Express

FMA Rejects An Application For Union Bank To Bring On ZHAO Changpeng As A Major Shareholder

Tracy CHEN

Summary: The Liechtenstein Financial Market Authority (FMA) has rejected an application for Union Bank to bring on Binance chief executive as a "major" shareholder.  The investment in Union by Binance CEO ZHAO Changpeng would have saved the bank from closure after recent financial and legal troubles, including an ongoing corruption case involving its former majority backer.  ...

The Liechtenstein Financial Market Authority (FMA) has rejected an application for Union Bank to bring on Binance chief executive as a "major" shareholder. 

The investment in Union by Binance CEO ZHAO Changpeng would have saved the bank from closure after recent financial and legal troubles, including an ongoing corruption case involving its former majority backer. 

The bank had plans to relaunch as a crypto banking platform, but is now in the process of liquidating.

Tracy Chen

Last Update:

Tags: ,,
Link: FMA Rejects An Application For Union Bank To Bring On ZHAO Changpeng As A Major Shareholder   [Copy]
Next:

Related Articles

  • S&P 500 Enters Key Turning Point Window; A Cautious "Wait-and-See" Approach is Adv... 1 day ago
  • Why a "One-Size-Fits-All" Approach to Stablecoin Issuance Fails Given Diverse Fiat Curr... 2 days ago
  • BitFuFu’s VP on Mining Leadership, Corporate Crypto Treasuries, the Stablecoin Act, and... 7 days ago
  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 8 days ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 19 days ago

    • You need to login to comment.