According to historical CoinMarketCap data, 24-hour volume for COMP trading pairs averaged between $10 million and $15 million between June 11 and June 24. On June 25, it experienced $170 million in daily volume with a further $119 million being printed on June 27. Source ActivityBinanceCOMPDaysFlurryRisesTokenWhale CryptoX Portal
SEC lawsuits on crypto exchange Binance and founder Changpeng Zhao has dented the company’s business operations with trading volumes taking a hit. The world’s largest cryptocurrency exchange by trading volume – Binance – saw a drop in its market share this month in June following the regulatory action by the US Securities and Exchange Commission (SEC) on the exchange and its chief Changpeng Zhao. The lawsuit has particularly affected the US affiliate of the crypto exchange i.e. Binance.US. Blockchain data and research firm Kaiko reported that Binance’s share in the…
“While we are unable to share details of conversations with regulators, we continue to work to comply with BaFin‘s requirements. As expected, this is a detailed and ongoing process. We are confident that we have the right team and measures in place to continue our discussions with regulators in Germany,” a Binance spokesperson said in an emailed statement to CoinDesk. Source
“Binance will be changing the provider for EUR deposits and withdrawals via Bank Transfer (SEPA). Our current partner, Paysafe, will no longer be providing these services to Binance users from 25th September 2023,” a spokesperson for the exchange told CoinDesk in an email. Source
Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm unlocked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance . The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including SUI staking rewards had been sold: “Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise.” “All insider token allocations remain subject to and…
Binance and its legal team filed a motion to have the SEC stopped from stating that CZ and the exchange had commingled users’ funds. The ongoing litigation between Binance Holdings Limited and the United Securities and Exchange Commission (SEC) is slated to have a huge impact on the cryptocurrency industry in the region. Crypto firms that operated in a similar manner as the Binance ecosystem – including staking as a service, crypto custodial services, and token listing for trading – clearly understand whatever the court rules for the exchange will…
In response to feedback from its user community, Binance has retracted its previous decision to delist certain privacy coins in select European nations, opting instead for a reclassification strategy. In a major shift in policy, Binance, the globe’s premier cryptocurrency exchange, has announced its decision to maintain listings for specific privacy coins for European traders, following earlier signals of their impending removal. The reversal came about after rigorous consultations with the community and various projects, prompting a change in the classification of privacy-focused digital currencies. Seven such cryptocurrencies, namely decred,…
In the middle of the night, Binance Australia’s team was suddenly told it would be “cut off” from Australia’s banking system. There was no prior warning, consultation or redress, the exchange’s regional manager Ben Rose has claimed. On May 18, Binance Australian announced its dollar services were suspended after its payments provider Zepto was told to stop support for Binance from Cuscal — Zepto’s partner banking and payments provider. Rose told an audience at the Australian Blockchain Week on June 26 that the move impacted around 1 million customers based…
A federal judge overseeing the lawsuit between Binance.US, Binance Holdings Limited and CEO Changpeng “CZ” Zhao and the United States Securities and Exchange Commission (SEC) has denied a motion that could have stopped the financial regulator from issuing public statements related to the case. In a June 26 ruling in the U.S. District Court for the District of Columbia, Judge Amy Berman Jackson suggested it was unnecessary for the court to intervene regarding the basis for a motion from parties affiliated with Binance and Binance.US. The legal team filed a…
Binance, a prominent player in the cryptocurrency exchange industry, has experienced a notable decline in market share amid increasing regulatory scrutiny and legal challenges. Recent data from Kaiko reveals that Binance’s spot trading market share reached its lowest point in nearly a year, standing at 55.9% in June 2023. This decline can be attributed to various regulatory actions against the exchange, particularly by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). In the United States, the SEC and the CFTC have filed complaints and…