Binance CEO Changpeng Zhao and Binance.US are facing a class-action lawsuit filed by a California resident Nir Lahav for their alleged role in causing the downfall of rival exchange FTX. The lawsuit further accuses them of various violations of federal and California law related to unfair competition and attempts to monopolize the cryptocurrency market. The…
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A California resident is suing Binance and its CEO for tweets last November that, according to allegations, led to the collapse of the rival exchange. A class-action suit was filed against Binance.US and Binance CEO Changpeng Zhao on Oct. 2 in the District Court of Northern California alleging various violations of federal and California law…
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Binance’s buyer in Russia, CommEx, has been developing its platform for six months and has onboarded some ex-Binance employees, the firm said. Amid growing skepticism about CommEx — the mysterious buyer of Binance’s Russian division — the newly launched firm has continued denying Binance’s ownership involvement. On Sept. 29, CommEx issued an open letter to…
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Binance, the world’s largest cryptocurrency exchange, has seen a sharp drop in market share among non-dollar crypto exchanges. According to data by The Block, Binance’s market share among a group of exchanges that includes major Asian players like Upbit, Huobi, Bybit, and OKX hit 54% in August and is projected to further drop to under 51% in…
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Binance CEO Changpeng Zhao has refuted claims that he received a $250 million loan from BAM Management, the holding company of Binance.US, saying that it was the other way around. In a Wednesday tweet, the crypto boss said he “loaned $250 million to BAM a while back, not the other way around.” CZ even claimed that he has not…
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Binance founder Changpeng Zhao has commented on the latest executive departures from his company’s American branch. The changes in the U.S. crypto trading firm’s management, including the release of its chief executive, followed similar developments at the global exchange. CZ Urges Followers to Ignore Binance US FUD, Says Regulatory Environment Requires New Head Binance founder…
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BNB Chain, the Binance-backed decentralized blockchain network, has announced the launch of Opbnb, its expansion layer built using the Optimism OP stack. The new network allows users to enjoy low-fee transactions in a high-throughput, high-speed transactional layer optimized for interactive applications such as games, with the BNB Chain chain serving as a settlement layer.
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Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange by trading volume Binance, said that Singapore’s approach to digital assets has become more “conservative,” particularly after the spectacular collapse of the now-defunct FTX exchange. The top crypto influencer spoke virtually at a conference in Singapore on Thursday, commenting on the city-state’s crypto-friendly yet cautious move…
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Binance said it will issue a series of airdrops worth up to $100 in BNB to users located in Morocco’s highly impacted Marrakech region. Cryptocurrency exchange Binance has pledged millions of dollars in BNB (BNB) as aid relief for those affected by the large earthquake that struck Morocco on Sept. 8, causing at least 2,000…
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Binance has faced a series of negative news reports in recent weeks. However, the cryptocurrency exchange’s leader, Changpeng Zhao, known as CZ, used social media to assure the community that the reports were just fear, uncertainty, and doubt (FUD). Despite the departure of some top executives, CZ said Binance likely has “the lowest founding team…
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