- 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.
The hacker who stole $570 million from Binance last year had a portion of their stolen funds liquidated after the Venus community voted in favor of a governance proposal enabling the liquidation, and the attacker's position was manually liquidated for $52.3 million when the price of Binance Coin dropped.
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.
Bitcoin and Ether rose over 3% to reach their highest prices in a week, while Solana, NEAR, Cardano, Polkadot, and Binance's altcoins also experienced gains, following a surge in traditional markets; however, experts predict that the downtrend in digital assets may continue for the next few weeks.
BNB, the cryptocurrency linked to Binance, dropped to a one-year low of $204 due to regulatory scrutiny, including allegations that Binance helped Russian users move money abroad and rumors that they are selling bitcoin to support BNB's price, while a distressed BNB-secured loan and a potential liquidation added to the token's downward pressure.
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.
Binance experienced a rapid withdrawal of $150 million worth of Bitcoin in one minute, indicating potential factors such as security, investment strategy, or preparation for a major transaction, while also raising speculation about market moves and potential illicit activities.
The US SEC has filed lawsuits against Binance and Coinbase, accusing them of various regulatory violations, leading to intense discussions about cryptocurrency classification as securities and causing a negative impact on the prices of many altcoins mentioned in the lawsuits.
Binance faces scrutiny over SEPA concerns, market manipulation allegations, and sanction violations, while regulators crack down on crypto-related crimes; meanwhile, scams and allegations of insider trading plague the crypto industry.
Binance, the world's largest crypto exchange, has banned Russia-based users from trading in all currencies except the ruble due to a U.S. Justice Department investigation into possible violation of financial sanctions on Russia.
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.
Bitcoin's trading volume has reached its lowest level in four years, with investors waiting for reasons to reenter the market, as the price of bitcoin remains up 57% for the year but has struggled to rebound from its recent decline.
Bitcoin's spot trading volumes for the current quarter have been significantly lower compared to previous quarters, potentially indicating a decline of around 14% month over month, while Ethereum's trading volumes are also at a level not seen since 2019, suggesting a similar trend for the cryptocurrency.
Hundreds of millions of dollars worth of crypto assets have been liquidated as Bitcoin's price falls below $26,000, with the majority of the liquidations coming from exchanges such as OKX, Binance, and ByBit.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
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.
Aggregate crypto spot and derivatives trading volume declined by 11.5% to $2.09 trillion in August, with low spot-trading volume and fluctuations in derivatives open interest indicating a speculation-driven market, while Binance maintained its top position despite a decrease in market share.
Despite Visa's announcement and warnings from Binance's CEO, major cryptocurrencies such as Bitcoin and Ethereum are struggling in a bearish trend while a top Federal Reserve official expresses deep concern over the $120 billion stablecoin market.
Binance has seen the departure of 10 key executives, Nasdaq has received approval to trade AI-based orders, former FTX CEO Sam Bankman-Fried's bail has been denied, and Grayscale has asked the SEC to discuss the conversion of its Bitcoin fund to an ETF; Bitcoin is at $25,871, Ether is at $1,635, and XRP is at $0.50.
The top crypto exchanges in the world are dominating the market, with the eight largest platforms accounting for over 91% of market depth and 89% of trading volume, according to crypto insights firm Kaiko. Binance remains the leading exchange, with a market share of 64.3% in 2023, but liquidity is concentrated within a few exchanges, leading to concerns about decentralization. Altcoin liquidity has also suffered due to regulatory issues in the US, with Coinbase, Kraken, and Bitstamp holding the majority of altcoin liquidity.
Binance.US CEO Brian Shroder leaves as the crypto exchange downsizes its workforce due to regulatory pressures, including a lawsuit from the SEC.
The US Securities and Exchange Commission (SEC) has accused Binance US of a "lack of transparency" and "discovery failures" in a new filing, amidst an ongoing court case and several executive departures from the cryptocurrency exchange.
Trading activity on Binance.US has reached new lows in September, with exchange volume dropping significantly amidst executive departures and ongoing regulatory scrutiny.
Bitcoin (BTC) briefly surpassed $27,000 before experiencing a 2% drop, resulting in liquidations of approximately $100 million in leveraged trading positions, with short traders suffering $60 million in losses and long traders experiencing $40 million in losses.
The volatility in Bitcoin remains low, similar to the stability in US stock and bond markets, and is expected to continue after the Federal Reserve rate decision.
The filing from FTX's bankruptcy estate reveals that Sam Bankman-Fried's father, Joe Bankman, was paid a $200,000 salary by FTX's US division but expected to receive $1 million annually.
Binance's Bitcoin trading volumes have decreased significantly due to lawsuits and regulatory scrutiny, while Coinbase's volumes have increased.
TON coin has replaced Solana's SOL token as the 10th largest cryptocurrency by market capitalization.
Binance and its CEO, Changpeng Zhao, have filed a motion to dismiss the lawsuit brought against them by the SEC, arguing that the agency exceeded its authority and failed to provide clear guidelines for the cryptocurrency sector.
Coinbase is looking to diversify its revenues, but for now, it remains heavily reliant on Bitcoin trading.
Bitcoin trading volume has significantly decreased, reaching levels not seen since 2018, as traders navigate macroeconomic uncertainty and fear of a possible recession caused by US economic policy.
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.
Crypto exchange Binance, along with the US government and Thai police, has helped dismantle a multi-million-dollar crypto scam in Thailand that targeted novice traders with fake investment platforms, resulting in the arrest of five principal members and the seizure of assets worth $277 million.
Binance's spot market share has continued to decline amid ongoing regulatory issues in the United States, with its market share dropping from 38.5% in August to 34.3% in September, according to analysis from CCData.
Cryptocurrency investment products experienced inflows of $78 million for the second consecutive week, with volumes of crypto exchange-traded products reaching $1.1 billion and Bitcoin volumes rising by 16%, according to CoinShares.
Coinbase's spot trading volume has dropped by over 50% in Q3 2023, indicating a shift in interest in cryptocurrency trading, while gaining market share as competitor exchanges face increased regulatory scrutiny.
Coinbase's spot trading volume dropped by 52% in Q3 2023 compared to the same period in 2022 due to Bitcoin's stagnant price and trading range, but a breakout may be imminent with an upside bias due to the lack of a dip below $25,000 in recent months.
Major crypto disasters in the past two years include SEC scrutiny of Binance, the collapse of FTX, bankruptcy filings from Celsius, BlockFi, Genesis, and Three Arrows Capital, and a $100 million settlement for Coinbase with New York regulators.
Crypto exchange Binance has burned over $450 million worth of BNB tokens, permanently reducing the circulating supply and increasing value for holders.
Binance experienced a decline in liquidity and a crash in its ask depth after a false report of BlackRock's spot ETF approval, causing traders to face difficulties in buying and selling bitcoin compared to Kraken and Coinbase.
Binance experienced a decline in liquidity and a decrease in ask depth after a false report of BlackRock's spot ETF approval, causing traders to face slippage and lose money, while exchanges like Kraken and Coinbase performed better due to their market makers' relative sophistication.
Coinbase's trading volumes in the US have weakened more than expected, falling around 17% sequentially and 52% YoY, which could put its consumer take rate at risk due to increased competition and regulatory challenges, according to a research report by Berenberg.
