Ad Binance CEO Changpeng “CZ” Zhao highlighted how Tether’s USDT has grown amidst the issues plaguing its rivals. In a March 21 tweet, Zhao described how Binance USD (BUSD) was forced to stop other mints despite being regulated by the New York authorities and audited by “big audit firms.” According to him, BUSD was “the most fiat-backed…
Binance said it is moving its zero-fee Bitcoin (BTC) trading from Binance USD (BUSD) to TrueUSD (TUSD) on March 22. In a March 15 statement, the exchange said BUSD’s zero maker fee would also exclude its pair with other assets like BNB and Ethereum. It added that standard trading fees would also apply to its…
Ad Binance CEO Changpeng ‘CZ’ Zhao has denied interest in purchasing the crypto media outlet, CoinDesk. In a March 14 tweet, Zhao denied Blockwork’s report that his exchange was trying to acquire the media firm through its CoinMarketCap subsidiary. According to Zhao, Binance is “not buying” CoinDesk because it does not fit its “geographic coverage.”…
Binance CEO Changpeng ‘CZ’ Zhao revealed on Nov. 14 that the exchange would launch an industry recovery fund to help strong projects in a liquidity crisis. To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details…
U.S. prosecutors have been probing Binance’s anti-money laundering compliance, operations, and internal communications since December 2020, Reuters reported on Sep. 1, citing people familiar with the investigation. The report said the U.S. Justice Department sent the exchange a letter requesting the exchange to voluntarily provide records of communication involving founder Changpeng Zhao and 12 other…
Binance has been fined €3.3 million by De Nederlandsche Bank (DNB) for offering unlicensed crypto services to the country residents. The Dutch regulator said it considered Binance’s failure to register with it under the Money Laundering and Terrorist Financing Prevention Act a “very serious” breach of the country’s law. According to the July 18 press statement,…
With a market cap of over $2 trillion, crypto has given birth to several billionaires since the first Bitcoin was mined. Although anonymity makes it difficult to determine who has what, a new report from Forbes has revealed some of the richest people in crypto and what they are worth. Topping the list is Binance…
The largest cryptocurrency exchange by trading volume, Binance, is planning to get funding from some global sovereign wealth funds for equity financing in its bid to improve its relationships with regulators around the world. Binance seeks funding from sovereign wealth funds In an interview with Financial Times, the CEO, Changpeng Zhao, who is currently the…
Binance battles with financial regulators around the world have been well documented with the crypto exchange forced to embrace a more friendly approach towards the demands of these regulators. Changpeng Zhao, the CEO of the company, in a recent interview with Bloomberg, revealed that this change of approach has aided the crypto company in retaining…