- 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.
- Changpeng Zhao, CEO of Binance, is determined to sever all ties with the U.S.
- Zhao has reportedly pushed to shut down Binance.US, the American branch of the global exchange.
- This decision highlights Zhao's commitment to preserving the reputation of Binance, the world's largest exchange.
- Binance.US declined to comment on the matter.
Main topic: Checkout.com terminates its relationship with Binance, citing regulatory concerns and inquiries from partners.
Key points:
1. Checkout.com, a credit card payments processor, has stopped servicing Binance, the world's largest crypto exchange.
2. The termination was based on reports of regulatory actions, concerns over Binance's anti-money laundering and compliance controls, and inquiries from partners.
3. Binance disagrees with Checkout.com's basis for termination and is considering legal action.
Additional hint on Elon Musk: This passage does not mention Elon Musk.
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.
Binance Pay has launched in Brazil, partnering with local businesses to accept cryptocurrencies such as SHIB, Bitcoin, and XRP, which has led to increased adoption of these major cryptocurrencies in the country's financial landscape.
Cryptocurrency exchange Binance will suspend its crypto debit card services in Latin America and the Middle East without providing a specific reason, impacting less than 1% of users in those regions.
Mastercard and Binance will terminate their crypto card programs in several countries from September 22.
Binance, the largest cryptocurrency exchange, has contacted low-liquidity token projects to enhance their liquidity protection by requesting details about their market makers and asking if they would contribute tokens to Binance savings pools.
Summary: Coinbase and Circle have dissolved the Centre Consortium due to regulatory clarity issues surrounding stablecoins, with Coinbase taking an equity stake in Circle and Circle assuming enhanced responsibilities for the USD Coin (USDC) stablecoin; Binance.US partners with MoonPay to use Tether (USDT) as its new "base asset" for transactions, while Binance faces challenges with fiat withdrawals in Europe; Shopify now accepts USDC payments on its platform, and Solana Pay plans to add additional altcoins; China launches a blockchain-powered data exchange with over 300 participating enterprises.
Despite facing regulatory challenges and speculation about its future, the analysis of Binance's Bitcoin exchange reserves suggests that it is not experiencing a bank run like FTX did in 2021.
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 has achieved a significant milestone with its integration of the Bitcoin Lightning Network, as its lightning node is growing rapidly and currently ranks 14th in terms of capacity on the network, with users actively utilizing it for their Bitcoin transactions.
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.
Major financial players Mastercard and Visa distancing themselves from Binance raises suspicions of a potential impending criminal prosecution, following ongoing speculation of a DOJ indictment.
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.
Binance CEO, Changpeng Zhao, remains confident in the face of regulatory challenges, stating that Binance is a stronger company now and is ahead of the game in terms of regulatory compliance, despite recent lawsuits and scrutiny from regulators.
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.
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.
JP Morgan is reportedly developing a new blockchain-driven solution for cross-border transactions, leading to a surge in major cryptocurrencies, while Binance expands its zero-fee trading promotion to include currency spot trading pairs in Argentina, Brazil, and South Africa.
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 CEO predicts that DeFi will surpass centralized finance in the next bull run, while the US CFTC takes regulatory action against three DeFi protocols for alleged registration failures; a report from the Bank for International Settlements argues that pure DeFi has little use case in the real world due to the need for oracles; Binance is refunding $1 million to users over a token incident, and the Shiba Inu ecosystem's layer-2 network, Shibarium, has reached over one million wallets but has yet to impact the price of SHIB token.
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 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 Brian Shroder leaves as the crypto exchange downsizes its workforce due to regulatory pressures, including a lawsuit from the SEC.
Binance.US is accused by the SEC of not cooperating in a probe and violating federal securities law by using a custody provider provided by its international arm, but the exchange claims that regulators are on a "futile fishing expedition" and asserts that customer assets are safe.
Binance.US faces continued legal struggles with the SEC, with accusations of noncooperation and low trading volume, while India works on crypto regulation and EU lawmakers vote in favor of a cryptocurrency tax reporting rule. Additionally, U.S. Representative Tom Emmer and co-sponsors reintroduce the CBDC Anti-Surveillance State Act to protect financial privacy.
A small number of Binance users in Europe are unable to withdraw euros due to the upcoming end of support from the exchange's regional payments provider, Paysafe, which claims that Binance is responsible for customer-facing issues.
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.
Cryptocurrency exchange Binance plans to delist stablecoins in the European market by June 2024 to comply with MiCA regulations, potentially impacting the market in Europe compared to the rest of the world.
