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Bitcoin hits lowest price in two years as Binance cancels FTX acquisition

Just over 24 hours after news of Binance’s planned acquisition of FTX shook the crypto market, a reversal of that decision sent prices even lower.

Binance pulls out of FTX buyout; latest updates and commentary

The following is a running compilation of views and comments on Binance’s announcement that it will not go ahead with the acquisition of FTX.com.

Binance likely to back out of FTX deal: report

Binance may scrap its proposal to acquire cryptocurrency exchange FTX, after examining FTX’s “internal data and loan commitments,” according to an unnamed source “familiar with the matter” cited by CoinDesk on Wednesday. 

Singapore’s Temasek holds stake in FTX, a target of Binance takeover

Singapore’s state-owned investment firm Temasek is a shareholder in embattled cryptocurrency exchange FTX, which faces a possible takeover by bigger rival Binance

Binance’s Changpeng Zhao emerges as ‘winner on all fronts’ of FTX acquisition

Commonly known as “CZ,” the Chinese-Canadian founder of Binance appears to have stolen Sam Bankman-Fried’s shine, coming out of the FTX acquisition with the most to gain.

Binance boosts emergency insurance fund to US$1 billion on market volatility

Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday. 

Binance and FTX – Should you be worried?

Binance has announced its intentions to buy rival exchange FTX. Should you be worried?

What could Binance gain from FTX’s wider investments?

FTX has invested in many projects through its FTX Ventures arm, contributing to two of the 10 biggest blockchain and crypto funding rounds in the industry. Here are the top five investments FTX has been involved in.

Binance set to swallow FTX as run on exchange allows CZ to swoop

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

Binance’s pending acquisition of FTX may attract attention of antitrust regulators

Binance chief executive officer Changpeng Zhao already runs the world’s largest cryptocurrency exchange so just what are his ambitions?

Binance becomes white knight for fallen FTX: How did we get here?

Binance steps in with deal to buy FTX.com, but with so many moving parts to consider how messy could this pending acquisition get?
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Binance buys FTX: Updates on what it means for the crypto industry

The following is a running compilation of views and comments on Binance’s takeover of the FTX exchange amid speculation of solvency problems at FTX.

Markets: Bitcoin hits year low, Ether slumps as Binance rescue of FTX unnerves investors

Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.

Binance agrees to acquire FTX following liquidity crunch

Binance, the world’s largest cryptocurrency exchange, has agreed to acquire rival exchange FTX, Sam Bankman-Fried announced on Tuesday. 

Sam Bankman-Fried’s FTX token falls more than 20% amid Binance feud

Crypto exchange FTX’s native token, FTT, fell more than 20% in afternoon trading in Asia amid speculation rival exchange Binance is selling off the FTX token.

CZ vs. SBF tweet exchange is no ‘fight,’ Binance CEO claims

Binance chief executive officer Changpeng Zhao (CZ) said in a Twitter thread that he had no intention of picking a fight with FTX CEO Sam Bankman-Fried.

Binance to sell FTX token holdings amid questions over trading arm Alameda finances

Binance CEO Changpeng Zhao said Binance will liquidate its remaining FTT tokens issued by the second-largest crypto exchange FTX amid questions over Alameda Research.

Binance will re-enter South Korea’s crypto market, CZ says

Binance is preparing to operate in South Korea’s crypto market, said CEO Changpeng Zhao at the Web Summit 2022 held in Lisbon.

Binance considers buying banks, bridging gap between crypto, TradFi

The world’s largest crypto exchange seeks to become a bridge between traditional finance and cryptocurrencies.

Markets: Bitcoin, Ether, Cardano, XRP fall; BNB gains on Binance Twitter investment

Bitcoin and Ether fell in Monday morning trading in Asia, along with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins.

Binance confirms equity in Elon Musk’s Twitter acquisition

Binance has confirmed its participation in Tesla Chief Executive Officer Elon Musk’s Twitter acquisition as an equity investor.

Binance says will help Busan city grow blockchain industry from bottom up

Busan, S. Korea’s designated blockchain city, plans to make itself a global center for the technology. Binance, the world’s largest crypto exchange, plans to help.

Education is best protection measure in blockchain tech, says Binance chief CZ

Binance CEO Changpeng Zhao believes education is key to a wider, safer adoption of blockchain technology.

Binance says BSC hard fork successful after hack

Binance Global Inc., the operator of the world’s largest cryptocurrency exchange, says it successfully completed a hard fork of its BNB Smart Chain (BSC) network around 5 p.m. Hong Kong on Wednesday. See related article: Binance to hard fork BNB Smart Chain amid heated debate around decentralization Fast facts A hard fork is a split […]

What’s next for Binance after $100 million BNB hack?

Top blockchain and crypto news: Binance puts brakes on BNB Chain theft. Will quantum computing kill crypto? Huobi sells up.

Binance to hard fork BNB Smart Chain amid heated debate around decentralization

The crypto world has been watching how one of the world’s largest blockchains responds to a hack last week and the questions it raises about the state of decentralization in the industry.

Binance suspends BNB blockchain on potential exploit; Peckshield reports US$572 mln hack

The BNB Chain — the blockchain operated by the world’s largest crypto exchange, Binance Global Inc. — has suspended operation as developers have identified a potential exploit on the network, according to an official Binance Twitter account. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts […]

Binance gets nod to operate in Kazakhstan

Binance has obtained a “permanent license” to operate a digital asset platform and provide custody services at Kazakhstan’s Astana International Financial Center, the world’s largest cryptocurrency exchange announced in a blog post on Thursday. See related article: Binance targets expansion in Philippines, Turkey, executive says Fast facts The license gives Binance the status of a […]

Binance targets expansion in Philippines, Turkey, executive says

The world’s largest crypto exchange’s regional head of Asia says the Philippines’ GameFi community and rampant inflation in Turkey present opportunities for Binance.
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Binance sets up shop in New Zealand in global push

Binance, the world’s largest cryptocurrency exchange, has launched a local branch in New Zealand after becoming a registered financial service provider, Chief Executive Officer Changpeng Zhao announced on Friday. See related article: Binance taps ex-U.S. senator Max Baucus to chair global advisory board Fast facts “New Zealand is an exciting market with a strong history of […]

Binance launches ETHW mining pool, ETHW price surges

Binance, the world’s largest cryptocurrency exchange, has launched its mining pool service for Ethereum Proof-of-Work (ETHW), a forked version of Ethereum. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Binance Pool said on Thursday that it offers zero pool fees for the ETHW pool during a promotion period until […]

India ED freezes US$1.57 mln in crypto allegedly laundered through WazirX, Binance

India’s financial crime fighting agency has frozen over US$1.5 million in cryptocurrencies as part of a money laundering investigation against mobile gaming application E-nuggets, the Enforcement Directorate (ED) said on Wednesday.   See related article: Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says Fast facts The ED launched a money laundering […]

Binance law enforcement training program to seek out ‘bad actors’

Binance, the world’s largest cryptocurrency exchange, has launched a dedicated program to “help law enforcement detect financial and cyber crimes,” in a move it claims to be an industry first to combat crypto crimes, the exchange said Tuesday, as it navigates regulatory headwinds and ramps up compliance efforts. See related article: Binance says it complies […]

Terra Classic surges 50% as Binance offers token burning mechanism

Terra Classic (LUNC), the original crypto token of the Terra-LUNA blockchain that collapsed back in May, gained over 50% on Tuesday following an announcement by Binance, the world’s largest crypto exchange by volume, that it would support a burn mechanism for the network. See related article: For South Korea, making Do Kwon pay for his […]

Binance taps ex-U.S. senator Max Baucus to chair global advisory board

Binance has tapped Max Baucus, a former U.S. senator and ambassador to China, to chair its new global advisory board, to advise the world’s largest cryptocurrency exchange on regulatory, political and social issues. See related article: Binance stablecoin conversion controversial, but what does it mean for users? Fast facts Binance said on Thursday in a […]

Binance stablecoin conversion controversial, but what does it mean for users?

Binance generated controversy when it told customers it would convert their holdings in three stablecoins to its own stablecoin. Some analysts say the concerns are overblown, others disagree.

Binance and FTX lead bidding for bankrupt Voyager

Crypto exchanges FTX and Binance have reportedly made the highest bids on bankrupt crypto lender Voyager Digital Ltd. and its assets, but neither offer had been accepted as of Tuesday, according to a Wall Street Journal report.  See related article: Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal  Fast facts The WSJ article […]

Binance’s crypto keys; What’s after the Merge?

Binance takes the headlines today as they lead the funding of blockchain security specialists Salus Security.

Binance leads funding round in blockchain specialist Salus Security

Binance Labs, the incubator and investment arm of the world’s largest cryptocurrency exchange, said it invested an undisclosed amount in Salus Security, which provides blockchain smart contract audits and automated smart contract vulnerability detection. See related article: Binance’s US$7.5 billion woman sees plenty of promise in bear markets Fast facts Binance Labs said in a […]

India’s WazirX to delist USDC, apply auto convert to Binance’s stablecoin

WazirX, India’s largest cryptocurrency exchange by trade volume, said it has stopped deposits of stablecoins USDC, USDP and TUSD, and will automatically convert users’ existing balances to Binance’s USD-backed stablecoin BUSD at a 1:1 ratio.  See related article: India’s WazirX introduces new ‘learn and earn’ campaign with The Sandbox Fast facts WazirX will begin the […]

Binance’s US$7.5 billion woman sees plenty of promise in bear markets

Yi He, who manages the multibillion-dollar portfolio at Binance Labs, is looking to invest in Web 3.0 projects from infrastructure, application and data to analytics and security.

Binance makes additional investment in Mo Shaikh’s blockchain startup Aptos

Binance Labs, the venture capital arm of world’s largest cryptocurrency exchange, has made a follow-on investment in Aptos Labs, as a part of a broader fundraising round by the blockchain startup. See related article: Aptos raises US$150 mln from FTX Ventures, Jump Crypto Fast facts Aptos will use the funds to expand its team and […]

Binance launches Ethereum staking ahead of Merge upgrade

Top blockchain and crypto news: Binance bets on Ethereum Merge. What does Terra’s sudden resurgence mean? China seeks to expand e-CNY ecosystem.

Binance pushes out USDC in aggressive move to boost its own stablecoin

Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.

Binance halts USDC support; Inflation hits crypto

Binance puts it’s own stablecoin, BUSD, at the forefront. Meanwhile, inflation casts its own shadow across the crypto.

Binance move to remove USDC and others raise questions about market conduct

The world’s largest cryptocurrency exchange said the move was designed to “enhance liquidity and capital-efficiency for users.” 

Binance chief Changpeng Zhao reiterates Binance not a Chinese company

Binance founder and CEO Changpeng Zhao reiterated that Binance is not a Chinese company and it “was never incorporated in China,” as the country continues to ban cryptocurrency trading. See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts In a blog post published on Thursday, Zhao wrote that the […]

Binance says it complies with regulators following US anti-money laundering probe report

Binance, the world’s largest cryptocurrency exchange by trading volume, said it has worked with regulatory agencies from around the world to address outstanding compliance questions, following a Reuters report that U.S. federal prosecutors asked the exchange to offer internal records involving founder and CEO Changpeng Zhao for anti-money laundering checks in late 2020. See related […]

Binance Australia strengthens user protection: report

Binance Australia is tightening its sign-up process for new users, as part of renewed efforts to protect users considered most vulnerable to scams and cyber attacks, according to a report by Binance Australia. See related article: Binance to suspend ETH deposits, withdrawals during “The Merge” Fast facts According to the report, the company’s research and […]

Binance to help S. Korea’s Busan build first city-backed exchange

Global crypto exchange Binance and the city of Busan in South Korea announced a memorandum of understanding (MOU) on Friday to promote the growth of the blockchain ecosystem in the city and the development of the Busan Digital Asset Exchange. See related article: Issue tokens later for growth, not for initial fundraising, advises Binance chief […]

Binance to suspend ETH deposits, withdrawals during “The Merge”

Binance, the world’s largest cryptocurrency exchange by trading volume, said it will suspend deposits and withdrawals for ETH and ERC-20 during “The Merge,” in support of Ethereum’s migration to the proof-of-stake (PoS) model. See related article: Ethereum finalizes start date for Bellatrix upgrade Fast facts Binance said on Thursday that it will do so on […]

Binance receives in-principal approval to operate in Kazakhstan

The world’s largest cryptocurrency exchange, Binance, has received in-principal approval to operate a digital asset trading facility and provide custody services in Kazakhstan from the Astana Financial Services Authority (AFSA), the company announced on Monday. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts Binance is still required to complete […]

ETH futures contracts open interest on Binance breaks 8-month high: Glassnode

Ethereum futures contracts open interest reached an eight-month high of over US$3.1 billion on Binance on Sunday, Glassnode said on Twitter. See related article: Markets: Bitcoin little changed, Ether dips below $2,000, Memecoins surge Fast facts See related article: Privacy protocol Monero completes upgrade to make transactions more private

Binance-incubated Injective Labs raises US$40 mln

Pantera Capital-backed Injective Labs has raised US$40 million to be used to create blockchain optimized for financial applications, it said in a statement.  See related article: Singapore DeFi derivatives exchange SynFutures closes US$14M fund raise Fast facts The funding round was led by Jump Crypto and BH Digital, the crypto arm of hedge fund manager […]

Binance to support Ethereum’s PoS Merge, evaluate new forked tokens

Binance will support Ethereum’s “Merge,” expected in September, and will evaluate if it would list any newly forked tokens, the world’s largest cryptocurrency exchange by trading volume said on Wednesday. See related article: USDC, Tether announce support for Ethereum proof-of-stake Fast facts Binance said it is closely monitoring the development of the merge, which could […]

Binance-WazirX spat heats up as investors yank funds from Indian exchange

Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.

India crypto traders try to dodge fallout from WazirX woes, spat with Binance

What’s a crypto trader to do when the government freezes exchange assets, sparking a war of words between supposedly ‘merged’ exchanges?

Issue tokens later for growth, not for initial fundraising, advises Binance chief Changpeng Zhao

Web3 companies should issue tokens to accelerate growth, not to gather initial funds, said Binance founder and chief executive officer (CEO) Changpeng “CZ” Zhao at a fireside chat at Korea Blockchain Week 2022 on Tuesday.  See related article: Binance spent over US$1B on compliance, founder Changpeng Zhao says Fast facts “When people come into Web3 […]

Binance to stop off-chain transfers with India’s WazirX

Leading cryptocurrency exchange Binance will remove the off-chain fund transfer channel between India’s WazirX and itself beginning Aug. 11, following recent regulatory action taken against Zanmai Labs Private Limited, the entity operating WazirX. See related article:  Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Users will […]

Business as usual at India’s WazirX as Binance distances itself

Indian crypto exchange WazirX said its operations are being conducted as usual, even after Binance denied owning equity in Zanmai Labs, the entity operating WazirX. The spat over ownership — Binance had reportedly acquired WazirX in 2019 — surfaced after Indian authorities reportedly froze US$8 million in WazirX assets, alleging possible violation of foreign exchange laws. […]

Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases

Binance has partnered Mastercard to introduce a Binance card in Argentina for making purchases and paying bills with cryptocurrencies.  See related article: Philippines’ SEC warns public not to invest with Binance Fast facts The product is currently in a beta phase and will be widely available in the coming weeks, Binance said. The card is […]

US crypto bill pile up; Philippines Binance warning

US Senate proposes the CFTC takes responsibility of Bitcoin and Ethereum. Meanwhile, Philippine authorities warn against Binance

India questions Binance-backed WazirX on foreign exchange violations

India’s Directorate of Enforcement (ED), responsible for enforcing economic laws and fighting economic crime, is investigating two cases against crypto exchange WazirX under the Foreign Exchange Management Act of 1999 (FEMA), reported local media. See related article: Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Zanmai […]

Philippines’ SEC warns public not to invest with Binance

The Philippines’ Securities and Exchange Commission (SEC) has cautioned the public not to invest with Binance, the world’s largest cryptocurrency exchange by trading volume, in response to think tank Infrawatch PH’s request to ban Binance in the Philippines. See related article: Philippines think tank calls for ban on Binance Fast facts In a letter responding […]
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Binance cofounder Yi He to head US$7.5B VC arm Binance Labs

Binance has named cofounder Yi He as the new head of its incubator and venture capital (VC) arm Binance Labs, as the world’s largest cryptocurrency exchange by trading volume works to invest in “projects with the tenacity to thrive in tough market conditions.” See related article: Calling a spade a spade holds Binance’s lesser known […]

Binance spent over US$1B on compliance, founder Changpeng Zhao says

Binance founder and CEO Changpeng Zhao Monday said the world’s largest cryptocurrency exchange by trading volume spent over US$1 billion on compliance efforts with its market share continuing to increase. See related article: Binance’s Changpeng Zhao sues Bloomberg publisher in HK Fast facts Zhao Monday said on his verified Twitter handle that a recent CoinDesk […]

Binance’s Changpeng Zhao sues Bloomberg publisher in HK

Binance founder and CEO Changpeng Zhao is suing the Hong Kong publisher of Bloomberg Businessweek for defamation for an article published last month. See related article: Binance fined by Dutch central bank for improper registration Fast facts Zhao Monday filed a lawsuit in Hong Kong against Modern Media Co. Ltd., which publishes the Chinese edition […]

Binance fined by Dutch central bank for improper registration

Cryptocurrency exchange Binance has been fined in the Netherlands for operating without proper registration, the Dutch central bank said on Monday. See related article: Binance gets nod from Spain to offer crypto exchange, custody services Fast facts De Nederlandsche Bank (DNB), which oversees crypto service provider registrations, said it imposed a 3.3 million euro (US$3.4 […]

Binance gets nod from Spain to offer crypto exchange, custody services

Binance’s third approval in Europe came after the Bank of Spain allowed its Spanish subsidiary to register as a virtual asset services provider (VASP), the world’s largest crypto exchange by volume said Friday.  See related article: SEC said to probe Binance for rule violation in 2017 initial coin offering: report Fast facts The registration will […]

DTI says no legal basis to ban Binance in the Philippines

The Philippines’ Department of Trade and Industry (DTI) said it cannot ban Binance for cryptocurrency-related sales and promotion as there are no clear regulations issued by the Banko Sentral ng Pilipinas (BSP), the nation’s central bank.  See related article: Crypto is based on the greater fool theory: Philippines’ incoming central bank chief Fast facts “Cryptocurrency […]

Bitcoin briefly above $22,000; Binance Philippines ban urged

Bitcoin briefly returns to the US$22,000 mark. Meanwhile, InfraWatch PH calls for a ban on Binance in the Philippines.

Philippines think tank calls for ban on Binance

Infrawatch PH, a public policy think tank in the Philippines, wrote to the country’s Department of Trade and Industry calling for a ban on Binance for promoting cryptocurrencies without proper licensing, according to a letter accessed by Bitpinas.  See related article: Crypto is based on the greater fool theory: Philippines’ incoming central bank chief Fast […]