With market optimism fueling increased activity, Binance CEO Richard Teng is warning investors to stay alert against Ponzi schemes and fraudulent crypto projects.
Taking over leadership from Changpeng Zhao (CZ), Teng emphasized the importance of due diligence and skepticism toward unsolicited offers, urging traders to verify before trusting any investment opportunities.
Scammers thrive during market upswings, preying on emotions and hype. Teng advised the Binance community to remain cautious, highlighting how fraudulent schemes often appear more frequently during bullish cycles. His core message: question everything and research thoroughly before committing funds.
In a separate discussion, Teng shifted focus to Bitcoin’s limited supply, reinforcing its long-term value. With only 21 million BTC ever to exist and less than 2 million left to be mined, he emphasized the asset’s growing scarcity as global adoption increases.
Meanwhile, Binance is under legal investigation in France over allegations of money laundering and tax violations. Authorities claim the exchange may have operated without full regulatory approval, leading to an expanded probe into its activities across multiple EU countries.
Despite legal pressures, Binance remains a dominant player, with Teng working to strengthen investor awareness and security in the evolving crypto landscape.
Alex Mashinsky, co-founder and former CEO of the defunct crypto lending platform Celsius, is scheduled to be sentenced on May 8, 2025, following his guilty plea to two federal criminal charges late last year.
A decentralized exchange targeted in a multi-million-dollar exploit has recovered its losses just days after the incident, thanks to an unexpected twist involving the hacker themselves.
A recent cyberattack targeting a UK government official’s social media account has highlighted ongoing concerns over digital impersonation and crypto scams.
A former NFT trader is facing potential prison time after admitting to hiding millions in profits from the IRS through undeclared sales of high-value digital assets.