Tag: Issues

Binance.US solves USD withdrawal issues but warns it won’t last long

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U.S. crypto exchange Binance.US has informed customers it has resolved its U.S. dollar withdrawal issues after working with its banking partners but warns the relief may not last. The reportedly independent subsidiary of crypto exchange Binance told customers in a June 22 update that its system remains fully operational and that USD withdrawal requests are expected to go back to their normal five-business-day turnaround. On June 9, the exchange suspended dollar deposits and notified its customers of an incoming pause to fiat withdrawal channels amid its ongoing battle with the…

OPNX Files Defamation Lawsuit Against Mike Dudas, Issues Justice Tokens

“Along with my colleagues at Brown Rudnick, we are proud to represent Mike Dudas in defense of this lawsuit filed by 3 Arrows Capital’s ‘ecosystem partner’ OPNX,” crypto attorney Stephen Palley told CoinDesk. “In order to prove defamation you have to show, among other things, reputational damage. We look forward to seeing how the plaintiff plans to prove that in this case.” Original Source DefamationdudasFilesIssuesJusticeLawsuitMikeOPNXTokens CryptoX Portal

Faroe Islands postal service issues NFT-embedded stamps

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The Faroe Islands have issued a new series of digital “crypto stamps,” with a digital copy stored on the blockchain as a nonfungible token (NFT) while still serving as actual postage.  On June 23, the Posta Faroe Islands’ official website for issuing postage announced that the autonomous region issued its first collection of crypto stamps called Stamps of Maybe in collaboration with VariusSystems.  Stamps of Maybe crypto stamps. Source: Posta Faroe Islands According to the postal service, each physical stamp has a digital version stored on the blockchain, which allows users…

Binance Denounces Entity Registered in UK, Issues Cease and Desist

Binance has confirmed it is not affiliated with a supposed branch in the UK after a Reddit post shared the exchange’s alleged UK address. Major crypto exchange Binance announced that it issued a cease and desist order to Binance Ltd in the UK. In a tweet from Binance’s official account, the exchange said the referenced company has no business with the company. The Binance tweet was in response to a Reddit post brought to Twitter, stating that the Binance office in the UK is a “utility closet”. The post includes a picture of the…

Bank of China issues $28M in digital structured notes on Ethereum blockchain

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On June 12, Bank of China’s investment bank subsidiary BOCI announced the issuance of 200 million Chinese yuan ($28 million) worth of digital structured notes minted on the Ethereum blockchain. The move makes BOCI the first Chinese financial institution to issue a tokenized security in Hong Kong. Investment banking company UBS helped originate the product for placement to its client in the Asia-Pacific region. Ying Wang, the deputy CEO of BOCI, commented: “Working together with UBS, we are driving the simplification of digital asset markets and products, for customers in…

Bank of China’s Investment Bank BOCI Issues Tokenized Securities on Ethereum in Hong Kong with Swiss Bank UBS

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Binance.US coins trade at premium amid litigation fears, fiat gateway issues

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On June 7, multiple coins and tokens listed on Binance.US, the U.S. subsidiary of cryptocurrency exchange Binance, began deviating from their fair value to trade at premiums. Coins such as Bitcoin (BTC) and Ether (ETH) were priced at $27,445 and $1,911, respectively, compared to CoinMarketCap averages of $26,490 and $1,850. Meanwhile, stablecoin tokens such as Tether (USDT) and USD Coin (USDC) broke their par value to trade at $1.03 and $1.04, respectively. The same day, Binance.US removed over a dozen USDT-based trading pairs, paused its over-the-counter trading portal, and limited…

US District Court issues summons for Binance CEO Changpeng Zhao over SEC action

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The United States District Court in Washington, D.C. issued a summons for Binance CEO Changpeng Zhao on June 7, just two days after the Securities and Exchange Commission (SEC) formally sued the exchange for alleged unregistered securities operations.  “A lawsuit has been filed against you,” the summons read. NEW: @binance CEO @cz_binance has been order to respond/answer the summons of a U.S. District Court along with the other entities named in the case. He does not have to appear in person but respond within the time frame below https://t.co/UipLm9TRye — Eleanor Terrett…

Kraken faces issues with funding gateways, deposits and withdrawals affected

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Kraken is experiencing delays in deposits and withdrawals due to issues with multiple crypto funding gateways such as bitcoin (BTC), ether (ETH), and ERC20. On June 6, Kraken announced that it is addressing an issue causing delays in deposits and withdrawals of several cryptocurrencies. The exchange has not disclosed the root cause of this problem. This announcement first appeared on the company’s status page at 7:44 am UTC, followed by two updates indicating that the team…