Binance

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

The intensifying regulatory oversight in the U.S. is highlighting the increasing need for non-U.S. dollar-pegged stablecoins in the cryptocurrency industry, Binance Chief Executive Officer Changpeng Zhao said on Tuesday.  See related article: Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown Fast facts See related article: SEC may make […]

Bitcoin was the only top 10 non-stablecoin cryptocurrency to gain in Tuesday morning trading in Asia in a market unsettled by regulators in the U.S. targeting digital asset companies.

Paxos Trust Company has been ordered by the New York Department of Financial Services (NYDFS) to stop issuing the U.S. dollar-pegged Binance USD (BUSD) stablecoin

The U.S. SEC may sue the Paxos Trust Company for allegedly violating investor protection laws in its issue of the Binance USD (BUSD) stablecoin.

Paxos Trust, the issuer of Binance’s BUSD stablecoin, is reportedly being investigated by the New York State Department of Financial Services (NYDFS).

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Bitcoin prices gained in Tuesday afternoon trading in Asia while Ethereum dropped with most other top 10 non-stablecoin cryptocurrencies by market capitalization.

Binance, the world’s largest crypto exchange, will suspend all deposits and withdrawals of U.S. dollars at its international exchanges from Feb. 8.

CeDeFi offers the benefits of CeFi and DeFi without their shortcomings, writes Alexander Tkachenko of VNX. Here’s how it works.

Binance has stopped providing wallet services to Indian crypto exchange WazirX, asking it to withdraw any remaining assets held in Binance wallets by Feb. 3.

Binance has returned to South Korea after a two-year break by acquiring a majority stake in the local cryptocurrency exchange GOPAX, Bloomberg reported Friday.

Binance Holdings Ltd., the world’s largest cryptocurrency exchange, acknowledged it mistakenly stored customer funds in the same wallet holding collateral for its Binance-pegged tokens, known as B-Tokens

Signature Bank will not handle transactions of less than US$100,000 for crypto exchange customers starting in February, according to exchange giant Binance.

Binance Charity Fund, the philanthropic arm of the world’s largest crypto exchange, Binance Global Inc., has announced it is funding 30,665 Web3 scholarships in 2023.

Bitcoin slipped below US$21,000 in Friday afternoon trade in Asia while prices of other top 10 non-stablecoin cryptocurrencies were mixed. 

The Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury that combats financial crimes, has named Binance, the world’s largest cryptocurrency exchange, as one of the top three receiving counterparties of Bitzlato Ltd. 

Binance, the world’s largest cryptocurrency exchange, has received regulatory approval from the Swedish Financial Supervisory Authority to operate as a financial institution to manage and trade in virtual currency, as part of the exchange’s continuing expansion in Europe.

Binance, the world’s largest cryptocurrency exchange by volume, is planning to increase staff by as much as 30% this year.

Binance’s U.S. wing has received court approval to buy Voyager Digital’s crypto platform for US$20 million, as part of Voyager’s plan to liquidate in bankruptcy.

Binance Global, the world’s largest crypto exchange, has acknowledged flaws in its systems that allowed its BNB Smart Chain-based BUSD stablecoin to be under-collateralized by up to US$1 billion on at least three occasions, according to a Wednesday report from Bloomberg.

Federal prosecutors have issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.

The U.S. SEC has objected to Binance’s U.S. affiliate’s proposed US$1 billion purchase of bankrupt crypto lender Voyager Digital’s assets.

Binance declined to comment on reports in local media that it is in late stage talks to acquire South Korean digital asset exchange GOPAX.

While the collapse of FTX may invite more scrutiny for centralized exchanges, Binance’s Patrick Hillmann believes it could benefit the industry through more decentralization.

Bitcoin prices rose Wednesday morning in Asia amid a week of volatile price movements in end-of-year trading.

Bitcoin and Ether gained in Asian trading on Tuesday afternoon, with Dogecoin leading declines across the top 10 non-stablecoin cryptos

The deal will need approval in a court hearing on January 5 and also faces a vote by creditors under Voyager’s chapter 11 bankruptcy filing.

Busan announced the steering committee for its flagship exchange, but it didn’t include global partners earlier linked to the project.

Bitcoin and Ether were little changed on Monday after a weekend slump amid worries about a global recession and the stability of crypto exchanges.

Mazars, the financial auditing firm behind Binance’s proof-of-reserves (PoR) audit, has suspended all work for crypto firms.

Kevin O’Leary Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com. 

An official in the South Korean city of Busan said the authorities have received no confirmation that Binance has pulled out of a partnership to establish the country’s first city-backed crypto exchange, as reported by local media.

Bitcoin and Ether increased in Asian trading on Wednesday afternoon, with Solana leading gains across most top 10 non-stablecoin cryptocurrencies

Binance, the world’s largest cryptocurrency exchange, announced at 12:54 a.m. on Wednesday in Hong Kong that USDC stablecoin withdrawals have resumed.

The Binance cryptocurrency exchange “temporarily paused” USDC stablecoin withdrawals while it carried out a “token swap,” the company announced Tuesday.

Bitcoin and Ether rallied in Asian trading on Tuesday afternoon. BNB was the biggest loser across the top 10 non-stablecoin cryptocurrencies

Prosecutors at the U.S. Department of Justice (DOJ) are reportedly split on filing charges against Binance and its executives on possible money laundering and sanctions violations, as part of a long-running criminal investigation.

Some 97% of Binance’s scrutinized crypto liabilities are collateralized by Bitcoin and Wrapped Bitcoin, according to a report by auditing firm Mazars about Binance’s proof of reserves

Wemade Co. Ltd. said its in talks to have Binance Institutional Services take custody of its native cryptocurrency, WEMIX.

Top blockchain and crypto news: Grayscale’s cryptic reserves. Binance rides to the rescue? China hit by protests and digital dissent.

The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.

Bitcoin and Ether fell in Tuesday morning trading in Asia as U.S.-based crypto lender Blockfi filed for bankruptcy overnight in what is seen as another casualty of the collapse of the FTX exchange this month.

Changpeng Zhao tweeted that Binance’s proof of reserves have “absolutely no negative balances involved” after the exchange released its PoR on Friday.

Bitcoin was little changed in Monday morning trading amid mixed results from the other top 10 non-stablecoin cryptocurrencies following a relatively muted few days of trading over the Thanksgiving weekend in the U.S.

The world’s largest cryptocurrency exchange Binance released its proof of reserves (PoR) on Friday to provide transparency on user funds.

Binance said it will establish a US$1 billion fund for its “Industry Recovery Initiative” to mitigate the damage from the collapse of the FTX exchange. 

The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.

Bitcoin and Ether strengthened in Asia trade on Wednesday afternoon, reversing some of their losses on Monday and Tuesday. Top 10 cryptocurrencies by market capitalization, except stablecoins, also increased.

CoinMarketCap has introduced a proof-of-reserve tracker for centralized crypto exchanges in a bid to improve transparency.

Coinbase CEO Brian Armstrong is reassuring users about the financial health of the Nasdaq-listed crypto exchange, following a tweet — since deleted — from CZ of Binance.

The world’s largest crypto exchange seeks to hire 600 more employees by the end of this year, its founder and chief executive officer said.

The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.

Should we be questioning which Web3 projects need tokens?

Binance.US is preparing to re-bid for bankrupt lending platform Voyager Digital’s assets, according to a CoinDesk report.

Indian crypto exchange CoinSwitch’s proof of reserves summary, that was shared on Thursday, stated that as of Nov. 4, the exchange’s overall holdings of crypto and fiat balances in Indian Rupees (INR) exceeded those held by the exchange on behalf of its users.

In a submission to the U.K. Parliamentary Treasury Committee, Binance denied that it deliberately sought to sink competitor crypto exchange FTX.

Binance, world’s largest cryptocurrency exchange, has obtained Financial Services Permission from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), to provide custody to professional clients in and from the Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital.

Circle, the issuer of U.S. dollar-pegged stablecoin USDC, has said that stronger competition in the stablecoin market is likely to pressure Circle stablecoins, thereby slowing its growth and weighing on the financial outlook of the company. 

Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?

Ethereum founder Vitalik Buterin is looking to develop a proof-of-reserves protocol and Binance may be the “guinea pig” and serve as its first test case, said Binance chief Changpeng Zhao.

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

The collapse of one of the world’s biggest crypto exchanges last week has investors worried about the finances of other trading platforms. Cold wallet time?

Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.

While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.

The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.

There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.

A portion of the bailout package worth at least US$4 billion that FTX’s Sam Bankman-Fried sent to Alameda Research was allegedly comprised of customer funds. 

The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.

Binance backs out of its initial offer to buy FTX. What could happen to FTX next?

Binance may have nixed the deal to bailout rival exchange FTX.com, but it could still gain a big chunk of FTX’s business as investors flee the platform.

Binance cites due diligence on FTX books for pulling out of a deal to buy FTX.com, sending markets into a tailspin and leaving Bankman-Fried in need of another buyer… fast.