Tag: Binance

‘Low Tier’ Crypto Exchanges Gain after Binance Falters

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Regulatory and legal troubles Binance faced in the United States (and globally) led to a significant drop in the crypto market giant’s share. Surprisingly, the main beneficiaries of this situation were not the exchange’s main competitors, but smaller platforms whose share in total volumes considerably grew since the beginning of the year. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! According to data presented by CCData, exchanges located in Seychelles, including KuCoin and Huobi…

Cyberconnect token debuts on Binance with 30% dip

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cyberconnect’s coin CYBER was listed on Binance. Right after the listing, its value dropped by 30%. Cyberconnect’s token, CYBER, was added to the Binance platform on Aug. 15. The coin’s price can now be tracked at the crypto stats websites, such as CoinGecko and CoinMarketCap. Shortly after the listing, CYBER experienced a 30% drop in its value. According to CoinGecko, the coin nosedived from $7 to $4.92. At the time of writing, its low was at…

Binance files order against SEC’s ‘fishing expedition’

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance lodges a petition against the SEC, arguing that the regulator’s wide-reaching demands are undue and exceed the scope of their case.  On August 14, Binance filed a petition for a protective court order with the United States Securities and Exchange Commission (SEC). It argued the regulator’s demands for exchange communications impose an undue burden. Binance emphasized in the filing that the SEC’s discovery efforts resemble a “fishing expedition,” exceeding the case’s scope. They maintain that…

Binance Connect shutting down on August 16

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Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson.  The same day, BNB Chain decentralized exchange Biswap tweeted that Binance “has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service.” The Binance spokesperson stated:  “At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy.…

Binance seeks protective order against SEC’s ‘fishing expedition’

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Binance has asked a court for a protective order against the Securities and Exchange Commission (SEC) over what the crypto exchange claims is a “fishing expedition” from the regulator. In an Aug. 14 court filing, Binance put forward a motion for a protective order following deposition notices and discovery requests from the SEC. “BAM has worked in good faith, but the SEC has been steadfast in its belief that the Consent Order gives it carte blanche to investigate every aspect of BAM’s asset custody practices without any discernible limitation whatsoever,”…

SEC to appeal Ripple’s victory, Binance aims for growth, PayPal launches stablecoin

Amid ongoing regulatory efforts, the U.S. Securities and Exchange Commission (SEC) is poised to contest Ripple’s recent victory. Binance captures attention with ambitious growth moves, while PayPal introduces its very own stablecoin.  Greater scrutiny in the U.S. This week, government agencies sought to establish clarity. The Federal Reserve introduced an innovative endeavor aimed at overseeing cryptocurrency operations within banking institutions. The Novel Activities Supervision program will diligently track activities pertaining to cryptocurrencies, encompassing trading and lending, with a particular emphasis on enhancing the security of stablecoins. The SEC deferred its…

Top Crypto Exchange Binance Sinks $5,000,000 Into Curve (CRV) Following Massive Hack on the DeFi Platform

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The venture capital arm of crypto exchange Binance just announced that it is putting money into the native token of the decentralized finance (DeFi) platform Curve. In a statement, Binance Labs says that its $5 million investment in the Curve DAO Token (CRV) signifies its commitment to join forces with the largest stableswap and second-largest decentralized exchange (DEX). The announcement comes as the price of CRV dipped following a massive hack on the platform in late July. Says Binance Labs head Yi He, “Given the recent events that have impacted…

Binance applies for Taiwan AML compliance: Report

The world’s leading crypto exchange by trading volume, Binance, has reportedly applied to get registered under the money laundering control act introduced by the Financial Supervisory Commission (FSC) of Taiwan. FSC reportedly informed dozens of domestic crypto service providers that Binance is applying to get registered for anti-money laundering (AML) compliance, according to a report published in local media. The report cited Chen Peiyun, the co-founder of Taiwan’s currency exchange BitShine,  as the source of the information who revealed that the FSC named Binance as one of the exchange prospects that is planning…

Curve DAO Scores $5 Million Boost From Binance, Eyes BNB Chain Expansion

In a strategic move to bolster the decentralized finance (DeFi) sector, Binance Labs, the venture capital and incubation arm of Binance, has committed a substantial $5 million investment in Curve DAO Token (CRV).  The Ethereum-based CRV token is the backbone of the Curve ecosystem, which has established itself as the largest stable swap and second-largest decentralized exchange (DEX). Curve and Binance’s BNB Chain Forge Strategic Alliance As part of the partnership, Curve will explore the deployment of its protocol on the BNB Chain, the thriving ecosystem powered by its native…