On June 7, attorneys from Gibson Dunn and Latham & Watkins, two of Binance’s law firms, made a court filing in response to the latest SEC crackdown. In it, they claim that SEC Chair Gary Gensler offered to serve as an advisor to Binance’s parent company in 2019. According to the filing, Gensler met with...Read More
Robinhood Markets is weighing on its crypto offerings according to the firm’s legal chief Dan Gallagher amid intensified crackdown on the industry. The move comes as the securities regulator targeted a broad swath of the digital asset market, launching a pair of lawsuits against two heavyweights – Binance and Coinbase – that together account for...Read More
Binance CEO Changpeng Zhao (CZ) has been issued a summons by the U.S. District Court for the District of Columbia following a lawsuit against himself and his exchange on Monday. The CEO must respond to the summons within 21 days, but is not required to appear in person. Other entities named in the lawsuit, including...Read More
The US Securities and Exchange Commission (SEC) seems to be out to prove that at least one crypto asset is a security, as stated by Chairman Gary Gensler. The SEC recently sued two of the biggest exchanges back-to-back, Binance and Coinbase, alleging that both companies failed to register as crypto brokers, exchange, and clearing agencies....Read More
Retail traders and investors are not the only ones suffering in America’s war on crypto. Company executives are also seeing their fortunes diminished due to recent enforcement actions. This week, the SEC sued both Binance and Coinbase, dousing the flames of optimism for the crypto industry in 2023 following the cycle bottom after FTX collapsed....Read More
Binance doubled down its efforts on the non-fungible token sector as it announced support for Bitcoin NFTs on Tuesday amidst severe turmoil in the crypto industry. The exchange’s NFT marketplace is the latest contender to step into the Bitcoin NFTs ring following Magic Eden’s support for the same. According to the latest update, the newly...Read More
The world’s largest crypto exchange Binance is witnessing significant net outflows as thousands of crypto traders withdraw their funds from the platform following the latest lawsuit from the United States Securities and Exchange Commission (SEC). According to on-chain data from the blockchain analytics platform CryptoQuant, Binance recorded a net outflow of 11,380 BTC just the...Read More
If American regulators were aiming to crash crypto markets and generate losses by instilling fear in investors, they are achieving their goal. Cryptocurrency markets have shed $55 billion or around 5% since the Securities and Exchange Commission sued Binance for violating securities laws. As a result, total capitalization has dropped to $1.13 trillion, its lowest...Read More
On Monday, the U.S. Securities and Exchange Commission (SEC) pressed a slew of charges against Binance, marking one of the agency’s most significant enforcement actions against the crypto industry in history. Let’s have a look at the regulator’s most stunning allegations against the exchange, alongside Binance’s response to its claims. What Did Binance Do? The...Read More
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Binance – the world’s largest crypto exchange – on Monday, alongside its CEO Changpeng Zhao (CZ) and partner firm, Binance US. Allegations include securities law violations such as self-dealing market manipulation, and the sale/offer of multiple unregistered securities. According to a press release...Read More
Changpeng Zhao has recognized the ongoing situation and implicitly advised everyone to disregard any fear, uncertainty, and doubt (FUD), fake news, or attacks. In a Twitter post, he assured that his team is actively ensuring system stability, including withdrawals and deposits. A response will be provided once they receive the complaint, as the media sometimes...Read More
Leading cryptocurrency exchange, Binance, has just concluded its first metaverse reality show dubbed “Build The Block.” The show ends with the blockchain project zkPass emerging as the winner, opening the way to several awards from the exchange. zkPass is a decentralized privacy-protecting identity protocol that harnesses Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology to...Read More
Binance – the world’s largest cryptocurrency exchange – has confirmed that its “reevaluating” its talent base following an external report that the firm plans to lay off roughly 20% of its workforce next month. The report presents a stark contrast to Binance’s position of strength last year, having stood out among industry leaders for continuing...Read More
Binance is reportedly examining a proposal to offer its institutional clients the option to secure their collateral outside the crypto exchange in a bid to reduce counterparty risk. The move comes amidst growing calls from institutional digital-asset traders for a much-needed change after FTX’s dramatic collapse late last year that led to significant losses. Reducing...Read More
On Tuesday, the prices of bitcoin and other crypto assets were seen trading at a discount on the Australian arm of Binance, the world’s largest crypto exchange by trading volume, compared to rival local platforms. As of 1:10 pm, bitcoin (BTC) was trading at A$34,863 ($22,670) on Binance Australia, about A$7,516 ($4,913) lower than the...Read More
Following increased regulatory action from the SEC and other local and global watchdogs, members of the crypto community have been worrying about the industry’s future relationship with the banking sector. Pivot to Europe in The Cards The restlessness surrounding future crypto regulation was amplified following the collapse of both Signature Bank and Silvergate Bank, both...Read More
Binance has reportedly appointed Richard Teng to lead the crypto exchange’s regional markets outside the US. According to the report, Teng’s new role is essentially an expansion of his previous responsibilities which included heading Asia, Europe, the Middle East, and North Africa. In a statement, Chia Hock Lai, board chairman of the Blockchain Association Singapore,...Read More
The world’s leading cryptocurrency exchange – Binance – is launching a new NFT loan feature. It is designed to enable users to borrow cryptocurrency, using their non-fungible tokens as collateral. Binance continues its effort in the world of non-fungible tokens. According to a press release shared with CryptoPotato, the exchange is launching a new feature. It will...Read More
On the 25th of May, Binance announced the seizure of approximately $4.4 million in cryptocurrency belonging to fronts for North Korean organizations operating in the country and abroad. Due to sanctions against the rogue nation, agents working for it have often turned to illicit methods of raising funds, including theft of crypto. Illicit Research Funding...Read More
A Reuters report on Tuesday suggested that Binance – the world’s largest cryptocurrency exchange – comingled billions of dollars worth of customer assets with its corporate revenue in 2020 and 2021, obscuring the whereabouts of their money. Binance’s Chief Communications Officer Patrick Hillmann responded by calling the story “weak” and xenophobic but admitted that Binance...Read More
A United States Court has granted a motion to dismiss a lawsuit alleging Binance’s involvement in a pig butchering scam that stole roughly $8 million from its victim. According to a recent filing with the U.S. District Court for the Eastern District of Texas, Judge Amos Mazzant granted Binance’s motion to dismiss the case for...Read More
Australian big four bank Westpac has banned its customers from transacting with Binance, as part of a suite of scam protection measures. The development comes amidst mounting pressure on the crypto giant’s operations in the country. In a statement, Westpac revealed that it was blocking a number of cryptocurrency exchanges as part of a trial....Read More
Binance CEO Changpeng Zhao (CZ) recently unfollowed Tesla and SpaceX chief Elon Musk after what seemed like a long and friendly history between the two parties. Though neither executive has left any explicit clues, crypto Twitter has some theories about what may be driving tension between the tech billionaires. Did Twitter Shun Binance? Twitter account...Read More
The world’s largest crypto trading platform said it will be winding down its Canadian arm two years after being greenlighted to operate in the country. Binance mentioned a recent amendment in the local legislation that affected stablecoin deposits and purchases on exchanges. Binance announced its intentions on Twitter, saying it will “be joining other prominent...Read More
Binance is rolling out a new platform that seeks to connect institutional investors with crypto investment fund managers. At launch, the new platform, dubbed ‘Capital Connect,’ will be available to Binance VIP-level users including asset and fund managers, brokers, hedge funds, family offices and high net-worth individuals, liquidity providers, and corporations. Binance’s Free Service for...Read More
Leading cryptocurrency exchange Binance announced plans to add support for Bitcoin Ordinals in its NFT marketplace in the coming weeks. According to a statement sent to CryptoPotato, Binance NFT will integrate Bitcoin Ordinals non-fungible tokens into its platform later this month as the marketplace looks to expand its multi-chain ecosystem. Bitcoin NFTs Coming to Binance...Read More
Voyager Digital is planning to self-liquidate its assets and shut down operations after failing to secure purchase deals with Binance as well as FTX.US. The planned FTX-Voyager acquisition failed as a result of the exchange sliding into an abrupt bankruptcy and the subsequent arrest of its chief, Sam Bankman-Fried. However, the collapse of the deal...Read More
The authorities of Israel have reportedly seized around 190 cryptocurrency accounts at Binance since 2021, saying some of those were tied to the terrorist groups – Hamas and Islamic State. The exchange claimed that Reuters (the media outlet that informed about the confiscation) is “deliberately leaving out critical facts to fit their narrative.” It asserted...Read More
The world’s largest cryptocurrency exchange – Binance – claimed that someone had used ChatGPT to present Changpeng Zhao (CEO of the company) as an official in the Chinese Communist Party. Some experts have warned that the recent development in the Artificial Intelligence (AI) field could have a disruptive effect on journalism. Others alerted that ChatGPT...Read More
Tron founder and crypto entrepreneur Justin Sun transferred 56.1 million True USD (TUSD) worth over $56.4 million to crypto exchange Binance on Monday morning, sparking rumors about his intention to farm the just-released Sui (SUI) tokens on the Binance LaunchPool. Shortly after Whale Alert flagged the transaction, Binance’s CEO Changpeng Zhao (CZ) disclosed that the...Read More
