Changpeng Zhao’s Net Worth Drops by 80% This Year
Changpeng Zhao’s net worth has plummeted significantly as Binance’s trading volumes have dried up this year due to regulatory action. Changpeng Zhao, the founder of Binance and a crypto magnate, saw his net worth plummet by 80% since the beginning of 2023 as the cryptocurrency market experienced a strong rebound. Binance has been experiencing turbulence […]
Binance Launches STP for Spot and Margin Traders
Binance exchange has launched self-transaction prevention (STP) function for all spot and margin traders with intent to prevent unnecessary trading fees associated with unintentional self-trades. On October 26, Binance will implement the self-transaction prevention (STP) function for all spot and margin trading users, the company announced on its blog on October 11. The “expire maker” […]
Binance Remains Silent on Projects Funded by Crypto IRI Fund
A new report shows Binance’s $1B Industry Recovery Initiative (IRI) fund, a project to support the crypto industry during the FTX collapse, may not have been as effective as anticipated as the exchange has still not disclosed projects funded by the initiative. After announcing the IRI in November 2022, Binance spent $15 million in its […]
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 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 […]