After FTX’s demise, Binance commits $2 billion to preserving the cryptocurrency sector

Binance commits $2 billion to preserving the cryptocurrency sector

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

Vitalik Buterin’s proposals for a “secure CEX” are being worked on by Binance CEO CZ

Proof of reserve

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

Cristiano Ronaldo’s NFT collection will be released by Binance before the World Cup

Cristiano Ronaldo's NFT collection will be released by Binance

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

Vitalik Buterin and CZ Binance Design a New Proof of Reserve Mechanism, Over $6 Billion Leaves Centralized Exchanges

Vitalik Buterin and CZ Binance Design a New Proof of Reserve Mechanism

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

While Crypto.com Sends $400 Million Worth of Ethereum to the Wrong Address, Binance CEO Warns Users to Avoid It

While Crypto.com Sends $400 Million Worth of Ethereum to the Wrong Address, Binance CEO Warns Users to Avoid It

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 pulls back from the FTX deal

Binance pulls back from the FTX deal

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

War is OVER! Binance is acquiring FTX.com

Binance is acquiring FTX

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

The battle between Binance and FTX is on, but which cryptocurrency exchange will win?

The battle between Binance and FTX is on - who will win?

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 has added Terra Classic’s $USTC to its list of Borrowable Assets

Binance has added Terra Classic's $USTC to its list of Borrowable Assets

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

Binance reigns supreme as top exchanges record their highest market share since 2017

Binance reigns supreme as top exchanges record their highest market share since 2017

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