Logo
Logo
  • Topics Icon Topics
    • AI Icon AI
    • Banking Icon Banking
    • Blockchain/DeFi Icon Blockchain/DeFi
    • Embedded Finance Icon Embedded Finance
    • Fraud/Identity Icon Fraud/Identity
    • Investing Icon Investing
    • Lending Icon Lending
    • Payments Icon Payments
    • Regulation Icon Regulation
    • Startups Icon Startups
  • Podcasts Icon Podcasts
  • Products Icon Products
    • Webinars Icon Webinars
    • White Papers Icon White Papers
  • TechWire
  • Search
  • Sign in
Reading
Global newsletter: Et tu, Binance?
ShareTweet
Binance CEO Changpeng Zhao speaks during a news conference at the Web Summit, Europe’s largest technology conference, in Lisbon, Portugal, November 2, 2022. REUTERS/Pedro Nunes
Binance CEO Changpeng Zhao speaks during a news conference at the Web Summit, Europe’s largest technology conference, in Lisbon, Portugal, November 2, 2022. REUTERS/Pedro Nunes
Home
News
Global newsletter: Et tu, Binance?

Global newsletter: Et tu, Binance?

John K. White·
News Roundup
·May. 24, 2023·2 min read

The following is an excerpt from today’s Global Newsletter.

Binance, as a surprise to no one, finds themselves the subject of a Reuters exclusive alleging they commingled customer funds with corporate accounts.

Despite official denials, the story highlights the feeling that the wild west of crypto exchanges is as rootin’-tootin’ as ever.

We’ve said in this space that CZ seemed to have protested too much, projecting public vitriol about a lack of transparency at FTX during that spectacular flameout and crash. 

Subscribe to the Global Newsletter

We also suggested the clock was ticking until a similar investigation outed alleged eyebrow-raising practices at Binance. There’s zero true insight into Binance’s activities, so speculation has been a professional sport for some pundits this year.

This scrutiny and skepticism is a natural result of pretending crypto doesn’t exist in the U.S., pushing companies offshore and into the regulatory wilderness. Americans will just use VPNs to transact and be vulnerable to bad actors thriving without real liability.

Until legitimate oversight and effective and fair regulation are in place, the fraud flood can continue unabated, and industry growth will be hamstrung.

loans

From Fintech Nexus

Share this article  Global Reputation matters for on-chain lending
By Isabelle Castro Margaroli   
While DeFi, could be powerful in improving lending, it has collateral limitations that on-chain reputation could solve.
Share this article  LatAm Neobanks expand their share in Brazil’s $1 trillion credit market
By David Feliba   
Digital banks in Brazil are finally making inroads into one of the most competitive and highly profitable credit markets in the world.

Also making news

  • LatAm: Citigroup to spin off its Mexico business after efforts to sell unit collapse Citigroup announced Wednesday it plans to pursue an initial public offering of its Mexico business, Banamex, making formal a long-telegraphed spinoff.
  • Global: Interoperability is key to unlocking the potential of CBDCs Central bank digital currencies (CBDCs) promise enormous potential for establishing a more dynamic and modern global financial infrastructure underpinned by blockchain technology. But as with any innovation, they must be designed prudently with interoperability in mind.
  • Europe: Klarna introduces credit opt-outs Klarna has updated its app to provide budget-conscious Brits with a tool to opt out of taking on more debt and called on credit card companies and other providers to follow suit.
  • USA: SoLo Funds faces a new consent order in Connecticut Earlier this month, the Office of the Attorney General (OAG) of the District of Columbia (DC) and the California Department of Financial Protection and Innovation (DFPI) penalized SoLo Funds for breaching a number of consumer protection laws and operating without required licenses.
  • USA: Daffy launches embedded fintech offering for charitable giving Daffy, a platform for charitable giving, announced the launch of its open APIs designed to make it easier to bring giving into financial budgeting and investing apps.
  • Global: Kiwi raises $80M: Fintech empowering Latino migrants Kiwi secures $80mn funding to empower underbanked Latino migrants in the US. Innovative fintech offers affordable capital and credit solutions.
  • John K. White
    John K. White

    John has been in communications since graduating from Creative Communications at Red River College Polytechnic in Winnipeg in 1992. He launched one of Canada's first digital-only local news sites called Winnipeg First in 2007, which led to digital editor postings with the Winnipeg Free Press and Edmonton Journal. In 2012 he joined Bankless Times as managing editor, later becoming president and CEO. He and the Bankless Media co-founders completed a sale and exit in August 2021.

    View all posts
Tags
BinanceGlobal newsletter
Related

Fintech Nexus Newsletter (June 11, 2024): Apple introduces Tap to Cash for iPhone to iPhone payments

Fintech Nexus Newsletter (June 10, 2024): Jelena McWilliams finds $85 million missing in Synapse fiasco

Fintech Nexus Newsletter (June 7, 2024): US Bank and Greenlight team up for for teen bank accounts

Fintech Nexus Newsletter (June 6, 2024): Robinhood acquires Bitstamp in a $200m deal

Popular posts

Today:

  • Photo of Raj Date ex CFPB“Traditional financial institutions do not thrive amidst chaos.” Feb. 27, 2025
  • Check-and-gusto-logoPayroll Is a Nightmare. Can Embedded Finance Fix It? Mar. 27, 2025
  • Jon StonaTips from Airwallex x McLaren on Making the Best of a Fintech Sponsorship  Jun. 18, 2025
  • PayabliFunded: Payments infrastructure co Payabli lands $28M Series B to AI-ify Jun. 20, 2025

This month:

  • WP UmbrellaTo Bank or Not to Bank: The ILC Question Jun. 5, 2025
  • DanMurphy-FN-headshotCFPB’s Next Open Banking Battle Begins Jun. 3, 2025
  • GreenliteAI-Alex-WillGreenlite AI is on a mission to revolutionize banking compliance Jun. 10, 2025
  • Current stablecoin adoptionWhy Banks (and Fintechs) Need to Embrace Stablecoins Today Jun. 12, 2025
  • SimonWu-CaptionCathay’s Wu: Secondaries now “a structural pillar” for VC liquidity, exits Apr. 3, 2025
  • ai-work-nexusWalkMe Vets Declare War on SaaS Bloat with $10M Seed for Autonomous Agents Jun. 10, 2025
  • Finfluencers(1)Tori Dunlap, Humphrey Yang, Taylor Price–Millions Flock to Finfluencers on TikTok, YouTube–and yes, Facebook–Amid Market Chaos May. 27, 2025
  • Ben Hemani, Founding Partner at Bison VenturesThe Risk and Reward of Betting Big on AI’s Next Frontier Jun. 4, 2025
  • Ironclad State of AI ReportThe Economics of AI Trust Jun. 11, 2025
  • VancouverWeb Summit Dispatch: Debate Rages Over AI Applications’ Human Impact  May. 28, 2025

  • About
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms
Subscribe
Copyright © 2025 Fintech Nexus
  • Topics
    • AI
    • Banking
    • Blockchain/DeFi
    • Embedded Finance
    • Fraud/Identity
    • Investing
    • Lending
    • Payments
    • Regulation
    • Startups
  • Podcasts
  • Products
    • Webinars
    • White Papers
  • TechWire, by Fintech Nexus
  • Subscribe
  • Contact Us
Start typing to see results or hit ESC to close
lis digital banking USA Lending Club UK
See all results