Binance Reclaims $5.8 Million from the Ronin Bridge Hack

Binance has recovered $5.8 million worth of tokens stolen from Axie's Ronin Network late last month. In March, malicious hackers initially ripped off a total of about $600 million. This means more than 99% of the loot yet remains awol.  Binance Shows Support The hack of Axie Infinity's Ronin Network last month resulted in a loss of about 173,000 ETH and 25.5 million USDC. CZ, the CEO of Binance, said on Friday that the hackers, "Lazarus Group" distributed the stolen…

Binance Updates Russian Account Policy in Response to EU Sanctions

Binance – the world’s largest crypto exchange – recently released an update on its treatment of Russian accounts due to international sanctions. The company will place accounts holding crypto worth over 10,000 EUR into “withdrawal-only mode”, preventing them from making more trades. Politics Versus Principles As its war with Ukraine continues, sanctions against Russia from the former’s allies have continued to tighten. Meanwhile, both the European Union and United States have been particularly concerned about crypto’s potential role in bypassing…

Binance Opens Career Opportunities for Young People in El Salvador

Binance is creating employment for El Salvadorian youths to remedy the rate of gang-related activity in the country.   According to the exchange’s CEO Chapeng Zhao, employment opportunities targeted at young Salvadoreans could keep them off the streets. In the past weeks, the country has had its share of gang incidents. A situation that was dire enough to keep pro-crypto President Nayib Bukele off the recent Bitcoin conference. Early this morning, Zhao revealed that Binance already recruited 7 new Salvadorean employees.…

Binance Recruits Former Microsoft Exec to Expand Web3 Offerings

Major exchange Binance has announced the recruitment of two tech veterans, Rohit Wad and Mayur Kamat. According to Binance’s release, the exchange expects the new additions to help expand its ongoing Web3 developments. On April 1, Rohit Wad, a former corporate VP at Microsoft, assumed the position of Binance's new Chief Technology Officer. Mayur Kamat, previously the VP of product at Agoda, is now the head of product at the cryptocurrency exchange. Binance seems intent on leading the Web3-based future,…

Binance Pushes for Middle East Expansion, Obtains Dubai License

Earlier today, Binance shared the news that it had received a Virtual Asset License permitting operations within Dubai.  Virtual Asset Regulatory Authority to Monitor Affairs The exchange platform can now offer limited exchange goods and services to eligible investors and establishments in the UAE. However, this will be done in accordance with the Virtual Asset Regulatory Authority’s (VARA) initial regulatory stage. The permit grants Binance the opportunity to function within Dubai’s digital asset market model which runs under the “test-adapt-scale”…

Binance Launches Own Fiat-To-Crypto Payment Fintech

The world's largest cryptocurrency exchange Binance has announced the launch of its own fiat-to-crypto payments provider. As announced on Monday, Bifinity will be the official fiat-to-crypto payments provider for Binance. The payments financial technology company will connect businesses, merchants, and users to the world of crypto and blockchain. Bifinity will support over 50 cryptocurrencies globally along with all major payment methods, including VISA, Mastercard, and more. Users will also have access to "NFT checkouts," allowing users to trade across different platforms.  …

Coinbase Joins Kraken and Binance in Not Banning Russian Accounts

Brian Armstrong – CEO of Coinbase – refused to freeze Russian users’ assets at his exchange despite officials’ calls to help financially cripple Russia. Damage From Russian Sanctions Similar to the CEOs of Kraken and Binance, Armstrong cited financial sovereignty and crypto-centric values as reasons to continue protecting Russian accounts. “We believe everyone deserves access to basic financial services unless the law says otherwise.” said Armstrong in a Twitter thread discussing the matter on Friday. [caption id="" align="aligncenter" width="1200"] Brian…

Binance Donates $10M To Ukraine And Launches Emergency Relief Fund

The largest cryptocurrency exchange worldwide, Binance, has donated $10 million to Ukraine in the wake of the recent Russian invasion. This contribution to the war relief in Ukraine is just one of the many initiatives coming from the crypto industry. Moreover, donations continue to pour into the country’s crypto wallets as the conflict escalates. Binance Alleviates Ukraine’s War Costs Almost all the financial markets in the world have taken a dip as soon as Russia invaded Ukraine last week. The…

Binance Halts Activities In Israel Amid Regulatory Scrutiny

Facing increased scrutiny from the country's financial regulators, Binance paused all of its services in Israel. BNB token plunged on the news. On Thursday, Israel's Capital Markets Authority, the country's chief financial regulator, asked Binance to clarify its activities. In particular, Israeli authorities asked Binance to clarify the services it provides and the license under which it operates. According to the regulator, one of the largest exchanges in the world has stopped key operations after the probe. Following the intervention of…

1 2 3 4 5 12