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Donald Trump’s pick to lead the Commodity Futures Trading Commission (CFTC), Brian Quintenz, has revealed multiple ties to the crypto industry amid a staff exodus at the regulator due to the President’s pro-crypto stance. In a letter  released by the US Office of Government Ethics on May 25, Quintenz revealed his positions in crypto and market firms that would fall under the CFTC’s regulatory priorities.  One of his commitments is as a board member for the decentralized betting platform Kalshi, which settled a legal battle with the CFTC earlier this month. He is also currently the head of crypto policy at Andreessen Horowitz. Brian Quintenz Will Take Steps To Avoid Conflicts Of Interest In His New Role Given Quintenz’s roles at Kalshi and Andreessen Horowitz, his portfolio currently intersects directly with two main policy areas within the CFTC – crypto asset regulation and prediction markets.  🚨 Trump’s CFTC pick, Brian...

Binance will pay $2.7 billion and its former CEO Changpeng Zhao $150 million. The fine is part of the $4.3 billion settlement Binance agreed with the DOJ, FinCEN, OFAC and CFTC. A US judge has approved the $2.7 billion and $150 million fine that Binance and former CEO Changpeng Zhao agreed to pay as settlement with the Commodity Futures Trading Commission (CFTC). The fine is part of the $4.3 billion settlement Binance agreed with the DOJ, FinCEN, OFAC and CFTC in November. Zhao also resigned as Binance CEO as part of the settlement, and later stepped down from the Binance.US board. Binance to pay $2.7 billion and Zhao $150 million A press release by the CFTC announced that Judge Manish Shah of the District Court for the Northern District of Illinois had issued an order approving the settlement and concluding the regulator’s enforcement action against Binance and CZ. Per the court order, Binance founder Zhao will pay a $150 million fine, while Binanc...

Prominent crypto lender Celsius failed its users in 2022. Now, it is facing heat from the Commodity Futures Trading Commission [ CFTC ] yet again. At press time, Celsius and its former CEO Alex Mashinsky have been accused of breaking several U.S. laws. This was prior to the firm’s collapse. According to a Bloomberg report, the CFTC has determined that Celsius engaged in misleading practices toward investors. Furthermore, the report noted that Celsius intentionally chose not to register with the regulatory authority as required. Additionally, Mashinsky has been charged with violation of several regulations. If a majority of the agency’s commissioners concur with the conclusion, the CFTC may initiate legal proceedings in federal court. This could be done as early as this month. Also Read: Celsius : ‘Eligible Users’ Are Now Allowed To Withdraw Funds CFTC joins SEC and New York Attorney General in taking down Celsius On June 16, 2022, securities regulators fro...

Now that Sam Bankman-Fried has pleaded not guilty, US authorities are currently after FTX’s inner circle. Citing unnamed sources, a recent Bloomberg report revealed that former close FTX associate Nishad Singh is currently under the radar. If pro sec utors discover that Singh had a role in defrauding FTX and Alameda Research investors and clients, he could reportedly be charged “as soon as this month.” The source further revealed that the Securities and Exchange Commission and the Commodity Futures Trading Commission are also probing Singh. US authorities are ratcheting up pressure on Sam Bankman-Fried ’s inner circle, scrutinizing Nishad Singh , FTX 's onetime director of engineering https://t.co/H1uMwh3JNU — Bloomberg Markets (@markets) January 5, 2023 Caroline Ellison and Gary Wang, have already pleaded guilty to fraud in connection to their roles at Alameda and FTX . They are currently working with authorities.   Read...