Browsing:Binance

Binance has announced the suspension of support several cross-chain bridge tokens connected to the Multichain project.
10 months ago 2 mins read

Binance Halts Transfers of Multichain-Linked Tokens Following May Incident

Binance, one of the leading cryptocurrency exchanges, has announced the suspension of support for deposits and withdrawals of several cross-chain bridge tokens connected to the Multichain project. The suspension, which will commence on July 7, affects a range of tokens minted on Multichain across various networks. Tokens deployed on BNB Smart Chain, such as Polkastarter (POLS), Alchemy Pay (ACH), Beefy.Finance (BIFI), and Harvest Finance (FARM), will be impacted by the suspension. Additionally, tokens minted through the bridge on Fantom, including Beefy.Finance (BIFI) and Alpaca Finance (ALPACA), as well as Travala (AVA), minted on Ethereum’s bridge, are also part of the

Binance Spot Trading Volume Plunges 70% Amid Regulatory Pressures and Bitcoin Fee Reintroduction
10 months ago 2 mins read

Binance Spot Trading Volume Drops by 70% Amid Regulatory Pressures and Bitcoin Fee Reintroduction

Binance, one of the world’s largest cryptocurrency exchanges, experienced a 70% decline in spot trading volume during the second quarter of this year. The introduction of fees for its most liquid Bitcoin pairs and increasing regulatory pressures were the key factors behind this slump, according to data from Kaiko. The decline in spot trading volume was not unique to Binance, as other major exchanges such as Coinbase, Kraken, OKX, and Huobi also witnessed a significant drop in trading activity during the same period. The reintroduction of fees for its most liquid Bitcoin pairs was a major contributing factor to the

Over $90 Million Worth of ETH Withdrawn from Binance, On-Chain Analysis Shows
10 months ago 1 min read

Ethereum Whale Moves $90 Million from Binance in a Month, Reveals On-Chain Data

An Ethereum (ETH) whale has recently caught the attention of crypto enthusiasts as it withdrew a staggering amount of ETH from the popular exchange Binance. Over the course of a month, the whale moved more than $91 million worth of the leading altcoin, according to blockchain tracking firm Lookonchain. Lookonchain’s data reveals that the Ethereum whale withdrew a total of 50,100 ETH, equivalent to $91.2 million, from Binance starting from June 8th. Interestingly, the whale has also engaged in staking, with a stake of 34,560 ETH, valued at approximately $65 million. In addition to the ETH withdrawals, Lookonchain also observed

Binance Research has revealed that institutional investors are bullish on the crypto industry.
10 months ago 1 min read

63.5% of Institutional Investors Remain Bullish on Crypto, Binance Survey Reveals

A recent report by Binance Research has revealed that institutional investors are bullish on the crypto industry. The study found that a significant majority of respondents hold a positive view of the sector for the next 12 months, as well as over the next decade. The report also found that institutional investors believe that regulatory clarity and increased institutional involvement will be key drivers of crypto adoption. Additionally, the report suggests that a significant proportion of institutional investors have maintained or increased their crypto allocation over the past year. Positive Outlook for Crypto According to the “Institutional Crypto Outlook Survey”

Binance experienced a further decrease in its market share during the month of June.
10 months ago 2 mins read

Market Share of Binance Drops in June

Binance, the renowned cryptocurrency exchange, experienced a further decrease in its market share during the month of June. This decline coincided with the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Binance and its founder, Changpeng Zhao. According to data from CCData, Binance’s spot market share in June dropped to 41.9%, down from 43% the previous month. This marks the fourth consecutive monthly decline for the exchange, resulting in its lowest market share level since August 2022. Despite this decrease, Binance still retains its position as the largest cryptocurrency exchange worldwide, boasting a significant lead over its competitors.

Maverick Protocol (MAV)
10 months ago 1 min read

Maverick Protocol (MAV) Now Available for Trading on Binance

Binance has announced the opening of trading for Maverick Protocol (MAV), the native token of a DeFi project supported by prominent investors such as Founders Fund, Pantera Capital, Coinbase Ventures, and Binance Labs. According to Binance’s official announcement, the exchange will initially support three trading pairs for MAV: MAV/BTC, MAV/USDT, and MAV/TUSD. The trading of Maverick Protocol on Binance commenced on June 28, 2023, at 08:00 (UTC). Traders will enjoy the advantage of zero fee trading on the MAV/TUSD pair “until further notice,” as stated by the exchange. The listing of Maverick Protocol on Binance follows its recent addition to

Judge Amy Berman Jackson denied Binance's motion to prevent the SEC from making public statements regarding the case.
10 months ago 1 min read

Court Rejects Binance’s Claim of SEC Misconduct in Recent Ruling

In a recent development in the ongoing legal battle between crypto exchange Binance and the U.S. Securities and Exchange Commission (SEC), Judge Amy Berman Jackson denied Binance’s motion to prevent the SEC from making public statements regarding the case. The decision came on Monday, June 26, following Binance’s allegations of misleading statements that could potentially impact the case and prejudice the jury pool. Judge Jackson emphasized that it was not within the court’s purview to intervene in “wordsmithing” press releases from either party. While she acknowledged the ethical obligations of all lawyers involved, the judge stated that court intervention at

Binance, has withdrawn its license application from Austria.
10 months ago 1 min read

Binance Withdraws from Austria, Finance FWD Reveals

One of the world’s largest cryptocurrency exchanges, Binance, has withdrawn its license application from Austria. This latest development follows the recent exits from the Netherlands and Cyprus, as the exchange continues to navigate a complex regulatory landscape. In addition to its European woes, Binance is facing legal battles with the US Securities and Exchange Commission (SEC) and has encountered regulatory issues in Canada and Australia. Binance’s Withdrawal from Austria Finance FWD has reported that Binance withdrew its license application from Austria some time ago. The exchange declined to provide further details when questioned by Blockworks. However, Binance emphasized its commitment

The Financial Services of Belgium has ordered Binance to immediately cease offering its services to customers in Belgium.
10 months ago 1 min read

Belgium’s Markets Regulator Orders Binance to Cease Crypto Offerings

The Financial Services and Markets Authority (FSMA) of Belgium has ordered Binance, a major cryptocurrency exchange, to immediately cease offering its services to customers in Belgium. The regulator found that Binance was offering exchange services and custody wallet services involving virtual currencies and legal currencies from countries outside the European Economic Area, which is a violation of the FSMA’s prohibition. The FSMA’s order explicitly directs Binance to discontinue offering or providing any such services within Belgium without any delay. The regulator’s decision to crack down on Binance in Belgium adds to the mounting regulatory challenges faced by the exchange. Binance

Binance.US Resolves USD Withdrawal Issues
10 months ago 1 min read

Binance.US Resolves USD Withdrawal Issue, But Warns of Potential Disruptions

Binance.US, the United States-based cryptocurrency exchange, has successfully resolved the issue concerning the withdrawal of US dollars. The exchange collaborated closely with its banking partners to rectify the problem, providing users with the ability to withdraw USD without any hindrance. However, Binance.US has cautioned customers that this resolution may only be temporary. In a recent update, the exchange assured users that its system is fully operational and the processing time for US dollar withdrawal requests is expected to return to the standard five-business-day turnaround period. This comes after Binance.US temporarily suspended dollar deposits and warned customers about an upcoming pause

The head of Binance Brazil has been summoned to testify before the Brazilian Parliament's probe
10 months ago 1 min read

Brazil Accuses Binance of Operating Pyramid Scheme, Threatening Reputation

The head of Binance Brazil, Guilherme Haddad, has been summoned to testify before the Brazilian Parliament’s probe into suspected pyramid schemes in the country. The request, made by Brazilian Deputy Alfredo Gaspar, awaits a decision by the Parliamentary Commission of Inquiry (CPI) on June 27. If approved, Haddad will be obligated to answer questions before the Brazilian Chamber of Deputies, shedding light on Binance‘s activities in the country, its relationship with B Fintech (its official representative), and any connections with companies facing legal issues for consumer harm. Gaspar has alleged that Binance facilitated pyramid schemes in Brazil through asset transfers,

Neutron cross-chain smart contract platform has raised $10 million
10 months ago 2 mins read

Binance Labs and CoinFund Lead $10M Funding Round for Neutron

Neutron, a cross-chain smart contract platform focused on interchain security within the Cosmos ecosystem, has raised $10 million in a funding round led by Binance Labs and CoinFund. Other notable participants in the funding round include Delphi Ventures, LongHash, and Nomad. The funding will be used to advance the development and growth of Neutron’s blockchain software and support the expansion of its ecosystem. Binance expressed its intention to create an environment that attracts a wider community of developers and projects, with the goal of fostering innovation, security, and user-friendly decentralized applications (DApps). Yibo Ling, Binance’s Chief Business Officer, emphasized the

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