Binance Financial News

The crypto industry celebrated Ripple's partial win in court on Thursday, as a judge has ruled XRP (XRPUSD) is not a security. While many crypto proponents see this as a sign these sorts of assets will be allowed to flourish in the U.S., some legal experts point out that there is still much more regulatory clarity needed.

In a split decision Tuesday that may have implications for future crypto regulation, a judge ruled XRP is not a security, but Ripple's activities were not entirely legal.

Liquid staking is a decentralized finance (DeFi) subsector that lets users earn yield by staking their tokens without losing their liquidity. It has become the biggest DeFi sector in terms of total value locked (TVL), according to crypto exchange Binance’s Half-Year Report 2023. 

The embattled crypto exchange giant Binance completed its quarterly burn of 1.99 million BNB coins worth around $477 million on Wednesday successfully. 

In the latest moon-shot, straight to DEX Blockper token has blasted up more than +360% as DEX traders flock to ride skyrocket pump.

Binance has concluded its public sale of ARKM tokens on behalf of on-chain analytics provider Arkham Intelligence, bringing in almost $2.5 million worth of BNB, the exchange announced Tuesday.

Societe Generale has become the first company in France to obtain a license for crypto services, as a growing number of mainstream financial companies embrace crypto globally this year. Societe Generale's crypto unit, Forge, is licensed as of Tuesday to offer services, including crypto custody, trading and sales, according to the website of France's AMF market regulator.

French banking giant Societe Generale’s crypto arm has received a full Digital Asset Service Provider (DASP) license from the country’s financial regulator Autorité des Marchés Financiers (AMF).

The Australian Securities and Investments Commission (ASIC) has canceled the financial services license of FTX’s Australian subsidiary effective from July 14, impacting 30,000 customers.

The biggest crypto exchange Binance is reportedly planning to layoff between 1,500 and 3,000 employees by the end of the year, according to an anonymous source cited by CNBC on July 14, 2023. This move is seen as a response to an ongoing probe by the U.S. Department of Justice and SEC.

Binance, the world’s largest cryptocurrency exchange, has grown increasingly frugal amid declining profits after boasting that it had prepared a “war chest” last year.

Crypto traders are showing pessimism in the derivatives market for the embattled crypto exchange Binance’s native coin BNB amid the growing regulatory turmoil. 

In the latest straight to DEX meme coin launch, yesterday, PhoenixInu Token undertook a magnificent +10,000% moon-shot.

Crypto exchange Binance’s Argentina arm has decided to abruptly call-off its partnership with the Argentine Football Association (AFA), accusing the latter over lack of compliance.

Despite several high-profile cryptocurrency implosions, the number of people working in the industry has soared over the past four years.

Binance has laid off more than 1,000 people in recent weeks in a continuing exercise that could result in the exchange losing more than a third of its staff, the Wall Street Journal reported on Friday, citing a person familiar with the moves. Last week, a string of executives also quit Binance, which included its Chief Strategy Officer Patrick Hillmann. U.S. regulators last month sued the crypto exchange and its CEO Changpeng Zhao for allegedly operating a «web of deception.» Binance has said it would defend itself «vigorously.» More employees were laid off this week, according to former employees, who said customer-service workers were heavily affected. The cuts were global, including about three dozen customer-service employees in India, the report added.

Coinbase Chief Executive Brian Armstrong will meet privately with a group of U.S. House of Representatives Democrats on Wednesday morning and plans to make remarks on the future of digital asset legislation. The meeting comes as Coinbase and Binance — two of the world's largest crypto exchanges — are grappling with lawsuits brought by the U.S. Securities and Exchange Commission for allegedly failing to register their operations with the agency. At the meeting, Armstrong will also touch upon related issues, such as tax, national security, privacy, and climate, a New Democrat Coalition spokesperson said in an emailed statement. Coinbase did not immediately respond to a request for comment outside business hours.

Multiple data points point to Bitcoin price falling below $29,000 in the short term. 

Global cryptocurrency exchange Binance reportedly cut back on certain benefits to its employees in June amid reevaluation efforts at the firm.

Binance CEO Changpeng Zhao (CZ) has confirmed that his exchange is laying off people, but said numbers reported in the media are “way off.”

Binance slashed its employee benefits last month in the wake of falling profit, a sign of the financial strain hitting the crypto giant. The company told employees that it would stop offering certainbenefits, effective June 19, including mobile-phone reimbursement, fitness reimbursement and work-from-home expenses, among other items, according to former employees and a message from Binance’s internal messenger viewed by The Wall Street Journal. “Considering the current market environment and regulatory climate that has unfortunately led to a decline in profit, we have to be more prudent with our spending," the message read.