Tag Archives: Binance

Changpeng Zhao – CEO Binance – agreed that the collapse of FTX has caused some panic in the space. He also reiterated that the fact that they were audited by a somewhat reputable firm caused others in that business to be more cautious when working with crypto businesses. He assured that Binance is in good financial standing, does not owe anybody money, and has never co-mingled clients’ funds. In a recent interview for CNBC, CZ said Binance coped with the recent customer...

Changpeng Zhao – CEO of Binance – said clients had withdrawn approximately $1.14 billion worth of crypto today (December 13) from the platform. The executive assured they handled the demand and that business continues to operate “as usual.” Zhao stated on Twitter that the recent withdrawal requests are not a black swan event, reminding that Binance has processed such an amount of transactions before, as also seen on the following chart by Nansen. Source: NansenThe CEO...

Iran is a sanctioned country. It’s not allowed to engage in certain activities unless the United States says so. Despite all this, popular digital currency exchange Binance still enabled the country to engage in crypto trades nearing $8 billion at press time. Binance Is Alleged to Have Aided Iran Almost all the trades occurred between Binance and Nobitex, a crypto exchange based in the Middle Eastern country. This data comes directly from blockchain analysis firm...

The Dubai-based platform announced the launch of a Merkle Tree-based proof-of-reserve system to enable users to verify their assets deposited into the exchange as well as Bybit’s holdings. The verification is available in both trading and funding accounts. Bybit said that the new feature will also allow verification of the exchange’s wallet ownership and that assets are held with a 1:1 ratio. “With the release of the Merkle Tree, Bybit has further demonstrated its robust...

Aligning with ambitious investment plans in the ongoing bear market, Binance Labs – the venture capital arm of the world’s largest crypto exchange – announced leading a private round II for GoPlus Security. The value of the investment has not been disclosed. The fresh capital infusion will be deployed to develop security data further, build a security service marketplace, and conduct new hiring for the Web3 security infrastructure provider. According to the official blog...

Binance CEO Changpeng Zhao (CZ) and ex-FTX boss Sam Bankman-Fried (SBF) traded barbs over Twitter on Friday as each contested the true nature of their private business dealings. During the exchange, Bankman-Fried asked CZ why he would “lie” about their situation, given he had already “won,” post bankruptcy. CZ’s Story CZ began with reference to Kevin O’Leary’s latest comments on FTX’s fallout.  In his interview with CNBC, the Shark Tank star suggested that FTX spent much of...

On December 8, Binance, the world’s largest cryptocurrency exchange, announced its partnership with Master Class, an online education platform, to launch a course on cryptocurrencies and blockchain for the “crypto-curious” audience. The class will be led by Binance’s CEO and founder, Changpeng Zhao (CZ), and is a joint effort between both entities to build a better ecosystem —and prevent new users from losing their money. The master class, called “Crypto and the Blockchain,”...

An independent global auditor has confirmed that all Bitcoin circulating on Binance – the world’s largest crypto exchange – is fully accounted for. The audit allows any user of the exchange to confirm the safety of their Bitcoin balance using on-chain data.  As verified by the Mazars Veriitas auditing service, Binance’s Bitcoin was 101% collateralized as of November 22nd. That means it holds Bitcoin slightly in excess of its liabilities/customer assets, which amount to...

Binance US – the American branch of the world’s largest crypto exchange – has eliminated all Ether (ETH) spot trading fees just six months after doing the same for Bitcoin (BTC) pairs on the platform.  The zero-fee model will expand free trading to the platform’s ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD pairs. In a press release shared with CryptoPotato, Binance US revealed that it will be consolidating its pricing tiers into a single tier in January 2023. Tier I assets will...

Changpeng Zhao – CEO of the world’s largest crypto exchange, Binance – rejected some of the latest assumptions regarding himself and his company’s involvement in FTX’s crash. He reiterated his position that the main culprit of the catastrophe was Sam Bankman-Fried (SBF), describing him as “one of the greatest fraudsters” of all time. CZ’s List Zhao took it to Twitter to dismiss some suggestions that hovered in the cryptocurrency space lately. He said he doesn’t see himself as...