Browsing:Binance

Binance Labs
2 days ago 3 mins read

Binance Labs Invests in Renzo to Support Liquid Restaking on the EigenLayer Ecosystem

Denver, USA, February 22nd, 2024 Binance Labs, the venture capital and incubation arm of Binance, has invested in Renzo, a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer, built to promote the widespread adoption of EigenLayer. The protocol’s mission is to develop shared security on EigenLayer and set the standard for risk management in restaking.  Renzo Protocol, EigenLayer’s Restaking Hub, consists of Ethereum smart contracts that facilitate trustless collaboration between stakers, node operators, and Actively Validated Services (AVSs). These contracts allow users to restake their assets, delegate them to node operators, and interact with on-chain service modules, abstracting away complexities

Crypto exchange Binance has frozen almost $4.2 million worth of stolen XRP in an effort to help Ripple recover the money that was stolen.
3 weeks ago 1 min read

Binance exchange freezes $4.2 million worth of XRP that was stolen from Chris Larsen’s accounts

Crypto exchange Binance has frozen almost $4.2 million worth of stolen XRP in an effort to help Ripple recover the money that was stolen. Richard Teng, the CEO of Binance, acknowledged the work of ZachXBT, the crypto detective who was the first to expose the Ripple hack, in an official post on X. Teng formally announced the platform’s decision to freeze the ill-gotten money and thanked Ripple for working with other exchanges, like as Binance. “The Binance team has managed to freeze $4.2 million worth of XRP that was stolen by the exploiter,” the speaker said. “We will continue to

Binance Trading Volume Reached Almost $4 Trillion In 2023
3 weeks ago 1 min read

Binance Trading Volume Reached Almost $4 Trillion In 2023

Binance, the world’s largest centralized exchange (CEX), has demonstrated its resilience and leadership in 2023, according to a recent CoinGecko report. Despite increased regulatory scrutiny and major leadership changes, Binance has maintained its market dominance. The exchange began the year with an impressive 65% market share, gradually declining throughout 2023 but finishing the year with a formidable 44% market share in December. In December 2023, Binance’s spot trading volume increased by over 38% month over month, reaching $428 billion. Binance accounted for 53% of total spot trading volume this year, generating a whopping $3.8 trillion. The journey was not without

Florida regulators have taken legal action against Binance US
4 weeks ago 1 min read

Regulators freeze and shut down Binance operations in Alaska and Florida

Binance US is dealing with increased regulatory challenges. The company, which was already under scrutiny following CEO Changpeng Zhao’s resignation and investigations by the US Department of Justice, has now faced a regulatory freeze, resulting in the suspension of operations in Alaska and Florida. In the most recent development, Florida regulators have taken legal action against Binance US, deeming the crypto giant a potential threat to public safety. As a precautionary measure, regulators have suspended Binance US services in the state, emphasizing the importance of protecting the public’s interests. Binance US obtained a money services license in Florida in 2020,

Former Binance CEO Changpeng Zhao faced a legal setback in his efforts to obtain permission to travel to the United Arab Emirates.
1 month ago 1 min read

Binance CZ’S $4.5B equity offer fails to secure urgent UAE visit again

Former Binance CEO Changpeng Zhao, also known as CZ, faced a legal setback in his efforts to obtain permission to travel to the United Arab Emirates for the second time. Despite offering $4.5 billion in Binance equity as collateral, a federal judge denied his request, limiting his ability to visit a close associate who is hospitalized and undergoing surgery. Court documents filed on Wednesday revealed that CZ’s legal team wrote to Judge Richard Jones on December 22, emphasizing the urgency of the situation. The letter emphasized CZ’s critical need to be present during the hospitalization and surgery of someone close

Binance's legal team has expressed concerns about the US SEC's regulation approach.
1 month ago 1 min read

Binance Challenges US SEC in Court, Citing Crypto Regulations’ Uncertain Landscape

In a legal dispute between Binance and the SEC, Binance’s legal team has expressed concerns about the US SEC’s classification of most crypto as securities. This clash highlights the ambiguity in regulatory guidelines, which makes compliance difficult for crypto companies. Binance believes the SEC’s lack of clarity in crypto company regulations creates difficulty. The SEC encourages crypto firms to register, but the lack of clear guidelines makes it difficult for these companies to meet regulatory requirements. Binance claims that this confusion impedes the growth of legitimate businesses in the crypto market. At the heart of the legal debate is the

Binance and Gulf Innova have joined forces to launch Binance TH
1 month ago 1 min read

Binance and Gulf Innova launched Binance TH, a new crypto exchange in Thailand

Binance and Gulf Innova have joined forces to launch Binance TH, a cutting-edge crypto exchange tailored for the Thai market. The exchange, which is now open for business, represents a strategic collaboration that prioritizes security, transparency, and local support. CEO Nirun Fuwattananukul expressed gratitude for the collaboration and emphasized the importance of working closely with Thai regulators to bring this innovative platform to fruition. Binance TH is intended to provide Thai users with a smooth and secure trading experience. The exchange facilitates Thai baht transactions, increasing accessibility for local users. Binance TH is committed to adhering to Thailand’s SEC rules

Binance assures users of their funds' safety after its app is removed from India's Play Store and App Store
1 month ago 1 min read

Binance assures users of their funds’ safety after its app is removed from India’s Play Store and App Store

Both Google’s Play Store and Apple’s App Store in India have recently removed applications from prominent crypto exchanges such as Binance and OKX. The removal follows the Indian government’s cautionary advisory regarding crypto-related activities. The Financial Intelligence Unit of India issued a directive to several crypto exchanges, specifically Binance and OKX, on December 28, 2023, urging them to register and adhere to financial regulations. If the exchanges continued to operate without compliance, they would face severe legal consequences. Users are understandably concerned about the removal of Binance’s app from Indian app stores. Despite the app’s unavailability, Binance quickly addressed these

Apple's App Store in India recently restricted access to crypto exchange apps
2 months ago 2 mins read

Apple App Store in India has blocked Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC crypto exchange apps

Apple’s App Store in India recently restricted access to crypto exchange apps such as Binance, KuCoin, Bitget, Huobi, OKX, Gate.io, and MEXC. This decision comes just weeks after the Indian government issued a noncompliance notice to nearly a dozen offshore cryptocurrency exchanges. The Financial Intelligence Unit (FIU) of the Indian Ministry of Finance issued a notice to several exchanges, including Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex, and Bitfinex, on December 28, 2023, for allegedly operating illegally in India. The FIU emphasized that any exchange that caters to Indian users must register as a “reporting entity” and file

Binance US names Lesley O’Neill as Chief Compliance Officer amid increased SEC attention
2 months ago 1 min read

Binance US names Lesley O’Neill as Chief Compliance Officer amid increased SEC attention

Binance US is taking proactive steps to strengthen its compliance efforts in the face of increased scrutiny from regulatory bodies such as the SEC. Binance US has appointed Lesley O’Neill as Chief Compliance Officer in response to increased scrutiny and an evolving regulatory landscape. O’Neill’s role will be critical in managing legal affairs and improving the crypto exchange’s overall compliance framework. O’Neill brings a wealth of experience to her new position, having held positions in legal and compliance at Prove, EY, Milbank, and Bloomberg. O’Neill’s priorities include anti-money laundering measures and optimizing customer verification processes. By focusing on these critical

Binance founder Changpeng Zhao has been denied permission to travel abroad for the second time
2 months ago 1 min read

Binance Founder’s Travel Request Denied Again by U.S. Judge After Guilty Plea and $175M Bond Release

Binance founder Changpeng Zhao, also known as CZ, has been denied permission to travel abroad for the second time by a federal judge in the United States. This decision follows Zhao’s guilty plea and release on a $175 million personal recognizance bond. The judge raised concerns about Zhao’s flight risk, highlighting the former Binance CEO’s ongoing legal challenges. Judge Richard Jones has once again denied Changpeng Zhao’s request to travel abroad, citing concerns about the Binance founder’s potential flight risk. This is the second time Zhao’s travel plans have been thwarted, following his guilty plea to a charge of violating

Indian Authorities Issue Warning to Leading Crypto Exchanges for Non-Compliance
2 months ago 1 min read

India to ban 9 cryptocurrency exchanges URLs

Binance, Kucoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC, and Bitfinex are among nine prominent crypto exchanges that have received a warning from Indian regulatory authorities. The Financial Intelligence Unit India (FIU IND) has expressed concern about the failure of these exchanges to comply with registration regulations and regional legal requirements. The FIU IND, which is in charge of monitoring virtual digital asset activities, has issued compliance Show Cause Notices to nine overseas Virtual Digital Asset Service Providers (VDA SPs). The notices emphasize potential liability for the exchanges’ noncompliance with the Prevention of Money Laundering Act (PMLA) and the Anti-Money Laundering/Counter