- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year.
- The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support.
- Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers.
- The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny.
- Binance.US had received a $4.5 billion valuation from investors last year.
- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year.
- The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support.
- Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers.
- The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny.
- Binance.US had received a $4.5 billion valuation from investors last year.
Binance customers in Europe are facing difficulties with fiat withdrawals due to issues with SEPA transfers, as the exchange has temporarily suspended euro withdrawals and deposits via SEPA while it works to resolve the problem.
Binance, the world's largest cryptocurrency exchange, caused confusion by mistakenly announcing on social media that euro transactions were no longer available, but it was clarified that euro transactions will continue until September 25th with Binance's banking partner in the region. However, the exchange is currently facing legal troubles and difficulties in various countries, making it challenging to find alternatives.
Binance US is reportedly reconsidering its decision to discontinue fiat on- and off-ramp services and is working on integrating new US dollar on-ramp solutions, potentially partnering with payment provider MoonPay to allow users to buy and sell cryptocurrencies in dollars.
The US Department of Justice (DOJ) is reportedly investigating whether cryptocurrency exchange Binance has violated US sanctions against Russia by facilitating ruble-to-crypto trades, adding to existing allegations of market manipulation and anti-money laundering violations, which could have significant implications for the broader cryptocurrency ecosystem.
Cryptocurrency exchange Binance is discontinuing its crypto-backed debit card service in Latin America and the Middle East, affecting less than 1% of its users in those regions, without stating a reason for the decision.
Binance has lost business with Mastercard and Visa as traditional financial institutions become wary of working with the cryptocurrency exchange due to regulatory scrutiny and concerns over compliance within the crypto industry.
Cryptocurrency exchange Binance has imposed restrictions on its peer-to-peer trading platform, banning Russian residents from using fiat currencies other than the Russian ruble and requiring Russian KYC verification and residency for ruble transactions, possibly in response to Western sanctions or new fiat currency restrictions imposed by the Russian government.
Binance, the world's largest cryptocurrency exchange, is considering a complete withdrawal from the Russian market due to complications and potential violations of Western sanctions.
Binance, the world's largest cryptocurrency exchange, is considering a complete withdrawal from the Russian market due to complications and potential violations of Western sanctions.
Crypto exchange Binance has announced plans to gradually wind down support for its Binance USD (BUSD) stablecoin, encouraging users to convert their holdings into other assets, including a newly listed stablecoin, First Digital USD (FDUSD). This decision aligns with Paxos' plans to end BUSD redemption by February 2024.
Cryptocurrency exchange Binance is experiencing the departure of two key executives in the Russian market, raising questions about the company's future in the region amidst regulatory challenges and potential sanctions.
Crypto exchange Binance is expanding its zero-fee trading promotion to include Argentine, Brazilian, and South African currency spot trading pairs, allowing users to trade bitcoin, ether, and Tether's USDT stablecoin without paying maker fees.
Binance, the world's biggest crypto exchange, announced that it will no longer support Polygon on its NFT marketplace as part of its efforts to streamline product offerings, stating that users should withdraw their NFTs by the end of the year.
Binance regional markets head Richard Teng asserts that despite regulatory scrutiny, the exchange is financially secure and distinct from bankrupt FTX, dismisses comparisons.
Binance.US CEO departs and workforce is reduced as the crypto exchange faces pressure from regulatory actions, while BitMEX launches a prediction market and FTX amends its crypto asset sale proposal.
Bitcoin trading volumes on Binance, the world's largest crypto exchange, have plummeted by 57% amid lawsuits and regulatory scrutiny, while competitor Coinbase has seen a 9% increase in volumes over the same period.
Crypto exchange Binance has reopened registrations and access to its products and services for Belgian users, three months after being ordered to cease cryptocurrency-related services by Belgium's finance regulator.
Binance, the world's largest cryptocurrency exchange, is selling its Russian operations and fully exiting the country due to potential violations of war-related sanctions and incompatibility with its compliance strategy.
Binance, the world's largest cryptocurrency exchange, is facing major staffing struggles and regulatory issues, with some calling for CEO Changpeng Zhao to step down. The company has experienced turbulence in the past, but its current challenges may indicate a dire situation.
Changpeng Zhao, CEO of Binance, denied being the owner of CommEX, the company that acquired Binance's business in Russia, following reports of a US Department of Justice investigation into sanctions violations; caution is signaled to bulls as the number of MKR tokens held in centralized exchanges has increased by 5%, potentially leading to price volatility; the European Commission has issued a contract seeking to mitigate the environmental impact of cryptocurrencies; credit card default rates have increased, suggesting decreased demand for risky assets like cryptocurrencies.
Crypto exchange Binance collaborates with law enforcement agencies to arrest key members of a criminal group involved in a crypto scam in Thailand, resulting in the seizure of $277 million worth of assets and over 3,000 victims coming forward to file compensation claims.
Major global cryptocurrency exchanges like Binance and OKX are working to comply with the United Kingdom's new financial promotion regulations to ensure fair and transparent crypto promotions, while some firms have been listed as "non-authorized" for promoting services without permission.
Binance's U.K. partner, Rebuildingsociety.com, is not allowed to approve crypto ads, according to the Financial Conduct Authority (FCA), potentially impacting Binance's compliance with new marketing rules.
Binance.US users can no longer withdraw dollars directly from the platform, instead they must convert funds to stablecoin or other digital assets to be withdrawn, as the exchange updates its terms of use amidst regulatory scrutiny from the SEC.
Cryptocurrency exchange Binance.US has updated its terms of service, indicating that direct withdrawals in USD are no longer supported, and users may need to convert their dollars to stablecoins or other digital assets to withdraw funds.
The U.S. unit of cryptocurrency exchange Binance has temporarily suspended dollar withdrawals from its platform, prompting customers to convert their funds into stablecoin or other digital assets for withdrawal.
Bankrupt crypto exchange FTX used customer funds to repurchase its stake held by competitor exchange Binance, according to court hearing testimony, with over $1 billion coming from customer deposits.
Binance, the world's largest crypto exchange, may face legal obligations to return over $1.2 billion in customer funds to the bankruptcy estate of FTX, as testified by an accounting professor during the trial of former FTX CEO Sam Bankman-Fried for fraud. While Binance's assets are not primarily located in the US, there are potential implications for the exchange's access to US markets and courts.
Crypto exchange Binance has onboarded new fiat service providers for euro payments, deposits, and withdrawals in Europe after its former provider halted services, offering EUR deposits and withdrawals via SEPA and EUR spot trading pairs.
Crypto exchange Binance has announced new partners to handle euro deposits and withdrawals for European users, months after losing its previous partner PaySafe in September.
Collapsed crypto exchange FTX is transferring $8.6 million in Ethereum, Chainlink, Aave, and Maker to Binance, indicating the beginning of a sale to repay creditors after going bankrupt, according to analysts.
