Tag: Binance

Coinbase (COIN) Stock Soars to 18-Month High as Investors Crypto Interest Grows despite Binance Legal Issues

COIN is presently trading at $119 after closing at $115 on November 27, which is the highest close since May 2022. The price now has minimal resistance ahead as it is moving toward $130, the May 2022 high. Major cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) has seen its stock price climb over 250% so far this year. This brings the company close to its valuation from before the massive crypto crash of 2022. Last year’s cryptocurrency decline started with the implosion of TerraUSD, a so-called “stablecoin” whose value was…

Coinbase shares hit 18-month high after Binance charges

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Crypto exchange Coinbase (COIN) shares have hit an 18-month high after rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and sanctions violations in the United States. On Nov. 27, Coinbase closed at $119.77, its highest since May 5, 2022, when it closed at $114.25, according to TradingView data. It has seen little movement in after-hours trading. The number puts Coinbase shares up around 256.5% year-to-date, although is still down 65% from its Nov. 12, 2021, all-time high of nearly $343. Coinbase share price since…

Tornado Cash token falls 57% after Binance announces delisting

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The governance token for crypto mixer Tornado Cash (TORN) has fallen by over 50% on Nov. 26-27, according to data from Coingecko. The crash came on the same day that crypto exchange Binance announced it was delisting the token. Tornado Cash 24-hour chart. Source: Coingecko. Tornado Cash is a cryptocurrency mixing protocol. Its token, TORN, is used to vote on proposals for upgrading the protocol. On Nov. 26-27, the token took a nosedive, falling from $3.90 to just $1.66, a decline of 57%. The price decline happened as the world’s…

The end of an era for Binance, troubles for Kraken: Law Decoded

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Binance and CZ’s ongoing legal drama with United States law enforcement ended with a plea deal. Last week, the legal drama featuring the world’s largest crypto exchange and United States law enforcement ended with a plea deal. Binance and Changpeng “CZ” Zhao have admitted violating U.S. Anti-Money Laundering laws, agreeing to pay $4.3 billion in fines. CZ resigned as CEO of Binance as part of the deal. Binance’s former head of regional markets outside the U.S., Richard Teng, is the new CEO. Cardano founder Charles Hoskinson reflected on the plea…

Binance CEO Details Prediction, Says Crypto Exchange About To Reinvent Itself With New Corporate Structure: Report

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The new CEO of the world’s largest crypto exchange by trading volume foresees strength ahead for crypto and his company. Fortune reports that Changpeng Zhao’s successor at Binace, Richard Teng, says that Binance’s move towards compliance will pay off in the long term, positioning the company to claim a bigger share of the growing crypto market. Teng, who previously worked as Binance’s head of regional markets, was promoted to the CEO position last week after the company’s previous chief executive, Changpeng Zhao, stepped down. Says Teng, “We are starting from a…

New Binance CEO Promises Greater Transparency

The new Binance CEO has noted that Binance will begin operating a conventional corporate structure under his leadership. New Binance CEO Richard Teng has promised that the firm will maintain a greater commitment to transparency moving forward. Teng made this pledge in his first blog post to the company users. Mr Teng took over as CEO after Changpeng Zhao (CZ) pled guilty to charges of money laundering and sanctions violations. CZ was asked to step down from the company as part of a $4 billion criminal settlement with the US…

Binance CEO outlines plan for crypto exchange after CZ steps down

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Richard Teng, Binance’s former global head of regional markets and now CEO, announced his intention to drive growth at the crypto exchange following Changpeng “CZ” Zhao stepping down. In a Nov. 27 blog post, Teng said he had the support of CZ and Binance’s leadership following the former CEO’s departure as part of an agreement with United States officials. According to Teng, Binance planned to continue a user-focused approach to its business and “drive growth and the adoption of Web3,” assuring customers they would hear more from him soon. “I…

Binance Futures Unveils Its Grand Trading Tournament with $2 Million USDT in Prize

Alongside the traditional trading competition, Binance futures participants can engage in a Copy Trading Competition and a Trading Bots Competition. On Monday, September 27, Binance Futures, the leading crypto derivatives exchange globally, has unveiled the highly anticipated Binance Futures Grand Trading Tournament. Boasting the largest prize pool in the tournament’s history, participants have the chance to compete for up to $2 million in USDT. In an exciting development, this edition of the tournament introduces new competitions aligned with Binance’s recent innovations. Alongside the traditional trading competition, participants can engage in…

Web3 edu-tech startup Open Campus raises $3.15m from Binance, EDU jumps 6%

Crypto educational startup Open Campus has raised over $3 million from Binance Labs to double down on NFTs. Open Campus (EDU), a cryptocurrency-focused educational startup, has raised $3.15 million from Binance‘s venture arm Binance Labs. According to an announcement on Monday, Nov. 27, 2023, the funding is expected to help the startup onboard new users onto Web3 and “attract more native users to participate in education through the launch of novel Publisher NFTs.” After the news broke, the project’s native token jumped by more than 6%, reaching in a moment…