Binance
Binance obtains in-principle approval to operate in Kazakhstan
The Astana Financial Services Authority, or AFSA, an independent financial regulator in Kazakhstan, has taken a step towards licensing major cryptocurrency exchange Binance to operate in the country. In a Monday announcement, AFSA said it had granted in-principle approval toward Binance operating as a digital asset trading facility and providing custody services in the Astana International Financial Centre, a financial hub in the capital city of Nur-Sultan. In a Monday blog post, Binance said it was required to complete the application process for approval, which the crypto exchange expected to do “in due course.” According to AFSA CEO Nurkhat Kushimov, the move toward granting Binance a license to operate in Kazakhstan could lead to the development of a “vibrant ecosystem of digital asset...
Only 50 or so profiles out of 7,000 Binance employees on LinkedIn are real, says CZ
According to a Sunday Twitter post by Binance CEO Changpeng Zhao, also known as CZ, only about 50 out of 7,000 users claiming to be employees of the world’s largest cryptocurrency exchange on Linkedin are real. The crypto executive lamented the lack of a real-ID authentication system on Linkedin, saying: “I wished LinkedIn had a feature to let the company verify people. So, many “hey, I am responsible for listing” scammers on LinkedIn. Be careful.” The LinkedIn crypto scam typically begins as an unsolicited request from an apparent crypto exchange executive to project stakeholders regarding a potential token listing. Profiles are cleverly crafted to show years of experience in the industry, along with, multiple connections, sometimes up to 500-plus, to derive ...
Crypto Firm Binance Chooses New Leader for its South African Business
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit “Cookie Settings” to provide a controlled consent.
Pandas, cyborgs, dogs, koalas dominate BNB Chain Red Alarm flag list
BNB Chain, a blockchain network created by crypto exchange Binance, identified over 50 on-chain projects that pose a significant risk to the users. A mix of crypto spin-offs resembling Dogecoin (DOGE) and Binance and others dedicated to pandas, cyborgs and koalas made the list as untrustworthy and high-risk projects. BNB Chain’s Red Alarm feature, which was implemented to protect investors from potential rug pulls and scams, flagged projects based on two main criteria — if the contract performs differently from what the project owners advertised or if the contract shows risks that might influence users’ funds. Speaking to Cointelegraph, Gwendolyn Regina, Investment Director at BNB Chain, said that the Red Alarm system analyzed 3,300 contracts just in July, adding that the company con...
Shiba Inu eyes 50% rally as SHIB price enters ‘cup-and-handle’ breakout mode
Shiba Inu (SHIB) broke out of its prevailing “cup-and-handle” pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks. Shiba Inu could soar 50% A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level. Typically, cup-and-handle patterns resolve after the price breaks above the resistance level; SHIB did the same on Aug. 14 after rising 27% to $0.000016, as shown below. SHIB/USD daily price chart. Source: TradingView Per the rule of technical analysis, a cup-and-handle breakout target is determined by measuring the distance between the pattern’s lowest point and resistan...
Binance sides with Indian regulators in WazirX fallout to cease support for off-chain transfers
As reported by local news outlet The Economic Times on Monday, Binance is scheduled to remove off-chain fund transfers with Indian cryptocurrency exchange WazirX on Thursday, although users will still be able to deposit and withdraw balances via the standard withdrawal and deposit process between the two exchanges. Three days prior, The Directorate of Enforcement of India alleged that WazirX “actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route” and subsequently froze $8.1 million in bank balances related to the exchange. Simultaneously, there is an ongoing controversy regarding whether Binance owns the exchange. Last Friday, Changpeng Zhao (CZ), CEO of Binance, said that Binance does not own any equity in WazirX...
Binance Card users now have access to XRP, SHIB and AVAX
Binance announced on Friday that its Binance Card now supports three new altcoins. Card users can now access their holdings of Ripple (XRP), Shiba Inu (SHIB) and Avalanche (AVAX). The Binance Card allows its holders to “convert and spend cryptocurrencies in over 60 million online and physical stores.” However, the card is only available to European citizens and, according to the website, Ukrainian refugees. Prior to the escalation of the conflict in Ukraine, Binance had intentions of expanding its card reach into Ukraine by sometime this year. With the latest addition, the card now supports 14 cryptocurrencies, including Cardano (ADA), Avalanche (AVAX), BNB, Bitcoin (BTC), Binance USD (BUSD), Polkadot (DOT), Ether (ETH), S.S. Lazio Fan Token (LAZIO), FC Porto Fan Token (PORTO),...
BNB rallies 39% despite smart contract deposits dropping 28% — Should investors be worried?
Cryptocurrencies’ total market capitalization bounced from $860 billion on June 30 to the current $1.03 trillion, a 20.6% relief in five weeks. Ether (ETH) might have been the absolute leader among the largest smart contract chains, but BNB managed to gain 39% over that period. BNB (blue) vs. Ether (orange), AVAX (cyan), SOL (yellow). Source: TradingView BNB token’s year-to-date performance remains negative by 43%, but the current $49.5 billion market capitalization ranks it the third largest, excluding stablecoins. Furthermore, the leading decentralized application (DApp) is PancakeSwap — 843,630 active addresses in the past seven days — which runs on BNB Chain. The token serves primarily as a utility asset within the Binance exchange ecosystem, enabling traders to earn discounts or ...
Binance and Mastercard will launch prepaid crypto cards in Argentina
Major crypto exchange Binance has partnered with Mastercard to launch a prepaid card for the residents of Argentina. In a Thursday announcement, Binance said the card will allow its clients in Argentina to use Bitcoin (BTC), BNB and other cryptocurrencies to make purchases as well as ATM withdrawals in fiat wherever Mastercard is accepted — roughly 90 million merchants globally and online. Argentine cardholders can also earn up to 8% back in cryptocurrency from certain purchases. According to Binance, the introduction of the card — expected to be “widely available in the coming weeks” — was part of the company’s efforts to further the global adoption of crypto. Residents of Argentina will be the first in the region to have access to the cards, but the crypto exchange announced a simil...
Binance US will delist AMP following SEC claim token is a security
United States-based crypto exchange Binance.US said it will be delisting the AMP token “out of an abundance of caution” of possible enforcement by federal regulators. In a Monday blog post, Binance.US said it will be closing deposits of Amp (AMP) and removing the AMP/USD trading pair on Aug. 15 following the token’s mention in a legal action from the U.S. Securities and Exchange Commission, or SEC. The federal regulator filed a complaint against a former Coinbase product manager and two individuals in July that claimed that AMP and eight other cryptocurrencies were “crypto asset securities” that fell under the SEC’s purview. “We believe that, in some circumstances, delisting an asset best protects our community from undue risk,” said Binance.US. “We operate in a rapidly evolvin...
Coinbase, Binance and Kraken under scrutiny: Law Decoded, July 25-August 1
Despite some good signs of the crypto prices recovery, last week could hardly be called bright for the market, as the major news came from the enforcers and not the regulators. According to a report from the New York Times, the United States Treasury Department’s Office of Foreign Assets Control (OFAC) has been investigating crypto exchange Kraken for allegedly allowing users based in Iran and other countries to buy and sell crypto in a potential violation of U.S. sanctions. In the other hemisphere, the Philippines’ think tank Infrawatch PH filed a twelve-page complaint calling on the local Securities and Exchange Commission (SEC) to crack down on Binance’s activities in the country. The news comes shortly after the Philippines’ Department of Trade and Industry (DTI) waved off a Bina...
Binance fined $3M over illegal operations in the Netherlands
Major global cryptocurrency exchange Binance is facing a penalty in the Netherlands after failing to obtain regulatory approval to operate in the country. The central bank of the Netherlands (DNB) has fined Binance Holdings 3.3 million euros ($3.3 million) for offering local crypto services without registration with authority. The Dutch central bank officially announced Monday that the regulator imposed the administrative fine in April 2022. The DNB pointed out that any company offering crypto services in the Netherlands is obliged to register with the central bank in compliance with the Money Laundering and Terrorist Financing Prevention Act. The regulator also mentioned that the DNB previously issued a public warning to Binance on Aug. 18, 2021. According to the announcement, the DN...
