Tag: Binance

Head of Binance payment processor resigns

Saulius Galatiltis, CEO of a Binance crypto-to-fiat payment affiliate, has stepped down in an ongoing exodus of executives from the digital asset titan. Galatiltis served as Bifinity’s chief executive from January 2022 to October 2023, per his LinkedIn profile. The Lithuania-based payment processor allowed customers to convert their fiat currencies into crypto tokens on Binance’s exchange, focusing on European users.  This is the latest departure from Binance-related entities as of Oct. 19 following a lawsuit from the U.S. Securities and Exchange Commission (SEC) alleging securities fraud. The suit indicted Binance…

Crypto Lobby Group Files Amicus Brief in SEC Lawsuit Against Binance, Likens Exchange to E-Commerce Giant Amazon

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A crypto lobbying group is petitioning the courts in favor of Binance in the exchange’s lawsuit with the U.S. Securities and Exchange Commission (SEC). In an amicus briefing filed yesterday, the Chamber of Digital Commerce told the U.S. District Court of Columbia that the US, once a haven for new tech, is pushing away crypto and blockchain technology. “Now, however, one of the newest frontiers of the digital economy—the trillion-dollar blockchain economy—is conspicuously avoiding the United States, finding the regulatory environment too opaque and too hostile to conduct business here… This promising…

Google, Amazon, Binance Labs, And A Chat With Sunny Aggarwal

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In the next three days, our team at NewsBTC will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, scalability, and global adoption by simplifying users’ access to crypto. MultiversX’s native token EGLD trends to the upside on the 1-hour chart. Source: EGLDUSDT on Tradingview Summarizing The MultiversX Event, Day 2 In the early hours, the CEO and Co-Founder of MultiversX, Beniamin Mincu, announced a partnership with big tech giant Google…

Binance shutting down European Visa debit card in December

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Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected. According to a Binance letter to customers posted online, the Binance card issuer, Finansinės paslaugos “Contis” — or Contis Financial Services — will stop issuing the card. Contis is a Lithuanian electronic money institution and currency exchange operator owned by German banking-as-a-service platform Solaris Group, which is active in 30 European countries. The Binance Visa debit card converts…

Chamber of Digital Commerce opposes SEC’s overreach in Binance lawsuit

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The Chamber of Digital Commerce has aligned with various digital assets firms, associations, legal experts and legislators in a collective effort to challenge the Binance vs. U.S. SEC lawsuit.  The blockchain trade association through the recently filed amicus brief seeks to thwart the SEC’s endeavor to oversee the cryptocurrency sector without explicit authorization from the U.S. Congress, halting the SEC’s method of regulation through enforcement actions. As stated by Cody Carbone, the Vice President of Policy at the Chamber of Digital Commerce: “The SEC continues to try to regulate the…

Binance Publishes Q3 Market Pulse Report Describing Quarter as Challenging for Crypto Market

According to the Binance report, the crypto market saw declines across the board in Q3, as fundraising and developer activities tanked. Binance has called the third quarter of 2023 “a challenging quarter” for crypto. In its Q3 “Market Pulse” report, Binance highlighted a few drawbacks the crypto industry faced, adding insights and shedding light on the general state of the industry. The report revealed declines in the industry across several points. For instance, Binance notes that the total market capitalization fell by 8.6% quarter-on-quarter (QoQ) despite a rally following Ripple…

Binance Secures New Euro Banking Partners to Resume Fiat Transactions

Binance is currently in the process of finding partners for dealing with fiat transactions in the UK, as British users are still unable to deposit GBP. Leading global cryptocurrency exchange Binance has successfully onboarded fresh fiat partners to facilitate euro transactions after halting the services earlier this year due to regulatory challenges. In an official announcement on October 19, the exchange said it had finalized agreements with new fiat partners to manage euro payments, deposits, and withdrawals. Binance Reopens Euro Deposits and Withdrawals The announcement comes after the company’s former…

Crypto exchange Binance restores euro services after new fiat partners

Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, months after losing its previous fiat partner PaySafe in September.  In an Oct. 19 statement, Binance announced that it had signed agreements with new fiat partners for euro payments, deposits, and withdrawals. The move follows regulatory and debanking woes in the European Union, where the firm was forced to look for new banking partners after it lost the support of PaySafe in September. Binance said that users have already started being migrated to the…

Crypto exchange Binance restores euro services after finding new fiat partners

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Crypto exchange Binance has announced it has onboarded new partners to handle euro deposits and withdrawals, one month after losing its previous fiat partner, PaySafe, in September.  In an Oct. 19 statement, Binance announced it had signed agreements with new fiat partners for euro payments, deposits and withdrawals. The move follows regulatory and debanking woes in the European Union, where the firm was forced to look for new banking partners after losing support from PaySafe in September. Binance said users have already started migrating to the new services provided by “a…

Crypto Exchange Binance Says It Has New Euro Fiat Partners for Deposits, Withdrawals

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The company has signed agreements with “a number of new regulated and authorized fiat partners” to provide EUR services for its users in Europe, according to a Binance blog post. Services include EUR deposits and withdrawals via the Single Euro Payments Area (SEPA) payment network, EUR spot trading pairs and buying and selling digital assets via SEPA, bank cards or fiat balances, according to the post. Source