Tag: Binance

A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi – Bitcoin News

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After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some insight into the large sums of cryptocurrency held in custody by major exchanges. For example, Binance, the largest cryptocurrency exchange by trade volume, manages $66 billion in crypto assets, which is more than 6% of the entire cryptocurrency economy’s net value of $1 trillion. An Inspection…

Binance Charity to provide over 30K Web3 scholarships in 2023

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The philanthropic arm of Binance — Binance Charity — is set to fund 30,655 scholarships to students keen on forging out a career in Web3 in 2023. The Binance Charity Scholar Program (BCSP) will provide free Web3 education and training courses which will enable tech-savvy students to upskill without having to leap-frog any unnecessary financial barriers, Binance Charity explained, in a January 20 blog post: “We recognize that digital education and skills development can be out of reach for many, resulting in a blockchain industry that lacks diversity and talent.…

Binance Garnered Largest Market Share of Crypto Investors From Emerging Markets in 2022

Amid last year’s macroeconomic chaos, inflation in Brazil and Russia, which CryptoCompare groups with other emerging economies, reached 11.9% and 17.2%, respectively. About the time of these highs,  Russian Ruble (RUB) and Brazilian Real (BRL) volumes on Binance increased 232% and 72%, respectively. Source BinanceCryptoEmergingGarneredInvestorsLargestMarketMarketsShare CryptoX Portal

Binance to Increase Presence in Poland in Compliance With Local Regulations – Exchanges Bitcoin News

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Binance has unveiled intentions to broaden its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent and launch educational initiatives. Crypto Exchange Binance Moves Forward With Plans to Expand Operations in Poland Binance, the world’s largest digital asset trading platform, is enhancing its presence in Poland, noting in an announcement that it maintains its commitment to comply with the country’s rules for virtual asset service providers (VASPs). The expansion in 2023 will…

Does the Bitzlato ‘Nothingburger’ Spell Bad News for Binance?

That doesn’t necessarily mean Bitzlato was not “the China-based money laundering engine that fueled a high-tech axis of cryptocrime,” as the FBI alleges. After all, darknet transactions are supposed to be secretive. But at its height, the exchange only held $6 million in funds – a remarkably miniscule amount. Likewise, similar Web searches show how little traffic the so-called crime hub had. Source BadBinanceBitzlatoNewsNothingburgerSpell CryptoX Portal

Binance USD Exchange Reserves Dry Up, Behind Bitcoin Drop?

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On-chain data shows the Binance USD (BUSD) exchange reserves have declined recently, a factor that may be behind Bitcoin’s slowdown. Binance USD (BUSD) Exchange Reserves Have Gone Down As pointed out by an analyst in a CryptoQuant post, there was a very large inflow of $250 million BUSD just a while ago. The “exchange reserve” is an indicator that measures the total amount of a cryptocurrency (which, in the present case, is Binance USD) currently being stored on wallets of centralized exchanges. Generally, investors swap their coins for stablecoins like…

Binance tightens rules on NFT listings

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According to a Jan. 19 announcement by Binance, the cryptocurrency exchange has tightened its rules for nonfungible tokens, or NFT, listings. Starting Feb. 02, 2023, all NFTs listed on Binance before Oct. 2, 2022, and have an average daily trading volume lower than $1,000 between Nov. 1, 2022, and Jan. 31, 2023, will be delisted. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day.  Binance NFT requires sellers to complete know-your-customer (KYC) verification and have at least two followers before listing on…

FinCEN Names Binance as Counterparty in Order against Bitzlato

According to the FinCEN order, Bitzlato has been used to launder as much as $700 million since its inception, and according to the terms of the order, the regulator wants the named counterparties to stop doing business with Bitzlato. The United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has named the Binance exchange, the largest crypto trading platform in the world, as one of the counterparties in the order, it just issued against Bitzlato exchange. According to the release from FinCEN, Bitzlato is incorporated in Hong Kong and it…

Binance Named as Counterparty in FinCEN Order Against Bitzlato

“Approximately two-thirds of Bitzlato’s top receiving and sending counterparties are associated with darknet markets or scams. For example, Bitzlato’s top three receiving counterparties, by total amount of BTC received between May 2018 and September 2022 were: (1) Binance, a VASP; (2) the Russia-connected darknet market Hydra; and (3) the alleged Russia-based Ponzi scheme “TheFiniko,” the order said. Source