China News by Thebittimes.Com

Binance faces significant user fund outflows and a drop in BNB value following the DoJ’s criminal charges and CEO Changpeng Zhao’s potential departure. Binance is seeing significant outflows from its exchange following the earlier news of the U.S. DoJ charging the leading exchange with three major crimes. Nansen, a blockchain analytics firm, reported a noticeable outflow from the exchange, as investors are withdrawing funds . Specifically focusing on the Ethereum ERC-20 network, Nansen observed a startling increase in net outflows, escalating from $10,000 to a staggering $45 million within just an hour. Since our first update on @binance, it appears that users are withdrawing funds from the exchange based on market rumors Netflow has gone from -$10K to -$45M over the past hour (Ethereum only)https://t.co/SikCRA6zl2 pic.twitter.com/cShuIJ76DN — Nansen (@nansen_ai) November 21, 2023 More details about Binance’s charges are set to be revealed today, as the DoJ is hol...

The US SEC has charged a New York-based investment adviser Titan with misleading disclosures related to client crypto assets. The US Securities and Exchange Commission (SEC) has declared formal charges against Titan Global Capital Management. The basis for these allegations centers around Titan’s purported failure to provide accurate disclosures surrounding their clients’ crypto assets due to non-compliance. A press release on Aug. 22 reveals that the said non-compliance events took place between August 2021 to October 2022. Today we announced charges against Titan Global Capital Management USA for using hypothetical performance metrics in ads that were misleading. This marks the first violation of the SEC’s amended marketing rule.https://t.co/W23wbvQBsV — U.S. Securities and Exchange Commission (@SECGov) August 21, 2023 In response to the charges , Titan Global Capital Management has reportedly accepted a cease-and-desist directive, agreed to an official cen...