The New York Times reported that two employees of major cryptocurrency exchange Binance were detained in the United Arab Emirates over the past few weeks. According to four sources familiar with the matter, the two were detained at a UAE airport as part of an investigation by UAE police into suspected financial crimes. Binance told Reuters that a small number of employees were questioned as part of routine inquiries into third-party fund flows through customer accounts, and said the employees were not targets of the investigation and were released after being cleared of suspicion. The company commented that it is cooperating constructively with Dubai police authorities and others.
Binance reportedly provided customer data to Russian authorities in Ukraine donation case
Cryptocurrency exchange Binance has reportedly provided customer data to Russian investigative authorities, which was used as evidence in a terrorism financing case involving donations to Ukraine-related organizations. According to Reuters, investigators used transaction history, date of birth, address, phone number, passport information, and a Bulgarian residence permit provided by Binance in criminal proceedings against Russian IT specialist Yuri Belenky, who was detained in September 2025. Binance had announced a full withdrawal from its Russian business in September 2023, but it is said to have maintained a channel through which Russian law enforcement could request information even after the exit. Because Belenky held a Bulgarian residence permit, issues under the EU General Data Protection Regulation have also been raised. Binance is reportedly preparing to return to the UK market, and applications for authorization under the Financial Conduct Authority's new crypto asset regulations are scheduled to open on September 30, 2026.
Three Binance-linked companies sue RedotPay founders, seeking approximately 745 billion yen in damages
Three Binance-linked companies have sued three co-founders of crypto payment firm RedotPay in Hong Kong, seeking 472.8 million dollars, or approximately 747 billion yen, in damages, Bloomberg reported. Binance alleges that RedotPay breached their partnership agreement and improperly steered over 470,000 Binance Card users toward its own stablecoin payment card. It also claims that RedotPay allowed users to top up RedotPay cards with Binance Pay funds beyond the scope permitted by the contract, and that from March 2026 onward, funds were used for prohibited top-ups without proper segregation. Binance further asserts that through the partnership, RedotPay received approximately 304 million dollars in user funds from Binance Pay, though these remain allegations and the court has yet to rule. The partnership began in November 2023 but ended in less than six months amid suspected misuse of funds, and a new agreement including fund segregation arrangements was signed in March 2025. Separately from the Hong Kong lawsuit, Binance affiliate Chaintex has also sued a RedotPay affiliate in Singapore, with a hearing scheduled for August 7. RedotPay has stated it intends to contest the legal proceedings and said the lawsuits will not affect its day-to-day operations.
Binance withdraws Greek MiCA bid, risks losing Europe access by July 1
Binance has withdrawn its application for a MiCA license in Greece, putting its ability to operate across the European Union at risk when the new crypto regulations take effect on July 1. The world's largest cryptocurrency exchange had been seeking a single license from one EU regulator, which would have allowed it to passport services across all 27 EU and 30 EEA countries. Co-CEO Richard Teng stated that a license will be obtained in the coming months, but not by the July 1 deadline, and assured users that funds remain safe. The withdrawal comes as only about 200 of over 3,000 applicants are expected to receive MiCA licenses, with just 14 able to run a trading platform. Binance faces a tight timeline to secure approval from another regulator, while competitors like OKX, Kraken, and Coinbase have already obtained their licenses.
Binance Withdraws Registration Application in Greece
Binance has officially withdrawn its application for registration with Greece's Hellenic Capital Market Commission. The world's largest cryptocurrency exchange announced the decision as the transitional period for the new European MiCA rules ends on July 1.
Binance vows to stay in Europe despite licence setback
Binance intends to remain in the European Union and will make a fresh push for permission to operate there, a senior executive told Reuters, after its application under a new licence regime failed. Gillian Lynch, head of Europe and the United Kingdom, said the company may pursue a different pathway to authorisation and is looking at alternatives if Greece does not grant a licence. The company has one week to secure a licence before its current permission to operate in Europe expires, which would require it to wind down EU operations. Two people with knowledge of the process said Binance held talks with regulators in Ireland, Latvia and Greece but faced resistance in all three countries, with officials concerned about past money-laundering penalties, its complex international structure and a risk-taking culture. Lynch said Binance had invested in compliance and internal controls, employed about 1,500 compliance staff, and had no outstanding issues related to its application.
Franklin Resources Hits New 52-Week High Amid Strategic Expansion
Franklin Resources shares touched a new 52-week high of $33.29 before closing slightly lower at $33.18. The stock has rallied 38.9% over the past six months, outperforming the industry's 9.7% decline and peers Invesco and T. Rowe Price, which gained 10.3% and 5.5% respectively. The company's growth is supported by strategic acquisitions and partnerships, including the April 2026 agreement to acquire crypto investment firm 250 Digital and a partnership with Binance for an institutional collateral program, as well as the October 2025 acquisition of Apera Asset Management that expanded alternative credit assets under management to more than $90 billion and the overall alternatives platform to approximately $270 billion. Franklin's strong liquidity position of $6.6 billion as of March 31, 2026, has enabled shareholder-friendly actions such as a 3.1% dividend increase to 33 cents per share and a share repurchase authorization of 40 million shares. However, concerns remain over concentration risk from investment management fees, which accounted for 79.3% of total revenues, and rising expenses that could pressure profitability. Analysts have revised fiscal 2026 and 2027 earnings estimates upward, reflecting year-over-year growth of 23.4% and 8.4%, and the stock trades at a forward price-to-earnings multiple of 11.4, below the industry average of 13.8.