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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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W/Cup: Germany Recalls Retired Goalie @ 40

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Manuel Neuer has been called up to Germany’s World Cup squad – two years after his international retirement.

 

The 40-year-old was named as part of Julian Nagelsmann’s 26-man squad for the tournament this summer, having not featured for his country since Euro 2024.

Among the list include Premier League players Malick Thiaw and Nick Woltemade – both of Newcastle – Arsenal striker Kai Havertz, Liverpool midfielder Florian Wirtz and Brighton’s Pascal Gross.

Injured duo Serge Gnabry and Anton Stach and forwards Karim Adeyemi, Kevin Schade and Niclas Fullkrug are among those to miss out.

Germany’s World Cup squad in full
Goalkeepers: Oliver Baumann (Hoffenheim), Manuel Neuer (Bayern Munich), Alexander Nubel (Stuttgart)

Defenders: Waldemar Anton (Borussia Dortmund), Nathaniel Brown (Eintracht Frankfurt), David Raum (RB Leipzig), Antonio Rudiger (Real Madrid), Nico Schlotterbeck (Borussia Dortmund), Jonathan Tah (Bayern Munich), Malick Thiaw (Newcastle)

Midfielders: Pascal Gross (Brighton), Joshua Kimmich (Bayern Munich), Felix Nmecha (Borussia Dortmund), Aleksandar Pavlovic (Bayern Munich), Angelo Stiller (Stuttgart), Leon Goretzka (Bayern Munich), Florian Wirtz (Liverpool), Jamie Leweling (Stuttgart)

Forwards: Maximilian Beier (Borussia Dortmund), Kai Havertz (Arsenal), Lennart Karl (Bayern Munich), Jamal Musiala (Bayern Munich), Leroy Sane (Galatasaray), Deniz Undav (Stuttgart), Nick Woltemade (Newcastle)

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Mikel Obi Claims Credit For Alonso’s Chelsea Appointment

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Former Chelsea midfielder John Obi Mikel has opened up on the club’s decision to appoint Xabi Alonso as their new manager.

 

The Blues confirmed the Spaniard as their next head coach following the conclusion of the 2025-26 season, with Alonso set to take charge ahead of the upcoming campaign.

Mikel had previously been vocal about Chelsea’s managerial philosophy, urging the club’s ownership to move away from short-term head coaches and interim appointments and instead bring in a proper manager with full control over the squad

Speaking on his most recent podcast, Mikel said:

“I am glad the owners listened to me, and listened to the fans.
“Forget about coaches, what we have always had are managers, and what we need is a manager who decides on the players he wants out and the players who can stay.

“We need a strong personality, and that is what we have got now in Alonso.

“That title has been changed from coach to manager, but I hope it’s not just words and he is actually allowed to manage the squad. But I am very happy with the appointment.”

Chelsea are still in the hunt for Europa League football, and a win over Sunderland on the final day of the Premier League season would go a long way in determining whether Alonso inherits a European stage to build on next season.

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Enzo Maresca Gets 3Yr Deal To Replace Pep At Man City

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Enzo Maresca is believed to have signed a three-year deal to replace outgoing Man City manager Pep Guardiola, after it was revealed that the legendary head coach will be leaving the Etihad at the end of the season.

 

Speculation around Guardiola’s departure date has been rife as the season draws to a close, despite the Catalan having one year left on his contract.

According to report, Man City’s sponsors were among those to have been told that Guardiola will be calling time on a remarkable trophy-ladened spell on Sunday.

The report also shared that Maresca, Guardiola’s former assistant, was a front-runner for the vacant spot at the dugout, with Fabrizio Romano confirming on Tuesday morning that the ex-Chelsea manager will be taking over.

The Italian head coach has been out of work since his mutual departure from Stamford Bridge under strained circumstances on January 1.

But even before his acrimonious mid-season exit, Maresca has been viewed as a long-term successor to Guardiola following their stint working together at Man City.

The 46-year-old served as Guardiola’s assistant between 2022 and 2023 after previously coaching Man City’s youth sides, before departing to earn Championship promotion with Leicester.

Maresca then went on to win the Uefa Conference League and the Club World Cup with Chelsea during his 18-month spell in west London.

Guardiola is set to celebrate his time in English football with an open-top bus parade in Manchester after winning the Carabao Cup and FA Cup this season, but until Monday night, the manager had been notably vague over his future plans.

But before news broke of his shock exit, Guardiola had been keen to tamp down any suggestions that he would be commemorated with any fanfare.

‘The club don’t have to do anything, honestly,’ Guardiola, who has yet to officially confirm his departure, said. ‘The important thing in our lives is that when you look back, you can look with a big smile and say “that was good”.

‘Bernardo (Silva) and John (Stones) can feel that. We spoke about it over the last few days. When you’re old, a grandfather, you can look at the memories. That is the most important thing in life.’

Tired of addressing his contractual situation, Guardiola added with a dose of sarcasm: ‘Whatever happens at the end of the season – and when I extend my contract for three more years – I can look back and say, “how nice has that been?”

‘That is the most important thing by far. Most of the people who lived this time here together can feel it.’

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