After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds. Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT. In a statement, OKX’s Chief Marketing...Read More
The fall of Sam Bankman-Fried’s $32 billion crypto empire highlighted the importance of self-custody for users. In fact, investors have already hopped on the trend of holding their assets themselves rather than entrusting their hard-earned money to a third-party platform. According to the latest data compiled by crypto analytic company, Santiment, Bitcoin’s supply on centralized...Read More
The world’s largest cryptocurrency exchange – Binance – announced its services in Poland are now fully compliant with domestic regulatory standards for virtual asset service providers (VASPs). Polish users are required to sign new Terms and Conditions with Binance Poland to continue using the company’s products. In a recent blog post, Binance said the update comes...Read More
The FTX crisis has put even more heat on centralized crypto exchanges, and cold wallets have all the focus now. It is only natural for the world’s largest crypto exchange to allow institutional players to keep their crypto in cold storage solution. Binance announced a new service, dubbed ‘Binance Mirror,’ an off-exchange settlement solution that...Read More
Crypto.com has been hit by yet another wave of layoffs. The co-founder and CEO of the crypto exchange, Kris Marszalek announced the decision to reduce the headcount by 20% citing ongoing economic headwinds and unforeseeable industry events. The exec revealed all affected employees have already been notified and added that the reductions were not related...Read More
Binance US’ plan to acquire some of Voyager Digital’s assets for $1.02 billion is one step closer as the bankrupt crypto lender received initial court approval for its proposal. The United States District Judge Michael Wiles of the bankruptcy court for the Southern District of New York on January 10th approved Voyager to work out...Read More
Indian crypto exchange WazirX released its proof-of-reserves (PoR) report disclosing its reserves-to-liability ratio of over 1:1. Alongside the paper, published by CoinGabbar, a third-party platform that tracks crypto assets, WazirX also made its wallet addresses, and list of exchanges available to the public. At press time, the Indian company had over $283 million of total...Read More
The Swedish Financial Supervisory Authority registered the world’s largest cryptocurrency exchange – Binance – as a financial institution for management and trading in virtual currency in the Scandinavian country. This is the seventh EU nation where the platform has received such a license, with the previous six being Italy, France, Spain, Poland, Cyprus, and Lithuania....Read More
At times when crypto-focused companies are slashing headcounts and decreasing operating expenses, Binance plans to expand its members by up to 30%. That’s according to the exchange CEO – Changpeng Zhao – who was speaking at a crypto-focused conference in St. Moritz. CZ said that he hopes for Binance to expand its team by between...Read More
In a filing on Jan. 4, the financial regulator submitted a limited objection and reservation of rights. The SEC is pushing back on Binance’s U.S. division’s plan to buy bankrupt crypto lender Voyager Digital in a deal valued at around $1 billion. According to the agency, the purchase agreement does not include sufficient detail about...Read More
One of the largest pharmacy chains in Ukraine – ANC Pharmacy – joined forces with Binance to enable customers to pay for medical products and supplies in cryptocurrencies. The exchange has provided its services to the war-torn country numerous times over the past several months. It donated $10 million worth of digital assets to Ukraine...Read More
The world’s largest crypto trading platform is reportedly close to completing the acquisition of Gopax – one of the most utilized Korean exchanges. If closed, the deal will signify Binance’s entrance into the South Korean market. Citing a report by a local media outlet, the popular blockchain journalist Colin Wu informed that Binance had “recently...Read More
Leading cryptocurrency exchange Binance has announced that it is changing the burning mechanism for Terra Classic (LUNC) trading fees. According to the exchange, the changes are in response to two controversial proposals – Proposal 10983 and 11111 – where LUNC burn is being re-minted as a development fund. Binance Makes Changes to LUNC Burn Mechanism...Read More
Glassnode data shows a decrease in the 7-Day MA of bitcoin leaving centralized exchanges with only 986.237 BTC getting withdrawn in the past week or so. The declining outflow could signal that investors have restored some faith in CEXs after the gigantic collapse of FTX. Billions of dollars worth of various digital assets were withdrawn...Read More
Cryptocurrency exchange OKX released its second Proof of Reserves (PoR) on its website on December 22nd. The new report would enable users to view and self-verify the results of two PoRs with the help of open-source tools, the company said in an official statement. OKX also promised to publish the PoR report every month. OKX’s Proof-of-Reserves...Read More
Binance Labs – the investment arm of crypto exchange Binance – reportedly made a historical return on investment, reaching as high as 2,100%. As a result, the total assets under management have hit $7.5 billion, according to the latest blog post. The platform also assured users its “financial status is very healthy” and added that...Read More
The collapsed cryptocurrency exchange FTX reportedly paid 94% of the $84 million purchase of a majority stake in Blockfolio in FTT tokens. The coin played a leading role in the platform’s crash last month. CZ said Binance plans to dump its entire FTT stash (23 million tokens worth over $580 million at the time) amid...Read More
Jo Johnson – the brother of the UK’s former PM, Boris Johnson – reportedly resigned from his advisory role in Bifinity (a payments technology company launched by Binance). The world’s largest cryptocurrency platform has had several brushes with British regulators over the past few years. Despite the tension, the company aims to become a registered...Read More
The crypto winter is proving to be unbearable for some, but other businesses enjoy the cold weather. Binance is taking advantage of the current market conditions to expand into the Asian market by acquiring its third licensed crypto exchange. This Dec. 19, Binance confirmed that it became the majority shareholder of Indonesian cryptocurrency exchange Tokocrypto,...Read More
Binance US chief Brian Shroder assured his followers on Monday that his exchange is prepared to process every last withdraw customer withdrawal – unlike certain competitors. He also expanded on his company’s successful bid to purchase Voyager’s assets worth $1.02 billion and bring an end to the defunct crypto lender’s bankruptcy proceedings as soon as...Read More
Binance US has entered into an agreement with Voyager Digital to acquire its assets. The bid from the cryptocurrency exchange also means that there’s a path for Voyager customer funds to be unlocked “as soon as possible.” CryptoPotato reported earlier in November that CZ had confirmed that Binance US will be bidding for the assets...Read More
The company that audited both Binance and Crypto.com – Mazars group – will be pausing its work with cryptocurrency businesses. In a statement reported by Bloomberg, a spokesperson from Binance said: “Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto,com, KuCoin, and Binance. Unfortunately,...Read More
Changpeng Zhao – CEO Binance – agreed that the collapse of FTX has caused some panic in the space. He also reiterated that the fact that they were audited by a somewhat reputable firm caused others in that business to be more cautious when working with crypto businesses. He assured that Binance is in good...Read More
The Dubai-based platform announced the launch of a Merkle Tree-based proof-of-reserve system to enable users to verify their assets deposited into the exchange as well as Bybit’s holdings. The verification is available in both trading and funding accounts. Bybit said that the new feature will also allow verification of the exchange’s wallet ownership and that...Read More
Binance CEO, Changpeng “CZ” Zhao stated that the “abnormal” trading of altcoins on the platform appears to be market behavior after the company revealed that the activity in question had nothing to do with compromised accounts or leaked API keys. According to the exec’s latest tweet, a user deposited funds into a trading account and...Read More
Aligning with ambitious investment plans in the ongoing bear market, Binance Labs – the venture capital arm of the world’s largest crypto exchange – announced leading a private round II for GoPlus Security. The value of the investment has not been disclosed. The fresh capital infusion will be deployed to develop security data further, build...Read More
Binance CEO Changpeng Zhao (CZ) and ex-FTX boss Sam Bankman-Fried (SBF) traded barbs over Twitter on Friday as each contested the true nature of their private business dealings. During the exchange, Bankman-Fried asked CZ why he would “lie” about their situation, given he had already “won,” post bankruptcy. CZ’s Story CZ began with reference to...Read More
An independent global auditor has confirmed that all Bitcoin circulating on Binance – the world’s largest crypto exchange – is fully accounted for. The audit allows any user of the exchange to confirm the safety of their Bitcoin balance using on-chain data. As verified by the Mazars Veriitas auditing service, Binance’s Bitcoin was 101% collateralized...Read More
Binance US – the American branch of the world’s largest crypto exchange – has eliminated all Ether (ETH) spot trading fees just six months after doing the same for Bitcoin (BTC) pairs on the platform. The zero-fee model will expand free trading to the platform’s ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD pairs. In a press release...Read More
Changpeng Zhao – CEO of the world’s largest crypto exchange, Binance – rejected some of the latest assumptions regarding himself and his company’s involvement in FTX’s crash. He reiterated his position that the main culprit of the catastrophe was Sam Bankman-Fried (SBF), describing him as “one of the greatest fraudsters” of all time. CZ’s List...Read More
