Tag: Binance

Binance Labs launches ColLabs for founders and builders

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance Labs is launching a new platform called ColLabs, targeting web3 founders, builders, and investors. ColLabs aims to streamline venture capital operations, knowledge sharing, and professional networking. It extends Binance Labs’ ongoing incubation and guidance efforts, targeting the mentoring and funding needs of the web3 sector with unique resources like customized learning content and event access. However, there have been question about it accessibility due to the exclusivity of these resources. We’re thrilled to announce ColLabs…

SEC Files ‘Secret’ Sealed Motion in Court Battle Against Top Crypto Exchange Binance

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The U.S. Securities and Exchange Commission (SEC) is seeking the court’s approval to submit confidential documents related to the regulator’s lawsuit against the crypto exchange Binance. On Monday, the SEC filed a sealed motion for leave to file documents under seal. If granted, the agency will be allowed to file sensitive or confidential information with the court that will be kept off the public record. John Reed Stark, former chief of the SEC’s Office of Internet Enforcement, says filing court documents under seal is a rare move by the SEC…

Binance reportedly loses APAC region head amid regulatory issues

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied One of Binance’s top executives is reportedly exiting the company following several senior executive departures in recent months.  Binance Asia-Pacific (APAC) chief Leon Foong is resigning from the firm, Bloomberg reported on Aug. 31, citing people familiar with the matter.  While the report does not state the reason for Foong’s exit, the executive has become the latest senior employee to leave the crypto exchange. Binance has also seen the departure of several top executives, including general…

Court Says Yes To Binance Request In Case Against SEC

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In a new development in the ongoing case between crypto exchange Binance.US and the Security and Exchange Commission (SEC), the Court has approved Binance’s request for a new attorney. Following approval from Judge Amy Jackson, attorney Andrew Rhys Davies can now appear in court for Binance.US. Approval From US Judge According to a previous filing, attorney Andrew Rhys Davies had initially filed to represent Binance pro hac vice in the lawsuit. However, the federal judge had asked Davies to file a notice of appearance.  In the latest filing details on…

Binance Phasing Out Support for BUSD Stablecoin by Q1 2024

Binance will delist BUSD as a loanable asset on September 6 and will suspend withdrawals of Binance-pegged BUSD tokens via BNB Chain, Avalanche, Polygon, and Tron on September 7. Renowned crypto exchange Binance has officially announced its decision to discontinue support for its native stablecoin, Binance USD (BUSD), by February 2024. Paxos’ Role in Binance’s Decision The decision to phase out BUSD support is closely tied to developments involving Paxos, the company responsible for minting new BUSD tokens. Binance disclosed that Paxos has decided to halt the minting of new…

Binance to halt BUSD support due to legal issues

On Aug. 30, Binance informed users via its in-app notification about its intended discontinuation of the BUSD stablecoin support in early 2024. Binance intends to cease support for the BUSD stablecoin. The move indicates a shift in Binance’s operations amidst ongoing legal battles. As Paxos has halted minting of new BUSD, #Binance will now gradually remove support for the stablecoin on our platform. BUSD will always remain backed 1:1 by USD, and we continue to support a wide range of other stablecoins. Find more details below. — Binance (@binance) August…

Binance pushes new stablecoin as it confirms plan to cease BUSD support

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Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD.  In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos’ plans to end BUSD redemption at that time.  The official statement is the first time Binance has addressed the subject after several users shared screenshots of a pop-up on their mobile…

Binance To Delist Eight BUSD Trading Pairs Soon, End Full BUSD Support By 2024

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The world’s largest exchange, Binance, has announced plans to delist eight Binance USD (BUSD) trading pairs as the company looks to withdraw full support of the stablecoin by 2024. This follows increased regulatory pressure on the stablecoin in 2023, which has led to a drastic decline in its market share so far.  Binance To Delete Nine Margin Trading Pairs By September 7 In a blog post on Wednesday, Binance laid out intentions to delist eight BUSD cross margin and isolated trading pairs. These include AMB/BUSD, DASH/BUSD, FIDA/BUSD, HARD/BUSD, HOT/BUSD, NULS/BUSD,…