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The Financial Conduct Authority has intervened in Binance UK’s financial promotions application. The Financial Conduct Authority (FCA) intervened over Binance UK’s recent partner , known as Rebuilding Society. The primary purpose of Binance’s partner ship with Rebuilding Society, an FCA-authorized and regulated peer-to-peer lending platform, was to gain compliance with the new UK Financial Promotions Regime. The FCA stated: “The firm must not approve the content of any financial promotion for a qualifying cryptoasset for communication by an unauthorized person.” You might also like: UK FCA issues final warning to companies promoting crypto assets Following the FCA’s intervention, the company has until 5 p.m. BST on Wednesday to take back any prior financial promotion approvals it has granted to unauthorized entities. The Financial Conduct Authority told Rebuilding Society to inform its clients that its third-party financial promotions...

An apparent business partner of Rebase's co-founder claims he was pushed out of the firm and funds he owned were moved from a joint crypto wallet. The co-founder of the nonfungible token (NFT) project Rebase is facing a lawsuit from his apparent business partner accusing him of going “rogue” by stealing $2 million from a joint crypto wallet and ousting an apparent co-founder out of the firm. An April 17 filing in a United States District Court in California from Krzysztof Gagacki, who says they’re the co -founder of Rebase, made eight separate complaints against the firm's other co -founder Edmond Truong. Gagacki is demanding a jury trial for breach of contract, breach of fiduciary duty, defamation and trademark infringement. While it is unclear exactly when the professional relationship between the two deteriorated, Gagacki alleged Truong breached a partnership contract on Oct. 27. 2022 by misappropriating $2 million into a separate wallet owned and controlled by Truong wit...