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 […]
Binance Labs Makes Strategic Investment In Hardware Wallet
Binance Labs has made a strategic investment in the Belgian hardware wallet firm Ngrave and will lead its upcoming Series A round. Binance, a cryptocurrency exchange, is moving into the hardware wallet market. On November 21, the company disclosed that Binance Labs, its venture capital division, had made a strategic investment in Belgian hardware wallet […]
Abu Dhabi Approves Binance Financial Services Permission
UAE’s capital city of Abu Dhabi has granted Binance permission to offer financial services, a series of regulatory approvals for the exchange. Financial Services Regulatory Authority and Abu Dhabi’s Global Market (ADGM) have given cryptocurrency exchange Binance permission to operate in the area. Binance will be authorized to provide cryptocurrency custodial services to professional clients […]