Binance acquires regulated crypto exchange in Japan
Binance has managed to expand its services by either acquiring an operating license or buying a stake in a regulated entity. After purchasing a 100% stake in a recognized cryptocurrency service provider in Japan, cryptocurrency exchange Binance intends to reenter the market. On November 30, Binance CEO Changpeng Zhao said the cryptocurrency exchange was committed […]
Binance CEO says 127K BTC move is PoR audit procedure
The CEO of cryptocurrency exchange Binance has stated that significant sums of cryptocurrency are being moved as part of its proof-of-reserve (PoR) audits. On November 28, according to a tip from Whale Alert , Binance transmitted 127,351 Bitcoin, or more than $2 billion, to an unidentified wallet. On-chain data shows that the transaction took place […]
Binance launches official Merkle Tree-based proof of reserves
Binance announced its official answer two weeks after initially pledging to create a proof-of-reserve (PoR) system in response to the FTX liquidity and bankruptcy catastrophe. The exchange explained how users can utilize the system to check its holdings in an announcement on the Binance website. The Merkle Tree-based method can currently only verify Bitcoin (BTC […]
Binance adds additional $1B in BUSD to Industry Recovery fund
After previously adding $1B in BUSD to the fund and following complaints, Changpeng “CZ” Zhao, CEO of Binance, has added yet another $1B in BUSD to the crypto Industry Recovery fund. On November 25, the CEO of Binance, “CZ,” tweeted that Binance has committed another $1 billion to the effort to revive the sector. The […]
Binance Targets $1B Recovery Fund For Distressed Crypto Assets
Binance is targeting $1 billion or more for a previously announced recovery fund to buy distressed crypto assets. Binance plans to contribute $1 billion to a suggested industry recovery fund, and its CEO announced plans for a fresh offer for the assets of the defunct Voyager bitcoin loan company. In an interview with BloombergTV on […]