Binance’s token BFUSD has already sparked speculation even before its launch. It all started with Binance’s introduction of the new asset on Monday which offers 19.55% APY, positioning itself as an alternative to conventional stablecoins. Not a Stablecoin, But a Reward-Bearing Asset According to the website, users can earn daily rewards simply by holding BFUSD...Read More
Alameda Research, the trading arm of the bankrupt crypto exchange FTX, has filed a lawsuit against Aleksandr Ivanov, the founder of the Waves blockchain and its related entities. The court filing on November 10th revealed that Alameda aims to recover at least $90 million, which it states belongs to the firm and the debtors involved...Read More
The once-giant cryptocurrency exchange that went under just over two years ago, FTX, continues with its effort to claw back substantial funds from former investors. In its latest action, the Sam Bankman-Fried-founder company has gone after Binance and its former CEO, Changpeng Zhao. Bloomberg’s report indicates that the lawsuit filed by FTX’s lawyers seeks to...Read More
Donald Trump’s win triggered massive gains for not just digital assets but also crypto-related stocks, and ETF flows on November 6 and 7 as stakeholders await potential regulatory clarity, legislative advancements, and expected shifts within the Securities and Exchange Commission. Following the results, data showed billions worth of ERC-20 stablecoins flowing into exchanges. This could...Read More
Bitcoin climbed past $75,000 on Wednesday and $76,000 on Thursday morning, setting a fresh record before stabilizing near $74,500. Market experts remain optimistic about the cryptocurrency’s potential for further growth, fueled by expectations of a pro-crypto stance from Donald Trump’s administration. Data also suggests that significant volatility may continue in the near term, as reflected...Read More
The FTX collapse of November 2022 continues to serve as a stark reminder of the necessity for rigorous asset monitoring. This event catalyzed a shift toward transparency, with crypto exchanges now disclosing more about their reserves and user fund management. As November 6th marks two years since the collapse, only Bitfinex and Binance witnessed their...Read More
Binance co-founder Yi He has spoken to recent speculation about listing fees on the platform, assuring the community that it operates with transparent policies. The address came in response to allegations by Moonrock Capital CEO Simon Dedic of costly listing fees on Binance. Binance Accused of Charging Exorbitant Fees for Crypto Listing On October 31,...Read More
Meme coins aren’t just speculative assets. They have slowly started representing a symbolic rebellion against established financial norms, aligning with the demographic and ideological shifts shaping modern markets, as highlighted by Binance Research’s latest report. Since 2022, the collective market cap of meme coins, measured as a share of Total 3 (the crypto market excluding...Read More
The former CEO and founder of the world’s largest cryptocurrency exchange has no plans to retake the chief role at the company he ran for seven years. He revealed future plans about himself and the industry as a whole during the current Binance Blockchain Week in Dubai. Live from @binance blockchain week in Dubai. Here’s...Read More
Nigerian authorities have reportedly dropped all charges against Binance executive Tigran Gambaryan. The American and his employer had been facing accusations of money laundering. This legal development follows the government’s earlier decision to drop tax evasion charges against both. Health Concerns and U.S. Pressure While the charges were primarily directed at the crypto exchange, which...Read More
Binance revealed collaborating with the Delhi Police to take down a “sophisticated scam” orchestrated by a fraudulent entity known as “M/s Goldcoat Solar.” According to the press release shared with CryptoPotato, the crackdown resulted in several arrests and the confiscation of more than 100,000 USDT in crypto assets. Solar Scam Busted As part of the...Read More
Bitget revealed that its native wallet has surpassed 40 million users, representing a growth of over 100% since March 2024. This brought the platform closer to Binance, making it the second most downloaded crypto app in the world. In fact, Bitget Wallet recorded 6 million downloads in September alone. In a recent blog post, Bitget...Read More
The Nigerian Securities and Exchange Commission’s (SEC) case against the world’s largest cryptocurrency exchange, Binance, continues to drag on. A judge has denied the second bail application for the exchange’s executive, who has been detained in the country since February. According to a report from local media Nairametrics, Justice Emeka Nwite denied Binance’s head of...Read More
Coinbase has announced a significant update for its users, enabling them to send Bitcoin to Taproot addresses on October 8th. This integration expands Taproot’s accessibility, enhancing privacy, scalability, and security. With the latest support, Coinbase has joined prominent crypto exchanges such as Binance, OKX, and Kraken. In its tweet, the crypto exchange stated, “We’re pleased...Read More
According to a report released by digital asset data provider CCData on Oct. 3, Binance’s market dominance has declined significantly. Its spot market share has fallen to 27%, the lowest level since January 2021, according to the report. It stated that in September, Binance’s spot trading volume dropped by 22.9% to $344 billion, marking the...Read More
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has reportedly informed its Canadian users that it will cease operations in the country by December 31, 2024. This follows the departures of OKX, Paxos, Bybit, and Binance from the Canadian market. Users Given 90 Days to Withdraw Assets In a September 30 email to users,...Read More
In one of the latest collaborations between public and private entities, the world’s largest cryptocurrency exchange, Binance, announced that it helped Indian authorities bust a purported legitimate online gaming app that defrauded users of more than Rs 400 crore ($47.6 million). According to a blog post, the Binance Financial Intelligence Unit (FIU) provided critical aid...Read More
Four people have sued the U.S. Department of Justice (DOJ), demanding that it direct more funds from a $4.3 billion settlement it won against Binance into the U.S. Victims of State Sponsored Terrorism Fund (USVSST). The complainants argued in their lawsuit that the U.S. Victims of State Sponsored Terrorism Act, enacted in 2015, requires all...Read More
Changpeng Zhao, the founder and former CEO of the world’s largest cryptocurrency exchange, has served his four-month prison sentence and has been released from custody as of Friday. Although he has stepped down as the chief executive of Binance, he is still the largest stakeholder. Recall the events that took place almost a year ago...Read More
On Sept. 27, Fortune reported that Changpeng Zhao (CZ) will step out onto the streets of California as a free man two days before his official release date. The outlet reported that if a release date falls on a weekend, inmates leave custody early. CZ was scheduled for release on Sept. 29 following four months...Read More
Ki Young Ju, the CEO of blockchain analytics firm CryptoQuant, has expressed his support for former Binance CEO Changpeng Zhao (CZ) as his four-month prison sentence nears its conclusion. Zhao began serving his sentence in June 2024 after admitting to breaches of the US Bank Secrecy Act (BSA). Ki Young Ju’s Statement His guilty plea...Read More
In the aftermath of a July 2024 cyberattack that resulted in the loss of $235 million from WazirX users’ wallets, Binance has denied allegations that it bears any responsibility for the breach. In an official statement, it emphasized that it neither owns nor operates the Indian platform and urged the team to take full accountability...Read More
The U.S. government is quietly pressuring Nigeria to release Tigran Gambaryan, a Binance executive detained in the country since February. Gambaryan has reportedly faced serious health issues while in custody, prompting calls for his release on humanitarian grounds. Humanitarian Concerns According to a New York Times report, two anonymous senior State Department officials revealed that...Read More
The U.S. Securities and Exchange Commission (SEC) has seemingly tracked back on previous statements suggesting that crypto assets themselves are securities. This retraction comes amid the agency’s ongoing legal case against Binance, one of the largest cryptocurrency exchanges in the world. SEC “Regrets” Confusion Caused by Wording Attention to the SEC’s shift was drawn by...Read More
Richard Teng has publicly condemned the Nigerian government over what he describes as the “inhumane treatment” of Tigran Gambaryan, the company’s Head of Crime Compliance, who has been detained in the West African country for the past six months. Teng’s statement comes in response to a recently surfaced video that shows Gambaryan in visible distress...Read More
Over the last five decades, the payments industry has grown into one of the largest and fastest-growing sectors in the world. However, it faces one issue – the sector still runs on 50-year-old technology rails that become more inefficient as time passes. A report from Binance Research, the research division of Binance, the world’s largest...Read More
Binance’s native token BNB is at a crucial level after experiencing a price decline of over 10% in the last four days. Despite the notable price drop, it is still in an uptrend as BNB continues to hold above the 200 Exponential Moving Average (EMA) on a daily time frame. BNB Price Prediction However, the...Read More
Binance announced that it has prevented over $2.4 billion in losses from potential scams and fraudulent activities that could have impacted more than 1.2 million users from January to July 2024 owing to its risk management measures. According to the official press release shared with CryptoPotato, Binance employs an internal risk engine that provides 24/7...Read More
Former Binance CEO Changpeng Zhao (CZ) has been moved from his prison to the RRM Long Beach halfway house in California. However, X users and numerous crypto firms have mistakenly interpreted the news to be an early release for Zhao. Zhao To Be Released In September CZ was initially being held at FCI Lompoc II...Read More
Binance plans to hire 1,000 new employees this year, with a substantial focus on compliance roles. A large portion of these hires is specifically aimed at expanding the company’s compliance team from its current 500 members to 700 by the end of 2024. CEO Richard Teng, who is currently in the US for discussions with...Read More
