Tag: Binance

Binance market share chopped with the end of zero-fee BTC trading

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New data has revealed that cryptocurrency exchange Binance has experienced a loss in market share after it ended its zero-free Bitcoin (BTC) trading. A report by CCData released in mid-May revealed that the exchange market share has continued to slide for the second consecutive, to 46.3%. This marks Binance’s lowest percentage of market share since October 2022. The market share drop follows Binance’s decision to end its zero-fee BTC trading promotion for most BTC trading pairs. A representative from Binance spoke to Cointelegraph saying: “We forecast a drop in market…

Private ID verification wins Binance Web3 reality show

Startups competed in a metaverse-based Web3 reality show called Build The Block to win an investment from Binance Labs. Crypto exchange Binance has announced the winner of its Web3 reality show, titled “Build the Block,” held in the metaverse. Within the show, startups competed with each other to win an investment from Binance Labs.  In an announcement sent to Cointelegraph, the Binance team said that zkPass won the contest after receiving the highest votes in the competition. The decentralized identity verification solution that preserves privacy came on top after competing…

Floki joins Binance Pay team to promote coin payments

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Floki has announced a strategic marketing partnership with Binance Pay. The meme coin is now available at the service. The partnership seeks to create targeted exposure for floki and strengthen its position as a utility token within the crypto community. Starting June 1, a special marketing campaign will be launched to reward users who spend at least $1 worth of goods using FLOKI through Binance Pay. The campaign will run throughout June, allowing floki enthusiasts to…

What will Binance Australia services look like after debanking?

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Binance users in Australia now have a narrowed pool of options to purchase cryptocurrencies amid the ongoing global debanking of crypto businesses. Since 5:00 pm local time on June 1, fiat on-ramps and off-ramps by bank transfers have been halted in Australia. The suspension includes trading for Australian dollar (AU$) pairs.  The shutdown of deposits and withdrawals is tied to previous developments impacting Binance in Australia. In February, Binance’s local derivatives arm abruptly notified its users that certain positions and accounts would be closed for those who didn’t meet the requirements…

Crypto Exchange Bybit Leaves Canadian Market Weeks Following Same Move by Binance

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Crypto exchange Bybit announced that it will cease offering its products and services in Canada just weeks after industry giant Binance decided to leave the country. In a new statement, Bybit says it will stop serving the Canadian market citing challenges in complying with new regulatory measures. “It has always been Bybit’s primary objective to operate our business in compliance with all relevant rules and regulations in Canada. In light of recent regulatory development, Bybit has made the difficult but necessary decision to pause the availability of our products and…

Tether USDT market cap breaks ATH, Binance CEO points at regulatory caps

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Tether-issued USDT (USDT) stablecoin broke past a new all-time-high market cap of over $83 billion as it continues its stablecoin market dominance. The new ATH market cap for the USDT stablecoin comes in a year when other stablecoin issuers are struggling to remain afloat due to regulatory ire. The same was pointed out by cryptocurrency exchange Binance’s CEO Changpang Zhao aka CZ. Tether USDT market cap chart. Source: Coinmarketcap CZ in a quote tweet drew attention towards BUSD, a Binance stablecoin issued by Paxos. The Binance CEO said that “BUSD…

Binance plans new round of layoffs amid increased regulatory scrutiny

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A fresh headcount reduction is coming to crypto exchange Binance, which is reportedly planning to lay off 20% of its workforce in June. The job cuts come after the company said earlier this year it would not lay off any employees. According to the exchange, the decision is not a downsizing but rather a resource reallocation. “As we prepare for the next major bull cycle, it has become clear that we need to focus on talent density across the organization to ensure we remain nimble and dynamic,” a spokesperson told…