng, claimed that officials sought a bribe of cryptocurrency to resolve the issues,{{Cite web |last=Olurounbi |first=Ruth |date=July 5, 2024 |title=Binance Says It Was Asked for 'Secret' Payment Over Nigeria Woes |url=https://www.bloomberg.com/news/articles/2024-05-07/binance-suggests-bribe-sought-to-make-nigeria-problems-go-away?embedded-checkout=true |website=Bloomberg}}{{Cite web |last=Akintaro |first=Samson |date=2024-05-12 |title=Binance's bribery allegation may hinder foreign investments into Nigeria – SBM Intelligence |url=https://nairametrics.com/2024/05/12/binances-bribery-allegation-may-hinder-foreign-investments-into-nigeria-sbm-intelligence/ |access-date=2024-05-15 |website=Nairametrics |language=en-US}} but the country's House of Representatives denied the allegations, stating that Binance's actions were an attempt to divert attention from serious criminal allegations against the company. In October 2024, Gambaryan was released after the Nigerian government dropped charges against him.{{cite news |title=Nigerian court orders release of Binance executive after charges dropped |last1=Eboh |first1=Camillus |url=https://www.reuters.com/world/africa/nigeria-drops-money-laundering-charges-against-binance-executive-2024-10-23/ |work=Reuters |date=October 23, 2024 |access-date=March 3, 2025}}

On Monday, 25 March 2024, the Securities and Exchange Commission (SEC) of the Philippines has moved forward with plans to block Binance's website, citing concerns over the security of Filipino investors' funds. This decision follows the SEC's identification of Binance as operating without the necessary licensing for its investment and trading platform. Despite issuing warnings since November of the previous year, Binance continued its operations prompting the SEC to seek assistance from the National Telecommunications Commission (NTC) in blocking access to Binance's website and affiliated pages.{{cite web|url=https://business.inquirer.net/451826/sec-pushes-forward-efforts-to-ban-binance-in-ph |title=SEC pushes forward efforts to ban Binance in PH |website=Inquirer.net |access-date=24 March 2024}}

SEC Chair Emilio Aquino emphasized the potential threat to investors' security posed by continued access to Binance's platform. Despite Binance's significant presence and activity in the Philippines, the SEC aims to provide investors with ample time to transition their investments to authorized platforms. Additionally, the SEC has collaborated with major tech companies like Google and Meta to halt Binance's digital advertising efforts targeting Filipino users, although the Binance app remains available for download on mainstream app stores.

Thailand's Securities and Exchange Commission filed a criminal complaint against Binance on 2 July 2021, "for commission of offence under the Emergency Decree on Digital Asset Business B.E. 2561 (2018)". Additionally, Thailand's SEC cited Binance for operating without a license, a violation of Section 26 of the Digital Asset Businesses Emergency Decree.{{Cite web |title=English (United States) News_Detail |url=https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=9017 |access-date=2021-09-17 |website=sec.or.th |language=en-US}} In May 2023, Thailand's Ministry of Finance issued a cryptocurrency exchange license to Gulf Binance, the joint venture of Binance and Gulf Innova, a subsidiary of Thai billionaire Sarath Ratanavadi's Gulf Energy Development. The exchange would reportedly launch later that same year.{{Cite web |last=Regalado |first=Francesca |title=Binance gains first Southeast Asian license from Thailand |url=https://asia.nikkei.com/Spotlight/Cryptocurrencies/Binance-gains-first-Southeast-Asian-license-from-Thailand |access-date=2 June 2023 |website=Nikkei Asia}}

In January 2021, the UK's Financial Conduct Authority began requiring firms dealing with cryptoassets to register in order to comply with anti-money laundering rules.{{Cite web |date=2021-11-01 |title=FCA warns consumers of the risks of investments advertising high returns based on cryptoassets |url=https://www.fca.org.uk/news/news-stories/fca-warns-consumers-risks-investments-advertising-high-returns-based-cryptoassets |url-status=live |archive-url=https://web.archive.org/web/20230118034120/https://www.fca.org.uk/news/news-stories/fca-warns-consumers-risks-investments-advertising-high-returns-based-cryptoassets |archive-date=2023-01-18 |access-date=2023-01-18 |website=Financial Conduct Authority |language=en}} In June 2021, Binance was ordered by the FCA to stop all regulated activity in the United Kingdom.{{Cite news |date=27 June 2021 |title=Britain bans Binance in latest cryptocurrency crackdown |work=Reuters |url=https://www.reuters.com/article/binance-uk/financial-watchdog-orders-crypto-exchange-binance-to-stop-regulated-activities-in-uk-idUSL2N2O907S |access-date=2021-06-27}}{{Cite news |last1=Azevedo Rocha |first1=Priscila |last2=Ossinger |first2=Joanna |date=27 June 2021 |title=Crypto Exchange Binance Banned From Doing Business in U.K. |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2021-06-27/u-k-financial-regulator-bars-crypto-exchange-binance |access-date=27 June 2021}} In June 2023, the FCA canceled unused permissions granted to Binance Markets Limited, meaning the company "can no longer provide regulated activities and products" in the UK.{{Cite web |title=NewRegister |url=https://register.fca.org.uk/s/firm?id=001b000000nojfNAAQ |access-date=24 June 2023 |website=register.fca.org.uk}}

In 2019, Binance was banned in the United States on regulatory grounds. In response, Binance and other investors opened Binance.US, a separate exchange designed to comply with all applicable US federal laws.{{Cite magazine |date=2021-07-20 |title=Binance.US Review: Low Fees, But Investors Should Take a Pass |url=https://time.com/nextadvisor/investing/cryptocurrency/binance-us-review/#:~:text=Binance.US%20is%20not%20available,and%20more%20advanced%20trading%20views. |magazine=Time |language=en-US |issn=0040-781X |access-date=2022-07-29}} In May 2021, Bloomberg News reported that Binance was under investigation by the United States Department of Justice and Internal Revenue Service for money laundering and tax evasion.{{Cite news |last=Schoenberg |first=Tom |date=13 May 2021 |title=Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2021-05-13/binance-probed-by-u-s-as-money-laundering-tax-sleuths-bore-in |access-date=27 June 2021}} In June 2022, the United States Securities and Exchange Commission launched an enquiry into Binance to determine if the company's 2017 ICO of BNB tokens amounted to an illegal sale of a security.{{Cite news |date=2022-06-06 |title=US Probes Binance Over Token That Is Now World's Fifth Largest |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest |url-status=bot: unknown |access-date=2022-06-07 |archive-url=https://web.archive.org/web/20220721171647/https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest |archive-date=21 July 2022}} In December 2022, Binance's American entity Binance.US announced that it would acquire Voyager Digital's assets in a $1.02 billion deal. This deal was called off in April 2023 due to what Binance.US called a "hostile and uncertain regulatory climate".{{Cite web |last=Melinek |first=Jacquelyn |date=27 April 2023 |title=Binance.US sailed away from its $1.3B deal with Voyager, now what? |url=https://techcrunch.com/2023/04/27/binance-us-sailed-away-from-its-1-3b-deal-with-voyager-now-what/ |access-date=7 May 2023 |website=TechCrunch}}

Arkham Intelligence provided data in January 2023 that identified “an alleged nexus of money laundering” from a much smaller exchange called Bitzlato through intermediate wallets of Binance. Over the course of several years, it was found that the intermediary wallet deposited $15 million worth of crypto onto Binance’s platform.{{cite web|url=https://www.cnbc.com/2023/01/19/binance-was-final-destination-for-millions-in-funds-from-bitzlato.html|title=Binance was final destination for millions in funds from Bitzlato, exchange shut down for alleged money laundering|website=CNBC|date=January 19, 2023|author1=Rohan Goswami|author2=MacKenzie Sigalos|access-date=April 12, 2024}} In February 2023, Reuters reported that over the first three months of 2021, Binance transferred over $404 million from a Binance. US account at Silvergate Bank to Merit Peak Ltd., a company managed by Zhao. Catherine Coley, then-CEO of Binance US, was quoted in messages to another Binance executive saying that "no one mentioned" the "unexpected" transfers. Coley left Binance.US shortly thereafter. Reuters said the transfers called into question the purported independence of Binance.US from Binance.com. A Binance.US spokesperson said the Reuters report used "outdated information" without further elaboration.{{Cite web |last1=Berwick |first1=Angus |last2=Wilson |first2=Tom |date=16 February 2023 |title=Crypto giant Binance moved $400 million from U.S. partner to firm managed by CEO Zhao |url=https://www.reuters.com/technology/crypto-giant-binance-moved-400-million-us-partner-firm-managed-by-ceo-zhao-2023-02-16/ |access-date=6 March 2023 |website=Reuters |language=en}}

On 1 March 2023, US Senators Elizabeth Warren, Chris Van Hollen, and Roger Marshall wrote a letter to Binance describing the exchange as "a hotbed of illegal financial activity that has facilitated over $10 billion in payments to criminals and sanctions evaders". The letter formally requested documents related to Binance's compliance with regulations.{{cite news |last1=Kharif |first1=Olga |title=Senators write a scathing letter to Binance alleging it's a 'hotbed of illegal financial activity' and has facilitated billions in criminal payments |url=https://fortune.com/2023/03/02/binance-cz-letter-senators-allege-hotbed-illegal-financial-activity-elizabeth-warren/ |access-date=8 November 2023 |work=Fortune |date=2 March 2023 |language=en}}{{cite web |last1=Warren |first1=Elizabeth |last2=Van Hollen |first2=Chris |last3=Marshall |first3=Roger |author1-link=Elizabeth Warren |author2-link=Chris Van Hollen |author3-link=Roger Marshall |title=2023.03.01 Letter to Binance and Binance.US re Compliance and Risk |url=https://www.warren.senate.gov/imo/media/doc/2023.03.01%20Letter%20to%20Binance%20and%20Binance.US%20re%20Compliance%20and%20Risk.pdf |website=senate.gov |access-date=8 November 2023 |date=1 March 2023}} On 27 March 2023, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao in the United States District Court for the Northern District of Illinois, claiming willful evasion of US law and allegedly breaching derivatives rules.{{Cite news |date=27 March 2023 |title=Binance and Its CEO Sued by CFTC Over US Regulatory Violations |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2023-03-27/crypto-exchange-binance-sued-by-us-cftc-for-alleged-derivatives-rule-lapses |access-date=27 March 2023}}{{Subscription required}}{{Cite news |last=Milmo |first=Dan |date=27 March 2023 |title=US regulator sues crypto exchange Binance and boss Changpeng Zhao |work=The Guardian |url=https://www.theguardian.com/technology/2023/mar/27/us-regulator-sues-crypto-exchange-binance-and-boss-changpeng-zhao |access-date=27 March 2023}} The agency accused Binance of breaking rules intended to thwart money laundering operations,{{Cite news |date=27 March 2023 |title=Binance accused of breaking US financial laws |work=BBC News |url=https://www.bbc.com/news/business-65091480 |access-date=28 March 2023}} pointing to internal communications describing transactions by Palestinian militant organization Hamas, and suspected criminals, with the company's money laundering reporting officer allegedly remarking "we see the bad, but we close 2 eyes". In April 2023, three unidentified trading firms cited as VIP clients of Binance were revealed to be Radix Trading, Jane Street Capital, and Tower Research Capital.{{Cite news |date=2023-04-05 |title=Jane Street, Tower and Radix Are Unnamed 'VIPs' in Binance Case |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2023-04-05/jane-street-tower-and-radix-are-unnamed-vips-in-binance-case |access-date=2023-11-24}}

In June 2023, the SEC said it was suing Binance and Zhao on 13 charges for alleged violations of US securities rules.{{Cite news |title=SEC Sues Binance and CEO Zhao for Breaking US Securities Rules |url=https://www.bloomberg.com/news/articles/2023-06-05/sec-sues-binance-and-ceo-zhao-for-breaking-us-securities-rules |access-date=5 June 2023 |website=Bloomberg News |date=5 June 2023}}{{Subscription required}}{{Cite news |title=S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators |work=The New York Times |date=5 June 2023 |url=https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html |access-date=5 June 2023 |last1=Goldstein |first1=Matthew |last2=Flitter |first2=Emily |last3=Yaffe-Bellany |first3=David}} On 12 September 2023, Binance.US announced the resignation of CEO Brian Shroder and a reduction of the exchange’s workforce by around 100 positions, roughly one-third of its total staff. Binance.US cited the SEC’s civil suit as "an unfortunate example" of the agency's "aggressive attempts to cripple our industry".{{cite web |title=Binance.US CEO departs as crypto company cuts a third of its workforce |url=https://apnews.com/article/binance-us-ceo-shroder-departs-layoffs-crypto-5cad2ad5fa8b6a385a4c85992a9ae508 |website=AP News |access-date=14 September 2023 |language=en |date=13 September 2023}} In October 2023, coinciding with the outbreak of the Gaza war, Binance and Tether were described as a source of terrorist funding by US senator Cynthia Lummis and US Representative French Hill, with a letter calling for the Department of Justice to crack down on the exchange.{{cite news |last1=Jacobino |first1=Nicholas |last2=Akuffo |first2=Rachelle |title=Senate meets in bid to 'crack down' on crypto-backed terrorism |url=https://money.yahoo.com/video/senate-meets-bid-crack-down-193250356.html |access-date=8 November 2023 |work=finance.yahoo.com |date=26 October 2023}}{{cite news |last1=Matthews |first1=Chris |title=U.S. adds Hamas sanctions as crypto industry fights back against funding claims |url=https://www.marketwatch.com/story/u-s-adds-hamas-sanctions-as-crypto-industry-fights-back-against-funding-claims-9e67ca70 |access-date=8 November 2023 |work=MarketWatch |date=27 October 2023 |language=EN-US}}

On 21 November 2023, Binance pled guilty to federal charges, of money laundering, unlicensed money transmitting, and sanctions violations.{{cite web |date=21 November 2023 |title=Binance and CEO Plead Guilty to Federal Charges in $4B Resolution |url=https://www.justice.gov/opa/pr/binance-and-ceo-plead-guilty-federal-charges-4b-resolution |access-date=22 November 2023 |website=Department of Justice - Office of Public Affairs}} It was fined $4.3 billion. Zhao agreed to pay a $50 million fine and step down as CEO of the company, but was allowed to maintain his ownership as part of the deal.{{Cite web |first1=Dave |last1=Michaels |first2=Patricia |last2=Kowsmann |first3=Vivian |last3=Salama |title=WSJ News Exclusive {{!}} Binance Founder Changpeng Zhao Agrees to Step Down, Plead Guilty |url=https://www.wsj.com/finance/currencies/binance-ceo-changpeng-zhao-step-down-plead-guilty-01f72a40 |date=2023-11-21 |website=WSJ |language=en-US}}{{cite news |last1=Helmore |first1=Edward |title=Crypto giant Binance admits to money laundering and agrees to pay $4.3bn |url=https://www.theguardian.com/business/2023/nov/21/binance-settlement-crypto-exchange |access-date=November 21, 2023 |work=The Guardian |date=November 21, 2023}} On 31 January 2024, Binance was sued by the US victims of the 2023 Hamas-led attack on Israel, as well as their families, in Manhattan federal court for allegedly facilitating Hamas's terrorist activities by providing a funding mechanism for Hamas. The plaintiffs include released hostages of Hamas and families of victims who were killed in the attack.{{Cite web |title=Crypto exchange Binance sued by Hamas hostages, Oct. 7 victims' families for allegedly 'facilitating terrorism' |url=https://abcnews.go.com/International/crypto-exchange-binance-sued-hamas-hostages-oct-7/story?id=106864117 |access-date=2024-02-20 |website=ABC News |language=en}}{{Cite web |title=Binance Sued by Hamas Hostage, Families of Victims in Attack (1) |url=https://news.bloomberglaw.com/crypto/binance-sued-by-hamas-hostage-families-of-victims-in-attack |access-date=2024-02-20 |website=news.bloomberglaw.com |language=en}}{{Cite web |date=2024-02-01 |title=Binance Sued by Families of Hamas Victims, Hostages |url=https://finance.yahoo.com/news/binance-sued-families-hamas-victims-091411571.html |access-date=2024-02-20 |website=Yahoo Finance |language=en-US}} In April 2024, Zhao was sentenced to four months in prison after pleading guilty to violating US money laundering laws.{{Cite news |last=Michaels |first=Caitlin Ostroff and Dave |title=Founder of Binance, World's Largest Crypto Firm, Sentenced to Four Months |url=https://www.wsj.com/finance/currencies/binance-founder-changpeng-zhao-sentencing-90daed12 |access-date=2024-05-01 |work=WSJ |language=en-US}}{{Cite web |last1=Sigalos |first1=MacKenzie |last2=Browne |first2=Ryan |date=2024-04-30 |title=Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal |url=https://www.cnbc.com/2024/04/30/binance-founder-changpeng-zhao-cz-sentenced-to-four-months-in-prison-.html |access-date=2024-05-01 |website=CNBC |language=en}}{{Cite web |last1=Bloom |first1=Deborah |last2=Stempel |first2=Jonathan |date=1 May 2024 |title=Binance crypto founder Zhao sentenced to four months in prison |url=https://www.reuters.com/legal/binances-ceo-zhao-faces-sentencing-over-money-laundering-violations-2024-04-30/ |access-date=2 May 2024 |website=Reuters}} In September 2024, Zhao was released from prison.{{Cite news |date=2024-09-29 |title=Founder of world's largest crypto exchange Changpeng Zhao released from jail, read the company's statement |url=https://timesofindia.indiatimes.com/technology/tech-news/founder-of-worlds-largest-crypto-exchange-changpeng-zhao-released-from-jail-read-the-companys-statement/articleshow/113771845.cms |access-date=2025-02-05 |work=The Times of India |issn=0971-8257}}

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