Browsing:Binance

FTX blames binance CEO
1 year ago 2 mins read

SBF says FTX had a 50% chance if Binance’s CEO, Changpeng Zhao, had not expressed concerns

In recent interviews, Sam Bankman-Fried, the founder of the infamous crypto exchange FTX, has spilled quite a bit of tea. The man once known as the crypto mogul has revealed that he has lost almost all of his wealth. SBF told Axios that the last time he checked his bank account, it held $100,000. This represents a more than 99% drop in his net worth, which was once estimated to be more than $16 billion prior to the collapse of FTX. Furthermore, the former FTX CEO’s fortune peaked at nearly $26.5 billion at one point. This, however, came crashing down

Binance is not a Chinese company
1 year ago 1 min read

“Binance is not a Chinese company, we are not related to China at all,” says CEO CZ

Chengpang Zhao (CZ), the CEO of Binance, the largest crypto exchange in the world, stole the show on November 24, 2022. Basically, since CZ made a bid to acquire Voyager, the bankrupt U.S.-based company that specializes in lending and financing for cryptocurrencies, he has been inundated with inquiries. Following up, FTX and Binance each made a bid to buy Voyager’s assets. In these terms, the FTX platform outperformed Binance U.S. and managed to secure the bid. All of this happened before the tragic event of the FTX platform’s failure and collapse. As a result, now that FTX is entirely out

CZ CEO Binance
1 year ago 1 min read

CEO of Binance, CZ claims he should have tweeted about FTX issues sooner

Changpeng Zhao or CZ, CEO of Binance, expressed regret for not sending an earlier tweet that led to the demise of the crypto exchange FTX. The CEO of the largest crypto exchange in the world made the statement during a live interview on Bloomberg TV on November 24. CZ said, “I actually reflect on the FTX situation and I kind of blame myself for tweeting that too late. As an industry, we let FTX get too big before we started questioning some of those things.” On November 8, Zhao tweeted that Binance would destroy every single FTT token—native FTX’s token—on

binance exchange is hiring
1 year ago 1 min read

Binance plans to hire 600 people by the end of the year to bring its total workforce to 8,000

Binance, the world’s largest crypto exchange, plans to hire 600 more employees by the end of the year, according to the company’s CEO. Changpeng Zhao (CZ) announced on November 21 that the company plans to hire 8,000 people by the end of the year. CZ wrote in his tweet that the exchange had about 5,900 employees in June and now has over 7,400. Concerns about Binance’s dominance in the cryptocurrency industry remain, especially after rival crypto exchange FTX collapsed earlier this month. Last week, CZ stated at an Indonesia conference that Binance intends to establish an industry recovery fund as

Binance Voyager Digital
1 year ago 1 min read

Binance reportedly re-bids to acquire bankrupt crypto lender Voyager

Binance US is getting ready to re-bid for the assets of the insolvent lending platform Voyager Digital, CoinDesk reported. Voyager Digital chose FTX.US to purchase its assets for $1.42 billion less than eight weeks prior to filing for Chapter 11 bankruptcy in July 2022. But after its collapse, the bankrupt crypto lender was left without a buyer. The American division of Binance, the largest cryptocurrency exchange in the world by volume, is getting ready to make another offer for the assets of struggling lender Voyager Digital. In July 2022, Voyager Digital voluntarily started a Chapter 11 restructuring process. After a

XRP Whale
1 year ago 1 min read

350,000,000 XRP transferred from Binance to an unknown wallet

Around 350 million XRP were transferred from Binance crypto exchange to an unknown wallet. The movement was reported by the blockchain tracking service Whale Alert. Furthermore, around 465 million XRP were moved by whales and exchanges. The total value of this cryptocurrency is staggering: $134,818,654. The deal was completed on November 16. Overall, XRP whale activity has been high over the last few days; on Wednesday, about 500 million Ripple-related tokens were exchanged. This includes the Binance transfer that was previously mentioned. Three transactions carrying 115 million XRP in lump sums of 30 million and 40 million coins were also

Binance has been granted FSP in the Abu Dhabi Global Market (ADGM)
1 year ago 1 min read

Binance receives Financial Services Permission in the Abu Dhabi Global Market

According to a report, Binance, the world’s largest cryptocurrency exchange, has been granted Financial Services Permission (FSP) by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM). Binance will be able to provide custody to professional clients through the FSP if they meet the FSP’s conditions as outlined by the FSRA. Following the news, Richard Teng, MENA and Europe Regional Head, stated: “Working with the ADGM and FSRA has been a highly collaborative process that underscores the value of cooperation between our industry and the public sector.” In April 10, 2022, the Financial Services Regulatory Authority

CZ Binance talks FTX crisis
1 year ago 1 min read

Binance is moving forward with the submission of FTX evidence to UK courts

Wu Blockchain tweeted about Binance’s declaration to submit evidence to UK lawmakers regarding its deal with FTX and decision to sell FTT. Blockchain tweeted that Binance’s announcement to submit the details would serve as “a witness in the group’s crypto asset inquiry,” citing Bloomberg news. When it was discovered that Alameda Research had some large FTT holdings that appeared suspicious, investors began withdrawing their assets in large numbers in order to avoid losing them. Soon after, Binance CEO Changpeng Zhao or CZ announced the company’s decision to sell the remaining FTT tokens in light of the recent revelations. As a

CZ CEO of Binance
2 years ago 1 min read

Binance establishes an industry recovery fund to assist projects experiencing liquidity issues

As the FTX crisis continues to have a negative impact on the markets, crypto exchange Binance is establishing a fund to assist potentially strong projects that are experiencing liquidity issues. Binance CEO Changpeng Zhao stated in a tweet that the fund aims to mitigate the cascading negative effects of FTX’s collapse by assisting projects that he described as “strong, but in a liquidity crisis.” While CZ did not provide all of the details on which projects would be eligible, he did advise teams that they should contact Binance Labs, the exchange’s venture capital arm. He also encouraged other industry players

SBF Crypto exchange FTX
2 years ago 1 min read

Bahamas securities regulator freezes FTX exchange assets

On Thursday, the assets of the local branch of the troubled cryptocurrency exchange FTX were frozen by a Bahamas securities regulator. According to a formal statement released by the Securities Commission of the Bahamas (BSC) on Thursday, FTX Digital Markets Ltd. (FDM) and associated parties have had their assets frozen and their registration suspended. The Securities Commission of The Bahamas also took the first step toward putting FTX Digital Markets (FDM), a local subsidiary, into what is known as “provisional liquidation,” where assets will be preserved for the time being rather than being distributed to creditors. The commission continued by

FTX CEO SBF
2 years ago 1 min read

Breaking: FTX CEO apologizes over FTX liquidity crisis

FTX CEO Sam Bankman-Fried has apologized in one of his first public statements since the crypto market was inundated with rumors and worries about FTX’s insolvency. SBF acknowledged to investors that he “should have done better” in terms of being transparent about the situation with FTX in a thread on Twitter on November 10. The exchange’s CEO claimed that user withdrawals were causing a “liquidity crunch,” and he asked Binance for financial support. However, the potential partnership later broke down. On November 6, approximately $5 billion was withdrawn from the exchange, according to SBF. FTX International’s assets were worth more

SBF ftx ceo
2 years ago 1 min read

Sam Bankman-Fried, the CEO of FTX, reportedly requests $8 billion emergency funding from investors

Sam Bankman-Fried, the CEO of FTX, reportedly requested emergency funding from investors on a November 9 investor call to cover an $8 billion shortfall. According to reports, Sam Bankman-Fried has asked investors for $8 billion in emergency funding to make up for a shortfall brought on by the influx of withdrawal requests that his crypto exchange has been receiving lately. The CEO reportedly made the request to investors in a call on November 9, where he discussed ways to help solve FTX’s financial problems, the Wall Street Journal (WSJ) reported, citing “people familiar with the matter). As per the source,

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