Browsing:BNB

Binance Coin (BNB) price reaches $400
2 months ago 1 min read

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

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 issues stem from admissions of facilitating transactions for “terrorist groups” like “Hamas”, underscoring the gravity of their compliance lapses. Furthermore, the plea deal mandates the appointment of an independent compliance

26th Quarterly BNB Token Burn Successfully Completed
3 months ago 1 min read

Binance Burns Over 2 Million BNB Tokens Valued At $636 Million

Binance crypto exchange announced the successful completion of the 26th quarterly Binance Coin (BNB) token burn via the BNB Chain. The burn event, which included the auto-burn process and the Pioneer Burn Program, resulted in a significant reduction in the native token’s circulating supply. During the most recent burn event, the Auto-Burn process, which is designed to run independently of Binance’s centralized exchange (CEX), removed a significant 2,141,487.27 BNB from circulation. This amounts to around $636 million in USD. Binance emphasizes the auto-burn mechanism as an auditable and objective method of ensuring transparency. The Pioneer Burn Program, another key component

Solana briefly surpassed Binance's BNB in market cap during the rally
4 months ago 1 min read

Solana’s price drops after the December rally; BNB regains market position

Following an impressive December rally in which Solana’s price increased by 120%, the crypto experienced a cooling-off period in the days following Christmas. Solana briefly surpassed Binance’s BNB in market cap during the rally. During an impressive December rally, Solana’s market cap briefly surpassed that of BNB. However, Solana entered a correction phase after Christmas, retracing from its yearly high of $123 to below $100. Solana is currently trading at $108, down approximately 13% from its peak. BNB’s price has risen by 12%, allowing it to reclaim its position as the fourth-largest crypto by market cap, surpassing Solana. The volatile

BNB Surges 10% as Sleepless AI Launches on Binance
4 months ago 1 min read

Binance Coin (BNB) surges by over 12% with Sleepless AI launch on Binance

Binance’s native token, BNB, saw a 12% increase in value following the announcement of Sleepless AI (AI), the 42nd project on Launchpool. The project introduces a one-of-a-kind gaming platform that combines artificial intelligence (AI) and blockchain technology to bring innovation to the gaming industry. Binance users can farm AI tokens for seven days starting December 28, 2023, by staking BNB, FDUSD, and TUSD. The launch of Sleepless AI on the Binance platform has sparked considerable interest, as evidenced by the rise in the value of BNB. To participate in the staking process, Binance users are required to complete Know Your

Binance Faces Market Share Challenges Amid Legal Woes but Shows Signs of Recovery Post $4.3 Billion Fine
4 months ago 1 min read

Binance’s market share falls amid U.S. legal issues but shows signs of recovery after paying a $4.3 billion fine

Binance, the world’s largest crypto exchange, saw its market share decline this year due to legal issues in the United States. The US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) stepped up their investigations into Binance, accusing the platform of a variety of violations, including transferring US customers to its global platform and engaging in wash trading. The legal issues, combined with the recent collapse of FTX, prompted investors to withdraw their funds from Binance. Binance controlled roughly 70% of the market at the start of 2023. However, when the exchange suspended certain trading activities

John Reed Stark
4 months ago 1 min read

Former SEC Chairman Warns of Binance’s Growing Legal Problems in the Face of DOJ and SEC Probe

Former SEC Internet Enforcement Chief John Reed Stark recently shared his thoughts on Binance, the global cryptocurrency exchange, and its mounting legal problems. His remarks shed light on the intense scrutiny directed at Binance and its former CEO, Changpeng Zhao (CZ) by both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Stark emphasized Binance’s extraordinary level of scrutiny, citing DOJ documents that reveal the extent of monitoring and commitments Binance has made. According to Stark, the DOJ’s demands include strict adherence to rules and regulations, which could result in significant costs for the crypto exchange.

Binance Labs & BNB Chain Open New Founder-focused Track to Incubate 100 Early-stage Projects
5 months ago 4 mins read

Binance Labs & BNB Chain Open New Founder-focused Track to Incubate 100 Early-stage Projects

DUBAI, UAE, November 24th, 2023 Binance Labs, in partnership with BNB Chain and CMC Labs, has introduced a new Founder Track to the Most Valuable Builder (MVB) Accelerator Program. MVB, now in its 7th season, is an accelerator program jointly organized by Binance Labs and BNB Chain. The program was launched in 2021 with a focus on supporting builders and growing the BNB Chain ecosystem. This season, the organizers are welcoming CMC Labs to the MVB program as a strategic partner. The MVB program now consists of two tracks. The newly added Founder Track functions as a venture studio dedicated to incubating 100 innovative

BNB is currently trading for $258, up 4.6%
5 months ago 1 min read

BNB surges to $258 despite Binance facing $4 billion settlement as US justice department demands resolution

Binance is presently facing a big obstacle as the US Justice Department allegedly wants to pay over $4 billion to end an extensive investigation. If granted, this demand might lead to one of the biggest crypto settlements ever. As per the reports from Bloomberg, the request from the Justice Department is a component of the resolution to the ongoing investigation into Binance’s operations. Furthermore, there are hints that the founder of Binance may be charged with a crime in the US. However, the possible agreement might provide Binance with a way to carry on with its business in the US

BNB Chain has introduced the opBNB testnet on Optimism's OP Stack
10 months ago 1 min read

BNB Chain Introduces Layer 2 Testnet Built on Optimism’s OP Stack

BNB Chain, a leading decentralized ecosystem for the creation of decentralized applications (dApps), has introduced the opBNB testnet. The testnet is built on Optimism’s OP Stack, a layer-2 scaling solution for Ethereum, and is designed to address network congestion and high fees on BNB Chain. The opBNB testnet is expected to achieve speeds of 4,000 transactions per second (tps) at a cost of 0.005 U.S. cents per transaction. This is significantly faster and cheaper than BNB Chain’s mainnet, which currently averages around 1,500 tps and costs around $0.05 per transaction. The opBNB testnet is a significant development for BNB Chain,

Binance exchange
10 months ago 2 mins read

Binance Coin Whale Awakens After 2 Years of Dormancy, Liquidates $2.3 Million in $BNB

A major holder of Binance’s native token, BNB, has emerged after a two-year dormancy, recently selling a portion of its holdings on the market. This strategic move has resulted in substantial profits and has caught the attention of the crypto community, indicating a noteworthy shift in the behavior of crypto whales. As Binance, the leading cryptocurrency exchange, faces a lawsuit from the Securities and Exchange Commission (SEC), this article explores the implications of the whale’s actions and the ongoing legal battle. After two years of remaining dormant, a significant holder of Binance’s BNB token has returned to the crypto scene.

Crypto Prices Plunge, Suffering Losses of 25% or More
10 months ago 1 min read

Crypto Prices Experienced Significant Drops of 25% or More Yesterday

The cryptocurrency market experienced a significant crash yesterday morning, with many altcoins losing significant value. Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, also experienced losses, but to a lesser extent. The crash was likely triggered by a combination of factors, including the recent lawsuits filed by the Securities and Exchange Commission (SEC) against major crypto exchanges, Coinbase and Binance. The SEC has alleged that these exchanges violated securities laws by selling unregistered securities. The SEC’s lawsuits have heightened regulatory uncertainty in the crypto market, leading to increased selling pressure. This selling pressure was likely exacerbated by the

Binance exchange has now announced the immediate suspension of USD deposits.
11 months ago 1 min read

Binance US Forced to Stop USD Transfers Amid SEC Investigation

The recent developments surrounding Binance US continue to bring bad news for the cryptocurrency exchange. Following the US Securities and Exchange Commission’s (SEC) lawsuit against Binance’s US arm, the exchange has now announced the immediate suspension of USD deposits. Additionally, Binance US customers have been notified that banking partners are preparing to suspend fiat (USD) withdrawal services as early as June 13. These measures are a direct result of the SEC’s aggressive tactics, which have put pressure on the exchange’s banking partners. This article explores the implications of these actions and their impact on Binance US users. Binance US has