Binance
BNB Chain releases year-long technical roadmap to develop ecosystem
BNB Chain has announced the launch of a technical roadmap designed with the intention to enhance the network’s decentralized structure, infrastructural capacity for sidechains, and potential for developer-built decentralized applications (dApps) to improve performance and efficiency. Announced at BNB Chain Revelation Summit, the document also revealed the latest iteration of the Most Valuable Builder incubation programme for aspiring Web3 software engineers. In February this year, Binance Chain and Binance Smart Chain were merged to form what is now referred to as BNB Chain, a multi-chain infrastructure layer supporting the new ecosystem, as well as BNB governance mechanisms. Related: Binance Smart Chain and Binance Chain become BNB Chain Some of the more notabl...
Investors dumping on Terra as LUNA 2 tanks 70% in two days
The price of Terra (LUNA) has tanked around 70% since the re-launch of the Terra ecosystem via Terra 2.0 on May 28. Under the revival plan of Terraform Labs founder Do Kwon, new LUNA tokens, also referred to as LUNA 2, are being airdropped to investors that previously held Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST). The only reason to buy $LUNA 2.0 is to qualify for the next airdrop of $LUNA 3.0 after it goes to zero like $LUNA 1.0 — Luke Martin (@VentureCoinist) May 29, 2022 According to data from CoinGecko, LUNA has dropped roughly 69% since its opening of $18.87 on Saturday to sit at around $5.71 at the time of writing. LUNA/USD chart: CoinGecko At this stage, the sharp plummet seems to suggest a relative lack of faith in Do Kwon’s revamp moving for...
Weekly Report: FTX’s Sam Bankman-Fried to spend billions on political and acquisition initiatives
FTX chief Sam Bankman-Fried early this week hinted that he would continue with his political donations, financially backing the ‘right’ presidential candidate in the 2024 US Elections. Details on this and other top headlines in the crypto space below: SBF to join the league of major political donors in the next US elections The crypto exchange billionaire known to be pro-Democratic party has set his sights on breaking the biggest political donation ever made in the US. In a podcast session, SBF revealed that he was willing to spend as much as $1 billion – a figure he described as a “sort of a soft ceiling”. He confirmed he would put “north of $100 million,” adding that the exact amount would depend on the candidate running and the political seats in question. This is not the fir...
Finance Redefined: Lifeline for Terra projects, proposed Terra hard fork and more
The past week in the decentralized finance (DeFi) ecosystem was dominated by Terra’s collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance. After its spiral collapse, Terra co-founder Do Kown proposed a revival plan and a hard fork to revive the blockchain. Chainalysis introduced new tools to monitor and track stolen funds across multiple blockchains. Swiss asset manager Julias Baer is eyeing crypto and DeFi potential. Top DeFi tokens saw another week of bleeding, with the majority of these tokens trading in red over the past week. Do Kwon proposes Terra hard fork to save the ecosystem Do Kwon, co-founder of the troubled Terra Luna blockchain, announc...
Binance seeks German license after recent approval by French regulators
The crypto exchange giant aims to become a licensed digital asset service provider in the biggest economy in Europe The move comes just weeks after the exchange acquired regulatory approval from France regulator in a quest to bite into the European market Expansion plans by the world’s largest crypto exchange in terms of volume, Binance, have shifted focus on winning regulatory approval in Germany. Co-founder and CEO Changpeng Zhao announced that the exchange held back late last year after pressure from financial authorities across several jurisdictions, Germany included, forced them to stop operations. Germany could join Dubai, Abu Dhabi and Bahrain in the list of jurisdictions where Binance has clearance to operate in. Binance CEO recently revealed at a conference that the exchange...
Binance CEO CZ to support Terra community but expects more transparency
Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, recently questioned the idea of hard forking the Terra blockchain as a means to revive the once-thriving LUNA and UST ecosystems. Following up on the same, CZ revealed his perspective on the appropriate course of action for falling projects across the crypto community. “This won’t work,” said CZ while dismissing the validators’ idea of a hard forking to TERRA2, which would involve providing a new version of LUNA to all holders based on a snapshot of the holdings before the market collapsed. CZ suggested: “Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin. I don’t own any LUNA or UST either. Just commenting.” Instead, he suggested that the Terra community should f...
Spanish regulator orders Binance to cease offering crypto derivatives
Binance has dropped its crypto derivative offerings in Spain as it is yet to be fully licensed in the country Elsewhere, Binance Turkey is taking legal action against fake ads The largest cryptocurrency exchange by trading volume, Binance, has been told by the securities regulator in Spain, the Comisión Nacional del Mercado de Valores (CNMV), to stop offering customers its crypto derivatives products, as per local reports. The trading platform has since removed the option for the crypto derivatives from its website, effectively preventing users from creating new operations. Binance has been seeking approval, and the move to comply with the order is part of the exchange’s efforts to woo the regulator. The regulator, on past occasions, warned against crypto derivatives such as futures ...
Binance reportedly halts crypto derivatives service in Spain
Binance stands as one of the most persistent crypto exchanges when it comes to gaining regulatory approval and operational licenses from regulators across the world. In this effort to operate as a fully licensed financial institution, the exchange has stopped offering it’s crypto derivatives services in Spain as it reportedly awaits approval from the Spanish regulator, Comisión Nacional del Mercado de Valores (CNMV). As evidenced by Binance’s official Spanish website, the crypto exchange removed the derivatives drop-down menu, which is still available on the global version. According to local news publication La Información, the move to hide derivatives offering in Spain comes as a way to comply with the requirements set by CNMV, a.k.a. the National Securities Market Commission....
Binance commits $500M to co-invest in Twitter with Elon Musk
Major crypto exchange Binance has participated in Elon Musk’s $44 billion acquisition of Twitter, according to data filed with the United States Securities and Exchange Commission. On May 5, Musk filed an amended general statement of the acquisition, announcing that Twitter received an aggregate of about $7.2 billion in new financing commitments in connection with the merger agreement, subject to the conditions in co-investor equity commitment letters. According to the document, Binance is one of 18 co-investors in the acquisition alongside major crypto industry players like Sequoia Capital Fund and Fidelity Management and Research Company. Having invested $500 million, Binance is the fourth biggest contributor, following Lawrence J. Ellison Revocable Trust, which invested $1 billion. Sequ...
France’s financial authority approves Binance’s registration as digital asset service provider
The Autorité des Marchés Financiers (AMF), France’s authority responsible for regulating the financial market, has granted Binance’s registration to provide crypto-related services in the country. In a Wednesday update, the AMF included Binance France SAS in its list of registered digital asset service providers in France. The registration was a step toward allowing the crypto exchange to provide crypto-related services in France including custodying assets, exchanging digital assets for other tokens or legal tender, and operating a digital asset platform. According to the AMF, registration requires checks to ensure “good repute and competence of the managers and beneficial owners” as well as compliance with regulations on anti-money laundering and combatting the financing of terrorism. Bi...
Binance to drive crypto and blockchain awareness among Indian investors
Crypto exchange Binance announced the parallel launch of three key educational initiatives to fast-track educating Indian investors and students about the cryptocurrency and blockchain ecosystem. While recognizing the importance of investors’ awareness of crypto and blockchain, Binance highlighted that Indian regulators and policymakers cite the lack of education as an area of concern, which currently hinders the widespread adoption of crypto. Primarily targeting the student demographic in India, one of the three educational initiatives launched by Binance involves the initiation of the ‘Blockchain for Good’ Ideathon, a platform for college students to come up with solutions for making crypto more accessible and inclusive. Binance also partnered with India-based crypto influencers and educ...
Coinbase lists Binance USDC and also adds support for ROSE
Coinbase, one of the leading crypto exchanges in the US, announced that it has listed trading pairs of Binance USD (BUSD) and Binance. Besides, On April 11 Coinbase published the list of the top 50 tokens that it was targeting to list during the Second Quarter (Q2) of 2022. Binance USD, a stablecoin that was issued by its greatest competitor Binance and also the fourth largest Stablecoin by market capitalization, was among the tokens to be listed in Q2. Following its listing on Coinbase, BUSD has become the eighth stablecoin to be offered by one of the leading exchanges. However, Coinbase noted that BUSD will not function in its native Binance Chain (BSC) but as an ERC-20 token on the Ethereum (ETH) network. In addition, the exchange also warned its users against sending their assets...
