Close Menu
Cryprovideos
    What's Hot

    BitMEX Launches LAUSDT Perpetual Swaps With 50x Leverage

    June 9, 2025

    Dogecoin Follows Bearish June Development With over 4% Losses – Is The Worst Over? | Bitcoinist.com

    June 9, 2025

    Chain Stars Brings the Beat to Philippine Blockchain Week 2025: A Stage for Web3’s Brightest Voices and Strikes | UseTheBitcoin

    June 9, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Markets»KuCoin Co-Founders Step Down Amid $300M Settlement Over US Costs – Decrypt
    KuCoin Co-Founders Step Down Amid 0M Settlement Over US Costs – Decrypt
    Markets

    KuCoin Co-Founders Step Down Amid $300M Settlement Over US Costs – Decrypt

    By Crypto EditorJanuary 27, 2025No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    KuCoin Co-Founders Step Down Amid $300M Settlement Over US Costs – Decrypt

    Seychelles-based crypto trade KuCoin pleaded responsible on Monday to working an unlicensed money-transmitting enterprise and agreed to pay practically $300 million in fines and forfeitures.

    Peken World Ltd., considered one of three entities working as KuCoin, entered the plea in a Manhattan federal court docket as a part of an settlement, prosecutors stated Monday.

    U.S. District Choose Andrew Carter imposed a $113 million superb and ordered $184.5 million in forfeitures, based on a U.S. Lawyer’s Workplace assertion.

    The fees stemmed from a March 2024 indictment in opposition to KuCoin and its founders, Chun Gan and Ke Tang, each Chinese language nationals. 

    Prosecutors accused the corporate of operating an unlicensed money-transmitting enterprise and failing to implement an anti-money laundering program.

    Gan and Tang have signed deferred prosecution agreements, avoiding additional authorized motion. Each founders will forfeit $2.7 million every.

    In an announcement on Monday, Gan introduced he has stepped down from all roles on the firm as a part of the settlement settlement. 

    He described the decision as a “favorable final result” that dismisses all prices in opposition to him and co-founder Ke Tang upon satisfaction of particular situations. Gan emphasised that neither he nor Tang meant to violate U.S. legal guidelines.

    Gan stated KuCoin would concentrate on world development beneath CEO BC Wong’s management, calling the crew “distinctive.” He additionally expressed plans to pursue new blockchain ventures, reaffirming his perception within the expertise’s transformative potential.

    Tang, often known as Eric, who was indicted together with Peken in March 2024, will even “now not have any function in KuCoin’s administration or operations,” prosecutors stated.

    The case follows KuCoin’s December 2023 settlement with New York state regulators. 

    The trade agreed to pay $22 million in fines and refunds and halted buying and selling in New York, resolving allegations it operated with out correct registration as a securities and commodities broker-dealer.

    The KuCoin penalty is the newest in a sequence of U.S. enforcement actions focusing on crypto exchanges.

    Earlier this month, Seychelles-based BitMEX was ordered to pay $100 million for failing to adjust to U.S. anti-money laundering legal guidelines.

    Every day Debrief E-newsletter

    Begin on daily basis with the highest information tales proper now, plus unique options, a podcast, movies and extra.



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    BitMEX Launches LAUSDT Perpetual Swaps With 50x Leverage

    June 9, 2025

    Dogecoin Follows Bearish June Development With over 4% Losses – Is The Worst Over? | Bitcoinist.com

    June 9, 2025

    Chain Stars Brings the Beat to Philippine Blockchain Week 2025: A Stage for Web3’s Brightest Voices and Strikes | UseTheBitcoin

    June 9, 2025

    Ripple Goals to Kickstart Japan's Web3 Surge

    June 9, 2025
    Latest Posts

    The Blockchain Group to lift $340M for Bitcoin treasury

    June 9, 2025

    Greatest Crypto to Purchase Now Whereas Bitcoin Stalls Between $105K and $106K

    June 9, 2025

    Bitcoin Value Dangers Crash To $31,000 Amid 5-Wave Impulse Completion

    June 9, 2025

    Analyst Says Bitcoin Has ‘Fairly Good’ Likelihood of Hitting Huge Worth Goal in 2026, Citing Three Technical Alerts – The Each day Hodl

    June 9, 2025

    Metaplanet shares leap after $5.4B plan to purchase Bitcoin

    June 9, 2025

    Bitcoin returns to 106K—BJ Mining cloud mining creates a zero-threshold passive revenue channel

    June 9, 2025

    MEXC Unveils New Launchpad That includes BTC to Kick Off BTC Buying and selling Month | UseTheBitcoin

    June 9, 2025

    Prime Trending Cryptos of the Week: Bitcoin Leads, Memecoins and Newcomers Surge in Reputation

    June 9, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Crypto Large Bitwise Recordsdata for Spot Dogecoin (DOGE) ETF With SEC – The Day by day Hodl

    January 30, 2025

    Vitalik Buterin and Crypto Leaders Push for ‘Bitcoin Jesus’ Roger Ver’s Pardon

    March 1, 2025

    Anti-Crypto Federal Reserve Governor Leaves Influential Place

    January 6, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.