BNB - Optimisus

BNB Chain has introduced the opBNB testnet on Optimism's OP Stack

3 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,

4 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

4 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.

4 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

Court documents says the SEC claims that billions of dollars of customer funds were received by Zhao and Chen through their holding company.

4 months ago 2 mins read

Binance Accused by SEC of Redirecting $12B to Companies Owned by CEO Changpeng Zhao

Binance, one of the world’s largest cryptocurrency exchanges, and its CEO Changpeng ‘CZ’ Zhao, along with Guangying ‘Helina’ Chen, are facing serious allegations by the Securities and Exchange Commission (SEC). According to court documents, the SEC claims that billions of dollars of customer funds were received by Zhao and Chen through their holding company. The regulatory body has presented evidence suggesting that the funds were funneled through an intermediary holding company called Key Vision Development Limited. Details of the Allegations: Testimony provided by Sachin Verma, an accountant employed by the SEC, forms a crucial part of the regulator’s case. The

PepeCoin (PEPE), a popular frog-themed meme coin, led the market's daily decline with a substantial 14.9% drop since Monday.

4 months ago 1 min read

PEPE Loses 10% Amid SEC Crackdown on Binance

The crypto market faced a sharp decline, with a 3.6% drop in total market capitalization, following the announcement of a new lawsuit by the United States Securities and Exchange Commission (SEC) against Binance, a prominent cryptocurrency exchange. In the lawsuit, the SEC alleges that Binance and its CEO, Changpeng Zhao, failed to comply with regulations by allowing U.S. users to access Binance.com, engaging in unregistered crypto offerings and sales, and operating as an unregistered exchange, broker, and clearing house. The SEC’s Director of Enforcement, Gurbir S. Grewal, emphasized that the alleged actions put customers and investors at risk while prioritizing

Binance Says It Never Operated as Unregistered Exchange

4 months ago 2 mins read

Binance Fights Back Against SEC Lawsuit

Crypto exchange Binance has expressed its disappointment with the recent allegations made by the US Securities and Exchange Commission (SEC) regarding fund mishandling, unregistered exchange operations, and the sale of unregistered securities. In response to the SEC’s lawsuit, Binance, CEO Changpeng Zhao, Binance.US, and BAM Trading issued statements denying the allegations and criticizing the SEC’s approach to regulation. Binance’s Disheartenment and Unilateral Action: Binance stated that it had engaged in extensive discussions with the SEC in an effort to reach a negotiated settlement and resolve the investigations. However, the SEC chose to act unilaterally and initiate litigation instead of pursuing

Binance Faces $231M Net Outflows as Users Fear SEC Action

4 months ago 2 mins read

Binance Users Rush to Withdraw $231M Funds Amid SEC Charges

In response to the recent lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its CEO, Changpeng “CZ” Zhao, cryptocurrency traders have been withdrawing funds from the exchange. Blockchain data reveals a significant net outflow of funds from Binance, indicating a shift in investor sentiment. This article explores the withdrawal trend and highlights key details from the SEC lawsuit. Net Outflows from Binance: Blockchain data analysis from Nansen, a blockchain intelligence platform, indicates that Binance experienced approximately $231 million in net outflows over the past hour. During this period, traders withdrew around $322 million in digital

Binance is planning to lay off 20% of its workforce in June

4 months ago 1 min read

Binance to Lay Off 20% of Workforce This Month Amid Regulatory Scrutiny

Binance, the world’s largest cryptocurrency exchange, is planning to lay off 20% of its workforce in June. The layoffs come amid growing regulatory pressure on the cryptocurrency industry. Binance CEO Changpeng Zhao said that the layoffs are necessary to “focus on talent density.” He said that the company is “overstaffed” in some areas and that the layoffs will help to “ensure that we are best positioned for long-term growth.” The layoffs come at a time when Binance is facing increasing regulatory scrutiny. The company has been banned from operating in several countries, including the United States and the United Kingdom.