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China exported small amounts of two minerals crucial to high-tech manufacturing in October, marking a resumption in sales

Binace, the world’s largest cryptocurrency exchange, will pay over $4bn to US officials after admitting to unlicensed money transfers, sanctions violations, and willfully failing to institute anti-money laundering protections, federal officials announced on Tuesday. The oversights allowed trading with sanctioned nations like Iran, Cuba, and Syria, and failed to institute systems to report suspicious potential transactions with terror groups, according to the Treasury Department. “Binance was allowing illicit actors to transact freely, supporting activities from child sexual abuse to illegal narcotics to terrorism,” Treasury Secretary Janet Yellensaid on Tuesday. Changpeng Zhao, the founder of and CEO of Binance, is also stepping down, and will pay a $50m fine after pleading guilty to related charges. He could face up to 18 months in prison. “I made mistakes, and I must take responsibility,” the executive wrote on X. “This is best for our community, for Binance, and for myself.” Federal officials described a wide-ranging set of problems at the crypto exchange, which at times handled two-thirds of global crypto trades. “It willfully enabled hundreds of millions of dollars in transactions between American users and users subject to US sanctions,” US Attorney General Merrick Garland said in remarks on Tuesday. “And its platform accommodated criminals across the world who used Binance to move their stolen funds and other criminal proceeds. “Binance prioritized its profits over the safety of the American people.” The massive penalty, one of the largest in US financial regulation history, will also go towards resolving inquiries from the Commodity Futures Trading Commission, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCen), and the Office of Foreign Assets Control. On multiple occasions, Binance leadership intentionally took steps that allowed dangerous and illegal transactions to take place, according to the Justice Department. Binance knew it served US customers, meaning it had to register with FinCen and implement anti-money laundering controls, but “chose not to comply,” per the DOJ. Rather than set up these protections, the company created a separate Binance.US platform in 2019, while seeking to encourage VIP customers to obscure their accounts and continue using the main exchange, officials said. “Binance executives, including Zhao, made a plan to contact VIP customers and help the VIP register a new account for an offshore entity and transfer holdings to that account,” the DoJ said in an announcement of the agreement on Tuesday. “Binance employees also called US VIPs to encourage them to provide information that suggested the customer was not located in the United States.” The company, knowing it had US customers, also failed to introduce controls that would stop them from making trades with sanctioned jurisdictions like Iran, resulting in over $898m in trades between US and Iran-based users between January 2019 and May 2022. At one point, according to the DoJ, Zhao told employees it was “better to ask for forgiveness than permission,” while in another instance, a compliance employee wrote in a message, “We need a banner ‘is washing drug money too hard these days - come to binance we got cake for you.’” In a statement on Tuesday, Binance acknowledge making “criminal violations.” “These resolutions acknowledge our company’s responsibility for historical, criminal compliance violations, and allow our company to turn the page on a challenging yet transformative chapter of learning and growth,” the company wrote. “With the compliance and governance enhancements enshrined in our commitments, we can begin to share our vision for Binance’s exciting future and the future of the crypto industry.” The company also emphasised that the resolutions don’t allege Binance misappropriated user funds or engaged in market manipulation. Richard Teng, the company’s former global head of regional markets, will take over as CEO, according to Binance. The massive agreement with federal regulators will also require Binance to accept the appointment of a government monitor to oversee the business and bar Zhao from involvement with the company until three years after the monitor is appointed, according to court records viewed by The New York Times. Notably, the Securities and Exchange Commission was not a part of the Binance agreement. The SEC sued Binance and Zhao in June, alleging that they used companies beneficially owned by Zhao to inflate trading prices and make money off customers, allegedly mixing customer funds with Binance money. “While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously,” the company responded at the time in a statement. “And, to be clear: any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staff’s action in light of the ample time the Staff has had to conduct their investigation,” the company added in the statement. The massive settlement comes just weeks after FTX founder Sam Bankman-Fried was found guilty in federal court of defrauding customers on his popular cryptocurrency exchange out of billions of dollars. Bankman-Fried’s defence team has vowed to fight the charges.

Consumer prices in Canada rose at the slowest pace since June, a reassuring sign for central bank policymakers

The European Central Bank can’t declare victory over inflation just yet and will have to remain “attentive” until

Oil pared a two-day advance as traders tempered expectations that OPEC+ will intervene in the market to bolster

Broadcom Inc.’s $61 billion takeover of software maker VMware Inc. won approval from Chinese regulators, albeit with a

Lowe’s Cos. cut its forecast for the second time this year, underscoring the shift away from big home-renovation

Dutch far-right populist Geert Wilders jumped to first place in the latest survey ahead of elections on Wednesday,

An 18-year-old was told her constant exhaustion was likely caused by depression and the stress of her A-levels – only to eventually be diagnosed with a debilitating chronic illness. Elizabeth Hope, from Cheltenham, Gloucestershire, experienced painful headaches and had begun falling asleep at 5pm every day while studying for her A-levels. “My mum would wake me for dinner and then I’d maybe do like an hour’s homework, which is absolutely not enough when you’re studying for your A-levels, and then fall asleep again,” the now-27-year-old recalls. When Hope said she needed to lie down during rehearsals for the school show and stopped going to cheerleading practice because she was too tired, her parents knew there was a serious problem. “To start off with, my parents thought ‘oh she just doesn’t want to go to school’,” she says. “But I started not being able to do the things that I enjoyed, so then we realised that something was very wrong.” She visited another doctor, who found Hope was experiencing myalgic encephalomyelitis, also known as chronic fatigue syndrome or ME, a long-term illness that affects the nervous and immune systems. People with ME can experience severe pain and fatigue, as well as a range of other symptoms, making everyday physical and mental tasks exhausting, according to the NHS. Hope was so exhausted that she struggled to leave the house without using a wheelchair. “I was literally stuck in my house,” she says. “We would maybe go out to one shop and then I would have to come home. Being able to use a wheelchair was amazing for me because I could go to two or three shops or go to the park and stuff like that.” A woman of 18 told by doctors that her constant exhaustion was likely depression and A-level exam stress, was diagnosed with a debilitating chronic illness which means she uses a wheelchair, but has overcome her adversity to become an award-winning wheelchair dancer and dancing instructor. “Struggling with loneliness,” she was “really unsure” when her mother suggested she attend a wheelchair dance class in Birmingham – but it turned out to be one of the best decisions she ever made. She learnt to manage her energy levels and “fell in love with dance”, and has since gone on to perform in her wheelchair at the 2022 Commonwealth Games opening ceremony and two cheerleading world championships. “I think for people with disabilities, it’s not like you can do whatever you want, because it’s not true, but you can do things in a different way,” she says. “But I love dancing and being able to share my passion with other people is just, yes, it’s really cool”. As a dancer, Hope was soon competing and joined another two dance groups, Sun Rae Inclusive Dance and Apt Dance Theatre. She went on to win the UK ParaDance National Championships with the group and came second in the solo contest after performing to Kylie Minogue’s 2018 song “Dancing”. She also found a cheerleading group and travelled to Florida in the US, where she went on to win the world championships in 2019, in the adaptive abilities category. In early 2022, Hope received a message from a friend suggesting that she apply for an assistant dance artist job with the national disability charity Sense. “They said you can apply with a cover letter and CV or via video,” she said. “So I basically made this video about how much I love dance.” To her surprise she was invited to attend a recruitment workshop. “I was like, that was fun, but I won’t get a job because all these people are way more qualified than me,” she said. “But then I got offered the job.” Hope was initially going to turn down the job because the working hours were more than she thought she could manage, but was told they would come up with a solution. She now teaches people with disabilities to dance, from non-verbal school groups to elderly people in care homes – including a 102-year-old. “It’s just about managing my energy and pain,” she says. “So for example, I rest a lot and only work one day a week. It’s just about pacing your activity more than anything else.” For more information on the accessible arts activities Sense offers, visit: sense.org.uk/our-services/arts-sports-activities-for-disabled-people/art-for-disabled-people/ Read More A$AP Rocky claims having a family with Rihanna is his ‘best’ collaboration Ashlyn Harris breaks silence on cheating rumours following Ali Krieger divorce I present my children on Instagram like a fairytale – I’m now rethinking A$AP Rocky claims having a family with Rihanna is his ‘best’ collaboration Ashlyn Harris breaks silence on cheating rumours following Ali Krieger divorce I present my children on Instagram like a fairytale – I’m now rethinking

Treasury investors are turning increasingly skeptical the Federal Reserve will deliver a soft landing for the US economy

Thousands of Israeli troops are trying to find the man who heads the organisation's political wing.

Telkom SA SOC Ltd. is in advanced talks to sell its tower assets to a private equity firm.