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Former Binance CEO Changpeng Zhao has been branded a “problematic figure in the crypto space” after he was accused of spreading lies and misinformation about the creator of a rival to the controversial memecoin platform Pump Fun. Zhao was called out on the crypto review site Ethos Network after he claimed on X that a fired Binance employee — rumored to be Boop Fun founder Dingaling — had engaged in insider trading and lied about their job credentials.  “There are also former employees who were fired by Binance for insider trading, who claimed to be the founder or CXO of something a few years later,” claimed Zhao in response to a post by MetaEra founder Vito. “Binance has never had any other C-Os except the CEO, CTO, CMO, CCO, CFO, and COO,” he added. Vito claimed the person in question had gained “industry status” with Binance’s help before launching a platform that will “ go back to zero .” Neither post names anybody, however, multiple users...

The world’s largest crypto exchange platform by trading volume is adding a new layer-1 Ethereum (ETH) rival to its launchpool. In a new announcement, Binance says it’s adding Initia (INIT), a blockchain designed to offer rollups and infrastructure for appchain development, to its launchpool. “Binance is excited to announce the 68th project on Binance Launchpool – Initia (INIT), an L1 blockchain that unites appchains to unlock their full value through interwoven infrastructure and aligned economics.” Binance’s launchpool was started in 2020 and is a platform that allows traders to earn new tokens passively by staking their existing assets. According to its official website, Initia seeks to reduce the decision fatigue that blockchain and blockchain developers face as a means of improving how they operate. “The Interwoven Stack is Initia’s comprehensive, all-in-one solution designed to empower developers and teams in buildi...

Binance plans to use its Launchpool platform to launch trading support for the new native asset of a gaming blockchain. Binance Launchpool, which lets users stake coins to farm new assets, says its 66th project will be GUN, the official token of the GUNZ blockchain, which was built by developer Gunzilla Games. The chain currently powers Gunzilla’s Extraction Royale game “Off The Grid” and its infiltration game “Technocore.” Gunzilla says in the project’s whitepaper that the chain was “purpose-built for AAA web3 gaming.” “Originally created to support a community-driven economy for Gunzilla’s flagship title, Off The Grid (OTG), GUNZ has evolved into a full-featured platform offering blockchain-native infrastructure essential for modern game development.” Between March 28th and 31st, Binance users can lock their BNB, the crypto exchange platform’s native asset, as well as the stablecoins First Digital USD (FDUSD) and...

An Ethereum (ETH)-competitor is printing gains after receiving support from the world’s largest crypto exchange by volume. In a new announcement, Binance says it will be adding support for Sonic (S), formerly known as Fantom (FTM), to many of its programs. “Binance is excited to announce that Sonic will be added to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures.” News of the addition helped push Sonic’s price up, as the digital asset went from a weekly low of $0.68 on January 13th to a peak of $0.835 on January 15th, a gain of about 28%. The crypto asset has since retraced and is trading for $0.789 at time of writing. Fantom was a layer-1 blockchain first launched in 2018 by a South Korean computer scientist as a tool to aggregate smart contracts into decentralized applications (dApps) as well as improve scalability. Earlier this year, the development team behind the blockchain announced a...

The Usual price soared 38% in the last 24 hours to trade at $1.25 as of 02:09 p.m. EST on trading volume that skyrocketed 509% to $1.7 billion. The USUAL price surge comes after its listing on Binance, the world’s biggest crypto exchange.  Usual Price On A Bullish Trend Reversal The Usual price, after launch, went on through a sustained bullish trend to the $1.29 resistance zone. USUAL then went on through a retrace back to the $0.94 support before soaring back to the resistance zone, forming a rounding bottom pattern, according to data from GeckoTerminal . The Usual price trades well above the 50-day Simple Moving Average (SMA) ($1.1127), confirming short-term bullish momentum. Meanwhile, the Relative Strength Index (RSI) is at 67.32, nearing overbought conditions (70+). This indicates strong bullish momentum but suggests a potential short-term pullback or consolidation as buyers may lose steam temporarily. If the Usual price sustains its bullish trend reversal, the a...

Binance executive Tigran Gambaryan has been denied bail in Nigeria while facing money laundering charges, on the grounds that an appeal to his first bail denial is still pending. A Federal High Court in Abuja rejected Gambaryan’s bail application on Friday. Justice Emeka Nwite maintained that Gambaryan’s health has not deteriorated further since that first bail denial, and that he is receiving appropriate healthcare while in detainment. Since Gambaryan’s appeal remains open, his lawyer has no legal ground to request bail again. “On this leg alone, this bail application is bound to fail,” Nwite said (via Nairametrics). This is the second day in a row that Gambaryan was in court requesting bail. Yesterday, his court hearing was postponed due to Nwite blowing him off for a seminar at the National Judicial Institute. Binance exec still awaiting bail decision as judge skips hearing for seminar Read more: ‘This is f*cked up!’ Binance exec claims Nigerian ...

Former Binance CEO Changpeng Zhao has shared his future plans in his first lengthy tweet since his release from prison after serving a 4-month sentence. “Gm, the food taste so good…,” Zhao said in the Sept. 29 post. ”And what a luxury to be able to have more than one piece of fruit per day!” Changpeng Zhao Taking A Brief Break Before Future Endeavors The billionaire said that he will “chill for a bit” before figuring out what he will do next. He remains optimistic about what the future holds, and believes that the future always offers more opportunities than the past. In the post, he shared that he will be focusing on Giggle Academy , which so far has “been going well.” This educational initiative will be one of his main focuses going forward, with Zhao saying that it will be a “big part” of his life for the next few years. The former Binance CEO will also be dedicating more “time and funding” to charit...

Author: He Yi Original link: https://www.binance.com/zh-CN/square/post/13659356461810 This article is the author’s personal opinion and does not represent the views of WuBlockchain Is the Crypto Space Coming to an End? Recently, many pessimistic posts about the blockchain industry have gone viral. Many people outside the industry are asking me if the so-called “crypto scam” is over. Insiders are wondering if the industry still has a future. What stage of the cycle are we in? Bad news tends to grab headlines more easily than good news, and bad news also attracts more traffic and attention. What could be more mock-worthy than crypto enthusiasts criticizing the crypto space? These behaviors and sentiments spread, fueled by the ever-growing flow of traffic. Some even magnify the retirement of certain OGs as evidence that “the crypto space is dying.” Even some die-hard idealists in the industry have shown anxiety and confusion during my conversations with them. But it’s not just the crypto ...

A Chinese trader claims that Binance ignored “extremely abnormal transactions” and failed to freeze funds belonging to an “obvious hacker,” leading to them losing their $1 million life savings via a promotional Google plugin. The trader, who goes by the name ‘CryptoNakamao’ on social media, reportedly used the Aggr plugin to access trading data. However, it actually allowed hackers to find a way around password and two-factor authentication (2FA) protection to gain access to their Binance account. Once into their account, CryptoNakamao explains that the Hack er bought several tokens in the Tether trading pair — which had abundant liquidity – and placed sell orders in Bitcoin, USD Coin, and other trading pairs — which had scarce liquidity. Then, despite not being able to withdraw funds directly , the Hack er was able to open leveraged positions, buy a large amount in excess, and complete their cross-trading. The trader says they noticed their account trading randomly on ...

Ontario’s superior court has green-lit a class action Lawsuit against Binance that accuses the crypto exchange of selling unregistered crypto derivative products and violating securities law.  The lawsuit, brought by Christopher Lochan and Jeremy Leeder, claims that Binance sold crypto-derivative products to thousands of retail traders while failing to register with the Ontario Securities Commission, as required by law.  As reported by Advisor.ca, the Lawsuit received a certification of motion on April 19 allowing it to proceed as a ‘class action’ Lawsuit and represent a wide basis of people without each individual having to take legal action. Judge E.M. Morgan noted that Lochan and Leeder claim “they are two of the tens of thousands of Canadian users of the Binance website who invested in cryptocurrency products and who claim that those products were sold by the Defendants illegally.” Unanswered questions about the Binance Industry Recovery Fund R...

While Madoff has remained the top household name for financial fraud for the past 16 years, it may finally be time to anoint a new fraud king: the former head of Evergrande, Hui Ka Yan. Evergrande collapsed in 2021 after three years of being the largest and most valuable real estate company in the world. The success of the company also briefly made Hui the wealthiest individual in China. But as the Chinese real estate market began to falter, the books for Evergrande looked more and more cooked, and by 2023, the company was bankrupt and facing liquidation. Read more: A year on from the US regional banking crisis, what’s changed? Inflation-Adjusted Fraud means Madoff Keeps Crown While the $78 billion fraud claim being leveled against Evergrande and Hui Ka Yan is significantly larger than the $65 billion fraud that Madoff accomplished over decades, it is actually a much smaller amount when adjusted for inflation.  In this case, after the adjustment, Madoff’s fraud would am...

Binance, the world’s leading cryptocurrency exchange, has announced its official listing of Dogwifhat (WIF). Slated for March 5th at 14:00 (UTC), Dog WIF hat’s listing represents a massive vote of confidence for the now popular Solana-based meme coin . Binance will open WIF /BTC, WIF /USDT, WIF /FDUSD, and WIF /TRY trading pairs, allowing users to start depositing WIF tokens in preparation. #Binance will list @dog WIF coin $ WIF with Seed Tag Applied. ️ https://t.co/zlKeAgCLO6 pic.twitter.com/76nuDTbsAO — Binance (@binance) March 5, 2024 Dogwifhat has rode a monumental hype wave in recent weeks, gaining over 703% in just 30 days to position itself as a top 100 crypto asset. After reaching an all-time high of $1.88 on March 4th, WIF has pulled back but remains up 222% over one week. Also read: Ethereum Breaches $3,500; Can ETH Hit $4,000 Next? Much like the meteoric rises of Dogecoin and Shiba Inu before it, Dogwifhat has managed to capture the attention of t...

According to the Philippines SEC, entities involved in promoting or trading on Binance could face up to 21 years of imprisonment and $90,000 in penalties. Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license , according to the local securities regulator . The Philippines Securities and Exchange Commission (SEC) issued a warning against Binance on Nov. 28, informing the public that the exchange is not authorized to sell or offer securities in the country. The announcement emphasized that an exchange like Binance must apply for registration and provide detailed information about offered securities before selling them to the public. Such detailed information includes the issuance price, the nature of securities and other data. Related: Philippines to sell $179M in tokenized treasury bonds for the first time The Philippines’ Securities Regulation Code (SRC) also requires securities issuers to be registered in the country before b...

Teng’s focus on regulatory compliance could chart a new course for the exchange amid recent legal upheavals. On November 21, 2023, the operator of the Binance cryptocurrency exchange – Binance Holdings Limited – and its head Changpeng Zhao pleaded guilty to a number of charges brought by American regulators. The founder of the exchange, in turn, left the post of CEO and agreed to pay $50m. His place was taken by Richard Teng, formerly the head of regional markets of Binance. Early years of Richard Teng Teng was born in Singapore in 1971. He obtained a Master’s degree in Applied Finance from Western Sydney University and graduated with honors in Accounting from Nanyang Technological University. Additionally, Teng participated in the Wharton School of Business’s executive education program. 30 years in financial services According to official information, Richard Teng joined the Binance team in August 2021 as the CEO of Binance Singapore...

Following the $4.3 billion fine by the U.S. Department of Justice (DoJ), Binance’s outflow has surpassed the $1 billion mark over the past week. According to data provided by DeFi Llama, Binance witnessed a negative net outflow of $1.2 billion in the past seven days. This comes while the largest crypto exchange saw a $462 million outflow in the past 24 hours alone, per the data aggregator.  CEX data – Nov. 23 | Source: DeFi Llama Nansen reported on Nov. 22 that Binance’s outflow s continue while a mass exodus of funds has not yet occurred. You might also like: SEC Commissioner on spot Bitcoin ETFs: “No reason to block” Per DeFi Llama, only Bitstamp saw a higher outflow of funds in the past 24 hours than Binance — reaching a negative net flow of $498.59 million. Huobi comes third, after Binance, with a total outflow of almost $79 million over the past day.  Moreover, the total amount of Binance’s clean assets — funds excluding the exchange’s own to...

Crypto flips red, with Bitcoin falling below $37k and BNB tanking 7% to $240 amid reports Binance CEO may resign’ A report by Forbes suggest the DOJ will make an announcement to that effect today. The cryptocurrency market was retracing sharply on Tuesday afternoon as report s surfaced that Changpeng Zhao, the founder and CEO of Binance , may step down as part of a settlement with the US Department of Justice (DOJ). CZ’s resignation could be part of DOJ’s anticipated announcement later on Tuesday, according a report by Forbes. Richard Teng  is allegedly poised to take over. Richard Teng A Top Contender For New Binance CEO As CZ Steps Down: by @DavidJeans2 https://t.co/4iZfIsb37c — Forbes Crypto (@ForbesCrypto) November 21, 2023 Amid the rumours and allegations, Bitcoin price fell below $37k and altcoins took a dive as Ethereum lost the $2k mark.  BTC fell 3% to $36,797 and ETH 4% to $1,968, while Binance ’s nativ...

A crypto wallet lost $27 million in USDT following a hack. The funds were later transferred to Bitcoin via THORChain. On-chain analyst ZachXBT first noticed the breach. The hacker promptly converted the stolen Tether coins into Ethereum (ETH). Later, they were transferred through FixedFloat, ChangeNow, and other services. Ultimately, the funds were transferred to Bitcoin (BTC) using the THORChain protocol. It appears someone had 27M USDT stolen yesterday. 0x0f2183c8e415e61b4ad7774bf1097019eb2d5b85798a2a229070495131d60321 USDT was quickly swapped for ETH, then transferred to a number of services (FixedFloat, ChangeNow, etc), and bridged to Bitcoin via THORChain. pic.twitter.com/SgEBwyZZSc — ZachXBT (@zachxbt) November 12, 2023 A week ago, funds were withdrawn from the Binance exchange to the hacked wallet , ZachXBT notes. In May 2019, the address also received funds from the mentioned cryptocurrency platform. A week earlier, an unknown hacker attacked the Poloniex cryptocur...

The move comes after the Financial Conduct Authority imposed restrictions on its U.K. partner REBS. Crypto exchange Binance will stop accepting users in the United Kingdom as of 5 p.m. local time on Oct. 16. According to Binance's announcement, the move came after the country's Financial Conduct Authority (FCA) imposed legally binding requirements on its partner Rebuildingsociety.com Ltd (REBS) on Oct. 10. Among other items, the ruling prohibited REBS from ad promotions soliciting Binance goods and services. The exchange wrote: "Binance is currently looking for a new FCA authorised approver. However, there will be some temporary restrictions coming into effect on our Platform (i.e. www.binance.com/en-GB and latest version of our Mobile App) during the period until Binance onboards with a new FCA authorised approver and has its financial promotions reapproved." Existing Binance users in the U.K. will retain their services. However, the exchange clarified that ...

Binance’s founder says challenges related to fiat ramps can prevent the market from onboarding the next 100 million users . Trouble seems to be brewing on the horizon for the crypto market as tight regulations forced traditional institutions to pull away from the industry, Binance founder Changpeng Zhao (CZ) told Insider at the Token2049 crypto event. Speaking about possible difficulties barring another 100 million users from entering the market , CZ said converting crypto to fiat and vice versa appears to be the main issue nowadays. “With tightening regulations in the earlier part of this year, we’re seeing a lot of traditional institutions that used to provide fiat ramp channels pull away.” Changpeng Zhao For Binance, crypto-to-fiat ramps have become a hot topic recently as weekly trading volume with traditional currencies on the platform has plummeted 60% since the beginning of 2023, according to Kaiko data. You might also like: Binance US l...

The restaurant was being built alongside a private members lounge that was only open to people who bought NFTs, but rising construction costs ultimately stopped the project from coming to fruition. Bold plans for a non-fungible token linked restaurant and private members lounge in San Francisco have come to an abrupt end, after the company behind the project halted construction due to challenging macroeconomic factors. The two venues were being built on Salesforce Park, and were going to be dubbed the “Sho Restaurant” and “Sho Club Sky Lounge.” The latter was only going to be accessible to holders of the Sho Club NFTs, which cost anywhere from $7,500 to $300,000, and offered access to other future Sho Group hospitality offerings. Speaking with San Francisco-focused news website SFGATE on Sept. 7, Sho Group CEO Joshua Sigel stated that it was no longer possible to build the project, and confirmed that the company ended its lease agreement in July. Early rendition of the restaurant an...