Binance
Binance burns $1.8M in LUNC trading fees following community proposal
Cryptocurrency exchange Binance has announced it completed the first burn of Terra Classic tokens’ trading fees in response to a community proposal from September. In an Oct. 3 update, Binance CEO Changpeng Zhao said the exchange had burned roughly $1.8 million worth of Terra Classic (LUNC) — formerly Terra (LUNA) — trading fees for LUNC/BUSD and LUNC/USDT spot and margin trading pairs. According to Binance, the burn included the equivalent of 1,863,213.47 Tether (USDT) — roughly 5.5 million LUNC. First LUNC burn, $1.8 million ish.https://t.co/b86RlCYqe3 — CZ Binance (@cz_binance) October 3, 2022 The exchange’s original announcement from Sept. 26 said the burns would be completed every Monday — making the next event on Oct. 10 — sending trading fees to a LUNC burn address. Many in the Terr...
Binance signs MoU with Kazakhstan to fight financial crime
Global cryptocurrency exchange Binance has signed a memorandum of understanding (MoU) with the Financial Monitoring Agency of the Republic of Kazakhstan as a part of its global law enforcement training program. The program, which involves officials from regulatory and law enforcement organizations worldwide, aims to strengthen industry cooperation with national and international law enforcement in the fight against financial crime and cybercrime. The program further aims to identify and block digital assets obtained illegally and used to launder criminal proceeds and finance terrorism. Kazakhstan has emerged as one of the leading crypto nations for Bitcoin (BTC) mining and in recent times, the Central Asian nation has also beendeveloping favorable crypto regulations such as allowing crypto...
Binance launches New Zealand-based offices following regulatory approval
Global cryptocurrency exchange Binance has registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country. In a Sept. 29 tweet, Binance said it was registered as a financial service provider in New Zealand, allowing residents to access services including spot trading, nonfungible tokens and staking. The move to the crypto-friendly Pacific nation followed regulators in Dubai, Abu Dhabi, Kazakhstan and Italy giving the green light for Binance to open an offshoot. “New Zealand is an exciting market with a strong history of fintech innovation,” said Binance CEO Changpeng Zhao. New Zealand! We are kiwis. https://t.co/UtxbVlvXFV — CZ Binance (@cz_binance) September 30, 2022 New Zealand lawmakers and regulators have largely not imposed strict...
NFT space bridges passions for tennis legend Maria Sharapova
Tennis legend Maria Sharapova appeared at the Binance Blockchain Week Paris 2022 to share her interest in nonfungible tokens (NFTs). During an exclusive interview with Cointelegraph, Sharapova mentioned that “she is exposing herself to this new world of crypto and Web3,” noting that the sector will help her better engage with her fans. Sharapova was also one of the strategic investors behind MoonPay’s Series A financing round, yet she mentioned that she aims to bridge her personal experiences to the digital world moving forward. Maria Sharapova (right) with Cointelegraph senior reporter Rachel Wolfson (left) at Binance Blockchain Week Paris 2022. Source: Rachel Wolfson Cointelegraph: What are you doing here today at Binance Blockchain Week Paris? Maria Sharapova: I’m crypto curious and wou...
Binance Brings Crypto Futures Trading Back in South Africa
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3 reasons why USDC stablecoin dropping below $50B market cap is Tether’s gain
The market capitalization of USD Coin (USDC), a stablecoin issued by U.S.-based payment tech firm Circle, has dropped below $50 billion for the first time since January 2022. On the weekly chart, USDC’s market cap, which reflects the number of U.S. dollar-backed tokens in circulation, fell to $49.39 billion on Sep. 26, down almost 12% from its record high of $55.88 billion, established merely three months ago. USDC versus USDT weekly market cap chart. Source: TradingView In contrast, the market cap of Tether (USDT), which risked losing its top stablecoin position to USDC in May, crossed above $68 billion on Sep. 26, albeit still down 17.4% from its record high of $82.33 billion in May 2022. The divergence between USDT and USDC shows investors’ renewed preference...
Binance Creates Global Crypto Advisory Board with Representatives from Nigeria & SA
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FTX in talks with investors to raise $1B for further acquisitions — Reports
Sam-Bankman Fried’s crypto exchange FTX is reportedly engaged in talks with investors to raise $1 billion in new funding, as it looks to utilize extra capital for financial acquisitions during the bear market. According to a Sept. 21 report from CNBC which cites sources close to the matter, the talks are still ongoing and the details could still be subject to change. If found to be true, the funding amount would keep the FTX’s current valuation of roughly $32 billion intact. The potential $1 billion funding round would add to the $400 million FTX raised in January, and could signal strong investor faith in the firm despite the sector undergoing a lengthy crypto winter. Other details are sparse at this stage, however, the sources said some of the new funds would be put towards m...
Binance Goes on a Crypto Education Tour Across Francophone Africa
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BNB Chain launches a new community-run security mechanism to protect users
BNB Chain, the native blockchain of Binance, has launched AvengerDAO, a new community-driven security initiative to help protect users against scams, malicious actors and possible exploits. The security-centric decentralized autonomous organization (DAO) has been developed in association with leading security firms and popular crypto projects such as Certik, TrustWallet, PancakeSwap and Opera, to name a few. The AvengerDAO security initiative mainly consists of three major components, namely a passive API system called Meter, a subscription-based alert system called Watch, and a programmable fund management system called Vault. When a user on the BNB Chain interacts with any applications or counterparties, AvengerDAO adds an additional layer of security. The Meter API system fetches s...
Binance partners with Ukrainian supermarket chain to accept crypto through Pay Wallet.
Binance announced Friday that it has partnered with the Ukrainian supermarket chain VARUS, saying it will enable cryptocurrency payments for grocery purchases through its Binance Pay Wallet. The grocery store is one of the largest companies in Ukraine with over 111 stores across 28 cities in the country. The company said that this partnership will allow its customers to access instant cryptocurrency payments and fast delivery in 9 cities in Ukraine, namely; Kyiv, Dnipro, Kamianske, Kryvyi Rih, Zaporizhzhia, Brovary, Nikopol, Vyshhorod, and Pavlograd. The companies have also announced a “reward fund promotion”, where customers who order anything from the VARUS Delivery program worth over UAH 500 and pay with Binance Pay, will be rewarded with UAH 100. A month ago, a Ukrainian POS...
3 major mistakes to avoid when trading cryptocurrency futures markets
Many traders frequently express some relatively large misconceptions about trading cryptocurrency futures, especially on derivatives exchanges outside the realm of traditional finance. The most common mistakes involve futures markets’ price decoupling, fees and the impact of liquidations on the derivatives instrument. Let’s explore three simple mistakes and misconceptions that traders should avoid when trading crypto futures. Derivatives contracts differ from spot trading in pricing and trading Currently, the aggregate futures open interest in the crypto market surpasses $25 billion and retail traders and experienced fund managers use these instruments to leverage their crypto positons. Futures contracts and other derivatives are often used to reduce risk or increase exposure and are not r...
