“Can You Tell Me Where Binance’s Headquarters Are?”

New Binance CEO Teng Evasive in First Marquee Interview Since Getting One of the Biggest Jobs in Crypto

“I’ve asked you where Binance’s global headquarters is, I’ve asked you whether Binance is going to undergo an audit, how many employees the company currently has on its books and whether you’re applying for a license in the UK, which is what Binance told us during our last FT crypto conference. You haven’t answered those questions,” Chipolina said after repeatedly trying to get an answer from Teng.

“I have answered each and every one of those questions,” said Teng, who seemed to lose patience.

“Can you tell me where Binance’s headquarters are?” he was asked again.

“It is under consideration,” Teng responded.

***

At the end of the interview, Chopolina gave Teng one more chance to answer a few of the questions about Binance’s governance in order to ensure more transparency for users.

“Can I just check with you, why do you feel so entitled to those answers?” Teng said, slowly starting to show an attitude.

Cyber Breach Reporting Needs Accountants, SEC Official Says

Accountants should step in to help companies vet whether cybersecurity breaches warrant public reporting under new SEC rules that kick in this month, a top commission official said Tuesday.

The cyber reporting rules, adopted in July, give publicly traded companies four days to inform investors of a cyberattack once corporate leaders have determined the breach could materially alter the company’s financial performance and that investors would consider it to be significant.

Accountants are comfortable with the concept of materiality under US securities laws but their cyber colleagues might not be, said Erik Gerding, director of the Division of Corporation …

SEC Head Warns Against ‘AI Washing,’ the High-Tech Version of ‘Greenwashing’

Securities and Exchange Commission Chair Gary Gensler has warned businesses against “AI washing,” or making false artificial intelligence-related claims, likening it to the greenwashing phenomenon that has been the target of an agency crackdown.

Gensler said Tuesday that securities laws bar phony claims and require companies to give “full, fair and truthful” disclosures.

“Don’t do it,” Gensler said at a conference hosted by The Messenger, a news outlet. “One shouldn’t greenwash and one shouldn’t AI wash.

”“AI washing” has emerged as an informal term that describes businesses’ making unfounded AI claims to the public, akin to greenwashing, which refers to companies making unfounded representations about environmental sustainability.

Regulators Not Afraid to Take Action Against Crypto Rule Breakers, NYDFS Chief Adrienne Harris Says

The New York State Department of Financial Services (NYDFS) is not afraid to bring enforcement actions against crypto companies that do not follow its rules, Superintendent Adrienne Harris said at a Financial Times event on Tuesday.

The regulator has taken action against some of the biggest names in crypto. In January, the Coinbase (COIN) exchange had to pay a $50 million fine to settle NYDFS charges that it allowed users to set up accounts without conducting sufficient background checks. Last year, trading platform Robinhood (HOOD) was fined $30 million for allegedly violating anti-money laundering and cybersecurity regulations.

“So we’ve really spent a lot of time doing what I call when I first came into office, a tone reset, to say you are regulated, here are the expectations, here are the rules, and when you don’t follow them, we will bring enforcement actions,” said Harris.

A reality check on those Hamas insider trading claims

In short: the Tel Aviv exchange said the researchers got their denominations mixed up, and the paper’s estimated profits for the (possible) short position in Bank Leumi was a hundred times bigger than it should have been.

All journalists quickly learn one thing: there are denials that are bluffs, and there are denials that prompt a serious rethinking of one’s life choices. This falls firmly in the second camp.

Bitcoin Soars on Hopes of Investment Fund Approval

Bitcoin bulls have brushed off a sweeping legal crackdown against some of the biggest players in the cryptocurrency industry, high interest rates and global recession concerns to push the digital currency’s value close to a 20-month high this week.

The digital coin traded at around $41,700 on Tuesday morning, after pushing past $42,000 the day before. It has gained roughly 150 percent this year, far outperforming the Nasdaq composite index, as investors bet that regulators will soon approve the first spot exchange-traded fund that is designed to track the price of Bitcoin.

Investment management specialists are swarming. Thirteen firms, including BlackRock, Fidelity and the Swiss-based Pando Asset, have filed paperwork with the Securities and Exchange Commission to create such an E.T.F.