Binance moved BUSD from its SAFU insurance fund into USDT and TUSD since Paxos cannot mint new BUSD coins.
Binance moved BUSD from its SAFU insurance fund into USDT and TUSD since Paxos cannot mint new BUSD coins.
Summary: Paxos was ordered to stop minting Binance USD (BUSD) by the New York Department of Financial Services. The order coincided with the SEC's plans to sue Paxos for selling unregistered securities in BUSD. CEO of the crypto exchange, Changpeng Zhao, noted that his company would review other projects to protect users from "undue harm". The news came just days after the SEC...
Binance's CEO CZ issues a warning directed at Crypto Exchanges Crypto.Com and Gate.IO, "Stay Away, Stay SAFU" he says. The warning comes after the recent SBF FTX and Alameda collapse, which has shaken the crypto industry. Crypto.com's CEO confirms that the exchange of funds, approx $400M was an accident that was later rectified. The price of Crypto.com's $CRO token has dropped 17.9% in...
Binance CEO Changpeng Zhao took to Twitter earlier today to announce that his exchange will be getting rid of its FTX Token (FTT) holdings. The announcement comes after days of speculation and FUD about FTT. As for the timeline of this sale, CZ stated that it will be spread out over a period of several months in order to limit the impact on...
Summary: On 5 November, BNB clinched a new all-time high in its social contributors, social mentions, and social engagements. The rally in social activity is connected to its price rally in the last month. While the price might be up now, there are signs that a price reversal might be underway. During the intraday trading session on 5 November, Binance Coin [BNB] reached...
Armed with a $1 billion war chest, Binance's Changpeng Zhao has indicated that the exchange is looking to acquire a bank.
The BNB chain will undergo a temporary patch update in the form of a hard fork on October 12. The hard fork has been described as a temporary fix for its recent $100 million exploit. The Binance smart chain is gearing up to execute a new hard fork dubbed Moran as a temporary patch fix for its $100 million exploit. BNB Chain Set...
Summary: CZ has defended his earlier tweet announcing a possible exploit on Unsiwap V3 that was later confirmed as being a false positive. According to CZ, he would rather be wrong than risk people losing money. He added that 'speed is of the essence when dealing with security issues.' The alleged Uniswap V3 exploit has been confirmed as a Phishing Attack. Binance CEO,...
Summary: Binance.US has hired former Acorns COO and Paypal CFO Jasmine Lee as its new Chief Financial Officer. Binance.US CEO highlighted that the move would complement the crypto exchange's plans for an IPO down the line, possibly from 2024 to 2025. Ms. Lee's experience as a COO will be pivotal in the process leading up to a Binance.US IPO. Binance.US has announced that...
Summary: Binance has announced the launch of zero-fee Bitcoin for 13 spot trading pairs beginning July 8th until further notice. The discounted trading is part of the exchange's fifth-anniversary celebrations. The 13 Bitcoin pairs are mostly against fiat and stablecoins on the exchange. Binance US also announced zero-fee Bitcoin trading last month. The team at Binance has announced the launch of zero-free Bitcoin...
Summary: Binance has stepped up the verification of users that have been potentially affected by the latest data breach. A hacker claims to have obtained the personal data of over 1 billion Chinese residents from the Shanghai police. The anonymous attacker seeks 10 Bitcoin on the dark web for 23 terabytes of data. The crypto exchange of Binance has stepped up its verification...
Summary: CZ has clarified that Binance is looking at 50 to 100 deal proposals from crypto projects affected by the ongoing crypto winter. CZ was correcting reports by the Block that had misquoted him as saying that Binance was looking at 5,200 deals. The founder and CEO of Binance, CZ, has clarified via Twitter that the exchange was looking at 50 to 100...
Summary: Binance CEO, CZ, has pointed out that Elon Musk being sued does not necessarily mean he is guilty. CZ was responding to an article by the team at CoinMarketcap on the ongoing $258 billion lawsuit against Elon Musk, Tesla, and SpaceX for playing a role in running a 'Dogecoin pyramid scheme.' In an interview with Fortune magazine, CZ cautioned that the ongoing...
Summary: Binance CEO, CZ, has said that the exchange has a healthy war chest to get through the ongoing crypto winter. CZ also reiterated that Binance is hiring right now. He also pointed out that Binance is frugal, avoiding expensive spending like Super Bowl advertisements. Binance CEO, CZ, has stated that the exchange has a healthy financial war chest to assist the crypto...
Summary: Binance has temporarily paused Bitcoin withdrawals on the exchange due to stuck transactions causing a backlog. The team is currently working on a solution, and further explains that the backlog is being caused by a batch of Bitcoin transactions with low transaction fees. Bitcoin withdrawals on other networks (BEP20 and ERC20) through wrapped tokens are open and working as normal. The crypto...
Key takeaways: Binance has stopped deposits and withdrawals of EGLD to investigate what it calls a potential security issue on the Elrond Network. Yesterday, a hack was reported on the Elrond Network resulting in the loss of $1.65 million worth of EGLD that was later sold on the Maiar Decentralized exchange, causing a 92% price drop on the DEX. The Founder and CEO...
Key takeaways: Binance Coin's (BNB) price has been affected by news of the SEC investigating the exchange on its 2017 ICO. Binance Coin has since lost its $300 support level and could retest its $218 low set during the crypto sell- off catalyzed by UST's depegging event. The investigations by the SEC aim to figure out if Binance broke Securities laws by selling its...
Key takeaways: Binance has released over 50 pages of email records between its cyber security team and Reuters journalists investigating the exchange for being a hub for laundering ill-gotten crypto. CZ has requested the crypto community to seek the truth about the saga with Reuters. Binance has reiterated that crypto is more transparent than the traditional cash economy. CZ and the team at...
Summary: Binance is reportedly looking to fill 500 job vacancies across the world. This is despite the crypto winter activity of other exchanges laying off employees (Gemini) and rescinding offers (Coinbase). CoinGecko Co-founder has questioned the handling of financials by the crypto exchanges carrying out layoffs and rescinding offers. The crypto exchange of Binance is looking to fill over 500 job positions globally....
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