Tag: Binance

Binance announces the removal of 57 spot trading bots

Starting Sept. 29, Binance will remove Spot Trading Bots services from trading pairs including AAVE/BNB and ZIL/BNB. The announcement comes amid reports of decreasing Binance trading volumes, likened to regulatory challenges and end of zero-fee commissions. 57 down and potentially more to follow The Spot Trading bot services that were removed are listed on the Binance website. The reason for these mass removals, according to Binance, is a “service alteration to improve the user’s trading experience.” Binance first announced the removals in a Sept. 21 tweet. A follow-up tweet from…

Binance and Changpeng Zhao ask court to dismiss SEC suit

Binance, the crypto exchange, and its CEO, Changpeng Zhao have filed a joint motion to dismiss the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). SEC exceeded its powers On Sep. 21, the U.S. District Court received a statement from Zhao and Binance Holdings, arguing that the SEC exceeded its authority. In a 60-page petition, lawyers accused the regulator of failing to provide clear instructions on regulating the industry, leading to the retroactive imposition its authority on the sector. “The SEC pursues these novel theories retroactively, seeking to…

Binance and CEO Chanpgeng Zhao asks court to dismiss SEC suit

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Binance CEO Changpeng “CZ” Zhao and his cryptocurrency exchange has filed a joint motion requesting the dismissal of the United States Securities and Exchange Commission (SEC) lawsuit against them.  According to a Sept. 21 filing to the United States District Court, both Binance Holdings and Zhao claimed that the financial regulatory had overstepped its authority in the lawsuit against them.  In the 60-page petition lawyers for Binance and Zhao accused the SEC of failing to introduce clear guidelines for the sector ahead of its lawsuit against the crypto exchange and as a result,…

Ethereum Whales Unfazed By Prices, Pulls $8.1 Million Of ETH From Binance And Buys NFTs

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Ethereum is under pressure and has just dropped below $1,600. However, on-chain data shows that a crypto whale, “0xb154”, has moved more coins from Binance, a cryptocurrency exchange, to a non-custodial wallet. On September 21, the ETH whale transferred over $8.1 million of the coin.  ETH whale moves funds to Binance| Source: Scopescan Whale Moves More Ethereum From Binance, Buying NFTs When crypto prices contract, outflows from non-custodial wallets to centralized ramps, including Binance and Coinbase, tend to rise. This is because centralized exchanges supporting stablecoins or fiat, including the Euro…

Binance, U.S. Affiliate, Changpeng ‘CZ’ Zhao File to Dismiss SEC Lawsuit

“Indeed, since 2019, Congress has considered more than a dozen proposals that would provide a coherent and workable framework for crypto assets and their trading platforms,” the filing said. “Critically, none of those proposals would confer sole regulatory jurisdiction over the crypto industry to the SEC. Despite this, the SEC now seeks to expand its authority and filed this lawsuit, asserting claims against Binance Holdings Limited (‘BHL’) and Changpeng Zhao, among others.” Source

This Binance Wallet Triggered A Temporary 30X Surge In Ethereum Gas Fees

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A cryptocurrency wallet associated with the prominent trading platform, Binance, has seen massive activity in the last 24 hours, leading to abnormally high transaction fees on the Ethereum network. Binance Wallet Incurs Nearly $850,000 Gas Fees In One Day A crypto wallet labeled “Binance 14” witnessed a significant transaction surge on September 21, rising above 140,000. As a result of this activity surge, transactions of the Binance-owned wallet consistently incurred gas fees of over 300 gwei, even though the network’s average fee was around 10 gwei. This gas fee jump…

Binance executive flags potential EU stablecoin removal amid MiCA uncertainty

Ahead of the forthcoming enforcement of the European Union’s Markets in Crypto Assets (MiCA) legislation, a top Binance representative is sounding the alarm about potential large-scale removals of stablecoins from the exchange. As legal experts wrestle with interpreting the EU’s pivotal crypto regulation, concerns are growing about its effect on decentralized and international token issuers. Despite MiCA’s status as a groundbreaking legislation in cryptocurrency governance, slated to come into full force next year, its guidelines on various types of crypto assets remain under scrutiny. The European Banking Authority (EBA) has…

Binance & Deribit Traders Aggressively Short Bitcoin, Squeeze Incoming?

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Data shows Bitcoin shorts have been piling up on cryptocurrency exchanges Binance and Deribit during the past few days. Bitcoin Funding Rates On Binance & Deribit Are Deep Red Right Now According to data from the analytics firm Santiment, traders on the derivative market have continued to bet against the cryptocurrency recently. The relevant indicator here is the “funding rate,” which keeps track of the periodic fee that derivative contract holders on an exchange are paying each other right now. When this metric has a positive value, it means that…

EU’s MiCA Could Lead to Multiple Stablecoin Delisting, Binance Warns

“A lot of the stablecoin issuers will be, or will purport to be, completely decentralized, therefore without any point of decision or issuance” and hence unable to meet MiCA strictures, Thomas Vogel, a partner at law firm Latham & Watkins, said. “This has become a sort of threshold question for a lot of the people we talk to, and as far as I can tell there is not much guidance.” Original Source BinanceDelistingEUsLeadMiCAMultipleStablecoinWarns CryptoX Portal