It has been a wild ride for the world’s largest cryptocurrency exchange – Binance, this year. As US watchdogs pursue it for alleged violation of federal laws, the platform appears to be losing its market share at a rapid pace. Blockchain analytical firm Kaiko reported that Binance’s spot market share has dropped to 50% from...Read More
The world’s largest cryptocurrency exchange – Binance – will purportedly launch services on its new platform in Japan next month. The firm pulled out of the Land of the Rising Sun in 2018 after having a major dispute with the local regulators. Binance’s CEO – Changpeng Zhao (CZ) – has supposedly confirmed the news in a...Read More
Binance’s legal team filed a motion in an Illinois district court yesterday evening, notifying the judge presiding over the case that two separate requests to dismiss charges against Binance and CZ will be served on the 27th of July. Joint Motion, Along With One for Former Compliance Officer Although a single joint motion will be...Read More
The Australian Securities and Investments Commission (ASIC) announced the cancellation of the AFS license of bankrupt crypto exchange FTX’s Australian entity, effective from July 14. The Australian arm had once boasted 30,000 retail clients and serviced 132 domestic companies. FTX Australia will be able to provide limited financial services while winding up its client interactions...Read More
The world’s leading cryptocurrency exchange by means of daily traded volume, Binance, is experiencing certain technical issues. As a result, the platform has taken steps to suspend certain market order functions. In a Twitter update, Binance revealed that the platform has temporarily paused certain market order functions for all of the spot and margin trading...Read More
The world’s largest cryptocurrency exchange – Binance – completed its 24th quarterly burn of its native token, burning 1,991,854 BNB. The development, carried out every three months, should help the company reduce the overall supply of the coin to 100 million. Binance informed that its most recent BNB burn equaled approximately $484 million. The process also...Read More
The world’s largest cryptocurrency exchange – Binance – ended its partnership with the Argentine Football Association (AFA), claiming the latter has not “fully met its contractual obligations.” The agreement, which turned the platform into the Global Main Sponsor of Argentina’s national soccer team, was supposed to last until 2027. Parting Ways Binance and the AFA signed the...Read More
Crypto exchange Binance announced it has completed the integration of Bitcoin on the Lightning Network (LN). The move will enable Binance users to leverage the scaling solution for Bitcoin deposits and withdrawals. When depositing BTC, users will have the additional option of “BTC-Lightning” alongside the standard choices of Bitcoin, BEP20, SegWit, and others. With the...Read More
Several traditional media outlets reported recently that Binance, the world’s largest crypto exchange, has or will have to dismiss thousands of employees in the wake of its legal battle with US regulators. The company’s CEO confirmed the layoffs but disagreed with the “FUD” reported numbers of terminated staff members. CNBC, WSJ Reports Citing a person...Read More
Binance, the world’s largest cryptocurrency exchange, is celebrating its sixth anniversary today. In commemoration of the feat, the exchange’s founder and CEO, Changpeng Zhao (CZ), has reminisced on several events since the platform’s launch. In a statement sent to CryptoPotato, the CEO revealed that Binance was launched in 2017 with $15 million worth of digital...Read More
Changpeng Zhao – CEO of crypto exchange Binance – believes his company has formed “a tight team” partly due to the “Fear, Uncertainty, Doubt” (FUD) that surrounds it on a regular basis. The firm has been coping with regulatory issues with the US Securities and Exchange Commission (SEC), the Department of Justice (DOJ), and other...Read More
Bitcoin and Ethereum are trading at an enticing discount on Binance.US, but not all users will be able to leverage it. At nearly $27,500, Bitcoin is trading about $2,500 lower on Binance.US compared to global spot markets. Ethereum, on the other hand, was trading at $1,700 – a discount of $200, offering market participants a...Read More
The Portuguese soccer megastar Cristiano Ronaldo launched a new NFT collection called “Forever CR7: The GOAT.” The digital items are live on Binance NFT Marketplace and depict historic goalscoring moments from his career. Ronaldo’s memorable bicycle kick goal against Juventus in 2018 is featured as a Super Super Rare NFT with a bidding price of...Read More
Changpeng Zhao (CZ), the CEO and founder of leading crypto exchange Binance, announced that his company’s users, assets, and platform were unaffected by the recent hack on the cross-chain router protocol Multichain. The Binance boss tweeted that the exchange had finalized all asset swaps and closed deposits a while before the incident occurred. Binance Unaffected...Read More
Noah Perlman – Chief Compliance Officer of Binance – said he will continue working at the world’s largest cryptocurrency exchange. The company has been coping with serious regulatory problems recently, while some top executives resigned from their posts. CEO Changpeng Zhao (CZ) confirmed the departures, but claimed they were not related to the lawsuits coming...Read More
A slew of senior executives at Binance are reportedly fleeing en masse as the company grapples with a massive lawsuit from the Securities and Exchange Commission (SEC) and a Justice Department investigation into its CEO Changpeng Zhao (CZ). One executive – former Chief Strategy Officer Patrick Hillman – has already confirmed his departure. Chaos In...Read More
Binance CEO Changpeng Zhao (CZ) explained on Wednesday why Binance spends time supporting cryptocurrencies and blockchains beyond those it chiefly develops. While the executive remained optimistic about the BNB Chain ecosystem, he said that he personally is a “heavy promoter of Bitcoin (BTC).” Are Binance’s Blockchain Centralized? In an AMA hosted over Twitter on Wednesday,...Read More
Binance Academy – the educational arm of crypto exchange Binance – announced a partnership with Coursera. The collaboration with the leading online learning platforms that boast more than 124 million learners globally aims to bring educational opportunities to everyone in the form of a comprehensive suite of learning programs that are slated for launch over...Read More
The Australian Securities and Investment Commission (ASIC) has carried out a search at Binance’s offices in Australia as a part of an ongoing inquiry into the crypto exchange’s former derivative businesses. The search, which happened on Tuesday, concentrated on Binance’s adherence to Australian regulations. A Binance spokesperson recently said that the exchange is “ Committed...Read More
A low-profile but highly influential senior executive at Binance has spoken out as the company begins legal battles against two top market regulators in the United States. Yi He, who boasts a massive fortune as one of the company’s early shareholders, has also had children with Binance CEO Changpeng Zhao (CZ). The SEC Lawsuit He...Read More
In an email to its users, Binance has revealed that the platform’s EUR fiat payments partner, Paysafe, will stop offering SEPA deposits to Binance users. According to the email, the change will take place on September 25th, 2023. After this date, users will have to use new banking details to make EUR deposits to their...Read More
Seychelles-based crypto exchange KuCoin is pushing for mandatory KYC upgrades as its competitors face regulatory challenges across various jurisdictions. In a bid to embrace global compliance requirements, KuCoin announced an upgrade of its KYC authentication rules and systems from next month onwards. Beefing Up KYC Measures The new rules mandate all newly registered users to...Read More
Binance’s U.S. subsidiary has challenged claims from the Securities and Exchange Commission (SEC) that the company mismanaged user assets as “misleading.” In a motion filed on Wednesday, the exchange pointed to contradictory statements from the regulator suggesting that customers’ assets have not, in fact, been transferred outside of the United States. The SEC’s Conflicting Statements...Read More
Binance has deepened its presence in the country of Kazakhstan, despite the ongoing regulatory turmoil in other parts of the world – namely, the United States. The world’s largest cryptocurrency exchange – Binance – has launched a regulated digital asset platform in Kazakhstan. According to the official release: The new platform will offer Kazakhstani users...Read More
Following through on its promise in May, crypto exchange giant Binance confirmed on Tuesday that it has begun running multiple nodes on Bitcoin’s lightning network. The exchange plans to leverage the layer-2 scaling solution to enable cheaper Bitcoin (BTC) deposits and withdrawals on its platform. Binance resolved to integrate lightning after an explosion in memecoin...Read More
The world’s leading cryptocurrency exchange has been under fire recently, and it appears that the shots are coming from multiple directions. The US Securities and Exchange Commission is suing the company on 13 different counts, including for violating the country’s securities laws. Most recently, though, reports are starting to emerge of supposedly fake companies operating...Read More
Crypto exchange giant Binance has moved at least nine figures worth of its Bitcoin to a new blockchain address, the company announced on Monday. The move has not affected the safety of user funds, which remain locked away with Binance in cold storage. Massive Move From Binance’s Wallet According to data from Blockchain.com, Binance’s new...Read More
While Binance is busy fighting a pitched legal battle in the U.S., its alleged woes in another part of the world seem to have been unfounded. Entity Previously Unknown to Binance Recently, the Nigerian SEC declared an entity known as Binance Nigeria Limited illegal, forbidding it from doing any business within the African nation. According...Read More
The Texas State Securities Board filed an emergency cease and desist order against crypto trading platform Abra and its Chief Executive Officer Bill Barhydt. The watchdog claimed that the company misled its customers and committed securities fraud by offering some of its products, such as Abra Earn. The regulator added that the firm has been...Read More
Binance is also preparing a BNB Chain layer-2 scaling solution to improve network transaction speeds and costs. Separately, the firm announced on June 15 that Binance Pool has launched a “Bitcoin Transaction Accelerator.” The new solution will allow users to confirm their transactions on the Bitcoin network quicker regardless of any potential network congestion issues,...Read More
