Changpeng

Crypto Market Trends – BUSD Launched a Crypto Recovery Fund

2023-4-6 The price volatility that has been experienced in the crypto sector since 2022 has shown the need for stablecoin issuers to hedge against their cryptocurrencies to avert potential disastrous eventualities such as implosions. Still, the market has a clear memory of the impact of the Terra USD crash on the crypto market in particular and the digital sector in general. This article discusses Binance’s initiative to introduce a recovery fund for its stablecoin Binance USD (BUSD). Binance to convert the recovery fund into a few cryptocurrencies Recently, Binance announced

Global Exchange Binance Releases Crypto Bill of Rights For Traders

Binance, the world’s largest crypto exchange, has released what they call the “10 Fundamental Rights for Crypto Users.” Running what Changpeng Zhao (CZ) says is Binance’s first advertisement ever, the exchange took up an entire page of London’s Financial Times with the words “CRYPTO IS EVIL.” Underneath the eye-catching phrase, Binance warns: “When it comes to crypto, Don’t let the headlines fool you. There’s a world beyond Bitcoin and Dogecoin, one where financial opportunity is accessible to everyone, not just the privileged few. Crypto belongs to all of us. But

Binance halts spot trading, fiat deposit services among others, in Singapore

dditionally, no user will be able to purchase cryptocurrencies through fiat channels and liquid swaps. The development comes after Binance made further changes to comply with the Monetary Authority of Singapore [MAS], by ceasing all related trades. Now, Binance has asked its Singapore users to withdraw fiat assets and redeem tokens by Wednesday, 26 October, 04:00 AM UTC to avoid potential trading disputes. Earlier this month, the country’s central bank had ordered Binance to stop soliciting trades for Singapore’s resident customers. Following this, the exchange had stopped offering SGD trading pairs

Singapore Monetary Authority Adds Binance to Investor Warning List

Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), has added Binance to its investor warning list, becoming yet another country to warn investors.Sponsored Sponsored The Monetary Authority of Singapore (MAS), the country’s financial regulator, has added Binance to its investor alert list. The list warns investors of companies or firms that “may have been wrongly perceived as being licensed or regulated by MAS.” This is similar to a warning issued by the U.K.’s Financial Conduct Authority. Bloomberg asked the MAS questions about the incident — and it may be

Binance U.S could realize its IPO dreams by 2024

Popular crypto-exchange Binance’s U.S. division could have an initial public offering by 2024, according to CEO and Founder Changpeng Zhao. In a recent interview, the exec noted, “Binance.US is just going to do what Coinbase did.” Here, it’s worth noting that Coinbase’s IPO was followed by lawsuits from Donald Ramsey and other investors. In fact, many of the latter have alleged the exchange made “materially misleading” statements during its IPO. As Coinbase continues to fight this charge, Binance may want to make sure that it covers its bases from regulatory

JP Morgan and Its Bitcoin Trading Service to Face Stiff Competition from Cryptocurrency Exchanges

Aug 10, 2021 at 10:28 // News JP Morgan is finally offering bitcoin investment options to its customers after years of aversion to crypto investing, and is reportedly promoting its bitcoin product to its retail customers. However, the bank should be prepared for competition from cryptocurrency exchanges and similar banks. Sceptic becomes a believer After JP Morgan Chase discovered the potential of cryptocurrencies, the bank added Bitcoin to the list of assets its clients can invest in. Everything JP Morgan is doing now in regards to Bitcoin has proven to

Malaysia Launches Enforcement Action Against ‘Illegally Operating’ Binance

In brief Malaysia's financial services regulator has taken enforcement action against Binance. The Securities Commission has said Binance is still operating illegally despite being listed on an alert list since July 2020. The Malaysia Securities Commission (SC) has today taken enforcement action against Binance for allegedly operating illegally in the country. The SC claims the crypto exchange is operating illegally as a Digital Asset Exchange, without the requisite registration requirements found in Sections 7(1) and 34(1) of the Capital Markets and Services Act 2007.  “Accordingly, the SC has issued a public

A classic case of short-term loss, long-term gain for Bitcoin and the crypto-sector?

Regulatory scrutiny has become an oft-visited issue in recent months, with countries all over the world stepping up their efforts to regulate the cryptocurrency ecosystem. Several arguments have been made in favor of, as well as against these steps, with some calling it an effort by traditional institutions to curb what doesn’t fall under their purview while others have hypothesized about the possible growth that regulations can bring. Those in favor of regulations were joined by Bitmain founder and former CEO Jihan Wu recently after he told CNBC that he

Unraveling the Blockchain and Crypto Gaming World One Click at a Time

Regular readers will no doubt be aware of the high expectations currently being placed on the shoulders of blockchain gaming. For advocates of blockchain technology, there is the hope that tapping into the estimated 2.5 billion gamers worldwide will provide a huge leap toward mainstream adoption.Blockchain and distributed ledger technology continue to make inroads into all kinds of industries as an increasing number of people discover and gain an understanding of the benefits that it can bring. From supply chain efficiencies through certification of authenticity and provenance to the immutable

Crypto Attorney Kyle Roche Discusses Class Action Lawsuit

Kyle Roche, a partner at law firm Roche Cyrulnik Freedman recently opened up about 11 class-action lawsuits against top crypto companies. The firm, alongside Selendy & Gay, has filed lawsuits against crypto exchanges as well as ICO tokens. Defendants include Tron, Status, Bancor, and Block.One alongside their executives.Bringing lawsuits against crypto head honchosThe 11 class action lawsuits follow the SEC’s guidance that ICOs are unregistered securities offerings in the US and all ICO issuers and exchanges must be registered with the SEC. The defendants in the case include Changpeng Zhao,

Binance CEO CZ: Stricter Regulations in Asia Will Lead to Consolidation of Crypto Exchanges

The fragmentation of the Asian market has brought about more rigorous scrutiny from financial regulations and this has led to a consolidation of many cryptocurrency exchanges according to a report on Wednesday. The report cited a decline in the number of Mergers and Acquisitions by 76% in 2019 and a good number of these transactions had involved exchanges and payment services. While the number of deals conducted in the US fell by 40%, those conducted in Asia rose from 14% to 22%. Binance leading the way Binance, the world’s largest