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Tag: Binance

Binance founder Zhao steps down
News Tech

Binance founder Zhao steps down

Changpeng “CZ” Zhao is leaving his position as CEO of Binance as part of a significant $4 billion deal with the Department of Justice and the cryptocurrency exchange he founded, Forbes reported on Tuesday. The move follows a Tuesday settlement with the Office of Foreign Assets Control, the Financial Crimes Enforcement Network of the Department […]

Canada fines Binance $4.38m for money laundering
News Tech

Binance halts new sign ups in UK

The cryptocurrency exchange Binance said on Monday that it will stop taking on new signups in the UK. The change complies with a new legislation that limits countrywide promotions from foreign digital asset enterprises. According to a message on Binance’s website, new users in the UK won’t be allowed to register on the platform after […]

News Tech

Binance exits Russia amid war with Ukraine

Binance announced on Wednesday that it will sell its operations in Russia to the recently created exchange CommEX. The crypto platform became the latest company to leave Moscow since Russia started its conflict with Ukraine. The largest cryptocurrency exchange in the world, Binance, withheld the deal’s financial information. According to the corporation, neither a revenue […]

Binance's head of product Mayur Kamat resigns
News Tech

Binance’s head of product Mayur Kamat resigns

Mayur Kamat, the global head of product for Binance, has left the cryptocurrency exchange amid a wave of executive departures and employment cuts. Kamat’s departure from Binance comes after a recent management exodus that also involved General Counsel Hon Ng and Chief Strategy Officer Patrick Hillmann. In recent months, the Bitcoin exchange has been under […]

Mastercard forecasts 6% rise in Nigeria's diaspora remittance
News Tech

Mastercard cuts ties with Binance

Mastercard and cryptocurrency exchange Binance will discontinue their four crypto card programmes in Argentina, Brazil, Colombia, and Bahrain, from September 22, Earlier on Thursday, the exchange’s customer care account on X, formerly known as Twitter, said that the card “will no longer be available to users in Latin America and the Middle East.” By using […]

Binance files protective court order against SEC
Crypto

Binance files protective court order against SEC

Global cryptocurrency company, Binance, made a bold move seeking refuge under a protective court order against the US Securities and Exchange Commission. This audacious maneuver comes in direct response to what Binance terms the regulator’s relentless pursuit of information through “overbroad” and “unduly burdensome” requests. In an emphatic legal salvo, BAM Trading, the operational nucleus […]

Binance records $90 billion Crypto trade in China amidst ban
Crypto

Binance records $90 billion Crypto trade in China amidst ban

The world’s largest cryptocurrency exchange, Binance, reportedly facilitated a staggering $90 billion worth of cryptocurrency trades in China. Meanwhile, crypto trading has been banned in China since 2021. The transactions, unveiled by the Wall Street Journal on Tuesday, were detailed in internal figures and confirmed by current and former Binance employees. Curiously, this bustling trading […]

Canada fines Binance $4.38m for money laundering
News Tech

Binance withdraws German license app

The world’s largest cryptocurrency exchange, Binance, may be reconsidering its expansion plans after withdrawing its application for a crypto license in Germany. “Binance confirms it has proactively withdrawn its BaFin (Germany’s financial regulator) application. The situation, both in the global market and regulation, has changed significantly,” a Binance spokesman said on Wednesday. “Binance still intends […]

Naira plunges to record low against pounds
Economy

Naira crashes to N888/$1 on Binance

The naira/dollar exchange rate has fallen to N888/$1 on the cryptocurrency market, Binance. Currency limitations have previously been noted as a significant barrier for international companies wishing to engage in Nigeria, the continent’s top oil producer. Despite the fact that the CBN’s decision to loosen the currency peg was made to address this problem, the demand […]

Ex-Binance CEO sentenced to four months in jail
News Tech

Binance lays off over 1000 employees

The cryptocurrency exchange Binance has laid off some staff days after key executives left the company. “Over the last six years, we have grown from 30 to a team of almost 8,000 across the globe. As we prepare for the next major bull cycle, it has become clear that we need to focus on talent […]

Crypto featured

Binance unveils new investment platform

Crypto firm, Binance, has unveiled a new cryptocurrency investment called Binance Smart Chain to provide investors with a daily percentage dividend of 3%. The investment company stated that only consumers who participated in its presale were eligible for the three percent daily percentage. According to a statement made by the company, BSC Stake was an […]

Business

Binance to establish industry recovery fund

Cryptocurrency exchange currency, Binance has announced its intention to establish an industry recovery fund in the wake of the FTX crisis. According to Nairametrics, recent tweets from CEO of Binance, Changpeng Zhao, caused dramatic price jumps across the cryptocurrency market. Mr. Zhao announced the formation of an industry recovery group to support initiatives that are […]