Tag: Binance

Binance Scores Big Win as Newly Licensed Exchange in Italy

Godfrey Benjamin

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,…

Binance Bahrain Gets Category 4 License to Provide Crypto Trading Service

Nicholas Otieno

Binance, a global cryptocurrency exchange, announced on Thursday that its subsidiary in Bahrain has received a Category 4 license as a crypto asset service provider (CASP) from the Central Bank of Bahrain (CBB). According to the announcement, Binance Bahrain is the first exchange to be awarded a category 4 license by the CBB. The Category 4 license will allow Binance Bahrain to offer a full range of crypto trading services to consumers under the supervision of the Bahrain regulators. Richard Teng, Head of MENA at Binance, further elaborated: “The upgrade…

Binance CEO CZ to support Terra community but expects more transparency

Arijit Sarkar

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…

Binance suspends LUNA and UST trading amid issues on Terra blockchain

Gareth Jenkinson

Global cryptocurrency exchange Binance has suspended trading pairs with Terra ecosystem’s cryptocurrencies, LUNA and UST, on its platform following the major crash of the algorithmic stablecoin. Binance confirmed the move on May 13, with spot trading for LUNA/BUSD and UST/BUSD trading pairs being suspended. It’s not clear when the withdrawals for LUNA and UST will continue, as the crypto exchange simply stated that it will wait for the issues with the Terra network to be solved. It is the latest move by the world’s largest cryptocurrency exchange by trading volume following…

Binance suspends LUNA and UST withdrawals citing network congestion

Arijit Sarkar

As the crypto community still tries to decipher Terra’s ongoing pegging-depegging fiasco in relation to its stablecoin offering Terra USD (UST), major crypto exchange Binance announced the suspension of withdrawals for LUNA and UST until further notice on Tuesday.  The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a major selloff. At the same time, the BTC/UST trading pair on Binance reached highs of more than $42,000 while other Bitcoin dollar markets struggled to…

Binance Provides Blockchain Education to Francophone Africa, Narrowing the Financial Gap

Brian Njuguna

To offer lifelong financial and career development to French-speaking Africans, leading crypto exchange Binance is offering blockchain education in Cameroon and Francophone Africa. Binance has been carrying out multiple educational events to enlighten the French-speaking Africans about the opportunities rendered by the crypto space and how they can make a living from them.  The crypto exchange has already educated more than 541,000 Africans about cryptocurrencies and how to detect bad actors or scams since the Binance Masterclass Education Series was launched in January 2020. Per the announcement: “Through regular…

Binance to drive crypto and blockchain awareness among Indian investors

Arijit Sarkar

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…

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