In a recent press statement, Binance Japan announced the launch of a dedicated platform to onboard new customers in the country. This move is aimed at bolstering the embattled crypto exchange’s business and expanding its services in the Asian market. Binance Japan, formerly known as SAKURA Exchange Bitcoin, Inc., is one of the largest exchanges
Exchanges
The Nigerian Securities and Exchange Commission (SEC) has once again emphasized that Binance’s operations within the country are illegal. In a recent statement, the regulator specifically pointed out Binance’s official website and stated that the activities of the platform are not registered or regulated by the Commission. This reaffirmation of the warning comes amid the
Cryptocurrency exchange Binance and its CEO Changpeng ‘CZ’ Zhao have filed a motion to dismiss the charges brought against them by the U.S. Commodity Futures Trading Commission (CFTC), stating that the regulator acted beyond its powers. Binance argued that the CFTC failed to establish personal jurisdiction over the foreign Binance Entities and Mr. Zhao since
Disgraced FTX founder Sam Bankman-Fried (SBF) may be subjected to a gag order, preventing him from making any public statements concerning FTX and the individuals involved in the legal case, according to Reuters. Judge Lewis Kaplan is expected to decide whether this gag order is necessary during a hearing scheduled for July 26. SBF has
Crypto exchange Binance has announced the successful integration of the Bitcoin Lightning Network (LN) for its deposits and withdrawals activities. The LN is a payment protocol built on Bitcoin that aims to address scalability issues and improve user experience. Binance Joins Leading Exchanges Binance now joins the ranks of Bitfinex, Kraken, and OKX as one
In a recent announcement on July 14, Kain Warwick, the founder of Infinex, unveiled a groundbreaking frontend called Infinex. This innovative platform aims to compete with centralized exchanges by serving as a frontend to the derivatives liquidity protocol, Synthetix. Infinex is specifically designed to address three major obstacles: user migration to Optimism, acquisition of the
Bitcoin (BTC) and other digital assets, such as Tether (USDT), are currently being traded at an 8% discount on Binance.US, a popular cryptocurrency exchange. This situation can be attributed to liquidity issues that have arisen on the platform following a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). According to data from Binance.US,
Crypto.com, a cryptocurrency platform, has recently filed legal documents to recover funds following an erroneous transaction. The incident occurred on June 24, 2022, when Georgia resident James Deutero McJunkins Jr., a Crypto.com user, received an incorrect deposit of $50,000 in his Crypto.com account. McJunkins promptly transferred the funds to a bank account. Despite Crypto.com’s multiple
According to a report by CBC on July 4, two Canadian teenagers have been apprehended and charged in connection with the theft of $4.2 million in cryptocurrency. The accused teenagers allegedly posed as Coinbase support to gain unauthorized access to a victim’s exchange account, stealing a significant amount in Bitcoin (BTC) and Ethereum (ETH). While
Binance, one of the leading cryptocurrency exchanges, experienced a significant decline in spot trading volume during the second quarter. This decline, amounting to nearly 70%, was primarily attributed to the reintroduction of fees for its most liquid Bitcoin pairs. The exchange had previously offered zero-fee trading for Binance USD (BUSD), but due to regulatory challenges
Revolut, a leading fintech firm from the United Kingdom (UK), has recently announced the discontinuation of support for three major cryptocurrencies on its platform. In an email sent to users based in the United States (US) on June 28, Revolut stated that Cardano (ADA), Polygon (MATIC), and Solana (SOL) will no longer be available for
CME Group, a prominent trading platform for derivatives, has announced its plans to introduce Ether/Bitcoin ratio futures this summer, subject to regulatory approval. This new futures product, set to launch on July 31, 2023, will enable traders to speculate on the relative price movement between the two cryptocurrencies. About Ratio Futures Contracts A ratio futures
EDX Markets, a crypto exchange backed by Charles Schwab, Fidelity, and Citadel Securities, has reportedly terminated its planned collaboration with Paxos and is now close to finalizing an agreement with Anchorage Digital, according to Bloomberg. In October of last year, EDX Markets had originally announced its partnership with Paxos. Paxos, a New York-based blockchain firm
Belgium’s Financial Services and Markets Authority (FSMA) has ordered the global cryptocurrency exchange and blockchain platform, Binance, to immediately halt all cryptocurrency services offered in the country. The FSMA issued a statement on June 23, citing concerns over Binance’s exchange services between virtual and legal currencies and custody wallet services, which were found to originate
Binance.US, a cryptocurrency exchange, has announced that it has resolved almost all delayed U.S. dollar withdrawals. The company has also warned customers that USD withdrawals may soon be removed due to its banking partners discontinuing the service. Resolution Binance.US has been working with its banking partners to restore USD withdrawals but has suggested that this
OPNX, a cryptocurrency exchange, has recently announced a partnership with 3AC Ventures. The announcement of the partnership was met with criticism from the crypto community. The purpose of the partnership is to expand the OPNX ecosystem. However, no further details were given about the expansion plans. Partnership Details The co-founders of OPNX are Kyle Davies
Binance, the controversial crypto exchange, has announced the launch of a regulated digital asset platform in Kazakhstan. The exchange has secured licensing from Kazakhstan’s AIFC Financial Services Authority (AFSA) to manage the platform and provide custodial services at the Astana International Finance Center (AIFC) from October 2022. The new platform will offer Kazakhstani users exchange
Gemini, the digital assets exchange led by Tyler and Cameron Winklevoss, has announced its plan to expand its operations in the Asia-Pacific (APAC) region. The company aims to increase its headcount in Singapore to over 100 employees in the next 12 months, according to a company announcement made on June 19, 2023. The Singapore office
Crypto.com has been accused of having a potential conflict of interest due to its internal trading team operating as a market maker on its platform, according to a report by the Financial Times. Market makers provide liquidity, which allows users to buy and sell quickly at prevailing market prices, reducing the risk of price fluctuations
CoinEx, a Hong Kong-based cryptocurrency exchange, has agreed to pay over $600,000 in penalties and refund $1.17 million to its 4,691 New York investors in cryptocurrencies over the next 90 days. This decision was made in compliance with the New York Attorney General Letitia James’ regulations. The Attorney General stated that this agreement would warn
Changpeng Zhao, CEO of Binance, has denied rumours that the exchange was selling Bitcoin to protect BNB’s price. In a tweet on June 13, CZ stated that Binance had not sold BTC or BNB and that the exchange still held a bankrupt FTX’s FTT. The statement was in response to several market analysts who alleged
According to recently published data from CryptoCompare, Bitcoin (BTC) is currently trading at a premium of more than 1% on Binance.US. This is despite the fact that the exchange’s USD trading volume has dropped to new lows following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the company. BTC is currently trading above $26,000
Binance CEO Changpeng Zhao has denied allegations made by the US Securities and Exchange Commission (SEC) that one of his holding firms received $12 billion in US customer funds. Responding to a Coindesk article that cited a court filing as its source, Zhao stated that “this is simply false” and that Binance.US had only around
According to data from DeFillama, crypto traders using Binance US withdrew $78.48 million on June 7, despite assurances that their funds were safe. This news follows a report that the US Securities and Exchange Commission (SEC) had sued Binance.US for violating federal securities law and placing investors at risk. On June 5, Binance US recorded
On-chain analyst Willy Woo has stated that Binance customers are not concerned about recent enforcement actions by the Securities Exchange Commission (SEC). He made these comments regarding Bitcoin holders on the main global platform. However, further analysis showed that Binance.US altcoin holders have been withdrawing significant funds. The SEC filed a motion on June 6,
Binance.US, the US-based subsidiary of the troubled Binance exchange, has described the lawsuit filed by the US Securities and Exchange Commission (SEC) against its platform as “baseless.” In a statement released on June 5, Binance.US stated that the lawsuit was another example of the financial regulator’s regulatory approach by enforcement towards the cryptocurrency industry. According
According to Reuters, Guangying Chen, a top executive at Binance, reportedly controlled five bank accounts of the exchange’s independent U.S. subsidiary between 2019 and 2020. Bank records reportedly show that Silvergate Bank authorized Chen as the “Primary Admin User” of the five bank accounts. One of the accounts held American customers’ funds, while another was