Traders Say Binance Cut Their Bitcoin Shorts: Here’s Why It Happened

As the Bitcoin (BTC) price abruptly dropped from $9,500 to $8,100, some traders on Binance claimed that their winning short trades were unfairly cut short.  A trader named AthenaBank wrote on May 10: Deleverage? Binance close my short after I make 7 times my investment. What’s going on? Where is my short? The BTC dropped to $8,000. Who pays the difference? But, the closure of the shorts was systematic and the process is called auto-deleveraging. What is auto-deleveraging and how can winning Bitcoin trades get cut short? In the futures…

Binance Doesn’t Have a Headquarters Because Bitcoin Doesn’t, Says CEO

Binance CEO Changpeng “CZ” Zhao really doesn’t want to tell you where his firm’s headquarters is located. To kick off ConsenSys’ Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Binance brand. Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China’s digital yuan were unlikely to be competitors to existing stablecoin providers; how Binance’s smart chain wouldn’t tread on Ethereum’s toes – “that depends…

Binance Hires Former HSBC Banker and Fintech Veteran to Lead UK Growth

Major cryptocurrency exchange Binance has hired banking and fintech veteran Teana Baker-Taylor to lead its expansion in the United Kingdom and European market. Baker-Taylor has over 20 years of experience in HSBC, Citi, and the Royal Bank of Scotland, and was the executive director of U.K.-headquartered blockchain and digital assets industry body Global Digital Finance.  In 2018 and 2019, she was recognized as one of the most influential women in fintech globally by Innovate Finance and was also awarded the Blockchain Leader award by Women In Tech in 2019. In…

CZ Insists That DDoS Attacks Were Foul Play From Binance Competitors

As Zhao told Cryptox on May 4, the April 29 attack was “well-coordinated” and focused on making Binance services unavailable in some countries of Asia. Competitors behind the attacks? Zhao emphasized that there are “a number of tell-tale” signs that such attacks came from competing exchanges. In the statement, Binance’s CEO stated that DDoS attacks were more expensive for hackers than for the exchange itself. CZ provided more details regarding specific DDoS targets: “The attacks focused on all of our public endpoints in those targeted regions simultaneously. We use a…

Binance Pooling Up Mining Game Amid Centralization Concerns

This week marked the launch of Binance Pool, a mining platform powered by one of the world’s largest cryptocurrency exchanges. Coming less than a month after Binance’s CEO Changpeng Zhao confirmed rumors of this forthcoming addition to his brainchild company’s product family, the announcement paints the new mining pool as the bridge between “traditional mining and financial services.” The lowest fees in the market and seamless integration with a full suite of Binance’s financial products are the major selling points meant to lure miners. The news reinvigorated the debate about…

Brave Browser Brings Binance Integration to All Desktop Users

Privacy-focused web browser Brave has integrated the Binance widget into the latest stable release across all of its desktop offerings.  An announcement on April 30 notes that the widget is enabled by default, placing the Binance cryptocurrency exchange in front of all of the browser’s millions of desktop users. Previously the widget was only available for testing in Brave Nightly and Beta versions. Turn on, tune in, and trade out Any user opening a new tab or window in the browser is clearly presented with the new Binance widget along…

Is Binance Getting Too Big? CZ Responds

Cointelegraph conducted an exclusive interview with Binance founder and chief executive, Changpeng Zhao, or CZ, during Virtual Blockchain Week. During the discussion, CZ addressed concerns from the crypto community regarding the size and influence of Binance amid the firm’s increasing acquisitions and horizontal expansions. CZ: ‘the free market works’ On the topic of Binance’s increasing presence within the crypto ecosystem, CZ stated: “I think basically there’s two sides to it.”  “So there’s the worry about are we too big or not, and then there is why are users choosing us?…

Bitcoin Roars Past $9,000 as Frantic FOMO on Binance & Coinbase Continues

The past 24 hours have been explosive for the Bitcoin market. Ever since breaking past $7,800 on Wednesday morning, the cryptocurrency has been in a nearly unstoppable uptrend, rallying past resistance after resistance in the $7,000s, $8,000s, then most recently, the ever-important $9,000 level. This steep uptrend comes on the back of an influx of buying volume on retail exchanges such as Coinbase, which temporarily crashed on Wednesday due to the influx of buying activity. Binance, too, saw an influx of volume, with the exchange registering $11 billion worth of…

Binance Trading Volume Reaches All-Time High Amid Bitcoin’s Price Surge

As the Bitcoin price skyrocketed close to $9000 on April 29, Changpeng Zhao, or CZ, announced that Binance, the world’s largest crypto exchange, has hit $11 billion in trading volume over the past 24 hours. This number is considered an all-time high for the exchange. According to CZ’s post, the last time the exchange came near $11 billion was in early 2018.  Today they reached a new record in terms of trading volume.  Source: CZ Twitter Post  Crypto community is bullish  Crypto traders responded positively about the exchange’s ATH volume. Some…

After Steem Voting Controversy and Hardfork, Binance Lists HIVE

In response to customer demand, leading cryptocurrency exchange Binance launched trading support for the community-led Steem (STEEM) hard fork Hive (HIVE) on April 27. HIVE can now be traded against Bitcoin (BTC), Tether (USDT), and Binance Coin (BNB), however, withdrawals and deposits will not go live until April 29. While Huobi’s recently introduced support for HIVE skyrocketed the token’s price over 600% in three days, Binance’s announcement appears to have resulted in a bearish pull-back — with HIVE dropping 20% from $0.95 to $0.75 over the past 11 hours. Binance…