TEL AVIV, Israel--(BUSINESS WIRE)--Aug 30, 2023--

Binace, the world’s largest cryptocurrency exchange, will pay over $4bn to US officials after admitting to unlicensed money transfers, sanctions violations, and willfully failing to institute anti-money laundering protections, federal officials announced on Tuesday. The oversights allowed trading with sanctioned nations like Iran, Cuba, and Syria, and failed to institute systems to report suspicious potential transactions with terror groups, according to the Treasury Department. “Binance was allowing illicit actors to transact freely, supporting activities from child sexual abuse to illegal narcotics to terrorism,” Treasury Secretary Janet Yellensaid on Tuesday. Changpeng Zhao, the founder of and CEO of Binance, is also stepping down, and will pay a $50m fine after pleading guilty to related charges. He could face up to 18 months in prison. “I made mistakes, and I must take responsibility,” the executive wrote on X. “This is best for our community, for Binance, and for myself.” Federal officials described a wide-ranging set of problems at the crypto exchange, which at times handled two-thirds of global crypto trades. “It willfully enabled hundreds of millions of dollars in transactions between American users and users subject to US sanctions,” US Attorney General Merrick Garland said in remarks on Tuesday. “And its platform accommodated criminals across the world who used Binance to move their stolen funds and other criminal proceeds. “Binance prioritized its profits over the safety of the American people.” The massive penalty, one of the largest in US financial regulation history, will also go towards resolving inquiries from the Commodity Futures Trading Commission, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCen), and the Office of Foreign Assets Control. On multiple occasions, Binance leadership intentionally took steps that allowed dangerous and illegal transactions to take place, according to the Justice Department. Binance knew it served US customers, meaning it had to register with FinCen and implement anti-money laundering controls, but “chose not to comply,” per the DOJ. Rather than set up these protections, the company created a separate Binance.US platform in 2019, while seeking to encourage VIP customers to obscure their accounts and continue using the main exchange, officials said. “Binance executives, including Zhao, made a plan to contact VIP customers and help the VIP register a new account for an offshore entity and transfer holdings to that account,” the DoJ said in an announcement of the agreement on Tuesday. “Binance employees also called US VIPs to encourage them to provide information that suggested the customer was not located in the United States.” The company, knowing it had US customers, also failed to introduce controls that would stop them from making trades with sanctioned jurisdictions like Iran, resulting in over $898m in trades between US and Iran-based users between January 2019 and May 2022. At one point, according to the DoJ, Zhao told employees it was “better to ask for forgiveness than permission,” while in another instance, a compliance employee wrote in a message, “We need a banner ‘is washing drug money too hard these days - come to binance we got cake for you.’” In a statement on Tuesday, Binance acknowledge making “criminal violations.” “These resolutions acknowledge our company’s responsibility for historical, criminal compliance violations, and allow our company to turn the page on a challenging yet transformative chapter of learning and growth,” the company wrote. “With the compliance and governance enhancements enshrined in our commitments, we can begin to share our vision for Binance’s exciting future and the future of the crypto industry.” The company also emphasised that the resolutions don’t allege Binance misappropriated user funds or engaged in market manipulation. Richard Teng, the company’s former global head of regional markets, will take over as CEO, according to Binance. The massive agreement with federal regulators will also require Binance to accept the appointment of a government monitor to oversee the business and bar Zhao from involvement with the company until three years after the monitor is appointed, according to court records viewed by The New York Times. Notably, the Securities and Exchange Commission was not a part of the Binance agreement. The SEC sued Binance and Zhao in June, alleging that they used companies beneficially owned by Zhao to inflate trading prices and make money off customers, allegedly mixing customer funds with Binance money. “While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously,” the company responded at the time in a statement. “And, to be clear: any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staff’s action in light of the ample time the Staff has had to conduct their investigation,” the company added in the statement. The massive settlement comes just weeks after FTX founder Sam Bankman-Fried was found guilty in federal court of defrauding customers on his popular cryptocurrency exchange out of billions of dollars. Bankman-Fried’s defence team has vowed to fight the charges.

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Aug 10, 2023--

NEW YORK--(BUSINESS WIRE)--Aug 18, 2023--

The US Securities and Exchange Commission has not yet come to a decision on whether to approve the

Shares in Orsted A/S fell the most in more than a month after New York regulators ruled against

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(Corrects Reuters instrument code for Foxconn in the 8th paragraph) MEXICO CITY (Reuters) -Taiwan-based electronics manufacturer Quanta Computer will invest

By Stephen Nellis and Max A. Cherney Nvidia's CEO Jensen Huang said he expects the artificial intelligence boom

When archaeologists explored an underwater cavern in southern Mexico in 2014, they were shocked by what they found. The cavern is known as Sac Uayum, and is located in Mexico’s Yucatán peninsula. It is technically a cenote – a natural pit that comes about after limestone bedrock collapses, exposing groundwater beneath. Local villagers were said to be terrified of the spot, because pits like this were sometimes used by the ancient Maya for sacrificial offerings. Archaeologist Bradley Russell, from College of St Rose, and a group of divers scaled down roughly 20 metres into the unknown. Inside the pit were two chambers with human bones and skulls scattered across the floors of each. The skulls were elongated, as part of an ancient practice that is thought to have involved flattening people’s heads during infancy. Archaeologists still don’t know why the ancient culture did this – but it ain't pretty. The cenote sits just outside the ruins of the ancient Maya city of Mayapán, and the researchers think this shows that, like the modern day locals, the ancient Mayans kept their distance too. Local legend says that Sac Uayum is guarded by a feathered, horse-headed serpent. Older residents of the nearby village of Telchaquillo tell stories of people seeing the serpent perching in a tree, leaping up, spinning around three times, and diving into the water. Russell explained to National Geographic that the sinkhole is said to be “evil”. “To this day, people do not get drinking water from that cenote, it is generally considered taboo. “It’s off-limits, people do not let their children plan near there and there’s a lot of beliefs around this cenote having evil forces or malevolent forces associated with it. “Cenotes are important because the main access to the water that you get is through these sinkholes. “They are also believed to be access to the Mayan underworld and the homes of Gods. “Mayapan is a large city, it’s incredibly dense, there’s nothing like it in the classic period, it’s incredibly dense for Maya history, there’s nothing quite like it.” He added that the location of Sac Uayum – south of Mayapan – is a clue as to what was going on. In Maya beliefs, south is the direction associated with the underworld. Alternatively, Russell also suggested they could have been plague victims. "You wouldn't want them near the rest of the population. And you wouldn't want to drink the water either.” How to join the indy100's free WhatsApp channel Sign up to our free indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Scientists have found a new planet they shouldn’t exist, after it seemed to miraculously survived the violent death of its star. Many planets, including our own, face almost certain doom when their stars reach the end of their lives and engulf them. When our own Sun dies, for instance, it will expand to 100 times and swallow the Earth. But the new study offers hope that at least some of those planets are able to survive. The newly discovered world, a Jupiter-like planet known as Halla, managed to survive the demise of its star Baekdu, in what should have been certain death. Astronomers found the planet and discovered through follow-up observations that Baekdu had previously expanded into a red giant. When it did, it would have inflated up to 1.5 times the distance between it and Halla, engulfing the star, and then shrunk back down to its current size. Despite that dramatic and violent event, Halla has managed to persist, sticking around so that astronomers could see it using telescopes in Hawaii. “Planetary engulfment has catastrophic consequences for either the planet or the star itself - or both. The fact that Halla has managed to persist in the immediate vicinity of a giant star that would have otherwise engulfed it highlights the planet as an extraordinary survivor,” said Marc Hon, the lead author of the study. The findings are published in a new paper, ‘A close-in giant planet escapes engulfment by its star’, in the journal Nature today. Halla was found in 2015, using what scientists call the “radial velocity method”, which monitors how stars move and uses that to understand how they might be tugged around by the planets that orbit them. In the years since, scientists found that the planet must have been engulfed by the star, and conducted follow-up observations to better understand the planet. Those observations confirm that the planet had been in its stable orbit for over a decade, and that it really existed. “Together, these observations confirmed the existence of the planet, leaving us with the compelling question of how the planet actually survived,” said IfA astronomer Daniel Huber, second author of the study. But scientists still do not know how it survived. One possibility is that it started on a larger orbit before moving closer to its star, but astronomers believe that is unlikely. Another is that Baekdu was actually once two stars. They may have merged during their death, sparing Halla from being merged at all, by stopping them getting big enough to engulf it. And a separate possibility is that Halla was actually born out of the collision of the two stars. That might have produced a gas cloud that actually gave birth to Halla, and so it may be the result of the demise of its star rather than a survivor of it. Read More Nasa rover spots bizarre donut shaped rock on Mars Strange alien planet could be trapped in edge of the Solar System SpaceX Starship completes six-engine static test fire at base in Texas

The Hernando County School Board has closed its investigation into a Florida teacher who showed the Disney film "Strange World" to her fifth-grade class, according to a copy of the district's final report provided to CNN by Jenna Barbee, the educator.