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Binance’s new self-custodial crypto wallet will be tied to the exchange’s infrastructure, and users won’t be able to export private keys. Cryptocurrency exchange Binance has become the latest company to roll out its non-custodial crypto wallet as its market volume share has weakened in the last three months. In a press release on Nov. 8, Binance said it has developed its solution dubbed “Web3 Wallet” in partnership with the product and engineering team at Trust Wallet. It is worth noting that Binance acquired this cryptocurrency wallet in July 2018. Shortly after the news on the solution broke, Trust Wallet’s native token TWT plunged by more than 10% down to $1.45, according to CoinGecko. TWT price | Source: CoinGecko Although Trust Wallet helped Binance develop the wallet , control over Web3 Wallet’s Features , such as operations and services, will be autonomously controlled by the exchange only. According to the press release, Bin...

Israeli authorities have reportedly requested information on over 100 crypto accounts in addition to the ones already blocked by Binance. Crypto exchange Binance is said to have blocked 100 more accounts related to Hamas, a militant group supported by a robust sociopolitical structure inside the Palestinian territories. Financial Times reports, citing sources “familiar with Israel’s enforcement actions,” the move was requested by the Israeli authorities. Israel has also requested information on up to 200 additional crypto accounts . While the scope of the request is not clear, it is said that most of the accounts “are held on Binance.” In a commentary to the Financial Times, a spokesperson for Binance confirmed that the exchange had blocked a “small number” of accounts but noted that restrictions have been implied since summer 2023 and added that it “follows internationally recognized sanctions rules.” You might also lik...

A transfer of 6,000 Maker (MKR) tokens, valued at more than $8.4 million, has been moved from the Binance cryptocurrency exchange to an unknown wallet.  Crypto whales accumulate MakerDAO On Oct. 15, a transfer of 6,000 Maker tokens — equivalent to $8,486,455 — occurred, according to Whale Alertas. The tokens were moved from Binance, one of the leading cryptocurrency exchanges, to an unidentified wallet shrouded in mystery. In recent months, data regarding Maker has shown a series of notable deposits, swaps, and accumulations conducted by prominent players in the cryptocurrency space.  Among them is MakerDAO’s co-founder, Rune Christensen, who has been making waves with his strategic moves.  Rune Christensen acquired 1,613 MKR by swapping a substantial 1.61 million DAI at an average price of $998.2 per MKR. He also removed 300.7 MKR and 305.8K DAI from the Uniswap liquidity pool, signaling a calculated shift in his holdings. 6,000 #MKR (8,486,455 USD) transfer red...

Michael Lewis's book 'Going Infinite' reveals that CZ and SBF had different goals when the first collaborative business opportunity arose in 2019. Binance CEO Changpeng Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman Fried for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book “Going Infinite.” According to the book, SBF proposed a futures exchange with “zero risk” for the exchange in case of bad trades with high leverage. Traditionally, a futures exchange allows traders to leverage funds against a small collateral, and the exchange often asks traders to increase collateral in case the trade starts to go bad. However, in crypto, the price swings could be fast and significant which could leave exchanges with bad debts due to lack of collateral. However, FTX wanted to create a futures exchange that would monitor the trader’s activity and, as soon as the trade surmounted the collateral, would liquidate the us...

Paradigm pointed out that the SEC is attempting to use the concerning accusations in its complaint as a means to alter the law, all without adhering to the established rulemaking process. Paradigm, a crypto venture capital firm, has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in their current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm pointed out that the SEC is attempting to use the concerning accusations in its complaint as a means to alter the law, all without adhering to the established rulemaking process. Paradigm firmly believes that the SEC is exceeding its regulatory boundaries, and we strongly oppose this tactic, they further stated. Back in June, the SEC initiated a legal action against Binance, accusing them of multiple violations of securities laws, such as operating without the necessary registration as an exchange, broker-dealer...

On Sep. 28, Binance CEO Changpeng Zhao said some former Binance Russia employees and the Commonwealth of Independent States might be integrated into the CommEx team. Zhao mentioned that this move aims to make the transition of Binance users to CommEx as smooth as possible in the region. CommEX’s platform, APIs, and Features are designed to closely resemble Binance to ensure a familiar experience for users. Some answers about Binance/CommEx. There will be crypto transfers between Binance & CommEx as users migrate with their funds. There are also older transactions during the testing phase of the integrations. This is expected. A few ex-Binance CIS team members may join their team,… — CZ Binance (@cz_binance) September 28, 2023 As part of the acquisition agreement, CommEX has committed to implementing blocks based on IP addresses and customer verification to avoid serving users in the U.S. and EU. Zhao also clarified that he doesn’t have any ownership stake...

Binance US, the American subsidiary of the crypto exchange giant, has laid off 100 employees, or a third of its staff , following the departure of its CEO. Bloomberg reports that the former CEO, Brian Shroder, who joined Binance in September 2021, will be temporarily replaced by Norman Reed, the Chief Legal Officer. Binance said that the SEC’s actions against the crypto industry have affected its business and threatened U.S.-based jobs and innovation. As a result, the company has laid off a third of its staff . Shroder’s exit is the latest in a series of resignations by high-profile executives from Binance, facing regulatory challenges in the U.S. and other countries. You might also like: Binance Russia execs leave amid ongoing rumors of market exit Binance US regulatory challenges Binance, one of the world’s largest cryptocurrency exchanges, is under investigation by the US Securities and Exchange Commission (SEC) for possible violations of securities laws. The SEC has...

“Mad Money” host Jim Cramer says he’s bullish on Binance and its BNB token, even as the crypto exchange faces regulatory hurdles and liquidity concerns. Jim Cramer, the American television host renowned for his financial acumen, has taken a bullish stance on Binance and its native cryptocurrency, BNB. Known for his CNBC program “Mad Money,” Cramer’s endorsement comes when the crypto exchange is grappling with regulatory challenges and market turbulence. Jim Cramer just turned bullish on #Binance Is Binance next? pic.twitter.com/OJNKBm9xx5 — Crypto Rover (@rovercrc) September 5, 2023 Jim Cramer’s controversial market influence Jim Cramer is no stranger to controversy, but his sway in financial circles is unquestionable. Whether seen as a financial sage or a high-risk gambler, Cramer has a history of market predictions defying expectations.  In crypto, his predictions have often gone in the other direction. Earlier this year, he cautioned users to ge...

Binance CEO Changpeng Zhao (CZ) has addressed recent rumors about employee departures in a tweet on June 7. He clarified that the reasons given for the departures were unfounded while pointing at the growth of the company and talented individuals it has attracted over the years. 4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong. As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months… — CZ Binance (@cz_binance) July 6, 2023 Binance has grown from a team of 30 to 8,000 employees in just six years, establishing itself as a major player in the crypto exchange industry. CZ, the exchange’s CEO, acknowledged the contributions of former team members and stressed the importance of user security. You might also like: https://crypto.news/binance-ceo-changpeng-zhao-predicts-bitcoin-bull-run/ Departures...

Binance Pay In LATAM Binance Pay, a leading global cryptocurrency payment platform, will integrate seamlessly with Credencial Payments’ existing infrastructure, enabling merchants to accept digital currencies effortlessly. advertisement With the integration of Binance Pay, businesses in LATAM will gain access to a wide range of supported cryptocurrencies, empowering their customers to make real-time payments using their preferred digital assets. Credencial Payments will handle the necessary conversions into local fiat currencies, ensuring a smooth transaction experience for all parties involved. Inflation, cross-border payments, assets tokenization and nonfungible tokens (NFTs) were among the major drivers for crypto adoption across Latin America in 2022. They made up 9.1% of the global crypto value received in 2022. Brazil’s central bank will test its CBDC this year and release to over 200 million people in 2024. Crypto Adoption In LATAM ...

Just a day after Binance , the Securities and Exchange Commission (SEC) has charged US Crypto exchange Coinbase for allegedly violating federal securities law. The SEC warned Coinbase that it could soon sue back in March, when it issued a Wells Notice. In its lawsuit issued on Tuesday, Coinbase is accused of operating an unregistered broker, exchange, and clearing agency. The complaint says the firm “never registered with the SEC” to provide these functions, “thus evading the disclosure regime that Congress has established for our securities markets.” The firm’s listed tokens along with its Prime, Wallet, and staking products were identified by the SEC as alleged violations of securities law. Coinbase is accused of knowingly listing high risk assets that “had the characteristics of securities,” the lawsuit added. “To realise exponential growth of the Coinbase Platform and boost its own trading profits, Coinbase made the strategic business decision to add Crypto assets to the Coin...