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Tag: Binance

December 1, 2022

Amid Crypto Contagion, Binance Acquired Regulated Japanese Crypto Exchange!

Binance re-enters the Japanese markets a year after it was warned by regulators about its unauthorized activities. The world's largest crypto exchange, owned by Changpeng Zhao, announced that it had acquired 100% of Sakura Exchange BitCoin (SEBC), the Japanese-registered crypto exchange service provider. Through this acquisition, Binance addresses the Japanese market with an entity regulated by the Financial Services Agency (FSA).

Crypto Schemes

November 25, 2022

Crypto Contagion: Binance Releases Proof Of Reserves!

The crypto industry is currently under general suspicion of not correctly managing and misappropriating the funds (FIAT and Crypto) deposited by customers. As a result, many exchanges, brokers, and lenders do not have enough funds to pay out their customers. Most recently, Bitpanda, regulated in Austria and Germany, had its reserves audited by KPMG. Now the world's largest crypto platform Binance is also disclosing a Proof of Reserves (PoR).

November 22, 2022

Crypto Contagion: Binance Refused To Rescue Troubled Crypto Lender Genesis!

The troubled U.S. crypto lender Genesis said it has no immediate plans to file for bankruptcy after the FTX collapse forced it to suspend customer redemptions. A report from Bloomberg News said Genesis was struggling to raise fresh cash for its lending unit. The lender has approached crypto Binance for investment and to bid for its loan book, according to people familiar with the matter. However, Binance decided not to invest.

November 13, 2022

Attention! More Crypto Exchanges Seem To Have Serious Liquidity Issues.

The collapse of Sam Bankman-Fried's FTX, the world's third-largest crypto exchange, is being discussed in minute detail on Twitter. Most recently, various tweets warned that other crypto exchanges were transferring funds to each other to be able to show their reserves. In other words, the reserves are missing and can only be represented with such tricks. Binance founder and CEO Changpeng Zhao issued a warning.

November 11, 2022

The FTX Collapse, BlockFi, And The Next Crypto Bank Run, And Jail Time!

After it was announced a few days ago that Sam Bankman-Fried's crypto exchange FTX has massive liquidity problems, the crypto scene was shocked. This was completely unexpected. Binance has canceled a briefly considered acquisition. Reportedly, up to $10 billion are missing. Now BlockFi, a crypto platform affiliated with the FTX group, has announced the suspension of withdrawals. BlockFi was impacted by the Terra-Luna collapse earlier this year and has been rescued by the FTX group.

November 10, 2022

The FTX Collapse Shakes The Crypto Universe!

Sam Bankman-Fried's (SBF) crypto exchange FTX will not be acquired by Binance. After less than 24 hours after announcing the LOI to acquire FTX, Binance canceled the acquisition via Twitter. The reason given was the mishandled customer funds and the investigation by US authorities. Allegedly, up to 90% of FTX's customer funds have disappeared. was scared to death, SBF played another round of League of Legends. Sure as hell, he will be facing massive legal troubles!

November 9, 2022

The FTX Bail-Out And The Fall Of Crypto Mogul Sam Bankman-Fried!

Apparent crypto mogul Sam Bankman-Fried aka SBF and his FTX crypto exchange may not have been as financially strong as always presented themselves. After FTX users complained on Twitter about withdrawal issues, Binance CEO Changpeng Zhao aka CZ announced on Twitter that Binance had signed a non-binding LOI to bail out and acquire FTX, which had slipped into a liquidity crisis. SBF's image as a deep-pocket crypto mogul has probably suffered massive damage in the process.

October 23, 2022

Regulatory Week: Binance Registered With CySEC For Crypto License!

Amid the ongoing Crypto Winter, the world's largest crypto exchange (by volume), Binance, announced that the Cyprus Securities and Exchange Commission (CySEC) had granted a Class 3 registration as a Crypto Asset Services Provider (CASP) to Binance Cyprus Limited allowing it to offer services, including spot, custodian, staking, and card services, in compliance with the requirements of the CySEC’s anti-money laundering and counter-terrorist financing (AML/CTF) rules.

Crypto

October 13, 2022

Crypto Exchange Binance Alleged To Have Made False Filings In The UK

The Financial Times reported that Binance founder Zhao Changpeng and Dimplx formed the UK joint venture Binance Digital Limited in 2019, but relations between the partners have since soured. Dimplx said it intended to sue Binance and over disputes arising from their business dealings, but declined to provide details of its claims. Dimplx accused Binance of filing a “grossly inaccurate” annual report for one of the British entities associated with the world’s largest crypto exchange.

October 2, 2022

Attention! Binance Clone Scammers Attack German Consumers!

The German regulator BaFin has warned against scammers acting as clones of the well-known crypto exchange Binance. In its warning, the regulator clarifies that unknown third parties use fake credentials "Binance Deutschland GmbH & Co. KG" or "Binance.GmbH", "Binance-de.com" or "Binance.com" to approach consumers and offer them transactions in crypto assets. These scammers are not affiliated with Binance and do not have a license to provide financial services.

September 28, 2022

Binance Launches A Global Law Enforcement Training Program To Fight Cybercrime!

In a blog post, Binance, the world's largest and most likely most embattled crypto exchange, announced the launch of its Global Law Enforcement Training Program, designed to help law enforcement detect cybercrime and assist in prosecuting bad actors who exploit digital assets. Over the past year, the Binance Investigations team has conducted and participated in more than 30 workshops on countering cybercrime, Binance said in the post.

September 26, 2022

Unstoppable? Binance Rapidly Expands Its Business In Dubai As Virtual Asset Services Provider!

Last week, Binance received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), authorizing the company to offer an approved range of virtual asset-related services to suitably qualified retail and institutional investors in Dubai within its internationally benchmarked legislative framework for virtual asset service providers (VASPs). According to its founder and CEO Changpeng Zhao, Binance already has 400+ employees in Dubai.