Binance crypto exchange has announced that it will support the network upgrade of Terra Classic (LUNC). The exchange has also provided information on what LUNC users should expect during and after the upgrade period. The upgrade, which will take place on epoch 15,029, is a result of the LUNC community voting to pass Proposal 11242, which eliminates the re-minting of a portion of the burn tokens. The upgrade is expected to take approximately three hours and during this time, deposits and withdrawals will be disabled on the Binance exchange. This will affect USTC, LUNC, and ANC for the duration of
Binance, one of the world’s largest cryptocurrency exchanges, has announced plans to expand its hiring by as much as 30% in 2023. This news comes as many of its competitors in the industry are cutting jobs due to the economic downturn. In a statement, Binance CEO Changpeng Zhao said that the company plans to increase its headcount by 15-30% in the coming year. He also emphasized that the company is looking for a wide range of talents, from engineers to compliance officers, to support its ongoing global expansion. Binance has been on a growth trajectory in recent years, with strategic
Binance, the world’s leading cryptocurrency exchange, has received approval from the Swedish Financial Supervisory Authority to operate as a financial institution in the country. This means that Swedish residents can now access Binance’s crypto services, including euro deposits and withdrawals. This approval is a significant step in Binance’s ongoing expansion in Europe. The exchange has already received approval from six other European Union member states, including France, Italy, Lithuania, Spain, Cyprus, and Poland. Despite the ongoing challenges faced by the Web 3.0 industry, Binance is continuing to expand its operations. The company plans to increase its headcount by 15% to
US federal prosecutors have reportedly issued subpoenas to several hedge funds as part of an ongoing investigation into potential money laundering violations by Binance Global Inc., according to the Washington Post. The US attorney’s office for the Western District of Washington in Seattle is seeking records of the subpoenaed firms’ communications with Binance, according to sources familiar with the matter. It is not yet clear if the subpoenas will lead to legal charges being brought against Binance. Furthermore, the US Justice Department is reportedly divided on whether to charge Binance and its executives as part of its anti-money laundering investigation
One of the largest pharmacy chains in Ukraine, ANC Pharmacy, has teamed up with Binance Ukraine to allow customers to make cryptocurrency payments at their stores through the contactless Binance Pay service. The payment feature will initially be available at ANC pharmacies in Kyiv and at stores including Kopiyka and Shara. In order to pay with cryptocurrency at ANC pharmacies, customers must first download the Binance app and then visit the ANC.ua website, where they can select a product to order online and pay with the Binance Pay service. The payment can then be picked up at a preferred pharmacy.
Binance has concluded its investigation into the purchase of Gopax, a South Korean cryptocurrency exchange, and is now back in the country. The acquisition, first revealed in December 2021, experienced some setbacks due to final negotiations. Changpeng Zhao, the CEO of Binance, has expressed his interest in returning to the South Korean market, a major hub for cryptocurrency economies. Binance is currently in the process of obtaining a majority share of Gopax, which is owned by CEO Lee Jun-haeng. The South Korean government has put into place strict guidelines on international virtual asset providers with the intention of preventing money
Binance is a cryptocurrency exchange that was founded in 2017 by Changpeng Zhao, also known as CZ. It has quickly become one of the largest and most popular exchanges in the world, with a reported 120 million registered users. Binance is known for its wide range of trading options, as well as its user-friendly interface and low trading fees. Features One of the key features of Binance is its low trading fees, which are some of the lowest in the industry. Binance offers a tiered trading fee structure that allows users who trade higher volumes to pay lower fees. In
Binance France and its parent company, Binance Holdings Limited, are being sued by 15 investors in France over allegations of misleading commercial practices and fraudulent concealment. The plaintiffs claim that Binance violated French laws by advertising and distributing crypto services before being registered with the country’s authorities. The complaint includes screenshots of Binance’s social media activity prior to its registration, including a Telegram channel called “Binance French,” and the plaintiffs claim to have lost over €2.4 million following the collapse of the TerraUSD stablecoin, which Binance had advertised as being backed by the US dollar. In a blog post, Binance
According to Mike Alfred, an investor and Bitcoin advocate, Binance, a crypto trading platform, has no single person serving as its Chief Financial Officer (CFO). Instead, Alfred claims that Binance has a “decentralized CFO” consisting of a group of over 20 employees in the company’s Treasury, as the CEO, Changpeng Zhao, allegedly does not want a centralized CFO. Alfred also alleges that Binance is in talks with potential investors, including Warren Buffett’s Berkshire Hathaway, about an equity round that would provide support and credibility to the company. It should be noted that these claims have not been confirmed.
Binance has published a blog post in Chinese to address seven issues that have caused fear, uncertainty, and doubt (FUD) among its users. The first issue addressed was the temporary suspension of USDC withdrawals earlier this month, which Binance explained was due to a “token swap” conversion period. It also confirmed that it has sufficient reserves for withdrawals, and that its financial status is healthy due to its profit from transaction fees. In response to reports that auditing firms Mazars and the “Big Four” had refused to work with crypto companies, Binance stated that encrypted on-chain verification is a new
Binance.US has won the bid to acquire the assets of the defunct cryptocurrency platform, Voyager. The bid, worth approximately $1.022 billion, was described as the “highest and best bid” by Voyager, and it aims to return cryptocurrency to customers. Initially, the bid was won by FTX, but the deal fell through following the collapse of the crypto exchange. As part of the deal, Binance.US will make a good faith deposit of $10 million and bear Voyager’s expenses up to $15 million. The deadline for the completion of the acquisition is set for April 18, 2022, and in the event that
Binance CEO and Kevin O’Leary exchange words over their alleged involvement in the company following FTX collapse
In the wake of the collapse of the FTX cryptocurrency exchange, there has been a heated exchange of words between Binance CEO Changpeng Zhao (CZ) and Canadian investor Kevin O’Leary over their alleged involvement in the company. O’Leary testified at a Congressional hearing on the FTX collapse on December 14, where he claimed that Binance and FTX were in competition and that Binance had intentionally put FTX out of business. O’Leary also claimed that he had contacted former FTX CEO SBF, who told him that FTX had spent $2-3 billion in off-balance sheet funds buying back FTX stock from Binance