Tag: Binance

Binance Australia Derivatives reportedly closes accounts and positions for some users

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Binance Australia Derivatives users reported abrupt notifications sent by the digital asset platform on Feb. 23,  saying it is starting to close certain derivatives positions and accounts.  According to screenshots posted by various users on Twitter, users who did not meet the requirements to be a “wholesale investor” were told all of their positions would be closed, and they would no longer be able to access the Binance Australia Derivatives Platform. Binance closed derivative positions for many Australian users abruptly #Australia #binance pic.twitter.com/4t1gL08oK6 — Moidul Islam (@Mi_moidulislam1) February 23, 2023 Users…

Plans of Binance Acquisition of Voyager in Full Swing

Crypto lender Voyager Digital announced bankruptcy last year in July. On Wednesday, an attorney representing bankrupt crypto lender Voyager Digital stated that plans to wind up Binance.US’s $1.02 billion acquisition deal for Voyager are on track. Lawyers representing Voyager said that 97% of the votes so far have been in favor of the plans. The deadline to vote in on or object to the plan shall close at 4:00 p.m. ET Wednesday, February 23. Allyson Smith of Kirikland & Ellis, representing Voyager, told bankruptcy judge Michael Wiles: “As of last…

SEC files objection to Binance US bid for Voyager assets

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The United States Securities and Exchange Commission (SEC) has objected to Binance.US’ move to acquire over $1 billion of assets belonging to the defunct cryptocurrency lending firm Voyager Digital. According to a Feb. 22 filing submitted to the U.S. Bankruptcy Court in the Southern District of New York, the SEC believes that certain elements of the asset restructuring plan of Binance.US’ acquisition could breach Securities Laws. The SEC is formally investigating whether Binance.US and related debtors violated anti-fraud, registration and other provisions of the federal securities laws. The SEC noted…

Binance Deploys ‘Semi-Automated’ System, Claims Tokens Are Now Fully Backed

Binance hopes to ensure that reserves do not mix with client funds henceforth. Cryptocurrency exchange giant Binance has just launched what it calls a semi-automated system for its tokens. According to a Bloomberg report, this system will enable the exchange to properly manage its token reserves. Just last month, the crypto exchange admitted to errors that arose with tokens it issues, which were not always fully backed. At the time, it acknowledged that for a long, the tokens it issued had reserves that were either mixed with customer funds or…

Binance Partners Ingenico for Payment Solutions in France

It is expected that somewhere along the line, both parties will come up with a bigger solution that will allow payments to merchants in fiat currency. Crypto industry giants such as Binance have continued to exert their dominance despite the industry’s recent slump. According to a Twitter announcement, Binance has struck yet another partnership deal with Ingenico for digital assets payment solutions in France. This partnership follows after the cryptocurrency exchange recently obtained regulatory approval in the region. For what it’s worth, Binance is keen on expanding its tentacles across…

Under-the-Radar Altcoin Jumps 34% After Surprise Listing From Crypto Exchange Binance

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A surprise listing from Binance has triggered a big rally for a crypto project focused on helping funds flow from one blockchain to another. The exchange has added Synapse (SYN) to its Innovation Zone, which is a dedicated trading space for crypto assets that could be prone to increased volatility. Immediately after the listing, SYN surged from a 24-hour low of $1.25 to a high of $1.68 – an increase of 34%. Following the initial burst, SYN has retraced to $1.61 at time of publishing. Synapse is a decentralized bridge…