GMX jumped to as high as $60 from around $40, data on crypto price tracker CoinGecko shows, the highest since January, when the price hit $62. The token has since pared some of its gains, changing hands at $48 at press time. Trading volume exploded, reaching $150 million in the last 24 hours, almost 20 times larger than the previous day, CoinGecko data shows. Author: Krisztian Sandor Source link
Changpeng “CZ” Zhao-led crypto exchange Binance has opened up two offices in Brazil as the firm looks to tap the country’s emerging crypto market, with reportedly more than 34.5 million crypto users there. According to an Oct. 3 announcement, Binance has now opened offices in São Paulo and Rio de Janeiro, with more than 150 employees to be spread across the firm’s operations in Brazil. “The exchange operates in full compliance with the Brazilian regulatory landscape and believes that regulation is the only way for the digital asset industry to…
BNB price creates mixed feelings on the high timeframe as price forms a descending triangle on the daily chart while an ascending triangle forms on the weekly chart. BNB looks more stable as the price aims to flip the $340 resistance to set up a bullish sentiment. The price action of the Binance Coin (BNB) continues to look strong despite the price forming a bilateral chart pattern on the daily and weekly timeframe. Surprisingly Bitcoin (BTC) movement in a range has had little effect on the price of Binance Coin…
When it comes to the decentralized world of crypto, few single entities loom larger or carry more weight in the industry than exchange behemoth Binance. The blockchain giant processed $34 trillion in trading volume in 2021, it says, and the exchange shows few signs of resting on its laurels as it pursues bold new bets to diversify its business. At the forefront of these changes is Binance founder and CEO Changpeng Zhao. The leader, commonly known as “CZ,” has managed to cultivate a celebrity status in the crypto space rivaled…
Binance exchange has announced it is heavily involved in helping the victims of Contract Tech fraud from back in 2017/18 to recoup their lost funds. For the past couple of years, the digital currency ecosystem has been experiencing quite a lot of cybercrime activities, with most victims left to count their losses despite government intervention in some cases. In the case of Contra Tech, the United States government has helped recoup as many as 100,000 ETH tokens belonging to as many as 170,000 victims. As planned by the government, the…
The infamous collapse of the Terra ecosystem, which erased market prices of TerraUSD (UST) and LUNA tokens, continues to trouble anxious investors as co-founder Do Kwon, crypto exchanges and the community together tries to identify the best route for a sustainable price recovery. Most recently, Changpeng ‘CZ’ Zhao, the CEO of crypto exchange Binance, recommended a flat 1.2% trading tax on LUNC trades that could be burned to reduce the token’s total supply and improve its price performance. Addressing the community, CZ stated: “We will implement an opt-in button (on…
Jeremy Allaire, the co-founder and CEO of USD Coin (USDC) stablecoin issuer Circle, has responded to the Binance cryptocurrency exchange’s move to stop supporting USDC trading. The Circle CEO said on Tuesday that Binance’s upcoming changes could help make USDC the standard stablecoin rail between centralized exchanges (CEXs) and decentralized Exchanges (DEXs). Allaire thinks that the development is not only good for Binance but also an ultimate benefit to USDC utility and adoption. USDC has a higher market cap than BUSD and also enjoys a greater volume and usage outside of Binance’s…
Dubai-based cryptocurrency investment firm Cypher Capital has hired former Binance Labs head, Bill Qian, as its chairman, according to a report from The Information. Cypher Capital is a UAE-based venture capital firm that primarily focuses on investing in Token, blockchain and digital asset-related projects. Qian will oversee the management and operations of Cypher Capital as chairman. Bill Qian said: “Cypher Capital is primarily focused on investing in cryptocurrencies, which are popular among founders of blockchain startups because they give investors ownership of the technology without diluting the founder’s equity. There…
The biggest cryptocurrency exchange has received a regulatory license to operate as a digital asset service provider in France, Bahrain, Spain, and Dubai since 2022. The Astana Financial Services Authority, or AFSA, an independent financial services regulator in Kazakhstan, has allowed the country’s largest cryptocurrency exchange, Binance, to operate. AFSA announced Monday that it had granted Binance in-principle authorization to operate as a digital asset trading facility and provide custody services in the Astana International Financial Centre, a financial hub in Nur-capital Sultan’s city. Binance stated in a Monday blog…
Binance cryptocurrency exchange has just scored a big win as its Italian offshoot, dubbed Binance Italy, has received approval to operate in the country by the Organismo Agenti e Mediatori (OAM). With the new license, Binance can now work, and offer its products and services to Italians, marking the firm’s gradual influence growth in the European Economic Area (EEA). Back in 2021, several regulators around the world, including those from Italy warned Binance to stop offering exchange-related activities on their shores. With the restrictions from regulators and watchdogs mounting massively,…