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Ex-Binance Chief Jailed For Four Months In US

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The founder of cryptocurrency firm Binance was sentenced to four months in US prison on Tuesday after pleading guilty to money laundering charges, in the most high-profile crypto case since Sam Bankman-Fried was jailed.

Changpeng Zhao, a Canadian, resigned from his post at the world’s largest cryptocurrency exchange platform late last year as part of a deal with US authorities.

According to investigations by two Treasury agencies, Binance failed to prevent transactions by movements such as the Islamic State group, al-Qaeda or the armed wing of Hamas.

Zhao pleaded guilty to violating US anti-money laundering laws and Binance agreed in February to pay $4.3 billion to settle charges.

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Prosecutors had asked the judge to impose three years behind bars for a crime that typically results in probation, according to a court filing.

“He made a business decision that violating US law was the best way to attract users, build his company, and line his pockets,” Justice Department lawyers said of Zhao in a sentencing memorandum.

“The sentence in this case will not just send a message to Zhao but also to the world.”

Attorneys for Zhao countered in a filing that being punished with probation is just, appropriate, and in line with legal precedent.

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They cited Zhao’s acceptance of responsibility along with what they called his philanthropic track record.

“I made mistakes, and I must take responsibility,” Zhao, who lives in the United Arab Emirates, said in a post on X, formerly Twitter, in November.

He has been in the United States since that time.

Binance was created in 2017 and cornered much of the crypto-trading market, turning its founder and chief executive Zhao into a billionaire.

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While Binance was founded in China, Zhao moved its operations to other locations internationally after a crackdown on the crypto sector by Beijing.

Binance runs crypto exchanges and provides other services around the world, but it took a severe hit when crypto markets collapsed and regulators began probing the legality of its business.

The volatile industry surged in 2021, with a range of complex products and celebrity endorsements propelling it to a valuation in excess of $3 trillion in 2022.

But a series of scandals, including the November 2022 collapse of Binance’s main rival exchange, FTX, and criminal charges for several industry executives, saw public confidence evaporate and investors pull their money out of crypto.

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FTX founder Bankman-Fried was given a 25-year jail term in March.

The crypto industry has bounced back in recent months, thanks in large part to US regulators giving the go-ahead for exchange-traded funds (ETFs) in bitcoin which allow investors to trade the asset without actually opening a crypto account.

Binance’s new CEO Richard Teng told AFP this month that the company spent hundreds of millions of dollars on compliance and was working very closely with regulators.

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France offering Nigeria funds to destabilize Niger Republic, neighbouring countries – General Tiani alleges

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Niger Republic’s Head of State, General Abdourahamane Tiani, has alleged that France is providing financial support to Nigerian authorities to establish a military base in Borno State.

Tiani said the plan is purportedly to destabilize Niger and its neighboring countries.

Zagazola Makama, a Lake Chad Basin counterterrorism and insurgency expert, made this known in a post on his X handle on Wednesday.

Makama said the Niger’s junta leader made the claim during a recent address, accusing France of meddling in the region and harboring ulterior motives.

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“France has even offered to give money to Nigerian authorities to establish a base in Borno State, with the sole aim of destabilizing our countries.

“We have informed Nigerian authorities, including Nuhu Ribadu and Ahmed Abubakar Rufa’i, of a massive conspiracy to destabilize Niger.

“The Gaba Forest, located on the border between Sokoto (Nigeria) and Niger, was chosen as a base by terrorists recruited by France and ISWAP.

“Unfortunately, it seems we have chosen our interlocutors badly, because it is their skills that have been exploited by France in an attempt to destabilize us on the Niger, Nigeria, Benin and Burkina Faso borders,” Makama quoted a statement purportedly made by General Tiani.

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The security expert stated that the assertion marks the latest in a series of accusations directed at France by the Nigerien leader.

He said the development reflects the deteriorating relations between Niger and its former colonial power following the military coup in July 2023.

“Tiani’s administration has consistently accused France of interfering in Niger’s internal affairs and supporting factions opposed to the ruling junta,” Makama said.

In his analysis, the security expert
stated that General Tiani’s allegations appear to be grounded more in speculation than substantiated fact.

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He said, “These allegations seem part of a broader narrative aimed at isolating Nigeria due to its strong ties with France.”

Makama argued that such continued, unfounded accusations against Nigeria pose a significant threat to diplomatic relations between the two nations.

“General Tiani’s accusations not only undermine these important initiatives but also risk fueling unnecessary tensions between nations that share a common goal of achieving stability and peace in the Sahel region,” he added.

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There will be no same sex marriage again -Trump vows to end ‘transgender madness ‘

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President-elect Donald Trump on Sunday pledged to “stop the transgender lunacy” on day one of his presidency, as Republicans — set to control both chambers of Congress and the White House — continue their push against LGBTQ rights.

“I will sign executive orders to end child sexual mutilation, get transgender out of the military and out of our elementary schools and middle schools and high schools,” the president-elect said at an event for young conservatives in Phoenix, Arizona.

He also vowed to “keep men out of women’s sports,” adding that “it will be the official policy of the United States government that there are only two genders, male and female.”

Speaking to the AmericaFest conference in a border state he easily carried in the November election, Trump further promised immediate measures against “migrant crime,” vowed to designate drug cartels as foreign terrorist organizations, and doubled down on his talk of restoring US control of the Panama Canal.

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Transgender issues have roiled US politics in recent years, as Democratic- and Republican-controlled states have moved in opposite directions on policy such as medical treatment and what books on the topic are allowed in public or school libraries.

Last week, when the US Congress approved its annual defense budget, it included a provision to block funding of some gender-affirming care for the transgender children of service members.

In his speech Sunday, which amounted to something of a victory lap, Trump made expansive promises for his second term — and drew a dark picture of the four years preceding it, under President Joe Biden and Vice President Kamala Harris, the latter of whom he defeated in the 2024 election.

“On January 20, the United States will turn the page forever on four long, horrible years of failure, incompetence, national decline, and we will inaugurate a new era of peace, prosperity and national greatness,” Trump said, referring to his swearing-in.

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– ‘Golden age’ –

“I will end the war in Ukraine. I will stop the chaos in the Middle East, and I will prevent, I promise, World War III.”

He added: “The golden age of America is upon us.”

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Fresh Israeli Airstrikes In Gaza Kill 25 Palestinians Including Children

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Fresh Israeli airstrikes in the Gaza Strip have killed at least 25 Palestinians, according to medics.

The casualties on Friday included at least eight people in an apartment in the Nuseirat refugee camp and 10 others in the town of Jabalia, among them seven children.

Efforts to broker a ceasefire between Israel and Hamas have yet to succeed.

Sources involved in the negotiations told Reuters on Thursday that Qatar and Egypt had resolved some points of contention but key issues remain unresolved.

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Israel launched its assault on Gaza following Hamas-led attacks on Israeli communities on October 7, 2023.

The attacks resulted in the deaths of 1200 people and the abduction of over 250 hostages, according to Israeli reports.

Israel states that approximately 100 hostages are still being held, though it is unclear how many remain alive.

Gaza authorities report that Israel’s ongoing campaign has killed more than 45,000 Palestinians and displaced the majority of the 2.3 million residents.

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Much of the territory has reportedly been devastated by the conflict.

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