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Tag Archives: Binance

Binance France Urges Users to Convert Fiat to Crypto

The global crypto exchange has been facing intense regulatory scrutiny. Most of its regulatory issues are in Europe Binance has urged customers in France to convert their fiat currency on the exchange to crypto. This comes on the heels of the crypto exchange losing its euro banking partner Paysafe. As part of the partnership, Paysafe provided Binance France with infrastructure for euro deposits and withdrawals via SEPA bank transfers. The companies announced the drawing end of their...

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Binance Exits Russian Market, Sells Business to CommEX

The new development comes a day after CommEX officially launched on September 26, 2023. Binance, the world’s largest cryptocurrency exchange, has exited the Russian market, selling its business operations to CommEX, a digital assets trading platform. While Binance did not disclose the financial terms of the deal, the company assured its Russian users that all their assets are safe and will be securely protected during the transition process, which is expected to span up to a year....

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Binance Returns to Belgium After Summer Hiatus

Earlier this summer, Binance was required to wind down operations in Belgium due to a warning from the FMSA, the country’s principal financial regulator. Previous Dispute With Regulator The FMSA’s warning was, according to the regulator, wholly unrelated to the legal dispute currently underway across the pond. Instead, the watchdog expressed concern over Binance’s practice of offering exchange services and hosting wallets in non-EEA countries – which opens the door to money...

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Binance Academy Notes 62% Increase in Usage Led by Learners from Emerging Markets

The platform’s usage is not limited to individual users but also extends to educational organizations. Global crypto exchange Binance’s open-access blockchain and crypto education platform Binance Academy has reported a 62% increase in the number of users.  According to platform data, from September 2022 to August 2023 there was a marked increase in individuals seeking crypto education. This brings the total number of individuals to use the platform to further their knowledge of blockchain...

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Binance Japan and MUFG Trust Bank Forge Partnership for New Bank-Backed Stablecoin

This partnership is also a significant stride in the Japanese government’s endeavor to embrace blockchain technology and cryptocurrencies, fostering their broader adoption within the country and beyond. Binance Japan is partnering with Mitsubishi UFJ (MUFG) Trust Bank, a move squarely aligned with the Japanese government’s new Web3 policy. This collaboration aims to birth a new stablecoin, and the chosen platform for its development is the Progmat coin platform, a proprietary asset of...

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El Salvador Grants Two BTC Licenses to Crypto Exchange Binance

Binance and El Salvador are joining hands to boost the nation’s long-running bitcoin agenda. The digital currency exchange – the biggest and most popular in the world – is garnering two separate licenses to operate in the Central American nation, thus bringing its total world licenses to 18. Binance Gains Ground in El Salvador The documentation was provided by the Central Bank of El Salvador, which is now permitting Binance to serve as a bitcoin services provider...

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Binance Hot Wallet Spends $840k Worth of Ether in Gas Fees: Data

Binance has seen immense activity on one of its Ethereum hot wallets in recent weeks. However, things got heated up on September 21st as a result of high on-chain activity by the Binance 14 wallet. The hot wallet, in question, spent an astonishing 530 Ether in gas fees, worth around $840k, in a span of just 24 hours. High Gas Fees Data from Dune Analytics’ dashboard suggested that the address processed 146,582 transactions during the same period. As a result, the gas fees on...

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Binance Brings New Compliance Executive Onboard

Binance – the largest and most popular digital currency exchange in the world – has hired a new deputy chief compliance officer (CCO) and global money laundering reporting officer. The positions will be taken over by Kristen Hecht, who according to a recent blog post, has more than 17 years of experience fighting both financial terrorism and illicit monetary activity. Binance Now Has Kristen Hecht Aboard Hecht expressed her excitement about the job in a recent...

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Former Alameda Engineer Exposes Firm’s Role in Bitcoin’s 87% Plunge in 2021

Aditya Baradwaj, a former engineer at the bankrupt cryptocurrency trading firm Alameda Research, has revealed that the company was behind bitcoin’s 87% plunge in 2021. Baradwaj explained the events that led to the sudden drop, saying the incident was a result of a work philosophy established by Alameda’s co-founder Sam Bankman-Fried (SBF), which maintained that the utility gained by moving fast outweighed the occasional costs paid due to a poor risk management system. Alameda...

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ImmutableX (IMX) Explodes 35% Daily: Here’s Why

The price of the native token of the layer-2 scaling solution Immutable X – IMX – has skyrocketed by over 35% in the past 24 hours. The reason behind the impressive increase remains unknown. However, Lookonchain observed that some investors had accumulated substantial amounts of the asset. IMX has recently jumped above $0.76, a valuation last seen at the beginning of August. The coin slightly retraced in the past few hours and currently stands at around $0.71 (per CoinGecko’s...

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