Binance Removes FTX Tokens Citing Confusion

Major crypto exchange, Binance, has decided to remove leveraged FTX tokens from its exchange, explaining that customers don’t understand the product. “Due to lack of understanding of how leveraged tokens work by many of our users, Binance has decided to delist all existing FTX leveraged tokens and corresponding trading pairs,” the exchange announced on March 28.  Binance will shut off deposits and withdrawals for the assets on March 31 at 8 a.m. UTC, with a stoppage in trading at 10 a.m. on the same day.   Binance only recently listed the…

Binance Academy Establishes Physical Presence in Shanghai

Binance Academy has entered into an agreement with Shanghai’s local government to set up an office in the country. The initiative will reportedly be devoted to research blockchain technology in accordance with an Oct. 24 statement from Xi Jinping promoting its use. As announced on March 27 by local news outlet TheBlockBeats and Binance’s CEO Changpeng Zhao, Binance Academy will establish the Lingang Blockchain Technology and Industry Research Institute in Shanghai’s Lingang special economic zone. The initiative is the result of cooperation with local organizations in the Lingang area, and…

Singapore Grants Crypto License Exemptions to Ripple, Coinbase and Binance

While Singapore recently adopted specific cryptocurrency legislation — the Payment Services Act (PSA) — in January 2020, it turns out that some crypto firms like Ripple, Coinbase and Binance have been exempt from the law since the beginning of the year. The Monetary Authority of Singapore (MAS), the country’s central bank and major financial regulatory authority, exempted a number of major payment services from holding a financial license under the PSA. According to a statement released on March 24, the listed companies are allowed to continue to provide specific payment…

Why the Binance Crypto Card is Bullish for Bitcoin (BTC) and BNB

In brief: Binance has announced the launch of the Binance Card that allows users to shop and pay with crypto anywhere VISA is accepted. Binance Card will initially be a virtual card in a Beta version of the new service.  Users can only top up using Bitcoin (BTC) and Binance Coin (BNB).  The team at Binance has continually focused on building ever since the exchange was launched. Crypto adoption just got the biggest boost this year as the popular crypto exchange of Binance has just announced the launch of a…

Binance Releases Its Own Debit Card, Initial Testing Will Be in Malaysia

Binance enters the crypto debit card sector with news of an official Binance Card on March 26. Issued by Visa, the card will initially be available in South East Asia, though other regions will be unlocked soon, the company states. Like most other crypto cards, the Binance Card allows its users to spend their cryptocurrencies by converting them into fiat and piggy-backing off established debit card networks. A fairly unique aspect of the Binance Card is that its internal balance will be in cryptocurrencies, initially Binance Coin (BNB) and Bitcoin…

Binance Reveals the Secret Behind Its Cryptocurrency Futures Success

Aaron Gong, vice president of futures at major cryptocurrency exchange Binance, explained to Cointelegraph how the firm managed to become one of the top crypto futures trading platforms. As Cointelegraph reported earlier this week, Binance recently overtook BitMEX and became the second-largest platform in terms of 24-hour Bitcoin (BTC) futures trading volume. When asked whether he is surprised by such success, Gong said that the firm created the product with the plan of becoming the top Bitcoin futures trading platform: “We knew we would be there soon, and we made…

As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap

After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount. As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible. Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”. Will a devaluing U.S. Dollar push…

Binance Holds $1B in ERC-20 Stablecoins

Binance has more than $1 billion in ERC-20-based stablecoins as of March 24. This figure surpasses a milestone that quite far ahead of second-place Huobi. Binance holds $1,007,585,549 of these stablecoins as of press time, a balance that has grown some $105,583,132 over the past seven days, according to the global stablecoin exchange balance by Nansen. Huobi’s balance is slightly more than half that sum: $694,327,505. That figure represents a growth of $165,823,720 in the same seven days as Binance. These companies are distinctly leading the pack in stablecoin balance.…

Your Favorite Privacy-Minded Browser Is Teaming Up With Binance

Brave has partnered with Binance to bring in-browser crypto trading to its 13 million users. The Binance Widget allows Brave users to make crypto trades without leaving the browser. Branden Eich, CEO of Brave Software explained the rationale behind this partnership in an interview with Cointelegraph: “Our focus has always been on our users. This time, it’s about making crypto more usable by more people. We already have 1.6 million users who are crypto-savvy, they have signed up for the BAT Rewards Program; now they’ll be able to make crypto…

BitMEX Slips Behind Binance and OKEx for Bitcoin Futures Trading Volumes

Bitcoin (BTC) derivatives exchange BitMEX has fallen to third place in 24-hour trading volume for Bitcoin futures.  Data from Skew analytics on March 23 reveals that the derivatives giant, founded by Arthur Hayes, is reporting $2.45 billion in 24-hour futures volume, as against Binance’s $2.48 billion and OKex’s $3.08 over the same time frame. 24-hour trading volumes for Bitcoin futures contracts on major exchanges. Source: skew.com Mid-term trends Earlier this month, aggregated open interest in BitMEX’s futures contract took a steep plunge from $1.2 billion on March 12 to $745…