Binance Spot Trading Volume Declines Consecutively for 7 Months
Binance exchange has continued to lose market share due to ongoing regulatory issues in the United States, with evidence in spot trading volume reportedly declining 7 months in a row. Binance’s spot market share declined for the seventh consecutive month in September 2023, Bloomberg reported on October 5, citing CCData’s analysis. According to the report, […]
Binance to Cease BUSD Lending Services by October 25
Cryptocurrency exchange Binance will stop offering borrowing and lending services for Binance USD (BUSD), its stablecoin. The exchange will close all open BUSD loan and collateral positions by the end of the month, according to the notice from October 3. Stablecoins like Tether USDT (tickers down $1.00), Dai, TrueUSD (TUSD), and USD Coin (USDC $1.00) […]
Binance Facing New Class Action Lawsuit
Another class action lawsuit against Binance Exchange and CEO Changpeng “CZ” Zhao is pending because of an unhealthy FTX game. Another class action lawsuit has been filed against cryptocurrency exchange Binance Holdings Ltd. and its CEO Changpeng ‘CZ’ Zhao, for allegedly contributing to the demise of its main rival, FTX Derivatives Exchange. According to a […]
CommEx Denies CZ Involvement In Binance Russia Purchase Deal
CommEx, Binance Russia’s mysterious buyer, has continued to deny Binance’s ownership involvement, although it has onboarded some ex-Binance employees. On September 29, CommEx reminded the community in an open letter that the company is not owned by Binance, which proclaimed its exit from Russia by selling it to CommEx. “Although we do not disclose our […]
Binance Advises Euro-to-USDT Conversion For Paysafe Users
Binance’s European debanking problems persist as it continues to encourage Paysafe users to convert their euros to digital dollars. After losing the support of its banking partner, Binance has exhorted users to convert their euros into Tether USDT before the end of October. On September 28, Binance urged European Paysafe users to convert their EUR […]