Binance replaces BUSD in SAFU Fund with TUSD & USDT Binance assured its users that this change will not impact them in any way, and that their funds will continue to be held in publicly verifiable addresses. News Own this piece of history Collect this article as an NFT Cryptocurrency exchange Binance announced on March 17 that it has replaced BUSD holdings in the Secure Asset Fund […]
Coinbase disables trading for BUSD US-based cryptocurrency exchange Coinbase announced the suspension of trading for the Binance USD (BUSD) stablecoin on March 13 via Twitter. We have disabled trading for Binance USD (BUSD). Your BUSD funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time. https://t.co/jfpCZX7UTC — Coinbase Assets (@CoinbaseAssets) […]
Binance US, Alameda, Voyager Digital and SEC — the ongoing court saga Over the last year, a series of court cases have struck the crypto industry. Bankruptcy, liquidity issues and fraud have caused the industry to fall under the microscope of regulators around the world. The former cryptocurrency brokerage company Voyager Digital, Alameda Research - the investment arm of FTX- and cryptocurrency exchange Binance have been among […]
Key Bitcoin price metrics point to BTC downside below $22.5K Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank's 57.7% stock crash which was due to significant losses and "suboptimal capitalization." The U.S. fintech-friendly bank was a key financial infrastructure provider for exchanges, institutional investors and mining companies and some investors are worried that its potential demise could have wide-ranging negative […]
Here’s how Binance is mitigating its stablecoin needs after BUSD ban Binance has turned to a new set of stablecoins in the wake of the United States Securities and Exchange Commission’s (SEC) regulatory action against its native stablecoin, Binance USD (BUSD). The SEC had sent a Wells notice, alleging BUSD violates U.S. securities law. Following the SEC’s notice, the New York Department of Financial Services (NYDFS) […]
Binance tried to hire Gary Gensler in 2018 for closer ties with U.S. regulators: Report Crypto exchange Binance sought to hire Gary Gensler as an advisor before he became chairman of the United States Securities and Exchange Commission (SEC), according to a Wall Street Journal report based on messages and documents from 2018 and 2020, as well as interviews with former employees. Gensler was approached by the crypto firm while […]
BNB Chain hackathon winner accuses Binance of stealing AI-powered NFTs idea Crypto exchange Binance has been accused of “blatantly” copying the winner of the BNB Chain hackathon after launching Bicasso — an AI-based nonfungible token (NFT) creation tool. Binance allegedly ripped off a tool created by Chatcasso just two months after awarding them first prize in a BNB Chain hackathon held in Seoul between Dec. 17 […]
Crypto Exchanges Binance and Kuna Suspend Card Transactions in Ukrainian Hryvnia Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media. Ukrainians Unable to Trade Crypto Assets Using Cards in National Currency The world’s largest crypto exchange, Binance, and a leading Ukrainian […]
Crypto Exchange Binance Joins Forces With Law Enforcement to Launch Anti-Scam Campaign Binance has launched its Joint Anti-Scam Campaign in collaboration with law enforcement agencies worldwide to fight “an alarming uptrend” in crypto-related scams, the cryptocurrency exchange said. “So far, the project has achieved tremendous results,” Binance claimed. Binance’s Joint Anti-Scam Campaign Cryptocurrency exchange Binance announced Friday that it recently launched a campaign to combat cryptocurrency-related scams […]
Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The cryptocurrency exchange Bybit, […]
Binance launches anti-scam campaign after Hong Kong pilot run Binance, in cooperation with law enforcement agencies, is launching a campaign to prevent scams by issuing targeted alerts to potential victims, according to a March 3 blog post from the company. The project, called the “joint anti-scam campaign” was rolled out first in Hong Kong, and the company now intends to expand it into other […]
Binance CEO Changpeng Zhao Supports $1.02B Voyager Deal Despite SEC’s Objection Binance chief Changpeng Zhao has reiterated his support for the acquisition of Voyager Digital. The Securities and Exchange Commission objected to the deal during a recent court hearing. The SEC faced criticism from a U.S. bankruptcy judge for its objection to the Voyager deal. Binance U.S’s bid to acquire Voyager Digital ran into some trouble […]
Bitcoin’s Price Drop Causes Over $200 Million in Long Liquidations Across Crypto Derivative Exchanges On Feb. 24, 2023, bitcoin’s price remained above the $23,000 threshold and then rose to a peak of $23,829 per unit on March 1. On March 2 at 8 p.m. Eastern Time, the price of bitcoin fell, dropping below the $23,000 mark. This decline resulted in a significant $237.97 million worth of long liquidations on […]
BUSD market cap drops by $14b amid delisting concerns BUSD’s market cap has dropped below $10 billion from its all-time high set at $23.49 billion on Nov. 15, 2022. The market cap drop is a new all-time low in the past two years as the coin faces a regulatory crackdown from the US authorities and possible delisting from Coinbase. The market cap trajectory has […]
Binance Tests AI-Infused NFT Platform Bicasso in Limited 10K Mint Run On Wednesday, Binance CEO Changpeng Zhao, also known as CZ, announced the launch of a new non-fungible token (NFT) platform infused with artificial intelligence (AI). The AI-centric product is named Bicasso, and CZ said the beta version dropped today and was limited to 10,000 mints. Combining AI and NFTs: Binance CEO Announces Bicasso Artificial intelligence […]
LUSD sister token pumps 103% on upcoming Binance listing The recent surge in Liquity’s (LQTY) price may be linked to its listing on Binance, one of the world’s largest cryptocurrency exchanges. Liquity (LQTY) has seen a significant price increase over the past week, outperforming both the global cryptocurrency market and similar Ethereum Ecosystem cryptocurrencies. At the time of writing, LQTY is trading at $1.95 […]
Binance CEO hits back at Forbes report, calls it ‘baseless’ Binance CEO, Changpeng Zhao, has refuted claims by Forbes, accusing the exchange of ‘shuffling’ $1.8 billion in stablecoin collateral to numerous hedge funds. Binance has been in the limelight since Forbes published a story claiming that the exchange transferred $1.8 billion in collateral to hedge funds without informing its customers. The article drew parallels between […]
Coinbase To Suspend Binance USD $BUSD Trading By Mar. 13 Summary: Coinbase said that the Binance-branded stablecoin BUSD does not meet the listing standards on the major crypto exchange. BUSD trading will be suspended on March 13, 2023, per an official tweet from the San Francisco-based company. “BUSD funds will remain accessible to you,” said the exchange as withdrawals will continue. Coinbase will discontinue trading […]
Is the SEC’s action against BUSD more about Binance than stablecoins? Binance branded stablecoin, Binance USD (BUSD), is a dollar-backed stablecoin issued by blockchain infrastructure platform Paxos Trust Company, and is the third largest stablecoin after Tether’s (USDT) and Circle’s USD Coin (USDC). Paxos has claimed in the past that BUSD is fully backed by reserves held in either fiat cash or United States Treasury bills. […]
Aussie regulators review Binance Australia Derivatives over account closures Binance Australia Derivatives sent an abrupt message to a select group of users on Feb. 23, saying it would be immediately closing their accounts due to a false classification of some users as “wholesale clients.” This incident caused a flurry of responses from users on social media, and the next day, the Australian Securities and […]
