Tag: Binance

Binance, CEO Changpeng Zhao intends to seek dismissal of CFTC complaint

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Crypto exchange Binance and its CEO Changpeng “CZ” Zhao are planning to file a motion to dismiss a March-filed lawsuit from the United States commodities regulator. In a July 24 filing to an Illinois District Court, multiple Binance entities, Zhao and former chief compliance officer Samuel Lim said they plan to file two separate motions to dismiss the complaint before July 27. “The Foreign Binance Entities and Zhao intend to file a joint Motion to Dismiss the Complaint. Lim intends to file a separate Motion to Dismiss the Complaint, and…

Binance Embraces Worldcoin: Altman’s Orb-Based Project Goes Live on Major Exchange

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Binance has announced that it would be launching the Worldcoin token, the principal digital asset of the Worldcoin project, co-founded by the brilliant AI programmer and entrepreneur Sam Altman. Worldcoin’s introduction on Monday received a lot of attention from the cryptocurrency community due to its novel approach to resolving issues of identification and wealth disparity. Released in May, Worldcoin’s World App is a gas-free crypto wallet that showcases the company’s commitment to innovation after its transition from Polygon to Optimism. Binance is adding two new spot trading pairs for the Worldcoin…

BTC Price Drops to $29K as WSJ Ratchets Up Binance Issues, China Warns of ‘Torturous Recovery

“Binance does not engage in or tolerate wash trading, which is a violation of our terms of use, nor has it ever done so. Binance has a dedicated Market Surveillance team that is responsible for reviewing surveillance related to potential abusive and/or manipulative behavior including wash trades and trade price manipulation. The Market Surveillance team utilizes surveillance models and a team of experienced surveillance professionals to detect and prevent market abuse,” Binance’s spokesperson said. Source

BTC Drops to $29K as WSJ Ratchets Up Binance Issues, China Warns of ‘Torturous Recovery

Around the same time, China’s ruling Communist Party’s 24-member Politburo — its top decision-making body, led by President Xi Jinping – said the country’s economy is facing new difficulties and the economic recovery will be challenging. Early this year, analysts widely cited China’s reopening of its economy as a major bullish tailwind for risk assets, including cryptocurrencies. Original Source 29KBinanceBTCChinaDropsIssuesRatchetsRecoveryTorturousWarnsWSJ CryptoX Portal

Binance, Huobi, Bybit and OKX Listed Worldcoin’s WLD Token, Which has Spiked Over 20%

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Binance reportedly accepting voluntary resignations

Binance is reportedly willing to accept voluntary terminations from employees. The offers, sent out recently according to Adam Cochran, a crypto influencer and analyst, allow employees to resign, sign a new non-disclosure agreement (NDA), and receive a severance package of three months’ salary. Binance is ready to accept voluntary resignations It’s unclear why Binance CEO Changpeng Zhao has implemented this option, but reports suggest that employees from different departments can opt for voluntary termination. It is said that those willing to accept these offers were required to leave immediately.  With the crypto…

Binance France audited, holds €1 billion in crypto

Binance France has unveiled its first-ever audited financial statements, following its ability to secure registered status in the country. A recap of the report In adherence to local regulatory and legal mandates, Binance France commits to publishing these audited financial statements annually. The financial statements covering 14 months, beginning with the company’s inception on Nov. 8, 2021, and ending with the financial year ending on Dec. 31, 2022.  The report goes on to share that Binance France holds approximately €1 billion in crypto assets on behalf of its users, specifically catering to…

Binance slashes costs, Ripple ready for US banks and crypto VCs return

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The crackdown on crypto firms by the United States Securities and Exchange Commission (SEC) appears to have severely affected Binance’s business. During the past few weeks, the crypto exchange reportedly fired over 1,000 employees and slashed some benefits.  According to Binance, the “current market environment and regulatory climate” have caused a decline in profits, suggesting more cuts may be in the works. A spokesperson told Cointelegraph the firm would consider scaling back on “certain products, business units, staff benefits and policies” in response to business and regulatory concerns. Binance has…

Binance CEO warns of phishing scams as Uniswap founder gets hacked

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Binance CEO Changpeng “CZ” Zhao is the latest figure in the cryptocurrency industry to warn against the increasing number of phishing attacks. CZ took to Twitter on July 21 to warn his readers about phishing and other social engineering scams. He also recommended cryptocurrency exchange users rely on hardware devices for two-factor authentication (2FA), instead of using mobile carrier-based 2FA for example. “Best to enable 2FA with a hardware device (Yubikey) on all crypto exchanges,” Binance CEO wrote. Zhao’s warning came shortly after Uniswap founder Hayden Adams had his Twitter…