A significant number of Binance’s Russian clients have migrated to alternative platforms, not only to the platform’s new owner CommEx. The shift is evident from the decreased activity in peer-to-peer (p2p) operations, Dmitry Stepanin, the CEO of Satoshkin, said in a recent interview with local news outlet Kommersant. Stepanin added that professional p2p traders have reported a decrease…
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The move is part of a phased termination of BUSD support by February 2024. Crypto exchange Binance will cease borrowing and lending services for its native stablecoin Binance USD (BUSD) by October 25. According to the October 3 announcement, the exchange will close all outstanding BUSD loan and collateral positions by the end of the…
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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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As markets continue to move sideways, crypto companies are trying to increase user engagement through airdrops. Among them are some well-known names in the space as well as new projects searching for their place. They all seek to arouse interest in digital money and their own products with giveaways of coins and tokens. From Binance…
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Paradigm claimed the SEC is attempting to use the allegations in its complaint to alter the law without adhering to the established rulemaking process. Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its current legal action against the cryptocurrency exchange Binance. In…
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CommEx, the firm that has recently acquired Binance’s Russian division, has said that it is not owned by Binance but disclosed that some of its core members are the exchange’s previous employees. In a Friday open letter, CommEx claimed it is an independent entity separate from Binance despite refraining from disclosing its ultimate beneficial owner (UBO). “Although we…
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This week’s Crypto Biz explores Kraken’s securities arm, Gemini’s expansion in India, Binance’s return to Belgium, and an oil company in Argentina investing in crypto mining. Cryptocurrency exchanges are adopting alternative strategies to conduct business in the face of tighter crypto regulatory environments worldwide. Signs are everywhere. Kraken is reportedly moving to offer securities trading in…
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In the last Bitcoin news, the price of the first cryptocurrency by market cap has been experiencing some gains on low timeframes. However, traders on the crypto exchange Binance were surprised when the BTC price suddenly dropped. As of the writing of this Bitcoin news, the cryptocurrency’s price trades above $27,000 for the first time…
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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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