Binance

Binance to transfer large amount of Bitcoin (BTC) to another address as part of its wallet maintenance

March 5, 2024 1 min read

Binance, the world’s leading crypto exchange, has issued a warning about large-scale Bitcoin transfers due to routine wallet maintenance. The exchange said it will be moving a significant amount of BTC to another address within its network. While announcing the move, the exchange reassured users that these transactions are part of internal operations and not indicative of any outward flow of funds. The crypto exchange has taken the proactive step

Binance exchange suspends Nigeria Naira (NGN) deposits

March 5, 2024 1 min read

Binance exchange has said it will leave the Nigerian market and stop all services that use the Nigerian naira (NGN), which is the country’s official currency. After March 8, the largest crypto exchange by trading volume will no longer let people withdraw NGN. Any leftover balances will be automatically converted to the stablecoin Tether (USDT). Furthermore, the exchange wants Nigerian users to make a smooth transition, so they have been

Nigerian authorities issue a final warning to Binance CEO Richard Teng

March 5, 2024 1 min read

Nigerian authorities have reportedly issued a final warning to Binance CEO Richard Teng, demanding his presence before the House of Representatives Committee on Financial Crimes by March 4. This comes after Binance settled with the U.S. Department of Justice for money laundering and agreed to a $4.3 billion fine. The committee is investigating Binance for alleged financial crimes, including money laundering and supporting terrorism. Failure to comply could lead to

Binance Coin (BNB) price reaches $400, marking a significant rebound despite Binance’s legal issues

February 27, 2024 1 min read

Binance, the world’s largest crypto exchange, has seen its native crypto, BNB coin breaking the $400 mark for the first time since May 2022, surging by over 3%. This comes despite facing legal issues in the US. Trying to solve the issue, the exchange agreed to a $4.3 billion plea deal. This hefty sum was paid to address charges related to anti-money laundering and sanctions violations. In addition, Binance‘s legal

Binance exchange agrees to pay historic $4.3B in fines; founder CZ awaits April sentencing

February 25, 2024 1 min read

Binance, the world’s largest crypto exchange, has agreed to a $4.3 billion settlement in a federal case, marking a historic high in financial enforcement actions. The settlement with the U.S. Department of Justice (DOJ) includes a $1.8 million criminal fine and $2.5 million in forfeitures for negligence in due diligence. In addition, the DOJ emphasized that punishment aims to hold Binance accountable and deter similar criminal activities. Plus, the settlement’s

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

February 22, 2024 3 mins read

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

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

February 2, 2024 1 min read

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

Binance Trading Volume Reached Almost $4 Trillion In 2023

February 1, 2024 1 min read

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

Regulators freeze and shut down Binance operations in Alaska and Florida

January 28, 2024 1 min read

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

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

January 25, 2024 1 min read

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

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

January 23, 2024 1 min read

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

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

January 16, 2024 1 min read

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