Tag: Binance

Kevin O’Leary Says New Crypto Exchange Will Compete With Binance, Become the Largest Ever To Be Regulated

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Shark Tank star Kevin O’Leary says a new crypto exchange is coming that will take business away from the industry’s leading giants. In a new interview with Fox Business, the venture capitalist says the days of the “crypto cowboy” are long gone. O’Leary says that a new firm based in Abu Dhabi called M2 will become the largest “regulated” crypto exchange in the world, backed by billions in capital with connections to large institutional players. “The age of the crypto cowboy, those days are over… We have the pending announcement,…

What Are the Tax Implications of the Alleged Binance Wallet Hack (or Any Crypto Exploit)?

According to on-chain data, the attacked wallet received $26 million from another Binance hot wallet called “Binance 16” on Nov. 5. This may speak to and against the Binance Insider theory, in that someone at Binance may be privy to know the wallet was recently topped up but also that, because Binance is a prime target for attacks, being something as a trophy for hackers, being the largest exchange and all, it’s likely the exchange’s hot wallets are monitored closely by would-be hackers. Source

Altcoin Project Skyrockets Over 200% Amid Support From Crypto Exchange Binance

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A six-month-old altcoin project is soaring after earning surprise support from crypto exchange Binance, the largest digital asset exchange in the world. After Binance announced on November 7th that it was listing ORDI for trading, the new token soared from $7.43 to a high of $23.80, a 220% increase. ORDI tokens, which adhere to the “BRC-20” token standard, are tradable coins that use the Ordinal Protocol to inscribe information into satoshis, the smallest unit of value on the Bitcoin (BTC) blockchain. The project was launched by an anonymous user in March…

Binance Blockchain Week showcases Turkish crypto industry

Binance Blockchain Week Istanbul 2023 saw global crypto exchange Binance bringing its flagship event to Turkey on Nov. 8–9, where business is conducted in the Turkish lira — a top trading pair on its platform.  While Binance CEO Changpeng “CZ” Zhao was absent from the event, the Binance c-suite, along with key executives from a full roster of event sponsors, was more than enough to turn Binance Blockchain Week into one of the most packed Web3 events Istanbul has ever seen. As a city bridging Europe to Asia, Istanbul is…

Binance Deployer-Linked Wallet Suffers $27M USDT Theft

“The user made a withdrawal from Binance, which was valid and authorized on our platform. Unfortunately, the DeFi wallet that received the withdrawal was compromised. While this is outside of our scope of control, Binance’s security team is looking into the matter and we will provide assistance where we can,” a Binance spokesperson told CoinDesk. Source

Bybit Card adds new user bonus amid Binance crypto card closure in EU

European residents can now opt for a Bybit Card for their crypto-to-fiat conversion following the launch of a new incentive scheme. The program incorporates three welcome bonuses tailored for new users signing up for a Bybit Card. This Bybit Mastercard announcement coincided with Binance discontinuing its Visa card services for EU residents within the same week. Competition for crypto debit cards is heating up  Competition among debit card issuers has a long history, extending back decades. In the crypto era, the importance of virtual and physical cards to digital asset…

Binance Freezes $11.8 Million In Stolen Assets Following Kidnapping Incident

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Chief Executive Officer of Binance, Changpeng “CZ” Zhao, has shared a report in which the exchange intervened in the theft of millions of dollars worth of crypto assets. Through a fast response operation, the Binance Global Head stated they were able to prevent the bad actors from making away with over 90% of the stolen loot. Binance Confiscates $11.8 Million In Assets Belonging To Kidnapped Clients In a Friday post on X, CZ stated that executives from one of Binance’s client companies were deceived into going on a business trip…

Badger DAO utility token surges amid Binance Futures launch

The Badger DAO utility token, BADGER, has skyrocketed in value thanks to cryptocurrency exchange Binance. Badger DAO (BADGER) is a decentralized autonomous organization (DAO) with a single purpose: to create the products and infrastructure needed to accelerate the use of Bitcoin (BTC) as collateral for other blockchains. In 24 hours, BADGER saw an impressive 20.18% increase, rising from $2.8 to $4.61 in the price range. At its peak, the token price reached $5.53. This price increase indicates positive market sentiment following Binance’s announcement. BADGER price | Source: CoinMarketCap The coin’s…

Binance to stop accepting deposits in Russian rubles

Starting Nov. 15, the Binance cryptocurrency exchange will stop accepting deposits in Russian rubles. Withdrawals will continue until Jan. 31, 2024. Users with fiat balances in Russian rubles can transfer funds to CommEX for free, according to the announcement. At the same time, on Nov. 9, CommEX itself added a channel for replenishing and withdrawing funds from the exchange wallet in rubles and opened trading in the USDT/RUB pair on the spot market. “Register for a CommEX account or log into the CommEX account, and connect it to the corresponding…

CME, Where Institutions Trade Bitcoin, Flipped Binance in Futures Volumes. Is That as Bullish as It Sounds?

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But, if you believe in efficient markets, then you’d have to think a pre-scheduled event that 99.9% of all bitcoin holders know about and eagerly await would have to be “priced in.” Then again, it’s hard to say crypto markets are efficient. And the same guys who thought up the Efficient Markets theory also said it’s impossible to find a $10 bill on the street, because, if it was there, it’d already be pocketed by someone. Yet I find (and lose) money all the time, and crypto traders sometimes make…