Europe stands out as the global leader, accounting for 37.32% of the total transactional value, according to a comprehensive analysis by Coinwire. Asia’s trading volumes primarily result from factors like high mobile penetration, a robust tech infrastructure, and growing institutional interest. Binance, with a trading volume of $2.77 trillion, holds the title of the “most […] Source CryptoX Portal
Binance has received court approval allowing it to invest customer fiat funds into US Treasury Bills (T-Bills) after a year of heightened scrutiny of Binance’s operations in the United States. The decision has resulted in a notable price recovery for the exchange’s native token, Binance Coin (BNB), pushing it toward the $600 level. Court Grants Relief To Binance BAM Subsidiary A court filing reveals that BAM Trading Services and BAM Management US Holdings, collectively known as BAM, filed a motion seeking relief from a consent order. The court, upon consideration…
The SEC alleged that Binance in particular listed 10 tokens that it viewed as securities, as examples of how the exchange was violating federal securities laws by being a broker, dealer and clearinghouse: SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI. In its motion to dismiss, Binance argued that the SEC couldn’t plausibly allege that they were securities, saying they didn’t meet the tenets of the Howey Test. Source
Analysts at Binance Research say they remain “optimistic” about the market’s outlook, expecting upcoming catalysts to position the market “positively for the rest of the year.” The crypto industry may have already seen the worst of this year, according to Binance Research analysts, who said in a Friday report the “incremental negative impact” might be limited as Bitcoin (BTC) regained its positions lost during the harsh June. The analysts admitted that it has become “increasingly difficult to make profits in the current market environment,” referring to negative returns from newly…
On July 16, a Nigerian court issued an arrest warrant for a prison doctor who failed to provide jailed Binance executive Tigran Gambaryan’s medical report as demanded. The court also ordered prison officials to take Gambaryan to a local hospital for 24 hours of medical care. Prison Doctor Fails to Appear in Court A Nigerian […] Source CryptoX Portal
Gambaryan’s health has steadily deteriorated since he was detained in Nigeria in February. At first, Gambaryan was placed under home detention but was later transferred to the notoriously dangerous Kuje prison – which holds violent criminals including members of the Boko Haram terrorist group – after his colleague and fellow detainee, British-Kenyan citizen Nadeem Anjarwalla, escaped. Source
Exchanges offer their biggest customers discounted trading fees, treating them like VIPs to boost the odds they’ll stick around. Prime brokerages – firms that provide trading services for professional, and often large, investors – could, in theory, funnel several customers’ trading through a single account at an exchange, qualifying for those lower fees. Source
Nigerian Justice Emeka Nwite recently set October 11 as the date for ruling in the trial of Binance Holdings Limited, a popular cryptocurrency platform. The platform and its two directors face a four-count tax evasion charge for failing to register with the Federal Inland Revenue Service (FIRS). Binance’s lawyer Ayodele Omotilewa pleaded not guilty to […] Source CryptoX Portal
U.S. lawmakers have submitted a resolution calling on the Nigerian government to immediately release the jailed Binance executive, Tigran Gambaryan. In the resolution submitted to the Committee on Foreign Affairs, the lawmakers urge the United States government to utilize all available resources to secure Gambaryan’s release. The resolution also asks the Biden administration to formally […] Source CryptoX Portal
Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the controlling stake. The exchange needs to offload the stake well before the August 11 deadline for reporting […] Source