Binance to Launch Fiat-to-Crypto OTC for Chinese Yuan in October

Cryptocurrency giant Binance plans to roll out its over-the-counter (OTC) trading platform for Chinese yuan in October. Chinese market targets Yi He, Binance co-founder and chief marketing officer (CMO) announced the news at a media session on Sept. 17, as Binance confirmed to Cointelegraph on Sept. 19. According to the CMO, Binance’s new OTC onramp is scheduled to launch next month and only targets Chinese market as the current plan envisions supporting the Chinese renminbi only, a Binance spokesperson said. To date, Binance has already set up an OTC trading…

Binance Invests in Chinese Crypto News Publication Mars Finance

One of the largest crypto exchanges in the world, Binance, made its first strategic Chinese investments since leaving China back in 2017. Binance joined the third funding round of Beijing-based Mars Finance, a local crypto and blockchain news publication. The exact amount invested wasn’t disclosed; however, Chinese media and data source Mars Finance is valued at somewhere in the vicinity of $200 million. According to Bloomberg, Mars Finance can be a potential rival to leading crypto and blockchain news outlets such as CoinDesk, CoinTelegraph and our very own AllStocks Crypto…

BUSD — Binance and Paxos Stablecoin Latest to Get US Regulator Consent

Over the course of the past few weeks, the global cryptocurrency community bore witness to two major announcements related to stablecoins — with the first being the launch of Paxos’s gold-backed Ethereum token, PAX Gold (PAXG), and the other being the release of Binance’s cryptocoin backed by the United States dollar (BUSD).  Paxos, a global digital asset trust firm, announced the launch of its PAXG token via a press release a few days back. In the document, the firm claims that its product is the world’s first crypto asset to…

Binance to Launch Lending for XMR, ZEC and DASH This Week

Binance exchange will feature three new coins within the fifth phase of its crypto lending product available for subscription starting from Sept. 20. Same interest rate for all 3 coins After initially launching its Binance Lending Service on Aug. 28, Binance will now allow users to lend assets and earn interest with three major altcoins, including privacy-focused coin Monero (XMR), Zcash (ZEC) and Dash (DASH). Fifth phase of Binance Lending Service. Source: Binance Similarly to the initial phase, lending products on the fifth phase on the platform will have a…

Binance Makes First Chinese Investment Since Leaving Country in 2017

Crypto exchange giant Binance has made its first strategic Chinese investment after leaving China amid the local crypto trading ban back in 2017. Founded in China in 2017, Binance has participated in a $200 million funding round of Beijing-based Mars Finance, a local crypto and blockchain publication, Bloomberg reported on Sept. 17. Binance invests in crypto media According to the report, investors also included Singapore-based Matrixport, recently founded by former CEO of Bitmain, and Beijing-based venture capital (VC) firm Ceyuan Ventures. Following the news, Binance CEO Changpeng Zhao tweeted to…

Binance Makes Strategic Investment Into Chinese Crypto-News Website Mars Finance

For Binance, Mars Finance is the first strategic investment in China since 2017, when Beijing banned digital coin trading and the exchange withdrew from this market. One of the world’s most popular cryptocurrency exchanges Binance has made its first strategic investment in China. The company has invested in Mars Finance, a news platform that focuses on the blockchain and cryptocurrency sector. As has been reported by Bloomberg, the investment is a part of Mars Finance’s funding round that valued the platform at about $200 million. According to the co-founder of…

Binance Makes Strategic Investment in Chinese Crypto Media Firm

Cryptocurrency exchange Binance, the world’s largest by trading volume, has made a strategic investment in Chinese media and data source Mars Finance. According to a report from Bloomberg citing a press release, the investment amount was not disclosed, but values the company at $200 million. Aside from Binance, which reportedly made its first strategic investment in China with the round, Beijing-based Mars Finance was also backed by Ceyuan Ventures and Matrixport, a financial services startup founded by co-founder of bitcoin mining firm Bitmain, Jihan Wu. The media site was founded by…

Binance Futures Platform Suffers 3% Flash Crash amid Market Maker’s Error – CCN.com

Binance CEO CZ has retracted accusations that a sudden 3% flash crash was deliberately and maliciously executed by a market maker. | Credit: Shutterstock.com Earlier today, Binance’s futures platform suffered a flash crash of nearly 3 percent in a matter of just seconds. Initially, Binance CEO Changpeng Zhou (CZ) took to Twitter to announce that the flash crash had comprised a deliberate attack executed by a market maker known to the exchange. A market maker from a smaller futures exchange tried to attack @binance futures platform. NO ONE was liquidated,…

Binance Futures Platform Suffers 3% Flash Crash amid Market Maker’s Error – CCN.com

Binance CEO CZ has retracted accusations that a sudden 3% flash crash was deliberately and maliciously executed by a market maker. | Credit: Shutterstock.com Earlier today, Binance’s futures platform suffered a flash crash of nearly 3 percent in a matter of just seconds. Initially, Binance CEO Changpeng Zhou (CZ) took to Twitter to announce that the flash crash had comprised a deliberate attack executed by a market maker known to the exchange. A market maker from a smaller futures exchange tried to attack @binance futures platform. NO ONE was liquidated,…

Binance’s Quarterly BNB Burn to Include Binance Futures Tokens

Binance exchange will include all future businesses and products into the scope of each quarterly burn of its native token Binance Coin (BNB). Decision made based on community feedback According to a blog post on Sept. 12, Binance has decided to include all its products into quarterly BNB burns in accordance with community feedback. The new BNB burning practice will include tokens from Binance Futures, the exchange’s crypto futures platform that was rolled out in beta mode on Sept. 2, featuring a 10,000 BNB trading contest. Earlier today, Binance announced…