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Crypto

Circle CEO welcomes DJ Khaled to \'Team USDC\', stirring backlash in crypto community

Circle drew criticism after posting content that made rapper DJ Khaled appear to have joined “Team USDC”. The company and its CEO later shared the post, but it did not mention any sponsorship deal, ambassador role or payment. The backlash revived controversy over DJ Khaled’s past promotion of the Centra ICO. He paid more than $150,000 in penalties in an SEC settlement over failing to disclose paid promotion.

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.