Changpeng Zhao – the CEO of the world’s leading cryptocurrency exchange Binance – outlined two vital lessons following the saga between his company and FTX. In his view, crypto exchanges should not use their own tokens as collateral, and individuals should never borrow money to run a crypto enterprise. In a recent tweet, Binance’s executive...Read More
From SBF rescuing insolvent crypto companies left and right just months earlier to his empire in a near-doom state needing a bailout, there appears no light at the end of the tunnel as the current crypto market depression intensifies. Many experts commented that the current crypto winter would separate the chaff from the wheat. No...Read More
Fears of a Terra-style debacle have seeped into the crypto market as the Binance-FTX drama continues. Binance CEO CZ made headlines by announcing plans to liquidate entire FTT holdings gradually to avoid any market impact. His crypto exchange had already exited from FTX equity last year. While CZ clarified that the move should not be...Read More
Amid massive uncertainty surrounding FTX and its ability to process withdrawals, the exchange’s CEO Sam Bankman-Fried (SBF) has announced that the company is being sold to Binance. Binance CEO Changpeng Zhao (CZ) has also confirmed the news, stating that Binance will help FTX navigate its current “liquidity crunch.” FTX Comes Full Circle In a tweet...Read More
Despite the rally during the past couple of weeks, the cryptocurrency took a beating today. Bitcoin’s price plunged by more than 5%, dropping $20K. The total liquidations on a 24-hour scale have reached around $360 million. The recent rally brought hopes to many that the crypto winter might be coming to an end, but this...Read More
Crypto exchange FTX is rapidly losing stablecoin liquidity after Binance CEO Changpeng Zhao (CZ) announced his company’s full exit from its FTT position on Sunday. ETH withdrawals from FTX have also tapped an all-time high, possibly signaling worry among depositors about the safety of their funds. FTX Withdrawal Wave According to a tweet thread from...Read More
In a quick-paced turn of events over the weekend, Binance CEO Changpeng Zhao announced that his company would liquidate all FTT holdings given the “recent revelations.” The statement made FTT price take a sharp plunge, falling by nearly 10% in 24 hours. Binance Exits Its FTT Position Even before what CZ said could sink in,...Read More
The world’s largest cryptocurrency exchange – Binance – was one of Elon Musk’s financial backers in his multi-billion acquisition of Twitter, contributing $500 million. CEO Changpeng Zhao (CZ) believes the social media platform will eliminate many problems, including spam comments and scam accounts, with Musk at the helm. Twitter Should Benefit Under the New Regime...Read More
On Oct. 26, crypto giant Binance announced Binance Oracle, a new service that will source, verify, and feed off-chain data to smart contracts running on the BNB Chain. The company claims that the Oracles will provide a “more reliable, secure, and accurate data sourcing solution for smart contracts.” The new service, which launches this month,...Read More
After allocating $500 million to support Elon Musk’s Twitter buyout, the world’s largest crypto exchange said it wants to establish a dedicated unit to help the social media platform’s upcoming challenges. The statement from the company, as reported by Bloomberg, informed that one of the key areas where Binance wants to help the most is...Read More
Changpeng Zhao – CEO of Binance – revealed that the National Bank of the Republic of Kazakhstan will integrate its central bank digital currency (CBDC) into BNB Chain. The firm has strengthened its presence in the Central Asian country lately. The local regulator AIFC Financial Services Authority (AFSA) allowed it to operate a digital asset...Read More
Binance is on the verge of uncovering the hacker(s) behind the $570 million exploit on its cross-chain bridge, BSC Token Hub, earlier this month. In a recent interview with CNBC’s ‘Squawk Box Europe,’ Binance CEO Changpeng “CZ” Zhao said the firm had received substantial tips from law enforcement authorities to identify the hacker(s) that drained...Read More
Binance has been selling its USDC reserves and converting them into its own stablecoin, BUSD. On Oct. 23, The Block’s Frank Chaparro noticed the supply shift as the amount of BUSD topped $20 billion for the first time ever. Its supply currently stands at an all-time high of $21.7 billion, according to CoinGecko. This represents...Read More
Binance US – the American subsidiary of the world’s largest crypto exchange – appointed the former FBI agent BJ Kang as its first Head of Investigations. In this role, he will aim to ensure maximum customer protection by “partnering closely” with regulators and law enforcement agents. ‘The Most Feared Man on Wall Street’ Joins Binance...Read More
After Binance became the second-largest entity by voting power in the Uniswap DAO, the CEO of the popular DEX, Hayden Adams, took it to Twitter to describe the situation as “unique” while adding that “UNI technically belongs to its users.” He accused Binance of using user funds to pile up governance votes. Hayden Adams on...Read More
Crypto markets may be in the depths of a lengthening bear market, but that provides the perfect environment to accumulate Bitcoin for those with conviction that there will be a recovery. This is exactly what has been happening, according to CryptoQuant’s CEO, Ki Young Ju, who posted his findings on Oct. 20. The metrics reveal...Read More
Binance announced updates to the deposit and withdrawal fees for LUNC and USTC on the Terra Classic network. This comes after the community passed proposal 5234, first presented by Akujiro, to lower the tax burn from 1.2% to 0.2% and take 10% of the collected seigniorage and add it to the community pool at the...Read More
Changpeng Zhao (CZ) – CEO of Binance – called out a Reuters journalist on Monday over a handful of “accusations” they’ve made against the exchange over the past several months. The executive said the reporter has written several articles about Binance based on anonymous sources, and that they recently crossed into “indefensible territory” with their...Read More
With the bear market taking a heavy toll on the crypto mining industry, Binance has announced a new lending project. The development follows the founder of Bitmain, Jihan Wu’s announcement of establishing a $250 million fund to purchase distressed assets from mining firms. Wu is currently spearheading the bitcoin mining rig maker’s spin-off, Bitdeer Technologies,...Read More
The BNB Smart Chain will go through a hard fork tomorrow. The upgrade will take place at around 08:00 AM (UTC) at block height 22,107,423. The changes are aimed at mitigating the cross-chain infrastructure between the Beacon Chain and the Smar Chain in an attempt to re-enable the cross-chain back. What is the BNB Smart...Read More
After spending a fortune on fortune on deals and investments in 2022, Binance may still have a mountain of dry powder left to deploy before the year closes. The CEO of the world’s largest crypto exchange, Changpeng Zhao (CZ), recently said that his company may ultimately spend over $1 billion this year on acquisitions and...Read More
The BNB Chain was temporarily paused after an exploit on its cross-chain bridge. The current impact estimate is around $100 million and $110 million equivalent of cryptocurrency. According to the latest update, the BNB Chain has resumed working as usual, but let’s have a look at how the hack went down, according to a popular...Read More
Binance has announced a pause across the entire Binance Smart Chain (BSC or BNB Chain) following what appears to be one of the largest exploits in DeFi history. An attacker has reportedly hacked another BNB chain user for 2 million BNB, worth $600 million. Another DeFi Catastrophe According to BNB Chain on Twitter, the “temporary”...Read More
The world’s largest cryptocurrency platform – Binance – received a permanent license from Kazakhstan’s AIFC Financial Services Authority (AFSA) to operate a digital asset platform and provide custodial services in the country. Earlier this month, the company and the Kazakhstani monetary regulators signed a Memorandum of Understanding (MoU) to create a safe environment for domestic...Read More
The world’s largest cryptocurrency exchange – Binance – signed a Memorandum of Understanding (MoU) with the Financial Monitoring Agency of the Republic of Kazakhstan. Over the course of the agreement, both parties expressed a mutual interest in creating a safe crypto environment in the Asian country and bringing down financial crime in the area. Binance’s...Read More
The world’s largest crypto exchange Binance has secured a registration license from New Zealand authorities and also set up a local entity in the country. The latest development is in line with Binance’s continuous efforts to expand its services globally. Binance CEO Changpeng Zhao, also known as “CZ,” announced the news in a video posted...Read More
For several years now, Binance has played an important role as the big brother of the crypto industry by assisting in the recovery of funds from users who have been victims of theft, scams, or hacks. But now, they are aiming higher with an e-crime training program. On September 27, Binance announced the official launch...Read More
Binance is preparing for a formal entry to the Japanese market by seeking a permit to operate in the country. The renewed interest from the world’s largest crypto trading platform in Japan follows the relaxing crypto laws in the world’s third largest economy under Prime Minister Fumio Kishida. Binance Sets Eyes on Japan Market As...Read More
The world’s largest cryptocurrency exchange – Binance – obtained a minimal viable product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The authorization enables the company to start providing a range of digital asset services to qualified retail and institutional investors in the region. Prior to that, Dubai’s watchdogs awarded Binance with a license...Read More
On September 19, WazirX, one of India’s leading cryptocurrency exchanges, announced the delisting of Circle’s USDC, Paxos’ USDP, and TrueUSD (TUSD) stablecoins, effective September 26, following in Binance’s footsteps. According to the statement, USDC, USDP, and TUSD deposits have already been suspended. In addition, users will have to withdraw their funds by October 05, or...Read More
