Binance Financial News

A recent article surfaced alleging that Binance employees and volunteers were assisting Chinese users on how to bypass Know Your Customer (KYC) and other security protocols. 

In a surprising turn of events, Binance, the world's largest cryptocurrency exchange by daily trading volume, has temporarily suspended all online spot trading on its platform.

Crypto exchange Binance has encountered major issues with spot trading on the platform.

CNBC's recent investigation has dropped a bombshell, Binance employees may be actively assisting Chinese users in eluding the country's rigid crypto regulations.

Binance, the world’s largest cryptocurrency exchange, has made significant efforts to be a leader in transparency in the industry since the FTX scandal. However, a new report claims that Binance insiders are allegedly helping users bypass security protocols. 

Market events so far this month can teach investors a lot about Bitcoin’s [BTC] demand characteristics, especially those related to the derivatives market. The same observations might come in handy when making informed market decisions.

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Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a proof-of-stake (PoS) blockchain that is often referred to as the “Ethereum killer,” owing to its superior technology and high level of security and sustainability.

Led by “his excellency” Justin Sun, Tron [TRX] has struggled to become a high-ranking cryptocurrency per its price. Moreso, the cryptocurrency had not been able to significantly pull itself out of anguish lately, despite its high market capitalization.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

In an email to customers, Binance says it will suspend sterling deposits and withdrawals via card and Faster Payments from 22 May. The exchange says the move has been forced by Paysafe subsidiary Skrill's decision to stop offering fiat services. Less than one per cent of Binance customers are affected and those that are can still access their GBP balances. The sterling news comes shortly after Binance had to suspend all dollar bank transfers and amidst growing regulatory scrutiny of the exchange in the wake of the FTX collapse. Th US Justice Department is investigating the firm over suspected money laundering and sanctions violations while the SEC is eying its BUSD stablecoin. Binance says it is working to find an alternative to Paysafe but a partner could be hard to come by. In 2021, the exchange lost access to Faster Payments after the FCA ordered it to stop regulated activities in the UK. The following year, it regained access via Paysafe but even then the FCA raised concerns about the move while conceding that is had "limited powers" to object. Now, Skrill says it has "concluded that the UK regulatory environment in relation to crypto is too challenging to offer this service at this time".

On March 18, Euler Finance, a decentralized finance (DeFi) platform, received a surprising gift from the hacker who had drained $197 million from the platform just a few days earlier. The attacker returned 3,000 ETH ($5.4 million) to Euler Finance's deployer address, citing a change of heart.

Binance, one of the world's largest cryptocurrency exchanges, announced on March 17 that it has replaced the Binance USD (BUSD) holdings in its Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT). The move comes in response to Paxos' recent move to stop minting new BUSD, which has led to the asset's market capitalization falling. SAFU is an emergency insurance fund established by Binance in July 2018 to protect users' funds in case of security breaches or other unforeseen events.

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Due to the recent events surrounding SVB and Circle, the stablecoin market witnessed a lot of volatility over the past few weeks. After the dust settled, Tether [USDT] emerged on top, when compared to other stablecoins.

Trading volumes on centralized crypto exchanges (CEX) have seen a significant surge over the past few weeks. Trade volumes of the top 18 exchanges have reached a four-month high of $51 billion, the highest level since the collapse of the Bahamas based crypto exchange FTX. 

Cardano’s [ADA] stablecoin Djed, which launched earlier this year, may soon expand to other layer-1 networks like BNB Chain [BNB] and Ethereum [ETH].

Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed. 

In a world where electric vehicles (EV) are becoming the new normal, the demand for state-of-the-art charging infrastructure is soaring. 

In an audacious cyber heist, $1 million worth of cryptocurrency was brazenly stolen from the AI-powered trading dApp Harvest Keeper.

The price of Terra Luna Classic has fallen to $0.00012616 today, representing a drop of 4% in the past 24 hours and a decline of 5% in the past week.