ChainCatcher news, according to Forbes, the digital payment platform Checkout.com terminated its contract with Binance early on August 17 due to concerns over money laundering and compliance issues. Binance stated that it disagrees with Checkout's basis for terminating the contract and is considering legal action. According to sources, Checkout.com has processed approximately $300 million to $400 million in transactions for Binance in recent months."Checkout's exit has no impact on our services," said Binance spokesperson Dewi Mustajab. "We have made significant progress in establishing an industry-leading compliance program, and we hope to build more trust with regulators and partners."

Chain Catcher news, digital payment platform Checkout.com announced it will cut about 5% of its workforce, laying off approximately 100 employees. A spokesperson for Checkout.com stated that the layoffs will allow the company to focus on strategic priorities. It is reported that the company's valuation was $40 billion in January, and it previously launched a cryptocurrency payment technology using Fireblocks to provide merchants with instant conversion of customer payments from fiat to stablecoin. (Bloomberg)