Tag: Binance

Binance Director Could Be Summoned by Brazilian Parliament over Pyramid Scheme Allegations

This month, the crypto company faced issues with regulators in at least four countries.This month, the crypto company faced issues with regulators in at least four countries. The Director of Binance in Brazil Guilherme Haddad could be called to appear before the Brazilian Parliament. This is because there is an ongoing investigation regarding the crypto company operating a pyramid scheme in the country. Congressman Alfredo Gaspar made the summons, and the vote on this issue will be held on Tuesday, June 27th. One of the major issues this time is…

Binance faces scrutiny in Brazil, exec summoned to testify before Congress

Deputy Alfredo Gaspar, a member of the Brazilian Chamber of Deputies, has requested the summoning of Guilherme Haddad, the director of Binance Brazil, to appear before the Brazilian parliament as part of an ongoing Parliamentary Commission of Inquiry (CPI) investigation into alleged pyramid schemes in the country. The June 21 request will be voted on by members of the CPI on June 27.  According to a translation of the Brazilian news outlet Portal do Bitcoin, if the vote is approved, Haddad will be summoned to appear before the Brazilian Chamber of Deputies…

Binance accuses SEC of ‘misleading’ statements on exchange assets

Lawyers representing Binance.US, Binance Holdings Limited, and CEO Changpeng “CZ” Zhao have filed a motion alleging that the US Securities and Exchange Commission (SEC) misled the public with statements made in an ongoing securities lawsuit. In a recent filing in the US District Court for the District of Columbia, the legal teams for Binance, Binance.US, and CZ claimed that the SEC had made “misleading” statements in a press release on June 17. The motion calls for the SEC to adhere to “applicable rules of conduct.” The filing specifically referred to…

Binance, Binance.US and CZ allege SEC made ‘misleading’ statements on exchange assets

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Lawyers representing United States-based crypto exchange Binance.US, global exchange Binance Holdings Limited and Binance CEO Changpeng “CZ” Zhao have filed a motion alleging the U.S. Securities and Exchange Commission (SEC) misled the public in statements issued over an ongoing securities lawsuit. In a June 21 filing in the U.S. District Court for the District of Columbia, the legal teams for Binance, Binance.US and CZ claimed the SEC had made “misleading” statements in a June 17 press release and filed a motion for the financial regulator to comply with “applicable rules…

Binance Labs, CoinFund Lead $10M Round for Smart Contract Infrastructure Firm Neutron

Neutron, which had its mainnet launch in May, is a cross-chain smart contract platform that uses the Cosmos ecosystem’s interchain security feature, Replicated Security (RS). Developers can use Neutron to build smart contracts and decentralized applications (dapps) in a cost-effective and secure environment, the firm said in the statement. Source 10MBinanceCoinFundContractFirmInfrastructureLabsLeadNeutronSmart CryptoX Portal

Binance launches regulated platform in Kazakhstan amid troubles in the West

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Global cryptocurrency exchange Binance announced the launch of a regulated digital asset platform in Kazakhstan amid growing regulatory troubles in the West. The launch of the new platform was announced at a press event on June 20, 2023, in the presence of representatives of Kazakhstan’s banking industry and Binance Kazakhstan’s leadership.  The cryptocurrency exchange obtained an in-principle approval to operate in Kazakhstan in August and a permanent license to offer a digital asset platform and provide custodial services at the Astana International Financial Center (AIFC) in the country from the AIFC…

Binance SEC lawsuit could dent crypto exchange’s global plans

The United States Securities and Exchange Commission filed a lawsuit against Binance along with its U.S. platform and CEO Changpeng Zhao on June 5 in a Washington, D.C. federal district court for allegedly violating securities laws and offering unregistered securities.  The U.S. regulator has accused the crypto exchange of offering unregistered securities in the form of its now-paused Binance USD (BUSD) stablecoin and its native token BNB (BNB). The SEC also deemed its Simple Earn and BNB Vault products and its staking program as violations of securities law. The SEC…

Binance to Implement Lightning Network Nodes to Boost Bitcoin Transactions

Binance is working towards the full integration and implementation of the Bitcoin Lightning Network to ensure smooth customer experience for deposits and withdrawals. On Tuesday, June 20, the world’s largest crypto exchange Binance announced that it has started operating nodes on the Bitcoin’s Layer-2 scalability platform aka Lightning Network. Binance said that it would be a crucial step towards integrating deposits and withdrawals on the crypto exchange. Binance confirmed its presence on the Lightning Network through a tweet while acknowledging users who noticed it. However, it added that some technical…

Whales Withdraw Over $150,000,000 in Ethereum (ETH) From Crypto Exchanges Binance and Kraken: On-Chain Data

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Three crypto whales withdrew more than $150 million worth of Ethereum (ETH) from the crypto exchanges Binance and Kraken in the past week. All three addresses were newly created wallets, according to the blockchain tracker Lookonchain. The first whale withdrew 35,860 ETH worth more than $64 million from Binance across a series of transactions. The second pulled out 27,000 Ethereum worth more than $48 million from Binance across four withdrawals. And the third wallet withdrew 23,660 ETH worth more than $42 million from Kraken across five transactions. The withdrawals could…