Search results for Richard Teng
Crypto
Circle raises $100 million from Binance to boost USDC global expansion
Binance is investing $100 million in stablecoin issuer Circle and will support the spread of USDC on its platform for five years. Under the agreement, Binance will buy $100 million worth of Circle shares at $80.84 per share, with a lock-up of up to two years with some exceptions. Circle will pay Binance a monthly incentive fee linked to USDC balances. Circle shares rose more than 1 percent in premarket trading on Sept. 22.
Crypto
Binance back in spotlight over suspected Iran sanctions breaches as U.S. prosecutors probe
Binance is under investigation by U.S. federal prosecutors over possible violations of sanctions against Iran. The probe is led by the Manhattan U.S. attorney’s office, with the Justice Department’s criminal division also reviewing the matter. Authorities are examining whether Binance overlooked certain transactions and are reviewing the company’s compliance system. The scrutiny follows a 2023 settlement in which Binance admitted violations and paid about $4.3 billion in penalties.
Crypto
U.S. seeks forfeiture of $61 million in crypto tied to alleged Iran oil payment laundering via Binance accounts
U.S. federal prosecutors are seeking civil forfeiture of about $61 million in cryptocurrency they say is linked to proceeds from Iran’s black-market sales of sanctioned crude oil and petroleum products. Prosecutors filed a civil complaint and alleged the funds could have been used by Iran’s government, military and the Islamic Revolutionary Guard Corps. The complaint names two China-linked firms and identifies an interconnected wallet network that allegedly moved more than $1.5 billion.
