binance built a substantial u.s. customer base. almost two years after by nance's founding, he told senior management the u.s. market represented 20 to 30% of the company's potential revenue. serving u.s. customers meant that binance was a u.s. financial institution. u.s. financial institutions must comply with u.s. law. zhao and other senior management at binance understood this. they understood the company was required by u.s. law to register with the treasury department as a money services business. they understood they were required by u.s. law to implement an effective anti-money laundering program. they failed to do either. instead, they concluded complying with u.s. law would stifle their efforts to grow binance profits, market share, and trading value. so rather than comply, binance facilitated billions of dollars of unregulated cryptocurrency transactions. it willfully enabled hundreds of millions of dollars of transactions between american users and users subject to u.s. sanctions. the platform accommodated criminals acro

and briefly, what do ou binance. and briefly, what do you make _ binance., what do you make of _ binance. and briefly, what do you make of the _ binance. and briefly, what do you make of the new- binance. and briefly, what do | you make of the new boss, the singaporean boscojell—o i singaporean bosco jell—o i think it singaporean boscojell—o i think it is very positive —— the singaporean boscojell—o it is a good choice. the new ceo is much more a traditional finance savvy and in touch with regulators and regulations in general, so he would probably take binance in a very good path moving forward. a very good path moving forward-— a very good path moving forward. , , �* ~ ., forward. justin d'anethan, thank you _ forward. justin d'anethan, thank you so _ forward. justin d'anethan, thank you so much - forward. justin d'anethan, thank you so much for- forward. justin d'anethan, i thank you so much forjoining us on the programme today. today is the biggest shopping day of the year in the us and around the world — black friday. the retail sector has a lot riding

i think it's a similar case that's happening here with binance.he new singaporean boss? i think it's positive, a good choice, it marks the difference between cz, who was prominent but crypto native. but the new ceo is much more traditional, finance—savvy and in touch with regulators and regulators in general so it would probably take binance in a good path moving forward. today is the biggest shopping day of the year in the united states, black friday. the retail sector has a lot riding on how much american consumers want to spend in the next 2a hours or so. while the us economy shows notable signs of strength these days, people are still feeling the pinch of inflation as well as high borrowing costs. we caught up with jcpenney�*s boss. we do see that our customers are absolutely facing the headwinds of inflation and so, there's a number of things we're doing. firstly, it's offering them pre—inflation prices. so, we looked at hundreds of holiday items in black friday items and we are offering those at the same or lower price than last year. the ot

let's turn our attention to binance now.have asked a federaljudge to ensure the company's founder and former chief remains in the united states until his sentence hearing in february. it comes after cz, as he is known, pleaded guilty to violating anti—money laundering laws. customers of the crypto currency exchange are beginning to worry about how the company will fair if mr zhao ends up facing jail time. how will binance fare without its founder and ceo, changpeng zhao? erin delmore has more on the story. binance's customers are absorbing the news and they're pulling their funds. the world's largest crypto exchange has seen outflows of around $1 billion in the last 2a hours. that is on the heels of news that its founder and ceo has pleaded guilty to charges of violating anti—money laundering rules and agree to pay a $50 million fine. binance agreed to pay a $4.3 billion fine. us attorney general merrick garland called it one of the biggest penalties ever obtained. the data comes from block chain analysis firm nansen and tha

d0 similar case happening here with binance.— similar case happening here with binance.- with binance. do you make of the new singaporean boss? i the new singaporean boss? positive, a good choice, but the difference between changpeng zhao who was prominent but crypto native but the new ceo is much more a traditional finance savvy and in touch with regulators and regulators in general so it would probably take binance in a path moving forward.- would probably take binance in a path moving forward. today is the biggest _ a path moving forward. today is the biggest shopping _ a path moving forward. today is the biggest shopping day - a path moving forward. today is the biggest shopping day of - a path moving forward. today is the biggest shopping day of the | the biggest shopping day of the yearin the biggest shopping day of the year in the united states, black friday. the retail sector has a lot riding on how much american consumers want to spendin american consumers want to spend in the next 2a hours or so. while the us economy shows no sign of all edible signs of strengt

we have seen the doj bring big cases against binance, ftx. treasury separately has increasingly taken actions against crypto players when it comes to money laundering or sanctions violations. they have not taken these actions in the market so far. what are your actions now for the doj and treasury going forward when it comes to crypto? are you thinking of deploying different types of strategies, especially since we are seeing growing national security concerns beyond, say, a financial stability concern when it comes to these crypto platforms. ag garland: i am going to let the deputy begin the answer for the justice department. dep. ag monaco: thank you very much for the question. first thing i would say is, these are incredibly complicated and resource-intensive and time-consuming cases. and so we need the resources and we are willing to and have come as we have shown today and in prior cases, deployed these resources. so we are always looking to add resources and agent investigators, prosecutors. second thing i would say is, you have seen bo

, that binance did not inform the u.s.ernment about over a period of years they're saying binance never once filed a suspicious activity report with the u.s. treasury. that's something that is pretty standard in the financial industry, not being done in the crypto space they say as a result, terrorist financing took place on the binance exchange including for groups like al qaeda, isis, hamas, and others. they're saying that ransomware was paid for on the binance exchange they're saying that child sexual abuse materials were paid for on the binance exchange by also saying all sorts of illegal activity including drug purchases were transferred on the exchange through scams and other illicit activity all of that is the reason why the treasury department is now imposing monitoring on binance which will get active reports inside the firm to understand what is going on in real time. monitoring has never been done before in the cryptocurrency space. we have seen that in other criminal allegations in corporate america. this will

now binance's pain one of the corporate penalties in u.s.ment concluded a three-year investigation by the justice department into the company in march this eft filed a complaint detailing how nonchalant the crypto company was about the terrorist users. the complaint claiming the chief compliance officer of the company turned a blind eye to terrorist transactions claiming in february 2019 after receiving information regarding hamas transactions on binance that terrorist usually send as large constitute money laundering and his colleague replied and barely by an ak-47 with 600 bucks, binance saying there were turning over a new leaf saying goodbye nance first launched it did not have compliance controls adequate for the company that it was quickly becoming and it should have, binance made misguided decisions and binance takes responsibility for the past chapter, and is not just terrorist groups like hamas they utilize binance for the criminal activities about 75% of the criminal transactions on binance, the justice department the treasury depa

government said that binance did not renounce its u.s.iness as it clamd and worked with charge u.s. customers to hide their locations in the united states. and the government sid the crypto exchange even developed a process to notify vip users if they were the subject of a law enforcement inquiry. what's more, binance allegedly facilitated terrorist financing for the likes of al qaeda, isis and hamas and served as one of the biggest receivers of ransom ware payments, failed to report transactions for that are kotdices, fraudulent koods and other contraband. zhao issued a statement saying he will take responsibility and posted a $175 million personal recognizance bond. the question is the sentence could be around 18 months, but it's anybody's guess what prosecutors will go for here. and then there is the big question around all of this, which is how much information is the united states now going to get on all these historic transactions on binance? there will be a treasure troveu binance. >> alex, remind me if you're a crypto skeptic guy,

cypto exchange binance -- crypto exchange binance and its ceo have pleaded guilty to criminal chargesor money laundering and u.s. sanctions violations. binance will pay more than $4 million in fines, with the ceo a to step down and pay $50 million as he awaits sentencing. su keenan joins me with more on this story. . u.s. authorities say that binance was funneling money to even hamas and other militant groups? >> binance admitted that it transferred money to hamas and other groups and it pled guilty to three counts, including anti-money laundering, operating an unlicensed money transferring business, and violating u.s. sanctions, including countries such as iran and syria. cz, as the ceo was widely known, pleaded guilty to the anti-money laundering charge and as noted agreed to pay a major $50 million fine. he also awaits sentencing. richard teng, a singaporean with a masters degree in finance from western australia, now succeeds the ceo. the company is being allowed to continue to operate. cz faces as many as 10 years in prison. however he is expected to get no more than 18 months un

we have seen binance dominance in the market dropping already. the question is, will there be new players that emerge? already we are seeing the launch of new exchanges in different jurisdictions looking to maybe take the market share and take advantage of new opportunity. the question is really, what jurisdictions will be most attractive? where will the liquidity be? right now still a lot of it is on binance. coinbase obviously has great liquidity for u.s. exchanges. it is a question of what new players will emerge. there are players currently in other parts of the crypto services stack that might be thinking, hey, this might be a good time to step into the exchange business. i think again, this is a wide open playing field after ftx, you know, melted down. there are not a lot of places left. i am personally very excited about seeing new players emerge and maybe traditional financial institutions. sonali: speaking of existing exchanges, i keep harping on coinbase because i asked brian armstrong yesterday how much influence they are seeing on the

binance agreed to pay a $4.3 billion fine. from block chain analysis firm nansen and that billion—dollar total does not include bitcoin. the exchange's native crypto currency, binance coin, also took a hit in value. mr zhao and his company's guilty pleas and the year—long investigation into binance, but the company continues operating under the leadership of senior binance executive richard teng. binance will also have a government appointed monitor and the company is required to ensure its in compliance with us laws and the exchange is still the world's largest, holding more than $65 billion of assets. erin delmore reporting there. finally, it's the thanksgiving holiday in the united states today. more than 40 million turkeys will be cooked and carved as americans sit down for their traditional dinner at a cost of almost $1 billion. but it's notjust big business in the us. expatriate americans all around the world will be celebrating. richard gladwin and his brothers run five restaurants in london and will be serving 1,000 th

binance made misguided decisions along the way.inance takes responsibility for this past chapter. liz? elizabeth:hill i vaughn, great reporting as always. let's welcome congressman tim burchett from house foreign affairs. it's great to see you again. your reaction to this, is the government on top of what's going on with cryptocurrency exchanges financing terror? is it on top of things like artificial intelligence, chatgpt and more? >> no, ma'am, they're not. it's the classic close the barn door after the cows have already left. if a company can awe pay $4 billion and walk away, you've got to wonder what else they're doing. and what we know, hamas and these other terrorist organizations have been using these type of of things because it's untraceable. and now -- and, of course, the mob has been using it, we saw that during covid. and new you're seeing it just compounded during all this terrorist activity. they're moving money around. it's very fluid, and of course, washington trying to regulate it, i serve on the a.i. committee tha

just this week, cristiano ronaldo teased on social media cooking something up with binance�*s.n figure making headlines this morning is elon musk, took aim at advertisers threatening to leave his social media platform x, formerly known as twitter. musk, known for his bluster and frequent irreverant comments, said advertisers were trying to "blackmail" him. to china now, where we'll get the latest health check on china's economy when factory data is released later today. the world's second largest economy will also anounce numbers on how the services sector is performing. china's manufacturing activity unexpectedly shrank in october, while services saw a slowdown in growth. i spoke to tim moe from investment bank goldman sachs earlier, and he gave me a sense of how the chinese economy is doing. the year started off well when the theme in the market was reopening trade and there was anindex reopening trade and there was an index rally over 50% from its low last november to the hyatt which turned out to be the end of january. hyatt which turned out to be the end ofjanuary. since h

.— up with binance.er well-known figure - up with binance. anotherl well-known figure making well—known figure making headlines this morning is elon musk stop he has taken aim at advertisers who threatened to leave his social media played form, but acts, formerly known as twitter. he is known for frequent and irreverent comments and has accused advertisers of trying to blackmail him. the loss of tesla in recent weeks has promoted what the white house has called anti—semitic and racist haze that make hate on x, and act for which mr musk has apologised but that has led to companies like disney and apple suspending their ad campaigns. it is all for the moment but stay with us on bbc news. voice-over: bbc news, - bringing you different stories from across the uk. this was the scene in mold just last month as storm babet swept across wales. but what can be done to protect properties like this from flooding? these defences are part of a former impound project in ammanford, a town classed as a flood high risk a

binance is, one time, biggest competitor.llars from customers and investors. take a listen to a.g. garlands takeaway on the prosecution of two major ceos in the world of crypto. >> the message here should be clear. using new technology to break the law does not make you a disruptor, it makes you a criminal. >> reporter: joining me now, ben mackenzie. actor, and the coauthor of easy money. cryptocurrency, casino capitalism, and the golden age of fraud. then, good to see you. happy holidays. crypto has a mystique to it. some expecting, like the title of your book, to make, quote, easy money. explain to our viewers why cryptocurrency, that industry, is you so often to facilitate criminal activity? >> good morning. happy thanksgiving to you, katie. why is crypto used to commit crimes? well, because it doesn't really do much else. it is used as a vehicle for speculation, basically gambling. you can gamble whether one cryptocurrency is gonna go up or down. it is really only other use cases crime. people can use it to send something

the justice department is requiring binance — justice department is requiring binance to pay $4.3 billionies and forfeitures. this is one — penalties and forfeitures. this is one of— penalties and forfeitures. this is one of the largest penalties we have — is one of the largest penalties we have ever obtained from a corporate _ we have ever obtained from a corporate defendant in a criminal_ corporate defendant in a criminal matter. mr corporate defendant in a criminal matter. corporate defendant in a criminalmatter. ~ criminal matter. mr zhao is one ofthe criminal matter. mr zhao is one of the most _ criminal matter. mr zhao is one of the most influential - criminal matter. mr zhao is one of the most influential figures l of the most influential figures in crypto. this is the latest development to roil the industry since his arrival, the ftx crypto exchange founder sam angerman fried was found guilty of money—laundering earlier this month. of money-laundering earlier this month.— of money-laundering earlier this month. , ~ , this month. open ai continues to be involved _ this month. open

we see certainly with binance what it will lead to. these are still allegation but it appears he will plead guilty. >> you tend to see that when there's a major development in technology, and, you know, my belief is open ai and ai is the biggest transformation al technology in decades, if not forever. the same really happened with crypto. crypto was going to completely change the way the money was going to be transferred, money was going to be used. it was going to replace currencies the governments were issuing, and, you know, and this particular exchange actually really exists outside of the united states, and that's why they're being accused of breaking sanctions, you know, issues of that nature. it was not regulated. and then when the u.s. started to regulate the american part of it, or the part that they could regulate, you know, they found all kinds of inconsistencies and things that should not be happening. >> liz: we're looking at a bitcoin pairing nearly all of its losses. that's pretty interesting here. right now we've got it

it comes just months after the collapse of binance former rival ftx, whose founder sam bankman-fried, was convicted of fraud and stealing $10 billion. >> these scandals rocking the crypto world. but many experts believe the industry will get back on its feet. >> there's also a lot of good people in the industry who are trying to turn the page and move on. >> us customers who had money in binance will have to wait for a lawsuit to be resolved to see what happens to their assets. the former ceo will be sentenced in february, facing up to 18 months in prison. lionel allison andrea, thank you. >> breaking overnight, the man known as the artificial intelligence whiz kid is headed back to openai. the company's board fired sam altman as ceo last week, reportedly due to concerns about transparency. but the move triggered a revolt with most of the company's employees threatening to quit. now altman is returning to lead the company. openai is getting a new board. time now for your wednesday weather. >> good morning. >> it is the busiest travel day of the year and for most of the nation, we're l

a year—long investigation into binance but the company continues operating.so have a government appointed monitor and the company is required to ensure it is in compliance with us laws and the exchange is still the world's largest, holding more than $65 billion of assets. the gas and oil industry needs to cut emissions by 60 percent by 2030 to keep global warming to an increase ofjust 1.5 centigrades. that's the conclusion of a report from the global energy watchdog, the international energy agency. the report was released before the united nations climate summit, or cop28, which begins in dubai next week. joining me now is tim gould — chief energy economist from the iea. tim, good to have you with us. i'm looking at the report, you call it a moment of truth for oil and gas producers. what do you mean by that? it is clearly going to be a big topic as the world meets in dubai. 28. the moment of truth is for the oil and gas companies to decide are they going to be partners in the fight against climate change or not? and some of the data we have suggests that fo

binance founder cz heading to a settlement with the u.s.f justice that would reportedly see him step down and plead guilty. the company would pay a more than $4 billion fine. son

ceo of binance, puts a guilty plea and steps down from binance to chinese cryptocurrency exchange hamas using binance to get money, the cryptocurrency exchange was being used to farm money to hamas saying small sums but it was enabling hamas to fund this war again china, behind it. >> yeah when i served in cia we used to focus a lot on the kinetic side of targeting terrorists all over the world we also tried to follow the money, because that is what binance terrorist operations hamas has extraordinary so he is if kaisted, transfer money through cryptocurrency, and with the assistance as you correctly point out of china. maria: the treasury department said binance enabled a range of illicit actors to transacting freely on platform hamas al-qaeda,jihad islamic state iraq and syria terrorist organizations received money through that exchange. >> i try to -- view in warped similar to vladimir putin whatever they are doing hurting united states no matter how bad a good day for them if that marines a relationship with iran china iran signed a 25 year partnership deal in 2021 china enabling ir

binance. with shmoney." >> jordan: no thank you.o leave my money in the real banks were nothing bad ever happens. moving onto president biden. polls show that he is not doing well with young people, who find him "sus," "mid" and deficient in rizz. all words i, a young person, know quite well.. but biden is probably hoping a new policy might win them back. >> the biden administration wants to eliminate so-called cord cutting fees. it would be done through a new proposed rule from the fcc, which would require cable and satellite tv operators to get rid of those early termination fees for subscribers. the agency says those fees really limit a customer's ability to choose the service they want. >> jordan: whoa, whoa, whoa. >> desi: whoa, whoa, whoa. >> jordan: so biden ants to make it easier for people to cancel cable? >> desi: this is a bad idea. and i am not just saying that because we are on cable. >> jordan: no, absolutely not. you are saying it because cable is the lifeblood of the american experience. cable is about family, tradit

the justice department is requiring binance to pay - is requiring binance to pay $4.3 billion in penaltieses we have ever obtained from a corporate defendant in a criminal matter. he is one of the most influential figures he is one of the most influentialfigures in he is one of the most influential figures in crypto. this is the latest div element to roil the industry since his rival sam bankman—fried was found guilty of fraud and money—laundering earlier this month. erin delmore there. some other business news now. after the shock dismissal of sam altman, openai directors are reportedly in talks for a possible reinstatement. according to reports by bloomberg and the financial times, the artificial intelligence company is exploring various options, including bringing mr altman back in his former position, or as a board director. almost every staff member at openai has threatened to leave, unless mr altman and co—founder greg brockman are reinstated. microsoft, the biggest investor in openai, has since offered him a job. chipmaker, nvidia, has said it expects a steep drop in its upcoming sa

. >>> and binance's ceo stepping down, pleading guilty to fraud charges.e the fallout from that. >>> the airline stocks flying high today in trading ahead of what's expected to be a record in holiday travel. we'll go back to o'hare for more. don't go anywhere. c'mon, we're right there. c'mon baby. it's the only we need. go, go, go, go! ah! touchdown baby! -touchdown! are your neighbors watching the same game? yeah, my 5g home internet delays the game a bit. but you get used to it. try these. they're noise cancelling earmuffs. i stole them from an airport. it's always something with you, man. great! solid! -greek salad? exactly! don't delay the game with verizon or t-mobile 5g home internet. catch it on the xfinity 10g network. >>> planning to shop this black friday, you are obviously not alone. thanksgiving day begins retail's busiest five day stretch of the year. kor courtney reagan is here with mr. rosenstein. morning. >> good morning. tomorrow begins retail's most important five day stretch of the year. new numbers from adobe suggest consumers are in th

binance prioritized its profits over the safety of the american people. garland and treasury secretary janet yellen say a sprawling investigation found binance allowed nearly 2 million transactions that violated u.s. sanctions, including ones involving hamas and isis supporting activities from the child abuse to illegal narcotics to terrorism. these officials say the transactions helped catapult binance to the top of the crypto industry. now binance is paying one of the largest corporate penalties in u.s. history. binance has agreed to pay more than 4 billion dollar settlement and its founder and ceo pleaded guilty to a felony involving money laundering and resigned. this will make all of for the justice department has now successfully prosecuted the ceos of 2 of the world's largest cryptocurrency exchanges in the earlier case, the founder of ftx was found guilty of fraud. the message here should be clear. using new technology to break the law does not make you a disrupter. it makes you a criminal. both of the former ceo sentencings are scheduled for earl

at the same time, it became known that binance was planning to leave the russian market.ets of spanish cities, the government has entered into a coalition with catalan separatists; to many demonstrators, such an alliance seems reprehensible; oleg kuzin will continue the topic. the capital of spain is on fire, garbage cans are burning , tin cans, bottles and firecrackers are flying at the police, law enforcement officers do not stand on ceremony, they use force without hesitation, they shoot with stun grenades and rubber bullets. among, in madrid, 8,000 people took to the streets, the majority gathered at the headquarters of the spanish socialist workers ' party, during the clashes... here is a fragment of a broadcast from spanish state television. here on madrid's firas street people have gathered, they are shouting slogans against pedro sanchez, against. people also came out in barcelona, ​​valencia, and granada, but there were no serious incidents there. in general, a wave of mass protests has been rolling across spain for the seventh day. it all started when the agreem

walk us through the crimes and accusations and binance's response. >> binance has been accused of quite a few things but in this instance, three charges, money laundering, operating unlicensed in the u.s., and u.s. sanctions violations. the ceo admitted to criminal charges. the binance exchange will pay $4.3 billion in fines. the ceo will pay 50 million. he is expected to face a jail sentence that will be deferred. it is not rosy at binance. kriti: something we will keep a close eye on. we talk about how much these exchanges are regulated and who they were helping fund, you can see there has been a next to push setting the regulation for the future. thank you for joining us with that update. we come back to the u.k., chancellor hunt will deliver his autumn statement later today. plans for boosting growth in the context of a likely u.k. general election next year. lizzy burden is all over the story. lizzy: at noon we will have the prime minister questions in parliament. then they autumn statement from the chancellor, jeremy hunt. he is under extreme pressure and in response to that the s

so, you know, if binance was part of the bitcoin pricing process, now binance is going to get cleanedoing to be a big factor in, you know, they can think, in the reliability of the spot price for bitcoin. >> i want to thank you for your perspective on all this. happy thanksgiving. >> thank you >> appreciate it >> you bet becky? >> still to come this morning, it is a "squawk box" tradition we'll get some tips and tricks to make the perfect turkey this holiday season with the butterball turkey talkline "squawk box" will be right back. >> announcer: time now for today's aflac trivia question. according to the usda, how many turkeys are consumed on thanksgiving tus.x"swer when "squawk bo rern ( ♪ ♪ ) who do you think taps out first? i think the duck goes the distance! alright, you about ready to get out? what's this? a hospital bill?! for a thousand bucks?! gaaaap! did this goat just say 'gap'? he's talking about expenses health insurance doesn't cover. but with aflac, you can get money to help close that gap. aflac, huh? -aflac! -ahhhh! okay! oh! duck - 1, goat - 0. get help with expense

to look at alleged money laundering and this would create an end to that saga for binance versus the department. we also know that binance has sought to minimize penalties and put forward an agreement that would put it to prosecution so long as it meets certain thresholds, usually a penalty, and statement of facts outlining what exactly happened here. this could come as soon as the end of the month. we do not know the total terms of the deal itself. again, it could be as much as $4 billion from binance to end the case and it would be worth the largest penalty is tied to crypto matter in the united states, let alone worldwide. caroline: the breaking news, we thank you so much. other news we are following for you, ask ceo has acknowledged that some advertisers are taking a break, a pause from the platform. this follows some outrage over antisemitic commentary and waste by the site -- possibly endorsed by the site's owner, elon musk. referencing a piece that said ads from big brands were being placed near offensive content. ed: coming up on bloomberg technology, bradley tusk joins us, w

also coming up — join me on binance! own—goalfor ronaldo?estors sue the football legend for a billion dollars over his promotion of crypto exchange, binance. plus — 12 months that changed the world — one year on from the launch of chatgpt, how is the boom in artificial intelligence transforming the way we do business? hello if you have just hello if you havejustjoined us, you are very welcome. i am sally bundock. i am sally bundock. we start in dubai, where, as you have been hearing, 167 world leaders and 70,000 delegates from business, charities and faith groups are gathering for the latest round of global climate talks, the conference of the parties or cop28. of the parties, or cop28. eight years ago, in paris, nearly 200 nations pledged to keep global warming "well below" two degrees centigrade above pre—industrial levels, and try to limit it to 1.5 degrees. but a recent un report has confirmed the world is not acting fast enough to achieve the paris goals. there is added controversy, this time around, given the event is hosted by one of

the justice department is requiring binance — justice department is requiring binance to pay $4.3 billiond forfeiture is. this— penalties and forfeiture is. this is_ penalties and forfeiture is. this is one of the largest penalties we have ever obtained from _ penalties we have ever obtained from a _ penalties we have ever obtained from a corporate defendant in a criminal— from a corporate defendant in a criminal matter.— criminal matter. he's one of the most — criminal matter. he's one of the most influential- criminal matter. he's one of the most influential figuresl criminal matter. he's one of. the most influential figures in the most influentialfigures in crypto. this is the development to rail the crypto industry since his arrival, sam bank been freed, was found guilty of fraud and money laundering earlier this month. artificial intelligence pioneer 0penai continues to be engulfed in chaos after the shock ousting of chief executive and founder sam altman on friday. most of the company's workers have threatened to quit unless he is reinstated. they also want the board to be fired. bu

the founder and a -- binance story. ceo is stepping down after pleading gil guilty to money laundering laws and other sanction, using the exchange to in part help finance hamas back in 2019. he is now appointing richard tang of the new head of binanc. if i wanted to buy crypto, is it safe to do so anymore, is bitcoin you now complicit with hamas, is crypto complicit, now that we know hamas used binance to get money to fund their war. >> there's a couple things going on. maria: don't forget the china story. the china angle is really important. once again we see disruption in america, the crypto disruption, partly with china's fingerprints on it, binance. >> you hit the nail on the head, maria. you've shining a spotlight on china's complicitness, the fact that china has been behind so much of the money movement around the world that enabled things like this to happen. it's something you've been talking about for months. you have b with inance a chinese owned company that is fined $4.3 billion because it funneled money to

binance prioritized its profits over the safety of the american people.nd and treasury secretary janet yellen say a sprawling investigation found binance allowed nearly 2 million transactions that violated u.s. sanctions, including ones involving hamas and isis supporting activities from the child abuse to illegal narcotics to terrorism. these officials say the transactions helped catapult binance to the top of the crypto industry. now binance is paying one of the largest corporate penalties in u.s. history. binance has agreed to pay more than 4 billion dollar settlement and its founder and ceo pleaded guilty to a felony involving money laundering and resigned. this will make all of for the justice department has now successfully prosecuted the ceos of 2 of the world's largest cryptocurrency exchanges in the earlier case, the founder of ftx was found guilty of fraud. the message here should be clear. using new technology to break the law does not make you a disrupter. it makes you a criminal. both of the former ceo sentencings are scheduled for early next

goodbye, binance — the boss of the world's biggest crypto exchange steps down over money laundering chargeson friday, he was out. by monday, he was off to a new research group at microsoft. and by 1am this morning, sam altman was back as the ceo of openai — a dizzying, whirlwind few days in tech, which surely cements altman's position as one of the foremost figures in artificial intelligence — if he wasn't already. the turning point was an open letter signed by almost all the employees, some 700 of them, demanding his return. hard to imagine how the existing board would prevail if the entire workforce — including some of al's brightest coders — were proposing to walk out the door. the company — which created the popular app chatgpt — says it is also shaking up the board. greg brockman, the co—founder and president, is back. out go two of the board members who called for altman's ouster, and in comes a new chair, the former sales force ceo bret taylor, and someone bryan will know well, the former treasury secretary, larry summers. joining me now is melissa heikkila, who is a senior reporter

gains are modest across the board when it comes to ethereum, binance and others.richard carrin says he is in no rush to reshape the company's top leadership team and he told us how they plan to move on from legal troubles after the man known as cz was forced to step down. >> indeed, the trust of the thousands of employees that we have, which i hold very dearly. without their trust, i wouldn't have taken up this rule. this role, given the changing and maturing industry, it is much more regulated, it requires us to continue to work with all the important stakeholders that i mentioned. to continue to push ahead and enhance the growth of the industry. so item very confident that -- i am very confident that we will continue to grow. i use all my experience, my endeavors, to make sure that we succeed in the future. >> will he maintain his current executive role at the firm. >> continuity is very important. we have strong expertise of quality. at the same time, we continue to make investments into intellectual human, talent which is very important for our industry becaus

it comes just months after the collapse of binance.l ftx, whose founder sam bankman-fried, was convicted of fraud and stealing $10 billion. the scandals rocking the crypto world. but many experts believe the industry will get back on its feet. >> there's also a lot of good people in the industry who are trying to turn the page and move on. >> us customers who had money in binance will have to wait for a lawsuit to be resolved to see what happens to their assets. the former ceo will be sentenced in february, facing up to 18 months in prison. andrea fujii, abc news, new york. >> a former san jose police officer who sent racist text messages has been decertified, according to the california commission on peace officer standards and training website it mark mcnamara certification is under temporary suspension. when mcnamara resigned earlier this month after an internal investigation uncovered the messages. the santa clara county da is also reviewing cases involving mcnamara. that includes the controversial shooting in downtown san jose. wh

we will talk about the fallout of the binance ceo pleading guilty.kailey: it's time for wall street be where we take a look at what's buzzing on wall street and today we are looking at decentralized finance. we are looking at the latest crypto crisis. yesterday sonali basak spoke about the head of binance pleading guilty. >> is an opportunity for the industry to turn the page and say that some of the rules are clear and the issues that binance had but some areas of the law are not yet clear and we need to get that regulatory clarity that there is a future for this industry in america and not just offshore. kailey: you covered this all day yesterday. we have had a lot of the poster children of crypto taken out of the picture. where does this leave brian armstrong? sonali: he looks like the last man standing and he has taken to the public and really affirm coinbase presence in the united states trying to work with regulators. they have a separate issue with sec operating as an exchange. they are presenting a roadmap on what crypto can look like moving

ed: another story we are watching is binance.er its ceo changpeng zhao pleaded guilty to anti-money laundering and sanctions violations under a settlement with the u.s. allowing the crypto exchange to continue operating. coinbase ceo brian armstrong joined bloomberg tuesday to discuss. brian: this is a vindication of the long-term strategy coinbase has taken to build a trusted, regulated company. going back to 2012 we decided to do that and got the licenses and teams in place necessary to run that type of company. every few years we saw a new type of company come on the scene that did not take that approach. sometimes they would grow very quickly because they were able to offer products we did not think were legal. inevitably, they come crashing down. regulators eventually act, even if they don't act quickly. that is what we saw in this case today. it has not only been an opportunity for coinbase to step in, but an opportunity for the industry to turn the page here and say, yeah, some of the rules are clear around aml, ky see, oh

binance faces three criminal charges. talk about violating sanctions here, starting as early as 2017. they talk about a defendant, which is binance willfully violating the bank sanctions, facilitating billions in crypto transactions without implementing any oversight the defendant says that he will not work with the company or speak about it through any future attorneys, agents or other people authorized to speak about it he is in court, guys, in seattle, washington. we are waiting what comes out of that, but, again, he's pleading guilty the biggest crypto exchange in the world. richard tang will be the interim ceo at this point. that's the latest there. >> kate, thank you very much for bringing that to us. if you are curious about bit coyne, down 1.5% >>> and the irs today may have have a lot of americans breathing a sigh of relief robert frank has the details robert >> kelly, millions of americans giving thanks to the irs this week, because that's the -- the agency will delay a rule on income received over paypal, venmo

binance will continue to operate with a new ceo.vestigation is underway after an 80 plane overshoots a runway in hawaii and lands in the water. we will have the details next. one simple member card that opens doors for what matters. what if we need to see a doctor away from home? we got you — with medicare advantage's largest national provider network. only from unitedhealthcare. the long-lasting scent of gain flings made it smell like dave was in his happy place... ...the massage chair at the mall. but...he wasn't. gain flings with oxi boost and febreze. when my doctor gave me breztri for my copd things changed for me. breztri gave me better breathing, symptom improvement, and reduced flare-ups. breztri won't replace a rescue inhaler for sudden breathing problems. it is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. don't take breztri more than prescribed. breztri may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain

yvonne: the ceo was the face of binance, right?t does this company look like now without him and with the new ceo? su: it is important to remember he was perhaps the sole individual that brought cryptocurrency into the mainstream. again, he is out of the company for the next three years. they had a regional markets outside the u.s. now assumes responsibility for running the company. made a post on x, the platform formerly known as twitter, to reassure investors of the safety of their assets. david: su keenan in new york, getting us up to speed on what happened and what is next. just a brief look at some of your crypto-related currencies and stocks. plenty i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dram