Markets
The crypto market is riding high as “Uptober” delivers on its historical promise. Bitcoin hovers near a new all-time high, Ethereum pushes toward $4,500, and altcoins are catching fire. But one token stands out: BNB, formerly known as Binance Coin, is up 24% in the past month and flashing technical signals that suggest either a moonshot to $2,000 or a face-melting correction is imminent. BNB opened today at $1,090.97 and closed at $1,157.05, marking a solid 6.06% daily gain after hitting a new a...
Markets
The crypto market, including Bitcoin, is today still dealing with the effects of yesterday’s massive liquidation cascade, though the bleeding has slowed. The total cryptocurrency market capitalization sits at $3.9 trillion, down a slight 0.6% over the past 24 hours, according to CoinGecko. Not bad considering yesterday was the year's largest liquidation event with over $1.7 billion in leveraged long positions being forcibly closed. Much like yesterday, though, the tradfi market is faring much be...
Markets
BNB set a new all-time high on Monday as it surged 7% on the day to a peak of $858, securing its place as the fifth largest cryptocurrency by market capitalization. The cryptocurrency has since retreated to $851, up 6.6% over the past 24 hours, according to CoinGecko data. It follows the announcement that a drug company is set to buy up $700 million worth of BNB, as the latest in the corporate crypto treasury trend. Alongside BNB's all-time high, other altcoins have jumped in value. Leading the...
Markets
Bitcoin slipped almost 3% Thursday as the U.S. appeals court temporarily revived President Donald Trump’s controversial tariffs on Thursday, just hours after a trade court struck them down as unconstitutional. “The judgments and the permanent injunctions entered by the Court of International Trade in these cases are temporarily stayed until further notice while this court considers the motions papers,” the U.S. Court of Appeals for the Federal Circuit wrote in its May 29 ruling. The stay, which...
Coins
The Himalayan country of Bhutan has partnered with Binance Pay to enable crypto payments throughout its tourism ecosystem. The integration, powered in conjunction with Bhutan’s local DK Bank, will reportedly allow tourists visiting the country to pay for things such as airline tickets, visa fees, hotel stays, monument entry, tour guides, and street food from roadside stalls with cryptocurrencies. Experience #Bhutan with the world’s first national crypto tourism payment system! Powered by Binan...
Coins
Decentralized exchange (DEX) KiloEX has suspended operations following a $7.5 million attack, which cybersecurity researchers attributed to a “price oracle exploit.” KiloEX launched in 2023, built on BNB Chain, opBNB, and Manta Network, and has received seed funding from Binance Labs, which invests in the Binance Coin (BNB) ecosystem. In a tweet, the DEX reassured users that the exploit has now been contained. KiloEX said it is “working with security partners to trace the flow of funds” and that...
Business
Binance founder and former CEO Changpeng Zhao, who goes by CZ, has introduced a new feature called “Pay to Reach,” allowing users to send direct messages to him for a guaranteed response—but for a price. The initiative, first floated by CZ in a Binance Square post early this month, seeks to address the overwhelming number of messages he receives daily. In theory, he says it will allow him to streamline communication and reduce spam. https://t.co/TEEwkPQFIa 18 days ago, I published an article in...
Markets
Binance founder and former CEO Changpeng "CZ" Zhao made public his crypto holdings on Monday, revealing that 98.6% of his portfolio is composed of BNB, the exchange's native token, while about 1.3% is made up of Bitcoin. EURI and USDT represent another 0.17% and 0.03% of the portfolio, respectively, according to a pie chart Zhao posted to Binance Square, a crypto-native social platform, shortly after an X user challenged him to disclose his digital asset bag. The founder did not specify the fiat...
Law and Order
In a year of dramatic crypto stories, among the most striking was that of Tigran Gambaryan, a former IRS agent and Binance executive who was detained for eight months in Nigeria on charges of money laundering. Taking in daring escapes, courtroom collapses, and Congressional resolutions, the unfolding saga was akin to a Hollywood movie—but with very real consequences for those involved. Here’s how the story unfolded. Gambaryan, a U.S. citizen, joined Binance as the crypto exchange’s VP of Global...
Markets
Crypto exchange Binance is losing its lead over its competitors as its business faces regulatory headwinds across the globe, a new report from digital asset data provider CCData shows. The report, published on October 3, reveals Binance processed 36.6% of volume for spot and derivatives trading on centralized trading platforms in September, roughly 22% more than its closest competitor, OKX. Binance's spot trading volume dipped more than 20% last month, leaving it with a 27% share of the spot m...
Law and Order
Former Binance CEO Changpeng Zhao has a lifetime ban from “managing or operating” the centralized crypto exchange, according to current CEO Richard Teng. Teng revealed that Zhao would be barred from managing the platform for life in an interview with Axios, which revealed that it was a "key condition" of the plea agreement between Binance and U.S. authorities. This comes after reports initially suggested Zhao would only be banned for a number of years. “Under the terms of the agreement, CZ is p...
Business
Crypto exchange Binance has registered with India's Financial Intelligence Unit (FIU) as a reporting entity, after settling a $2.25 million fine with the agency earlier in the year. Binance CEO Richard Teng described the registration as an "important milestone" for the exchange in a statement shared with Decrypt, adding that "this alignment with Indian regulations allows us to tailor our services for Indian users." In a blog post, Binance announced that its app and website are now "fully availab...
Law and Order
Binance.US said Monday it looks forward to defending itself against the U.S. Securities and Exchange Commission following a court's decision to allow the regulator’s case against the crypto exchange to proceed. In a statement posted to social media platform X, Binance.US expressed confidence in its legal position while pushing back against accusations of securities violations. "We have always utilized the limited guidance that the SEC has offered to the crypto industry to operate our business i...
Law and Order
After fainting in a courtroom earlier this week, Binance executive Tigran Gambaryan has been hospitalized in Abuja, Nigeria, where his money laundering case was adjourned, per Reuters. The largest crypto exchange’s head of financial crime compliance was denied bail earlier this month after being incarcerated in the region in late February. Spending over a month in Nigeria’s Kuje Prison, the executive reportedly appeared gaunt at trial earlier this week. Gambaryan’s lawyer said in a letter to tri...
Law and Order
A Binance executive who fled Nigerian custody has reportedly been arrested in Kenya and faces extradition to Nigeria "this week." According to unnamed Nigerian government sources cited by local publication Punch, Binance regional manager Nadeem Anjarwalla "has been arrested in Kenya, and he’ll be extradited to Nigeria this week." Nigeria's Economic and Financial Crimes Commission (EFCC), the International Criminal Police, the Nigeria Police Force, and the Kenyan Police Service are reportedly in...
Long Reads
Binance’s operation in Africa's biggest cryptocurrency market is under intense scrutiny, with Nigerian authorities accusing the crypto giant and a host of other exchanges of infractions including currency manipulation and facilitating transfers of illicit funds. With one Binance executive in custody in Nigeria, and a second having fled the country after having been detained, Nigerian authorities have singled out the exchange for circumventing Nigerian laws and for tax evasion. According to court...
Law and Order
Nigeria's federal government is "working with" the International Criminal Police Organization (Interpol) to seek the extradition of a Binance executive who escaped detention in the country, according to reports in local media. According to a government source quoted in local publication Punch, Nigeria's Economic Financial Crimes Commission (EFCC) is "partnering" with INTERPOL, the FBI and the British and Kenyan governments to secure the arrest and extradition of Nadeem Anjarwalla, Binance's regi...
Law and Order
A Binance executive detained in Nigeria has sued the government for violating his fundamental human rights. According to local publication Punch, Binance's Head of Financial Crime Compliance Tigran Gambaryan has filed a motion with the Federal High Court in Abuja, seeking a declaration that the seizure of his passport contravened Nigeria's constitution. Gambaryan has also asked that the Office of the National Security Advisor (ONSA) and the Economic Financial Crimes Commission (EFCC) be compelle...
Business
Newly appointed Binance CEO Richard Teng attempted to draw a line under the crypto exchange’s past issues, conceding that compliance controls were “inadequate” and arguing that the company could “move past a challenging chapter.” Speaking at the Financial Times Crypto Winter Summit, Teng said that, “The compliance controls that we had in those early days were inadequate for the size of company we were becoming very quickly,” acknowledging that, “there were mistakes made.” He claimed that the exc...
Law and Order
Changpeng "CZ" Zhao, former CEO of crypto exchange Binance, must stay in the United States for now, a federal judge ruled Monday. This comes after Zhao pleaded guilty last week to violating the Bank Secrecy Act. The decision puts on hold an earlier ruling that would have allowed Zhao to return to his family in the United Arab Emirates while awaiting sentencing in February 2024. Prosecutors argued Zhao poses a flight risk, given his wealth and the lack of an extradition treaty with the UAE. Last...
