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Ex-Binance Chief Set For Sentencing In US Court

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US federal prosecutors are calling for ex-Binance chief Changpeng Zhao to be sent to prison when he appears Tuesday for sentencing on money laundering charges.

 

 

Zhao, a Canadian, resigned from his post at the world’s largest cryptocurrency exchange platform late last year as part of a deal with US authorities.

 

 

According to investigations by two Treasury agencies, Binance failed to prevent transactions by movements such as the Islamic State group, al-Qaeda or the armed wing of Hamas.

 

 

Zhao pleaded guilty to violating US anti-money laundering laws and Binance agreed in February to pay $4.3 billion to settle charges.

 

 

Prosecutors want a judge to make Zhao pay a $50 million fine and spend three years behind bars for a crime that typically results in probation, according to a court filing.

 

 

The volatile industry surged in 2021 with a range of complex products and celebrity endorsements propelling it to a valuation in excess of $3 trillion in 2022.

 

 

But a series of scandals, including the November 2022 collapse of Binance’s main rival exchange, FTX, and criminal charges for several industry executives, saw public confidence evaporate and investors pull their money out of crypto.

 

 

But the crypto industry has bounced back in recent months, thanks in large part to US regulators giving the go-ahead for exchange-traded funds (ETFs) in bitcoin which allow investors to trade the asset without actually opening a crypto account.

 

 

Binance’s new CEO Richard Teng told AFP this month that the company spent hundreds of millions of dollars on compliance and was working very closely with regulators.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AFP

 

 

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Doku insists On League Victory Despite Everton Draw With Man City

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Jeremy Doku insisted Manchester “will keep on fighting” in the Premier League title race despite their “painful” draw with Everton on Monday.

 

City drew 3-3 with the Toffees at Hill Dickinson Stadium, with Doku scoring a 97th-minute equaliser, having also scored the opening goal.

Doku’s equaliser (96:49) is City’s third-latest goal on record (since 2006-07) in a Premier League game after John Stones’ strike against Arsenal in September 2024 (97:14) and Gabriel Jesus’ goal against Everton in February 2019 (96:52).

Doku has had a hand in six goals across his last five games for City in all competitions (four goals, two assists), as many as in his previous 22 games combined (one goal, five assists).

The Belgian also created the most chances in the match against Everton (four), completed the most dribbles (5/7) and won the most duels (14/19).

City avoided defeat in a Premier League game despite trailing by 2+ goals as late as the 82nd minute for the first time since March 2012 against Sunderland (3-3).

They went on to win the league title in 2011-12, and Doku believes City can still beat Arsenal to the trophy this season.

“First half, we played well and created a lot of chances. We know if we don’t score those chances, it is going to get difficult at the end,” said Doku.

“Obviously, they are at their own stadium, they create chances, and they are dangerous, and they scored two goals, but I think we gave them the game.

“Good that we came back because one point is not bad in games like this.

“We will see. It feels painful now. There is still a lot of games to go. We lost two points, but we know that one point can be important at the end.

“We will keep on fighting. We owe it to ourselves and to our fans.”

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Xenophobia: Nigerians Seeking Return From S A Will Bear The Cost – FG

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The Ministry of Foreign Affairs said Nigerians interested in repatriation from South Africa will be responsible for the cost of their return trip to Nigeria.

The ministry’s spokesperson, Kimiebi Ebienfa, stated this during a press briefing on Monday in Abuja.
The briefing came shortly after a closed-door meeting between the Ministry’s Permanent Secretary, Dunoma Ahmed, and the South African Acting High Commissioner, Lesoli Machele.

Mr Ebienfa said the process will be self-funded and not state-funded, as it is a voluntary decision that the Nigerian government will only facilitate and coordinate.

In the recent past, such reparations have been sponsored by Nigerian airline owners, particularly Allen Onyema, the CEO of Air Peace.

The Nigerian government, on Sunday, indicated its readiness to repatriate its citizens from South Africa due to xenophobic violence.

The effort primarily targets Nigerians who feel threatened by the xenophobic violence and tension in parts of South Africa, as the protests against black immigrants in the country continue. Two Nigerians were killed last month.

Since the announcement, about 130 Nigerians in South Africa have expressed a willingness to return home voluntarily.

Mr Ebienfa stated that the return of the Nigerians depends on their financial capacity, as they would be expected to fund their trip back home individually.

He said, “Those willing to leave are expected to approach the high commission and, given that their decision is voluntary, have the resources to fund their return to Nigeria.”
The government will not “provide an aircraft from Nigeria to convey them.”

He also noted that the speed of the repatriation process will be determined by the availability of funds.
“Yes, 130 as of this morning have registered, but actualisation would be required to have their flight ticket to move back to Nigeria.”

Mr Ebienfa also explained that Nigerians who have so far expressed interest are motivated either by concerns about threats to their lives or by fear of arrest by South African law enforcement agencies.

“There are two groups of Nigerians who want to come back. One group feels the country is not safe for them and wants to come. They have all their papers intact.

“Then there is also the second group that has travel document violations or resident permit violations. And instead of running away from law enforcement, they are appealing that the government facilitate their movement back to Nigeria,” he explained.

However, he noted that the process is still being worked out and that the government would step in to provide aircraft or other needed assistance if tensions rise and the situation becomes more volatile.

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Marcelino To Leave Villarreal At End Of Season

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Villarreal head coach Marcelino Garcia Toral will leave ​at the end of the ‌season despite securing a second consecutive Champions League qualification, the LaLiga ​club said on Monday (today). 
The ​60-year-old, who also managed the ⁠team between 2013 and ​2016 and guided them back ​to the Spanish top flight, has led Villarreal more than any other ​coach, overseeing 298 games ​across all competitions.

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Villarreal sit third in LaLiga ‌with ⁠four matches remaining, a position that guarantees them elite European football next season.
Marcelino, who ​rejoined Villarreal ​in ⁠2023, won the Copa del Rey with ​Valencia in 2019 and ​the ⁠Spanish Super Cup with Athletic Bilbao in 2021. He has ⁠been ​linked with English ​Premier League clubs.
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