Research Court No. 27 In Madrid, Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency platform, was investigated on March 21, after receiving a lawsuit against the company and its subsidiary in Spain, Moon Tech Spain. .
Judge Ángeles Velázquez in an order dated March 7 to which he had access, Judge Ángeles Velázquez recognizes that it is a criminal offense, for which Changpeng Zhao and the Patron Binance cited through its subsidiary Moon Tech in Spain. March 21
This is the second complaint admitted in Spain against the cryptocurrency giant, after which it is already investigating, in court investigation n.21, the CEO of the company and its Spanish subsidiary for alleged fraud and embezzlement. In June 2022, Binance – the world’s platform for buying and selling cryptocurrency – suspended all bitcoin withdrawals due to a technical problem; a little later, in July, the Dutch central bank (DNB) imposed a fine of 3.32 million coins for operating in the Netherlands without a license.
In January of this year, Binance blocked the plaintiffs’ accounts without knowing the reason and without allowing them to manage them, a situation that remains today. Among the facts listed in the first complaints that were admitted to the process by Court No. 21 in October 2022, stands out the intermediation services of the company economy and its founding partner, represented by Maria Victoria Vega, Ejaso ETL Global. law firm, damages $85,000 (about 86,100 reported).
For his part, the complaint investigated by Court No. 27 investigates the investment of 67,550 coins made in May 2021, by someone at the instance of his nephew, something in his twenties, who “knew the cryptocurrency market very well.” Since then, his attempts to recover the said amount have been unsuccessful, and in both cases Binance has failed to accede to his repeated requests for funds.
Last weekend, Binance temporarily suspended the automatic conversion of the USDC stablecoin to the Binance USD token, after this currency lost its dollar peg due to Silicon Valley Bank (SVB). Binance was founded in China in 2017 and later moved its headquarters to the Cayman Islands, shortly before the Beijing government issued regulations for this market; Changpeng Zhao, of Chinese-Canadian origin, is ranked 19th in the Forbes edition of the 2022 richest people in the world, with an estimated fortune of $10.5 billion.
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