Following the guilty plea of Changpeng Zhao (CZ), founder and former CEO of crypto exchange Binance, in November 2023, several American states have asked the local arm of the trading platform to refrain from servicing their residents. The Wall Street Journal reported that authorities in Florida and Alaska recently instructed Binance.US to cease its services...Read More
Changpeng Zhao, the founder of the crypto exchange Binance, encountered a setback last month when a federal judge denied his request to travel to the United Arab Emirates. CZ proposed using his substantial $4.5 billion stake in Binance as collateral, based on the company’s valuation from its last fundraising round two years ago. However, the...Read More
The latest TokenInsight report reveals that 2023 witnessed shifts in market share and trading volume among top exchanges, with Binance’s numbers decreasing from 54.2% to 48.7% while OKX’s and Bybit’s increasing by 4.3% and 2.2%, respectively. Binance, Upbit, and OKX occupy the top three positions in total annual trading volume, while Binance, OKX, and Bybit...Read More
Binance, the largest cryptocurrency exchange by trading volume, with 76 billion every day which is the most trusted among investors has experienced many ups and downs in 2023 due to regulatory hurdles which might be CZ’s departure of the 4 billion settlement. According to TokenInsight which is token data the rating company reported that Binance...Read More
The trading volume for BRC-20 tokens has surged, rising from $10-15 million to over $500 million since November 2023, according to data from Kaiko. The data indicates a substantial increase in trading activity for tokens minted on the Bitcoin blockchain, with their volumes experiencing a tenfold growth since the close of 2023. BRC-20 Token Trading...Read More
Amidst a challenging backdrop where the crypto spot market witnessed its lowest activity levels in over four years, the downturn created a daunting scenario for centralized exchanges and market makers, exacerbated by the collapse of Sam Bankman-Fried’s FTX in November 2022. This incident had a profound impact on investor trust in centralized entities, casting a...Read More
Binance co-founder Yi He held at least a 10% share in Binance’s Cayman Islands holding company, according to a new report by WSJ. A former talk-show host, Yi He, reportedly holds significant influence over the marketing and investment sectors of the company. She also assumes the role of the largest shareholder within the firm in...Read More
Changpeng ‘CZ’ Zhao, the enigmatic figure behind Binance, is entangled in a legal battle that contrasts sharply with his staggering rise in wealth. The latest chapter in this narrative unfolds as CZ seeks court orders to seal motions tied to travel permissions, unloading a complex web of legal intricacies amidst his towering net worth surge....Read More
Earlier this week, a BreachForums user by the name of Miembro announced the sale of access to a Binance data request portal, built and maintained to accommodate police officers and government officials worldwide in their attempts to track down cybercriminals. The sale has since been paused, owing to a blunder involving a crypto mixer being...Read More
Major crypto exchange Binance will pay $2.7 billion in disgorgement and penalty to the Commodity Futures Trading Commission (CFTC), thereby concluding the regulator’s enforcement action against the company. Binance founder and former CEO Changpeng Zhao (CZ) will also pay $150 million to the regulatory watchdog. CFTC’s Case Against Binance Comes to an End In a...Read More
The crypto industry continues to display volatile trends as the market constantly faces significant price fluctuations in its value. Further, the BNB coin price displayed a notable uptrend in its value for the first time after a week, indicating a possibility of an increasing bullish sentiment in the crypto space. The Binance coin price traded...Read More
A survey conducted by Binance indicates that close to 50% of its users depend on crypto as a means to generate additional income. The latest observation was part of its new campaign, “Crypto is better with Binance.” Based on data from a survey with a sample size of 1,172 participants from November 15, 2023, to...Read More
The Bitcoin Ordinals market witnessed a remarkable surge in trading activity, with the volume surpassing $36 million on December 12 and subsequently establishing a new record. The excitement surrounding SATS increased following the official announcement from Binance regarding the inclusion of BRC-20 Sats (1000SATS). The spot trading pairs for 1000SATS were made accessible earlier this...Read More
In the ongoing legal dispute between Binance Holdings and the U.S. Securities and Exchange Commission (SEC), the former has filed a new submission to the U.S. District Court for the District of Columbia. Binance, along with its former CEO Changpeng Zhao (CZ), asserts that the SEC’s reliance on its prior settlement with the U.S. Department...Read More
Venus Protocol, a prominent lending market on the BNB Chain, has denied allegations of a major security breach over the past weekend. These speculations initially suggested a $54 billion exploit, as blockchain security firm SlowMist reported. Venus Protocol Refutes Claims of Major Exploit Brad Harrison, the Head of Venus Labs, addressed these concerns on December...Read More
A recent report from Binance Research reveals a remarkable surge in the total cryptocurrency market capitalization, which has climbed by about 110% year-to-date, adding over $870 billion in capital, with a notable 55% increase observed in Q4 alone. This growth follows a period of stagnation after the 2021 crypto highs, marking a potential shift in...Read More
Investment management firm VanEck has unveiled its 2024 predictions, forecasting not only record-breaking highs for Bitcoin but also an anticipated peak in the NFT market, signaling a significant transformation in the industry. The introduction of spot Bitcoin ETFs is expected to align with the prolonged anticipation of a U.S. recession, while the forthcoming halving event...Read More
Bybit and OKX have achieved record highs in their combined Derivatives market share. According to the latest Exchange Review by CCData, Bybit now holds an aggregated market share of 11.94%, while OKX dominates with 20.2%, totaling over 32% in November. This surge in market share comes when industry giant Binance is experiencing a decline in...Read More
A United States district judge has ruled that Changpeng Zhao (CZ), the founder and former CEO of the world’s largest cryptocurrency exchange Binance, will remain in the country until his sentencing on February 23, 2024. According to an official document, Judge Richard Jones agreed with the U.S. government that CZ’s return to his home in...Read More
The world’s largest cryptocurrency exchange, Binance, has experienced ailing on-chain activities since its $4.3 billion settlement with the United States Department of Justice (DOJ) less than two weeks ago. According to a report by market analytics platform CryptoQuant, Binance’s reserves have steadily declined as users continue to withdraw their assets. Binance Reserves Decline Binance’s reserves...Read More
Soccer star Cristiano Ronaldo has been hit with a $1 billion class action lawsuit for promoting the world’s largest cryptocurrency exchange, Binance. According to a document filed at the United States District Court for the Southern District of Florida Miami Division, the plaintiffs accuse Ronaldo of promoting, assisting, and participating in the offer and sale...Read More
Following his resignation as CEO of Binance, crypto billionaire Changpeng Zhao has now stepped down as the chairman of the board of directors at Binance.US – the exchange giant’s American arm. Binance.US confirmed CZ’s exit in a post to X on Tuesday, addressing various concerns related to the Justice Department’s historic settlement with its parent...Read More
The United States Securities and Exchange Commission (SEC) has remained persistent in its search for evidence that the world’s largest cryptocurrency exchange uses a backdoor to access user assets on its American arm, Binance.US. According to a report from the Wall Street Journal, attorneys for Binance.US in the exchange’s court battle with the SEC asked...Read More
Arthur Hayes, the founder of the BitMEX crypto exchange network, issued a statement expressing his perspective on the unfair treatment of Changpeng Zhao (CZ), the co-founder and former CEO of Binance, by American authorities. Hayes criticized the treatment, deeming it absurd and inconsistent, emphasizing that it only highlights the arbitrary nature of punishment. BitMEX Founder...Read More
An X user recently identified discrepancies in Binance’s BRC-20 ORDI balances caused by inconsistent indexing. On the UniSat indexer, Binance possesses 7.239 million ORDI, while the Ordiscan index reflects a holding of 2.293 million ORDI. This variance amounts to approximately five million. Discrepancies in BRC-20 ORDI Balances on Binance BRC-20 ORDI, an experimental token built...Read More
Binance’s new CEO, Richard Teng, has given an elaborate look into the next steps for the exchange and his vision for growth and innovation today. A track record of over six years marked by success and continuous growth showcases the CEO’s responsibility in leading a dedicated team, honoring the company’s legacy, and maintaining the trust...Read More
Almost a year after the collapse of FTX, Binance is now facing its challenges. However, unlike FTX, Binance is not collapsing. The exchange recently settled with the DOJ and other regulatory agencies, paying a $4.3 billion fine, a move that has further strengthened its position in the market. Though it witnessed billions in outflows, this...Read More
In his latest remarks, Kraken co-founder Jesse Powell spoke about the current state of the cryptocurrency industry amidst a backdrop of significant regulatory actions. Powell’s comments came shortly after a settlement between Binance and the U.S. Department of Justice, resulting in a $4.3 billion fine for Binance. Jesse Powell Critiques Regulatory Landscape In a recent...Read More
The largest cryptocurrency exchange – Binance – experienced an increase in the withdrawal of funds shortly after its chief executive, CZ, pled guilty to criminal charges. Although the mass exodus of digital assets from Binance has somewhat diminished, outflows persist. The latest data indicates a transfer of funds between Binance and Coinbase Pro. CZ pleaded...Read More
Binance’s founder and former CEO, Changpeng “CZ” Zhao, pleaded guilty to violating the Bank Secrecy Act. The charges against Binance include money laundering violations, conspiracy to engage in an unlicensed money-transmitting business, and violations of US sanctions. It’s worth noting that US authorities haven’t accused Binance of misusing user funds or engaging in market manipulation....Read More
