In a bid to alleviate worries for retail investors, Patrick Hillman, chief strategy officer at Binance, discusses the crypto exchange’s proof-of-reserve system following the collapse of FTX. Source
Cryptocurrency exchange Binance is working with accounting firm Mazars as part of its proof-of-reserve (PoR) audits triggered by the fall of FTX. Mazars, the accounting firm that worked for former United States President Donald Trump’s company, was appointed as an official auditor to conduct a “third party financial verification” as part of Binance’s PoR updates, the Wall Street Journal reported on Nov. 30. The accounting firm is reportedly already reviewing all of Binance’s publicly shared information on Bitcoin (BTC) PoR and will also be verifying future updates and tokens, a…
Cryptocurrency exchange Binance has acquired a regulated Japanese cryptocurrency exchange and is now preparing to enter the Japanese crypto market as a regulated entity. “The Japanese market will play a key role in the future of cryptocurrency adoption,” said the general manager of Binance Japan. Binance Entering Japan Cryptocurrency exchange Binance announced Wednesday that it has acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto exchange service provider that is regulated by Japan’s top financial regulator, the Financial Services Agency. The announcement explains: Through this acquisition, Binance enters the…
Data shows a Litecoin whale has withdrawn $65.5 million in LTC from the crypto exchange Binance, a sign that may prove to be bullish for the price of the coin. A Litecoin Whale Has Taken Out 835.8k LTC From Binance As per data from the crypto transaction tracker service Whale Alert, two large LTC transfers have been spotted on the chain during the past day. The first of these Litecoin transactions involved the movement of 73,794 LTC, worth just under $5.8 million at the time of the transfer. Massive transfers…
Data sourced from Dune Analytics shows an address supposedly owned by Crypto.com transferred 1.8 trillion shiba inu to Binance. Source
It is no secret that Binance benefits from FTX’s insolvency. After the second largest exchange in the world went belly up, other exchanges had to divide FTX’s market share among themselves. And that Binance is one of the biggest winners now seems to be confirmed by recent data. The Block claims that Binance now has a 75% market share on the spot market, 8.5 times more than the second Coinbase. 🚨Binance now represents 75% of all exchange volume, and almost 8.5x that of the second (Coinbase) Good or bad for…
Leading crypto exchange Binance has secured regulatory compliance in Japan via the 100% acquisition of local exchange Sakura Exchange BitCoin. Binance has announced the acquisition of Japanese-registered crypto exchange service provider Sakura Exchange BitCoin (SEBC). According to the Changpeng Zhao-led crypto exchange, it now owns 100% of Sakura. In addition, with its wholly-owned ownership, Binance seeks to foray into the Japanese clime, as an entity regulated by the Japan Financial Services Agency (JFSA). By offering Japanese-regulated services through SEBC, the major crypto exchange supports a responsible global environment for digital currencies. Binance Sakura Exchange…
Cryptocurrency exchange Binance plans to reenter the Japanese market after acquiring a 100% stake in a licensed crypto service provider in the country, Cointelegraph Japan reported. In an official public announcement on Nov. 30, Binance CEO Changpeng Zhao said the crypto exchange was committed to re-entering the Japanese market under regulatory compliance. The acquisition of Sakura Exchange BitCoin (SEBC), a Japan Financial Services Agency-licensed business, would mark the re-entry of global exchange in the Japanese market after four years. #Binance Acquires JFSA Registered Sakura Exchange BitCoin, Committed to Enter Japan…
Binance bought Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country’s Financial Services Agency (FSA), for an undisclosed amount. Source
BNB is currently trading at $300.082 with a 24-hour trading volume of $1,059,515,334. Despite the general market slump, the coin has been one of the top performers. It currently ranks at the number four position on CoinMarketCap. The coin has a 24-hour low of 289.76 and a 24-hour high of $304.82. The price change in 24 hours is increase of 2.36%. However, this price change does not truly convey the strength of the token in the market. BNB’s trading volume increased by 3.51% in the last 24 hours. There is…