Binance

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

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

January 15, 2024 1 min read

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

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

January 10, 2024 2 mins read

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

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

January 9, 2024 1 min read

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