Tropical Storm Pilar is lashing Central America with heavy rains that have already been blamed for two deaths in El Salvador as it meanders off the Pacific coast

Binace, the world’s largest cryptocurrency exchange, will pay over $4bn to US officials after admitting to unlicensed money transfers, sanctions violations, and willfully failing to institute anti-money laundering protections, federal officials announced on Tuesday. The oversights allowed trading with sanctioned nations like Iran, Cuba, and Syria, and failed to institute systems to report suspicious potential transactions with terror groups, according to the Treasury Department. “Binance was allowing illicit actors to transact freely, supporting activities from child sexual abuse to illegal narcotics to terrorism,” Treasury Secretary Janet Yellensaid on Tuesday. Changpeng Zhao, the founder of and CEO of Binance, is also stepping down, and will pay a $50m fine after pleading guilty to related charges. He could face up to 18 months in prison. “I made mistakes, and I must take responsibility,” the executive wrote on X. “This is best for our community, for Binance, and for myself.” Federal officials described a wide-ranging set of problems at the crypto exchange, which at times handled two-thirds of global crypto trades. “It willfully enabled hundreds of millions of dollars in transactions between American users and users subject to US sanctions,” US Attorney General Merrick Garland said in remarks on Tuesday. “And its platform accommodated criminals across the world who used Binance to move their stolen funds and other criminal proceeds. “Binance prioritized its profits over the safety of the American people.” The massive penalty, one of the largest in US financial regulation history, will also go towards resolving inquiries from the Commodity Futures Trading Commission, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCen), and the Office of Foreign Assets Control. On multiple occasions, Binance leadership intentionally took steps that allowed dangerous and illegal transactions to take place, according to the Justice Department. Binance knew it served US customers, meaning it had to register with FinCen and implement anti-money laundering controls, but “chose not to comply,” per the DOJ. Rather than set up these protections, the company created a separate Binance.US platform in 2019, while seeking to encourage VIP customers to obscure their accounts and continue using the main exchange, officials said. “Binance executives, including Zhao, made a plan to contact VIP customers and help the VIP register a new account for an offshore entity and transfer holdings to that account,” the DoJ said in an announcement of the agreement on Tuesday. “Binance employees also called US VIPs to encourage them to provide information that suggested the customer was not located in the United States.” The company, knowing it had US customers, also failed to introduce controls that would stop them from making trades with sanctioned jurisdictions like Iran, resulting in over $898m in trades between US and Iran-based users between January 2019 and May 2022. At one point, according to the DoJ, Zhao told employees it was “better to ask for forgiveness than permission,” while in another instance, a compliance employee wrote in a message, “We need a banner ‘is washing drug money too hard these days - come to binance we got cake for you.’” In a statement on Tuesday, Binance acknowledge making “criminal violations.” “These resolutions acknowledge our company’s responsibility for historical, criminal compliance violations, and allow our company to turn the page on a challenging yet transformative chapter of learning and growth,” the company wrote. “With the compliance and governance enhancements enshrined in our commitments, we can begin to share our vision for Binance’s exciting future and the future of the crypto industry.” The company also emphasised that the resolutions don’t allege Binance misappropriated user funds or engaged in market manipulation. Richard Teng, the company’s former global head of regional markets, will take over as CEO, according to Binance. The massive agreement with federal regulators will also require Binance to accept the appointment of a government monitor to oversee the business and bar Zhao from involvement with the company until three years after the monitor is appointed, according to court records viewed by The New York Times. Notably, the Securities and Exchange Commission was not a part of the Binance agreement. The SEC sued Binance and Zhao in June, alleging that they used companies beneficially owned by Zhao to inflate trading prices and make money off customers, allegedly mixing customer funds with Binance money. “While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously,” the company responded at the time in a statement. “And, to be clear: any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staff’s action in light of the ample time the Staff has had to conduct their investigation,” the company added in the statement. The massive settlement comes just weeks after FTX founder Sam Bankman-Fried was found guilty in federal court of defrauding customers on his popular cryptocurrency exchange out of billions of dollars. Bankman-Fried’s defence team has vowed to fight the charges.

The White House is ready to have talks with Russia without preconditions about a future arms control framework as the last treaty between the two nuclear powers has faltered

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Jewish refugees from the war between Israel and Hamas are finding safety in an unused lakeside resort in the Hungarian countryside

Russia and Ukraine were locked in a serious stalemate in Moscow’s continuing invasion of the country and needed to sit down for peace talks, Belarusian president and Vladimir Putin’s close ally Alexander Lukashenko said. “There are enough problems on both sides and in general the situation is now seriously stalemate: no one can do anything and substantively strengthen or advance their position,” Mr Lukashenko said. “They’re there head-to-head, to the death, entrenched. People are dying,” he said over the weekend. This marks the first time the Belarusian president has come forward seeking truce in the conflict and called for a “stop” command. "We need to sit down at the negotiating table and come to an agreement," Mr Lukashenko said in a question and answer video posted on the website of the Belarusian state news agency BelTA. "As I once said: no preconditions are needed. The main thing is that the ‘stop’ command is given," he said. A geographically closer nation to Russia, Belarus’s territory was used as a launch pad for the Russian preident’s full-scale invasion in February last year. He is also the only international leader to have frequently met Mr Putin since the conflict engulfed Ukraine. He said that Ukraine’s demands for Russia to quit its territory needs to be resolved at the negotiating table so that “nobody dies”. In June this year, Mr Lukashenko said his country had started taking delivery of Russian tactical nuclear weapons, some of which he said were three times more powerful than the atomic bombs the US dropped on Hiroshima and Nagasaki in 1945. Mr Lukashenko has relied on Russian subsidies and political support to rule the ex-Soviet nation with an iron hand for nearly three decades. In what is a purported exchange for the strategic ties between Belarus and Russia, he allowed the Kremlin to use Belarusian territory to send troops into Ukraine in February 2022 at the start of the invasion. Russia deployed forces to Belarusian territory under the pretext of military drills and then sent them rolling into Ukraine as part of the invasion that began last year. Mr Lukashenko also publicly supported what Mr Putin calls a “special military operation” inside Ukraine, alleging at a meeting with Mr Putin in early March that Ukraine planned to attack Belarus and that Moscow’s offensive prevented that. He said he brought a map to show the Russian president from where the alleged attack was supposed to take place, but offered no other evidence to back the claim. The vast war frontline in Ukraine has moved little in the past year despite Kyiv’s gruelling months-long offensive. Major military warfare is concentrated in eastern and southern Ukraine’s pockets. Ukraine has continuously rejected the proposal of peace talks and imposed pre-conditions that Russia withdraws every single of its military personnel from Ukrainian soil without keeping the territory from where Russian troops fire missiles. Ukraine said it will not rest until it ejected every last Russian soldier from its territory. It said the invasion was an imperial-style land grab by Russia, the world’s biggest nuclear power. American president Joe Biden said last year that a direct confrontation between Nato and Russia would mean the Third World War. On Saturday, Ukrainian president Volodymyr Zelensky said his 10-point peace plan, which includes calls for the restoration of Ukraine’s territorial integrity, is the only way to end the war. Read More Russia-Ukraine war: Putin ally Lukashenko warns of ‘serious stalemate’ Crowd storms Russian airport in search of Jewish passengers from Israel flight If Putin dies, this is what would happen in Russia Crowd storms Russian airport in search of Jewish passengers from Israel flight If Putin dies, this is what would happen in Russia Ukraine bombards Russia with drones as Putin suffers losses in fight for Avdiivka

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A federal judge in Florida has declined for now to postpone former President Donald Trump’s classified documents trial

President Joe Biden appeared to suggest over the weekend that Democrats had reached a new deal with embattled House Speaker Kevin McCarthy on Ukraine aid -- a major omission from a funding bill that managed to avert a government shutdown.