Tag: Binance

Binance Settlement With U.S. Department of Justice Could Put an End to (BNB) Death-Spiral Fears

Rajeev Bamra, head of DeFi and digital-assets strategy at Moody’s Investors Service, praised Teng’s extensive regulatory background and experience, in an emailed statement from the credit-rating firm. Teng’s stepping in as the new leader of the exchange could provide an opportunity to move beyond regulatory concerns and “chart a path towards stability and a fresh beginning,” according to Bamra. Source

Bitcoin (BTC) Price and Crypto Prices Turn Higher After Binance and CZ Deals

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Stepping away from the headlines, a number of observers have noted that the Binance settlement in essence may have cleared the decks for the U.S. Securities and Exchange Commission (SEC) to finally approve a spot bitcoin ETF. The neutering of Binance and exit of CZ, they said, might have eased the agency’s concerns regarding overseas manipulation of bitcoin prices. Original

Binance CEO CZ’s downfall is ‘the end of an era’ — Charles Hoskinson

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In a Nov. 22 YouTube video, Cardano founder Charles Hoskinson reflected on the news that Binance CEO Changpeng “CZ” Zhao had stepped down from the exchange. Hoskinson claimed that the event represented “the end of an era.” He argued that entrepreneurs will need to comply with regulations or else develop completely permissionless protocols that can’t be regulated. The End of an Era https://t.co/d3AcHWu66C — Charles Hoskinson (@IOHK_Charles) November 22, 2023 In the video, Hoskinson claimed that CZ was “part of a class of entrepreneurs in the cryptocurrency space who really…

Binance New CEO Affirms Strength In Company’s Fundamentals

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The world’s leading cryptocurrency exchange Binance new Chief Executive Officer (CEO) and former global head of regional markets Richard Teng has recently expressed his confidence in the crypto company’s fundamentals. Binance Fundamentals Shows Strength Amid Challenges, New CEO Earlier today, the new Binance CEO confidently revealed the fundamental strength of the crypto company despite recent challenges. The CEO took to his official X (formerly Twitter) handle to share his belief in the company. According to Teng, the fundamentals of the company’s business are still solid.  Related Reading: Bitcoin Price Plunge…

Panic At Binance Following CZ’s Departure? Analyzing 24-Hour Inflow and Outflow Trends

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A new era for the crypto industry approaches as the world’s largest exchange, Binance, changes leadership. Yesterday, the company’s founder and CEO, Changpeng “CZ” Zhao, stepped down as part of an agreement with the US government. The deal might have sparked a new era of adoption and legitimacy for the nascent industry at the cost of CZ’s position and a $4 billion fine. Fresh data looked into Binance’s transactions to check if users believe in the company’s future following the historic decision. BNB’s price trends to the downside on the…

Ripple making connections amid Binance turmoil

The crypto analyst behind the JWK Show YouTube channel posted a video on Nov. 22nd highlighting recent allegations against crypto exchange Binance. He speculated that this could trigger a “bank run” and collapse similar to FTX. The host pointed to institutions capitalizing on the opportunity, highlighting a recent tweet from Grayscale touting its Grayscale Ethereum Trust as the world’s largest Ethereum (ETH) investment vehicle: We have Grayscale coming in, Wall Street never loses. In addition, JWK also found links between Binance and Ripple, the firm behind the XRP token. He…

BTC price bounces 3% post Binance amid call for Bitcoin bulls to ‘step in’

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Bitcoin (BTC) traded $1,000 off weekly lows after the Nov. 22 Wall Street open as a BTC price relief bounce held firm. BTC/USD 1-hour chart. Source: TradingView Bitcoin respects “very clear” key levels Data from Cointelegraph Markets Pro and TradingView followed crypto markets as they recovered from snap downside the day prior. As the dust continued to settle on news that largest global exchange Binance would be fined $4.3 billion by United States lawmakers, Bitcoin traders eyed the latest important price levels. Daan Crypto Trades showed BTC/USD respecting a trading…

Binance Unveils Winning Design of Pierre Gasly’s Helmet for Abu Dhabi Grand Prix

Along with its collaborative commitment to encouraging creativity and engaging fans, Binance, in partnership with Gasly, offered users and fans the exclusive Pierre Gasly Experience. Binance, the leading global blockchain ecosystem announced the triumphant design for the helmet of BWT Alpine F1 Team driver Pierre Gasly at the upcoming Abu Dhabi Grand Prix on November 26, 2023. The design competition, open to Binance users and F1 enthusiasts worldwide, encouraged participants to showcase their creativity by submitting helmet designs between August 23 and September 8, 2023. The judging panel, consisting of…

Binance, Binance, Binance

Following the news, Binance saw over $950 million in net outflows over the past 24 hours. “There are constant hourly net outflows of bitcoin and stablecoins after the CZ’s resignation announcement,” Hochan Chung, head of marketing at CryptoQuant, told CoinDesk. “However, compared to the total reserves of Binance, the current volume is not yet significant at all.” Binance is set to continue operating as usual and make a “complete exit” from the U.S market. The withdrawals are above average, but not unusually large on a weekly basis, an analysis of…

Binance to Maintain Global Dominance after Settlement with US Authorities 

Bernstein analysts are not the only experts who believe Binance will remain the world’s leading crypto exchange despite the recent settlement with the US authorities. In the aftermath of Binance’s recent settlement with the United States government, industry analysts at Bernstein are confident the company will continue to maintain its position as the leading global cryptocurrency exchange in the industry. According to a research report by Bernstein, despite facing minor outflows of less than $1 billion, Binance demonstrated resilience, with customers exhibiting minimal panic. Binance Shows Resilience in the Face…