BNB

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

November 21, 2023 1 min read

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

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

June 19, 2023 1 min read

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

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

June 14, 2023 2 mins read

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

Crypto Prices Experienced Significant Drops of 25% or More Yesterday

June 11, 2023 1 min read

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

Binance US Forced to Stop USD Transfers Amid SEC Investigation

June 9, 2023 1 min read

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

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

June 8, 2023 2 mins read

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

PEPE Loses 10% Amid SEC Crackdown on Binance

June 6, 2023 1 min read

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

Binance Fights Back Against SEC Lawsuit

June 5, 2023 2 mins read

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

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

June 5, 2023 2 mins read

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

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

June 1, 2023 1 min read

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