Tag: Binance

Binance Launches Ether-Based Liquid Staking Product WBETH to Rival Liquid Staking Competitors – Altcoins Bitcoin News

Jamie Redman

In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks of other competing liquid staking products such as Lido, Coinbase, Rocket Pool, and Frax. WBETH Emerges as Binance’s New Solution to Ethereum-Based Staking Liquid staking products based on Ethereum have been gaining popularity over the past two years. According to defillama.com metrics, as of this writing, there are over…

Japan FSA flags Binance, Bybit, others for operating without registration

Amaka Nwaokocha

In a warning letter released on Friday, Japan’s Financial Services Agency (FSA) said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration, violating the nation’s fund settlement laws. According to the warning letter, the FSA stated that the listed exchanges had breached Japan’s fund settlement regulations by conducting crypto asset exchange business without proper registration. The regulator clarified that the current list of unregistered traders may not accurately represent the current state of unregistered businesses.…

A spotlight on Binance, Galaxy Digital swings to profit, China’s blockchain push

Ana Paula Pereira

Regulators in the United States have a fresh target on their radar: Binance. The Commodity Futures Trading Commission (CFTC) has sued the world’s biggest crypto exchange by trading volume for regulatory violations. Accusations range from insider trading to concealing office locations around the world to evade authorities’ oversight.  Binance denies the claims, suggesting another court battle between crypto firms and U.S. regulators is just around the corner. On another front, Binance’s U.S. arm must wait to close its $1 billion deal for Voyager Digital’s assets until the Department of Justice…

Binance Replaces BUSD with TUSD and USDT in SAFU Fund

Luisa Crawford

Binance, one of the world’s largest cryptocurrency exchanges, announced on March 17 that it has replaced the Binance USD (BUSD) holdings in its Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT). The move comes in response to Paxos’ recent move to stop minting new BUSD, which has led to the asset’s market capitalization falling. SAFU is an emergency insurance fund established by Binance in July 2018 to protect users’ funds in case of security breaches or other unforeseen events. Binance committed a percentage of trading fees…

Binance Launches Joint Anti-Scam Campaign

Luisa Crawford

 Binance, one of the world’s largest cryptocurrency exchanges, has launched a new campaign aimed at preventing scams in cooperation with local law enforcement agencies. The initiative, called the “Joint Anti-Scam Campaign,” was first rolled out in Hong Kong and aims to help potential victims of scams avoid falling prey to fraudulent activity. As part of the campaign, Binance collaborated with the Hong Kong Police Force’s Cyber Security and Technology Crime Bureau to create an “alert and crime prevention message” for Hong Kong residents. When users attempted to make withdrawals, they…

Binance launches anti-scam campaign after Hong Kong pilot run

Tom Blackstone

Binance, in cooperation with law enforcement agencies, is launching a campaign to prevent scams by issuing targeted alerts to potential victims, according to a March 3 blog post from the company. The project, called the “Joint Anti-Scam Campaign,” was rolled out first in Hong Kong, and the company now intends to expand it into other jurisdictions. Keeping our ecosystem and the #Binance community safe is at the core of what we do. Which is why we partnered with law enforcement agencies across the globe to launch the Joint Anti-Scam Campaign.…

Binance ‘not planning any layoffs,’ 500 roles to be filled in H1

Luke Huigsloot

Cryptocurrency exchange Binance is “not planning any layoffs” and is instead trying to fill another 500 roles by the end of June, according to a Binance spokesperson. The comments came despite a huge spike in crypto layoffs in January — the majority of which were from crypto exchanges. In a statement, the Binance representative said:  “As of today, we are actively hiring for more than 500 roles with the goal of filling them by the end of H1 […] We are not planning any layoffs.” The spokesperson was responding to…

Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security – Altcoins Bitcoin News

Kevin Helms

Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following the news that the U.S. Securities and Exchange Commission (SEC) intends to take action against Paxos Trust Company over stablecoin Binance USD (BUSD), Binance CEO Changpeng Zhao (CZ) took to Twitter Monday to explain the…

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