In an effort to support the recovery of the sector, Binance has pledged $2 billion to the company’s crypto rescue fund. Changpeng Zhao, the founder and CEO of Binance, stated that the so-called Industry Recovery Initiative (IRI) may decide to purchase some of the struggling cryptocurrency projects that the now-defunct exchange FTX had purchased. With … Read more
Custodial and noncustodial exchanges were mentioned as short-term possibilities by Buterin, however multisig and social recovery wallets are required for long-term solutions. The demise of a number of significant crypto ecosystems in 2022 highlighted the urgent need to overhaul how crypto exchanges function. To assure the stability of cryptocurrency exchanges, Ethereum co-founder Vitalik Buterin believes … Read more
How much would you be willing to spend on a Cristiano Ronaldo NFT statue that was animated and based on a famous event in his life? Binance hopes to charge thousands of dollars for the rarest. The largest cryptocurrency exchange in the world is once again making news, but this time it’s not for considering … Read more
Following the collapse of FTX, the CEO of Binance, Changpeng Zhao, and the co-founder of Ethereum, Vitalik Buterin, may be developing a proof of reserve algorithm for centralized cryptocurrency exchanges (CEX). The WuBlockchain team reported the development and referenced a previous AMA session as their source. After the FTX Collapse, users seek proof of reserves … Read more
Exchanging cryptocurrencies In late October, 320,000 ETH were unintentionally transmitted by Crypto.com to a wallet address connected to Gate.io. Although the company has now recovered the funds, Changpeng Zhao, the CEO of Binance, recommended customers to stay away from it. Many in the cryptocurrency industry have expressed concern about the dependability of centralized players in … Read more
Binance confirmed on Nov. 9 that it will not be pursuing the acquisition of FTX, less than 48 hours after Zhao first said that Binance “intend to fully acquire” FTX. As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have … Read more
Binance’s CEO Changpeng Zhao “CZ” just twitted about the “help” they are providing to the troubled FTX. CZ surprised the crypto community with his twit as nothing happened announcing the acquisition of Binance’s rival crypto exchange FTX. The provided “Help” will be in a form of liquidity as FTX are struggling with. As Zhao explained, … Read more
A gap has developed between Binance and FTX as a result of Changpeng “CZ” Zhao’s decision to divest his exchange’s exposure to the FTT token. A fight between the two largest exchanges in the industry, Changpeng Zhao and Sam Bankman-Fried, may lead to a crypto-cold war. Binance will Reduce FTT Exposure Two of cryptocurrency’s largest … Read more
Binance, the leading cryptocurrency exchange, has added Terra Classic’s TerraClassicUSD ($USTC) to its list of borrowable assets, thereby making it an asset that the exchange’s millions of users may borrow to use in their trading activities. $USTC is now accessible on Binance’s Binance Loans platform, which “provides a large range of options for supported crypto … Read more
In the midst of the macroeconomic financial ecosystem’s looming instability, major exchanges like Binance managed to steal the show in terms of volumes and user attention. Volatility returned to the cryptocurrency markets in August, as the top two crypto assets by market capitalization — Bitcoin and Ethereum — failed to break above major resistance levels. … Read more