Tag: Binance

Crypto whales shuffle millions via Binance amid regulatory scrutiny

Amid executive departures and trading suspensions, Binance faces liquidity concerns as whale activity reveals a complex pattern. Binance, the world’s leading crypto exchange, remains under scrutiny while the community maintains a cautious stance concerning its general liquidity. In the past week, several high-level executives from the exchange’s APAC and Eastern Europe divisions have resigned. Moreover, Binance has temporarily suspended trading of multiple altcoins, including the BUSD stablecoin, in response to mounting regulatory pressure. As these issues converge, whales appear to be changing tact, shuffling coins around. Data from crypto analysis…

Binance creates smart contract to refund users affected by $3M rug pull

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Crypto exchange Binance has created an automated smart contract to reimburse users following the events of the Xirtam rug pull. According to a Sept. 6 announcement, users affected by the Xirtam rug pull can receive their money by connecting their wallets to Etherscan, passing a verification check and calling the claim function through the contract address. Users must have submitted their applications by Aug. 2 to be eligible for recovery. “We have received several reports of XIRTAM incidents and are fully aware of the seriousness of the problem,” the exchange previously…

PERP Spikes 90%, Perpetual Protocol Foundation Sends Tokens To Binance: Is This Good

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PERP, the native token of Perpetual Protocol, is one of the top-performing assets, looking at price action in the past 48 hours. As of September 6, the token is changing hands at $0.78, adding roughly 90% from August 2023 highs.  Amid this stellar performance, reports reveal that the Perpetual Protocol Foundation has transferred 903,000 PERP worth approximately $691,000 to Binance, the world’s largest cryptocurrency exchange by trading volumes and client count. PERP transfers to Binance: Etherscan PERP Ripping Higher After Dumping In Q2 2023 According to Lookonchain, a blockchain analytic platform, the wallet…

Bitcoin Alternative ‘Bitcoin BSC’ Launches Presale on Binance Smart Chain With High APY Staking

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Aiming to offer a Bitcoin alternative to investors during the bear market, Bitcoin BSC token is off to an explosive start in its presale, having already raised close to $50,000 in just 24 hours.  Investors have been dissatisfied with Bitcoin’s performance in recent weeks as the largest cryptocurrency is down 11% over the past month. On the other hand, Bitcoin clones like BTC20 and BTC 2.0 have outperformed the bearish crypto market and have shown remarkable bullish strength.  Bitcoin BSC is another such token that is generating tremendous enthusiasm amongst…

Binance Russia execs leave amid ongoing rumors of market exit

Two Binance executives announced they were leaving the company amid the rumors of the major exchange possibly exiting Russia. Binance’s head of Eastern Europe and CIS, including Russia, Gleb Kostarev, announced in a Sept. 6 LinkedIn post that it was his last day at the company. “Friends, today is my last day at Binance. I am stepping down from my role as VP, Head of Eastern Europe, CIS, Turkey, and ANZ (a few months ago, I also stopped covering APAC).” Gleb Kostarev Similarly, Binance General Manager for Russia and CIS…

FDUSD Market Cap Jumps By 20% Following Binance Directive

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The First Digital USD (FDUSD) stablecoin has recorded a significant rise in its market cap following an announcement by the Binance exchange in August. FDUSD, a dollar-pegged stablecoin, was recently launched on June 1, 2023, debuting on the Ethereum network and the BNB Smart Chain. The token was officially listed for specific trading pairs on the crypto exchange in July. Binance’s Directive Drives Adoption Of FDUSD  On August 31, Binance confirmed reports of intention to halt support for Binance USD (BUSD) stablecoin following the regulatory embargo on the token’s issuance.…

Jim Cramer endorses Binance and BNB despite recent troubles

“Mad Money” host Jim Cramer says he’s bullish on Binance and its BNB token, even as the crypto exchange faces regulatory hurdles and liquidity concerns. Jim Cramer, the American television host renowned for his financial acumen, has taken a bullish stance on Binance and its native cryptocurrency, BNB. Known for his CNBC program “Mad Money,” Cramer’s endorsement comes when the crypto exchange is grappling with regulatory challenges and market turbulence. Jim Cramer’s controversial market influence Jim Cramer is no stranger to controversy, but his sway in financial circles is unquestionable.…

Binance Faces Another Executive Departure as Its Global Head of Product Resigns

Despite the recent wave of executive departures from Binance, the company said in June that it was embarking on a hiring spree with more than 2,000 available positions. Binance, the world’s largest cryptocurrency exchange, is experiencing another high-profile exit as Mayur Kamat, the Global Head of Product and Design, resigns from his role. Kamat’s departure is the latest in a series of executive exits in recent months. A spokesperson for Binance confirmed Kamat’s resignation in an emailed statement thanking him for his contributions during a period of substantial growth. “We…

Binance head of product quits as executive exodus continues

Cryptocurrency exchange Binance continues to lose some of its key executives amid increasing scrutiny of the platform from regulators around the world. Binance head of product Mayur Kamat has confirmed he is leaving the crypto exchange after nearly two years. “It is time for me to step down and transition product leadership to Binance’s next-gen leaders. I have worked closely with product leads to ensure a seamless transition,” Kamat told Cointelegraph on Sept. 4. Kamat also said that it is a good time for him personally to take some time…