Tag: Binance

US DoJ is concerned about a run on Binance should prosecutors bring fraud charges: Report

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The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to an Aug. 2 Semafor report citing people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run on the exchange similar to what happened with FTX in November 2022. They are reportedly considering fines or non-prosecution agreements for Binance rather than criminal charges in an effort to reduce the harm to consumers. Binance was already reportedly the target of…

Curve Finance’s CRV Gets Plunge Protection on Binance

“Market makers tend to pull orders to avoid getting caught in an unfavorable price swing,” Medalie told CoinDesk. “That is why liquidity disappeared on order books during big market events, such as the March banking crisis or FTX collapse,” she continued. “Right after the Curve exploit, we saw the opposite trend, with liquidity being added to the CRV order books, specifically on the bid side.” Source

Binance Coin Price Gears Up for Over 10% Upswing

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Binance Coin (BNB) has recently exhibited a period of price consolidation, displaying a lateral movement within the range of $245 to $234 over the past two weeks. This intriguing price action has given rise to a bullish reversal pattern known as the inverted head and shoulders, hinting at potential future price movements. The inverted head and shoulders pattern is a popular technical analysis formation, often indicating a potential trend reversal. It consists of three main components: a low, followed by a lower low forming the “head,” and then another low…

Binance denies reports of $90 billion in crypto trades in China

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Binance has reportedly continued operations in China, despite the country’s ban on cryptocurrencies, even conducting billions of dollars worth of transactions monthly, according to a Wall Street Journal investigation.  The WSJ report says its reporters, along with current and former employees of Binance, viewed “internal figures” that revealed users traded $90 billion in cryptocurrency-related assets in China during the time span of only one month. However, as these claims surfaced Binance has come out in denial of conducting any business in China. In a statement given to Cointelegraph via email,…

Binance To Enter Japan With A Bang, Will List More Tokens Than Any Local Exchange

According to Japanese-based crypto media outlet Coinpost, Binance will launch in Japan fully this month and intends to list 34 tokens on its exchange. This means the platform will offer more tokens than its local competitors in Japan, with major domestic exchanges Bitbank, GMO Coin, and Coincheck listing 30, 36, and 22 tokens, respectively.  The largest crypto exchange by trading volume intends to list its native BNB token, making this the first time it will be available in the country. Some of the other tokens expected to be listed include…

Binance Japan begins launching trading services for residents

Major cryptocurrency exchange Binance has announced the launch of a Japan-based arm roughly two years after receiving a warning from the country’s financial regulator. In an Aug. 1 announcement, Binance said local crypto exchange Sakura Exchange Bitcoin has launched as Binance Japan in an effort to operate within the country’s regulatory framework. The firm said it was offering spot trading for 34 tokens as of Aug. 1, with plans to migrate global Binance users starting on Aug. 14. We’re proud to announce that #Binance has officially launched in Japan as…

Nigeria’s SEC warns against trading on Binance

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The Nigerian Securities and Exchange Commission (SEC) has warned local investors against using one of the world’s largest crypto exchanges, Binance. It refers to the previous circular issued against a fraudulent company illegally using the Binance brand. On July 28, the SEC issued a warning against investing with Binance. The agency insists that the platform doesn’t have a license to work in the country and that its operation is illegal. It also reminds the public about the high level of risk and potential total loss of investments: “Any member of…