Binance – WireUp

Binance Launches Web3 Wallet to Make Web3 Accessible to Millions of Users

November 8, 2023 Published by TheBlockchainExaminer.com

Binance, the global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume, is excited to announce the launch of its Web3 Wallet. The product, which was officially unveiled today during the company’s flagship Binance Blockchain Week conference in Istanbul, aims to meet the demand for a simple, convenient and secure way to experience the world of Web3. Millions of Binance users can now explore and experience Web3, without the risk of losing seed phrases or struggling with complicated onboarding processes.

Serving as a digital gateway to Web3, Binance’s Web3 Wallet is a self-custody crypto wallet built within the Binance app. With this latest launch, users now have access to a secure and streamlined method to swap thousands of tokens across various networks at great prices, explore a variety of decentralized applications (dApps), quickly transfer funds between exchange and wallet, earn yield on their crypto and more, all in one secure wallet.

“Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance,” says Changpeng Zhao (‘CZ’), CEO and Founder of Binance.

For most users, Web3 is complex. The Binance Web3 wallet is designed with user experience as the top and foremost priority, with the goal of making Web3 more accessible and easier for users to get started. Users, regardless of whether they are new to crypto or are already experienced traders, will find value in using Web3 Wallet. The main advantages of Web3 Wallet include:

Unparalleled Simplicity: Built directly into the Binance mobile application, users can create and activate their Web3 Wallet in seconds. The seamless integration means that users can access dApps and DeFi features directly within the Binance interface, without needing to juggle across platforms. The use of Multi-Party Computation (MPC), an advanced security technique, also removes the need for users to manage or memorize seed phrases without compromising on the benefits of security and self-custody.

All-In-One Convenience: Putting one’s idle crypto to work and earning interest on assets becomes much more accessible and seamless with the Web3 Wallet. There is a suite of innovative Earn and DeFi services within the Web3 Wallet to allow users to receive rewards from their digital assets. Binance’s Web3 Wallet is also the hub for users to explore various dApps, purchase cryptocurrencies through the Swap function at great prices thanks to deep liquidity and low slippage, and perform cross-chain trades across various networks at the tap of a button.

Robust Security: Protecting users and their assets is a key priority. With MPC technology, a user’s private keys are broken into three smaller parts known as key-shares. Having the key-shares split across three different locations mitigates the risk of the keys being compromised and reduces the vulnerability of the system. Two out of the three key-shares are controlled by users, which is intentional as Web3 Wallet is self-custodial. Funds held in the wallet are exclusively owned and accessible only by the user. Enhanced security features, such as wrong address protection and malicious contract detection, are also incorporated to notify users if a token or blockchain address carries a security risk at the time of the transaction.

CZ added, “Much as we believe Web3 will improve the freedom of money around the world, our industry must continue to build tools that onboard and protect users while also reducing friction for them. To help drive Web3 adoption, we have to identify and plug the gaps between centralized and decentralized systems. Binance’s Web3 Wallet lowers the barriers of entry for users to achieve full self-custody of their assets and it is an important, convenient bridge towards DeFi empowerment. Ultimately, our priority is to ensure users can explore Web3 with us within a user-friendly and protected environment.”

Richard Teng, Head of Regional Markets at Binance, also shared, “The overall aim when designing our Web3 Wallet is to help elevate the current user journey of experiencing Web3. We want our users to be assured that they are interacting with Web3 within a secure and protected ecosystem. That is why we have incorporated MPC technology as well as Binance’s trusted security infrastructure within the Web3 Wallet. The common stress of worrying about losing one’s seed phrase is removed, so that we can introduce a secure and smooth entry point for millions of users to safely and easily explore the Web3 universe.”

Binance Web3 Wallet is developed in partnership with the product and engineering team at Trust Wallet, and utilizes the same wallet technology layer services. Despite this coupling, Binance maintains autonomous control over Web3 Wallet’s features, operations, and services. To ensure a seamless experience with the newly launched Web3 Wallet, users are able to reach out to Binance’s 24/7 Customer Support to assist with any questions or help needed.

Binance Blockchain Week Announces Impressive Speaker Lineup for November Conference in Istanbul

October 5, 2023 Published by TheBlockchainExaminer.com

The global blockchain ecosystem behind the largest cryptocurrency exchange by trading volume, Binance, today announced the first wave of speakers for its annual flagship conference Binance Blockchain Week in Istanbul from November 8 to 9, 2023.

Rachel Conlan, Chief Marketing Officer at Binance, shared: “We are very excited and are looking forward to welcoming the global crypto community to the beautiful city of Istanbul. This is the place to be for blockchain and crypto enthusiasts. In recent years, Turkey has emerged as a promising crypto hub within the region and globally. Turkey stands out as a country with one of the highest crypto adoption rates globally, at around 12 percent now. There’s also a vibrant and inclusive crypto community and startup culture in the country, where the future of blockchain is welcomed with open arms. This makes Turkey the perfect place to learn more about blockchain, share best practices, and chart the new era of finance together.”

With the theme of “The Next Billion: Empowering the Future of Web3,” Binance Blockchain Week Istanbul will focus on the future of Web3, including how blockchain and crypto can empower the next billion people to improve their everyday lives.

The lineup of speakers features innovators, policymakers and industry thought leaders, business influencers, entrepreneurs, including Yat Siu, Chairman and Co-Founder of Animoca Brands; Faruk Eczacıbaşı, President of Turkish Informatics Foundation; Alexandre Dreyfus, Founder and CEO of Chiliz; Sebastien Borget, COO and Co-Founder of The Sandbox; Pär Helgosson, Head of Web3 and Metaverse at Paris Saint-Germain; Eowyn Chen, CEO of Trust Wallet; Shane O’Connor, Innovation Manager for Emerging Tech at UNICEF; and many more. Attendees will also have the opportunity to hear directly from Binance’s senior leadership team including its Head of Regional Markets Richard Teng and Chief Marketing Officer Rachel Conlan.

“We’re always focused on helping the industry to continue building and maturing in collaboration with other industry players, and conferences like this are pivotal to making that possible,” added Rachel.

This conference aims to provide a platform for people to engage in valuable conversations around Web3 and the latest industry innovations, trends and issues — evoking ideas, facilitating development, making connections, and finding solutions to challenges. Turkey, where traditional finance embraces the future of blockchain, becomes the backdrop.

Thousands of individuals and many notable organizations from all over the globe are expected to join Binance in Istanbul, Turkey this year.Over the coming weeks, Binance will be unveiling more details including influential speakers to catch as well as the full conference agenda through its official channels and event landing page.

Tickets are on sale now, with early bird specials available for a limited period of time.

The upcoming conference in Istanbul follows the incredible successes of Binance Blockchain Week in Dubai and Paris last year. Follow Binance for more information and updates on the conference. For sponsorship and partnership opportunities, please reach out to the events team at [email protected].

Binance Announces Global Advisory Board

September 22, 2022 Published by TheBlockchainExaminer.com

Binance, the world’s largest cryptocurrency exchange by trading volume, is pleased to announce the creation of its new Global Advisory Board (GAB), comprised of distinguished experts in public policy, government, finance, economics, and corporate governance.

The Global Advisory Board, chaired by former US Senator and Ambassador to China, Max Baucus, recently convened in Paris, France. The board’s purpose is to advise Binance on some of the most complex regulatory, political, and social issues the entire crypto industry faces as it grows and evolves at a fast pace.

“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3,” said Binance founder and CEO Changpeng Zhao. “In that time, we’ve tackled complex issues no one even knew existed. We’ve maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users, while keeping a brisk pace of socially-beneficial innovation. The GAB represents the next big step forward in our journey to share the benefits of modern finance and the blockchain with the entire world.”

“Of all the technologies with the potential to create positive disruption, the world of crypto, blockchain, and Web3 is among the most exciting and the most promising,” Baucus said. “That’s why it is a great pleasure to participate in setting up the Binance Global Advisory Board, and bringing the group’s unrivaled collective expertise to bear in solving complex problems with a socially positive outcome.”

Binance is harnessing the GAB’s unrivaled collective experience and expertise to benefit the sustainable development of the industry as a whole, by weighing in on the toughest and most sensitive regulatory and compliance issues facing crypto, blockchain, and Web3.

“We always put our users first, and that’s served as a very effective North Star for us over the past five years of unprecedented, exciting growth,” Zhao said. “With the GAB, we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available anywhere in the world. This collaboration between Binance and the leading experts of the GAB is a testament to our focus on compliance, transparency and ensuring a collaborative relationship with the world’s regulators as they develop sensible regulations worldwide.”

The GAB’s roster includes:

Max Baucus USA	Former U.S. Ambassador to the People’s Republic of China; Former U.S. Senator Montana; Former Chairman of Senate Committee on Finance
Ibukun Awosika Nigeria	First Female Chairman, First Bank of Nigeria; Founder, The Chair Centre group; Chairman, Nigerian Advisory Board, for Impact Investing and Convention on Business Integrity; Member G7 International Task Force for impact investing; Author of several books
HyungRin Bang Korea	Advisor of the Korea Presidential Committee; PR/Communications Advisor of Yoon Seuk-Yul’s 2022 Presidential Campaign; Former CEO, SoftForum Inc.; Former Executive Director, Hyundai; Former Executive Director, Samsung;
Bruno Bézard France	Managing partner of Cathay Capital; Former Economic Advisor to the French Prime Minister; Former Head of the French Treasury; Former CEO of the French Government Shareholding Agency
Leslie Maasdorp South Africa	Vice President and Chief Financial Officer of the New Development Bank. Former MD and President for Southern Africa at Bank of America Merrill Lynch. Former Vice Chairman of Barclays Capital. Former International Adviser to Goldman Sachs.
Henrique de Campos Meirelles Brazil	Former Minister of the Economy, Former President of the Central Bank of Brazil, Former Chair of J&F’s board of directors, Former Member of the Board of Directors of Azul Brazilian Airlines, Former President, Bank Boston; Former President of Global Banking, Fleetboston Financial; Former Board member, Raytheon Corporation, Bestfoods and Champion International. Former Member of the Council of Lloyd’s of London; Former Chairman of Lazard Americas.
Adalberto Palma Mexico	Honorary Board Member of The Aspen Institute Mexico; Former Senior Advisor at the Chief of Staff Office to the President of Mexico; Director of Business Development at BEworksMX Consulting; Former President of the CNBV; Founding Chairman of The Center for Excellency in Corporate Governance. Independent Director of the Institute for Savings Protection; President of Bankers Trust Mêxico, Colombia and Venezuela; Managing Director of Citibank Mexico.
David Plouffe USA	Business, Non-Profit and Political strategist; Author, Member of Various Boards of Directors; Former Campaign Manager Senior Advisor to President Obama in the White House
Christin Schäfer Germany	Founder and Managing Director of acs plus; Former Group Risk Operating Officer, Erste Group Bank; Former Global Head of Quantitative Solutions, Deutsche Bank, Member of the Data Ethics Commission, German Federal Government
Lord Vaizey UK	Member of the House of Lords; Former Minister and Member of Parliament
David Wright Europe	Chair, EUROFI; Former Secretary General, IOSCO, Former European Commission; Deputy Director General Financial markets, European Commission

BINANCE BAHRAIN FIRST CRYPTO-ASSET SERVICE PROVIDER TO BE GRANTED FULL CATEGORY 4 LICENSE IN THE KINGDOM OF BAHRAIN

May 26, 2022 Published by TheBlockchainExaminer.com

Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, today announces that Binance Bahrain has received a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB), allowing it to offer a full-suite of crypto exchange services in Bahrain. Binance Bahrain is the first exchange to be granted a category 4 license by the CBB.

Richard Teng, Head of MENA at Binance, said: “The upgrade to a Category 4 license in the Kingdom of Bahrain is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange. This will allow us to provide the full suite of products and services that users have come to expect from an exchange, in a safe and well regulated environment.

“We are grateful to the Central Bank of Bahrain for their support and vision in granting Binance Bahrain this license. Bahrain is well on the path to becoming a leading global hub for crypto.”

The Category 4 license will allow Binance Bahrain to provide a full range of crypto-asset exchange services to customers under the supervision of the Bahrain regulators.

Binance Launches Payments Technology Company, Bifinity

March 7, 2022 Published by TheBlockchainExaminer.com

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the launch of Bifinity, a payments technology company and its official fiat-to-crypto payments provider. Bifinity’s on- and off-ramp solutions will empower businesses to adopt crypto and reach new audiences with easy, direct fiat-to-crypto transactions.

The announcement comes as Bifinity also announced that it has entered into a strategic partnership with EQONEX Limited (NASDAQ: EQOS). As the first digital asset firm with an exchange to be publicly listed in the U.S., EQONEX offers regulatory-focused trading services centred around the EQONEX crypto exchange, institutional-grade digital asset investment solutions, including an asset manager together with the pending launch of exchange-traded products and structured products, and Digivault, an FCA-regulated high-security crypto and digital asset custody solution.

Under the terms of the strategic partnership, Bifinity will advance a US$36 million convertible loan to EQONEX and will work together to maximize business synergies created by this new strategic relationship and capitalize on opportunities to cooperate and further expand their businesses.

In addition, Bifinity announced that it has partnered with leading specialized payments platform, Paysafe and leading global payments processor, Checkout.com, to grow the Web3 economy by expanding cryptocurrency access globally and enabling users to buy and sell crypto safely. From launch, users will be able to buy and sell more than 50+ cryptocurrencies through fiat on- and off-ramps in a fast, simple and secure way.

“As the crypto and the Web3 economies continue to grow, we see greater demand to build improved fiat-to-crypto on- and off-ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy. Binance’s vision is to increase the freedom of money globally and through the launch of Bifinity, and with these strategic partnerships with EQONEX, Paysafe and Checkout.com, we aim to accelerate mass crypto adoption,” said Helen Hai, President of Bifinity.

Chi-Won Yoon, Chairman of EQONEX said today, “We are extremely pleased to team up with Bifinity in a partnership that is likely to be transformational for both companies and for the industry at large. Bifinity shares our strong belief in helping to bridge the world of traditional finance with cryptocurrencies, as well as our conviction to operate to the highest standards of investor protection, regulatory oversight, security and governance. This transaction marks the next logical step in our company’s evolution, representing an important opportunity to grow our footprint and expand our regulated offerings for the benefit of our customers and shareholders.”

Bifinity’s payments infrastructure connects businesses, merchants and consumers to the world of crypto and blockchain – including buy/sell crypto services and API crypto payments integrations. By providing straightforward APIs that require minimal expertise, merchants and businesses, regardless of experience, can integrate Bifinity’s intuitive services and provide accessible crypto for their customers.

“We expect global e-commerce to continue outpacing the growth of traditional commerce—especially with the adoption of cryptocurrencies and NFTs,” said Max Rothman, VP of Crypto at Checkout.com. “Our payment rails already power the world’s leading crypto exchanges, representing almost 80% of the global trading volume. And that’s why our foundational partnership with Bifinity and the Binance platform is so important. Together we are lowering the barrier to entry for merchants to accept and make their first cryptocurrency transactions, and enabling them to seize the great Web3 opportunity that lies ahead.”

Through these partnerships, Bifinity will upgrade its on-ramp payments processing infrastructure, with future plans to integrate enhanced fraud detection. Paysafe will bring to Bifinity deep regulatory know-how of fiat-to-crypto payments. Paysafe’s embedded finance solution, which acts like a white label Bifinity digital wallet, has strengthened it’s on- and off-ramp capabilities and already enabled Bifinity to reactivate SEPA bank transfers and Faster Payments. Moving forward, through Paysafe, Bifinity will look to expand into Latin America where it has a market leading real-time payments offering and is in plans to integrate Paysafe’s card processing service in the UK and Europe over the next few months.

Philip McHugh, CEO, Paysafe, said: “Binance is a true leader in crypto, NFTs and the fast-emerging Web3 through innovative products and services that customers truly love. With the launch of Bifinity, they are now taking their growth to the next level. Paysafe is proud to partner with Bifinity providing a full range of payment solutions, as well as leveraging our deep regulatory and compliance capabilities. Starting with digital wallets and real-time banking solutions, we look forward to expanding the relationship with more products and geographies as we help the team achieve their growth ambitions.”

Bifinity was established in 2021 and has been powering Binance’s fiat-to-crypto on- and off-ramps, processing millions in transactions globally for Binance.com users and charging low payment processing fees to its merchants.

BINANCE AND CUSCAPI BERHAD TO TAKE STRATEGIC STAKES IN MX GLOBAL

March 1, 2022 Published by TheFintechBuzz.com

MX Global Sdn. Bhd. (MX Global) today announced an equity investment into the company from Binance, the world’s largest digital asset and blockchain ecosystem. In addition, MX Global also landed another investment for Redeemable Convertible Preference Shares (RCPS) into the company by Cuscapi Berhad, a pioneer digital business solutions provider in Malaysia.

These new capital injections will allow MX Global, a licensed fintech company, to build brand awareness, hire more high-quality talent and develop new features within Malaysia’s regulatory framework.

MX Global is one of the four Recognized Market Operator-Digital Asset Exchange (RMO-DAX) that has been granted full approval by the Securities Commission Malaysia (SC) in July 2021 and complies with the standards and practices to uphold investor protection in conducting safe and secure trading of digital assets in the country. MX Global offers solutions for users to store and trade digital assets under compliant and safe cyber-security environments including a regulated local digital asset exchange.

CEO of MX Global, Dato’ Fadzli Shah said, “MX Global aspires to be the preferred liquidity platform for digital assets locally and internationally. The cooperation of Binance will not only support us in achieving this goal but should also provide the most capital-efficient opportunity for us to align and compete with other global players in the industry. We will continue building a safe, easy and real digital asset ecosystem for our customers.”

With this initial effort to support sustainable growth in the digital asset market in Southeast Asia, Binance hopes to work with regional and local partners to drive further collaborations.

Changpeng Zhao (CZ), Founder and CEO of Binance, said, “We see potential in Malaysia given its respected and innovative digital asset and blockchain community. We believe that partnering with MX Global will be a springboard to new opportunities, both in Malaysia and the region as a whole as well as across the entire digital asset and blockchain ecosystem.”

Speaking on the investment from Cuscapi Berhad, Dato’ Fadzli Shah expressed his excitement in working together with the major digital business solutions provider that holds an extensive list of well-known clients.

“I believe that this cooperation will not only expand the potential services that MX Global can offer in the future, but it will also allow the company to innovate and revolutionize the payment system in Malaysia,” commented Dato’ Fadzli Shah.

Cuscapi Berhad Executive Chairman, Datuk Jayakumar Panneer Selvam stated, “this historic collaboration between digital assets and payment systems will create integration and synergy that will bring together the high potential of the use of digital assets to conduct commerce. With blockchain and smart contracts being increasingly incorporated into our lives, the potential for this will be massive.”

The strategic cooperation further demonstrates the continuous growth and development of the digital assets industry, which will bolster the market in Malaysia and South-East Asia. The investments from two major players, Binance and Cuscapi Berhad, will allow MX Global to venture into a much bigger clientele pool. This will also no doubt propel MX Global to become the major player in the industry.

BINANCE SECURE ASSET FUND FOR USERS VALUED AT $1BN

January 31, 2022 Published by TheBlockchainExaminer.com

Binance, the world’s largest crypto and blockchain infrastructure provider, today announced that it has updated its Secure Asset Fund for Users valued at US$1 Billion.

The Secure Asset Fund for Users (SAFU) is an emergency insurance fund that was established by Binance in July 2018 to protect users’ interests. When the fund was established, Binance committed a percentage of trading fees in order to grow it to a sizeable level to safeguard users interests.

Changpeng Zhao (CZ), Founder and CEO of Binance said: “At Binance we always said ‘funds are safe’, and today the Binance Secure Asset Fund size acts as an effective safeguard as well as protection for users against such unlikely issues. Coupled with our state of the art security, we are confident that our user’s interests are well-protected.

CZ added: “Transparency is an important element of building trust, which is why we are publishing our insurance fund wallet address. We call on all centralised exchanges to do the same as it will benefit the entire ecosystem and demonstrate to governments, regulators and important stakeholders our collective commitment to uphold trust, integrity and transparency in the crypto ecosystem.”

When the Secure Asset Fund for Users was first established in 2018, Binance began allocating 10% of all trading fees to provide insurance for potential security breaches. Moving forward, Binance will continue to monitor the size of the SAFU in order to ensure the fund size remains adequate to protect users interests.

The Secure Asset Fund was valued at US$1 billion based on the opening price on January 29, 2022. The value of the fund will fluctuate based on the market. The Fund can be viewed in two wallet addresses and comprises BNB, BUSD and BTC. The wallet addresses are here and here.

BINANCE AND A CONSORTIUM LED BY MDI VENTURES ESTABLISH JOINT VENTURE TO GROW THE BLOCKCHAIN ECOSYSTEM IN INDONESIA

December 15, 2021 Published by TheBlockchainExaminer.com

Binance, the world’s leading blockchain and cryptocurrency infrastructure provider has established a joint venture with a consortium led by MDI Ventures (MDI) to expand the blockchain ecosystem in Indonesia with the development of a new Indonesian-based digital asset exchange.

MDI is a US$830+ million multi-stage venture capital arm of Indonesia’s largest telecoms company, Telkom Indonesia.

Binance will provide world-class asset management infrastructure and technology to support the development of the new exchange platform.

The consortium has collectively developed the biggest digital and financial technology ecosystems in Indonesia, and have access to more than 170 million consumers in the world’s fourth most populous country.

Changpeng “CZ” Zhao, Founder and CEO of Binance , said: “Our ambition at Binance is to grow the blockchain and cryptocurrency ecosystem globally, and this initiative in Indonesia is a significant step in that direction. With fast technology adoption and strong economic potential, Indonesia could become one of the leading centers of the blockchain and crypto ecosystem in Southeast Asia. We are thrilled to name MDI as our latest partner in the region. With their depth of experience in the market, we are confident that we will deliver leading products for users locally.”

Donald Wihardja, CEO of MDI, said: “Cryptocurrencies, crypto assets, and the underlying technology, blockchain, present an undeniably important part of the financial and other digital infrastructures in the future. MDI, as Telkom’s technology investment arm and technology scout, are very excited to participate in this journey. We look forward to growing with Binance and our investment partners, and bridging the opportunities and technologies to Telkom to help upgrade Indonesia’s capabilities in this digital infrastructure.”

The joint venture is part of Binance’s broader strategy to grow the global blockchain ecosystem. The news follows the recent announcements on Binance’s 100M EUR initiative to support the development of the French and European blockchain ecosystem, as well as Binance Asia Services’ investment in Singapore-based Hg Exchange (HGX).

Binance Expands Global KYC Requirements to Further User Protection

August 20, 2021 Published by TheBlockchainExaminer.com

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the global rollout of its Intermediate Verification requirement for all users.

Intermediate Verification supports Binance’s Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts as part of the organization’s redoubling of efforts to further enhance user protection and risk management protocols.

Changpeng Zhao (CZ), Founder and CEO of Binance, said: “User protection is an integral part of our DNA and core values. Our vision is to create a sustainable ecosystem that is safe for all participants. In the last four years we have laid the groundwork by investing heavily in security and user protection, supporting law enforcement from around the world with high-profile investigations and helping cybercrime victims recover millions of dollars worth of stolen funds.”

“We aim to work more collaboratively with policy-makers to improve global standards and discourage bad actors.”

In the last 30 days, Binance has announced significant investments towards user protection, including (but not limited to) senior compliance appointments, compliance technology deployments, Tax Reporting Tool launch, updates to leveraged trading, changes to withdrawal limits and updates to API services.

Binance Hires Former US Federal Law Enforcement Investigator Greg Monahan as Global Money Laundering Reporting Officer

August 18, 2021 Published by TheBlockchainExaminer.com

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the appointment of Greg Monahan, former US Treasury Criminal Investigator, who joins the organization as Global Money Laundering Reporting Officer (GMLRO).

Mr. Monahan has nearly 30 years of credited government service, a majority of which as a US Treasury Criminal Investigator, responsible for tax, money laundering and other related financial crime investigations. He has led complex international investigations that have resulted in the takedown of some of the most prolific cybercriminals, nation-state actors and terrorist organizations.

“Binance has a strong culture of putting their users first, from providing market-leading products to supporting high-profile investigations that help make the crypto industry a safer place,” said Mr. Monahan. “My efforts will be focused on expanding Binance’s international anti-money laundering (AML) and investigation programs, as well as strengthening the organization’s relations with regulatory and law enforcement bodies worldwide.”

Binance CEO Changpeng Zhao (CZ) said: “We have always held Binance to the highest standard to safeguard our users’ interests, and to that end we are always expanding our capabilities to make Binance and the wider industry a safe place for all participants.”

“As a former US Federal Law Enforcement Investigator, Greg Monahan brings a wealth of AML and investigations experience to Binance. We’re thrilled to welcome him to our team as GMLRO and we look forward to his contributions.”

Karen Leong, who has held the GMLRO position since 2018, remains at Binance as Director of Compliance and continues to promote compliance efforts within the organization.

Binance has grown its international compliance team and advisory board by 500% since 2020. Notable appointments include Jonathan Farnell as Director of Compliance, former FATF executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors and former US Senator Max Baucus as policy and government relations advisor.

Tag: Binance