Tag: Binance

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

Binance Q3 report appraises crypto market as ‘challenging’ amid high interest rates

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It’s been a challenging quarter for crypto, Binance has confirmed in its Q3 market pulse report. The market was down in many sectors, the report found, although the entry of institutional players such as Deutsche Bank, Sony and PayPal helped offset some of the pain.  The global crypto market capitalization was down 8.6% quarter-on-quarter (QoQ) “with the ‘higher for longer’ interest rate rhetoric set to persist.” Fundraising was at its lowest since Q4 2020 and down 21.4% QoQ, with infrastructure doing significantly better than other sectors. Activity was down slightly…

FTX Diverted Customer Funds to Buyback Stake from Rival Company Binance

It was disclosed that FTX customers’ money was spent on business investments, political and charity donations, and real estate. Beleaguered cryptocurrency exchange FTX spent customer’s deposits for business investments, political contributions, charitable donations, real estate, and the buyback of shares from competitor exchange Binance. During a hearing on Wednesday at the ongoing Sam Bankman-Fried (SBF) trial, professor Peter Easton, an accounting officer hired by the US Department of Justice (DOJ) to investigate the company’s financial records, revealed that the exchange spent billions of dollars repurchasing its stakes from Binance. CZ…

Executive Director of Binance France Resigns amid Ongoing Regulatory Scrutiny

With Stéphanie Cabossioras’ resignation, she joins at least 10 other senior executives who have left Binance this year. Stéphanie Cabossioras has resigned from her role as executive director of Binance France, the French arm of the world’s largest cryptocurrency exchange. Her departure comes as the latest in a series of high-level exits from Binance and occurs against a backdrop of heightened regulatory pressure on the company. Cabossioras was appointed to lead Binance France in April 2022, playing a key part in the exchange’s expansion into the French market. However, her…

FTX Used Customer Funds to Buy Back Binance Stake, Accounting Prof Reveals

CryptoX – Cryptocurrency Analysis and News Portal “Oh, yes,” Easton said when asked by the court whether FTX ever spent user deposits. The professor testified these user deposits were reinvested into businesses and real estate, used to make political contributions and donated to charity, as reported. Original Source The post FTX Used Customer Funds to Buy Back Binance Stake, Accounting Prof Reveals appeared first on CryptoX. CryptoX Portal