Tag: Binance

Project alleges unreturned listing deposit as Binance announces delistings

On Dec. 15, cryptocurrency exchange Binance announced that four tokens — Mithril (MITH), Tribe (TRIBE), Augur (REP) and Bitcoin Standard Hashrate Token (BTCST) — would be delisted from the exchange effective Dec. 22 due to not meeting the “high level of standard we expect.” Immediately after the announcement, decentralized social media protocol Mithril, whose token had a market capitalization of less than $10 million at the time of publication, posted the following statement on Twitter: “Today, Binance has announced that it will delist MITH. As part of the MITH listing, Binance…

On-Chain Data Shows Crypto Exchange Binance Isn’t Exhibiting ‘FTX-Like’ Behavior

“At the time Binance’s Proof of Reserves report was conducted, CryptoQuant’s estimate of Binance’s BTC reserves (liabilities) was 591,939 BTC. This compares to the PoR report’s Customer Liability Report Balance of 597,602 BTC. We can see that CryptoQuant data covered 99% of Binance’s liabilities,” CryptoQuant wrote, using the ticker symbol for bitcoin. Collateralization is 101% when taking the exchange’s assets and debtors into account, it said. Source

Kevin O’Leary Blames Binance for FTX Crash

O’Leary emphasized that the share purchases and FTT token sales both affected FTX’s balance sheet. Shark Tank investor Kevin O’Leary blamed popular crypto exchange Binance for the FTX crash while speaking at the Senate Committee hearing on the 14th of December. According to the Canadian entrepreneur. Binance caused FTX to collapse on purpose. In October, FTX was one of the reigning crypto exchanges, with millions of users globally. From being one of the biggest exchanges on earth, the crypto company collapsed in the twinkle of an eye. The sudden misfortune…

Kevin O’Leary Tells US Lawmakers FTX Failed Because Binance Intentionally Killed It – Featured Bitcoin News

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Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has told U.S. Congress that he believes the collapsed crypto exchange FTX failed because rival Binance intentionally put it out of business. He said former FTX CEO Sam Bankman-Fried (SBF) told him that Binance, which owned a 20% equity stake in FTX, refused to comply with regulators’ requests whenever FTX applied for a license in different jurisdictions. Kevin O’Leary Shares Why He Thinks FTX Failed With U.S. Senators Shark Tank star Kevin O’Leary shared why he thinks crypto exchange FTX collapsed in…

Only 1% of people can handle crypto self-custody right now: Binance CEO

Binance CEO Changpeng “CZ” Zhao has cautioned the crypto community about self-custody, suggesting that 99% of people choosing to self-custody their crypto will likely lose it one way or another.  CZ has been been a supporter of self-custody for years, referring to its as a “fundamental human right” but has always urged users to “do it right.” He published a “CZ’s Tips” on self-storing crypto in Feb. 2020. During a recent Binance-run Twitter Spaces on Dec. 14, the Binance CEO continued to urge caution for those using self-custody wallets —…

Amid Withdrawals, Binance CEO Warns of Bumpy Months Ahead – Exchanges Bitcoin News

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Binance founder Changpeng Zhao (CZ) has reportedly told staff to expect some difficult months as the leading cryptocurrency exchange is seeing customer withdrawals. The warning comes while the crypto industry is facing challenges after high-profile bankruptcies and amid tightening regulations. $3 Billion Pulled Out From Binance at Peak, Nansen Data Shows Binance, the world’s largest crypto exchange by trading volume, saw net outflows reaching $3 billion on Tuesday, Nov. 13, blockchain analytics firm Nansen revealed. The news comes as Changpeng Zhao, founder and chief executive of Binance, sought to assure…

Binance ‘put FTX out of business’ — Kevin O’Leary

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The collapse of FTX was triggered by Binance, claimed investor Kevin O’Leary on Dec. 14 speaking at the United States Senate committee hearing about the crypto exchange meltdown. O’Leary, who was a paid spokesperson for FTX, provided details about conversations with Sam Bankman-Fried in the days before FTX filed for bankruptcy.  During his testimony, O’Leary said he had questioned SBF regarding how customer funds were used in the past 24 months and was told that almost $3 billion were used to repurchase shares of FTX owned by Binance. When asked…

Can Binance Survive Or Is This The End?

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Binance, the largest crypto exchange in the world by trading volume, has been the target of massive FUD (Fear, Uncertainty, and Doubt, for the uninitiated) over the last couple of days. After FTX collapsed, users in the space began to question if exchanges actually held enough in their reserves to honor all customers. Given what happened to FTX, is it possible for Binance to come out of this unscathed? Binance Withdrawals Intensify As the FUD spread across social media platforms, Binance users had taken to withdrawing their deposits from the…

Binance Chief Warns Employees of Challenging Times Ahead amid Crypto Winter

The Binance CEO also spoke about the USDC withdrawal suspension while explaining the impact of the crypto winter. Binance founder Changpeng Zhao has sent a memo to employees to inform them of the challenging months ahead amid the persistent crypto winter. In addition to warning to look out for tough times, the CEO also assured staff that the company would survive the current troubles. In the memo, the Binance chief said the company is in a strong financial position to” survive any crypto winter.” He also emphasized that the digital…