Crypto exchange Binance is closing down all exchange services and business lines in Russia. The company has entered into a sales agreement with Commex. A Binance executive explained that operating in Russia is not compatible with the company’s compliance strategy. “We remain confident in the long-term growth of the Web3 industry around the world and…
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Crypto exchange Binance has issued a recommendation for customers using the services of Paysafe for euro (EUR) transfers. The crypto trading platform is advising users to convert their euro balances to tether (USDT) or withdraw them to bank accounts after the payment processor suspended deposits and withdrawals in the common European currency. Binance Urges Traders…
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On September 27, 2023, statistics indicate that 13 cryptocurrency exchanges possess assets under management (AUM) exceeding $1 billion, collectively constituting 14.39% of the crypto economy’s total value of $1.05 trillion. Among these 13 digital currency trading platforms, Binance stands out by maintaining a 42.81% share of the $151.08 billion in cryptocurrency reserves. A Handful of…
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Binance’s European debanking woes continue as it urges Paysafe users to convert their euros to digital dollars. Crypto exchange Binance has urged users to convert their euros into Tether (USDT) before the end of October after losing the support of its banking partner. On Sept. 28, Binance urged European Paysafe users to convert their EUR…
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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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Cryptocurrency exchange Binance is now accepting new registrations of Belgian users following an interruption caused by regulatory actions against it. In June, the trading platform was ordered to cease providing crypto exchange and custody services in the EU country. Binance Returns to Belgium 3 Months After Pausing Services Under Regulatory Pressure The world’s largest crypto…
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Binance and Mitsubishi UFJ Trust and Banking Corporation (MUTB) are exploring the issuance of Japanese yen and other foreign currency-denominated stablecoins in Japan. Crypto exchange Binance is teaming up with Japan’s largest bank, the Mitsubishi UFJ Trust and Banking Corporation (MUTB), to explore the issuance of stablecoins in Japan. On Sept. 25, Binance Japan announced…
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The announcement of yet another top figure departing Binance coincided with an increased outflow of funds from the crypto platform. But can one executive resignation really have such an impact? On Sept. 13, news broke of yet another high-level executive parting ways with Binance.US. This time, it was none other than Brian Shroder, the CEO…
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On September 22, 2023, Arkham Intelligence unveiled that it has identified addresses tied to a staggering $25 billion from Coinbase’s bitcoin (BTC) holdings. This cache represents the most substantial BTC reserve on Arkham. The firm points out that this trove is nearly on par with Satoshi Nakamoto’s legendary 1 million coins. Coinbase’s Crypto Cache Tops…
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Crypto exchange Binance and its CEO Changpeng Zhao (CZ) have filed a motion to dismiss the lawsuit against them by the U.S. Securities and Exchange Commission (SEC). “It is clear that the SEC’s lawsuit has no foundation in the currently enacted securities laws,” they argued, alleging: “In attempting to claim regulatory power over the crypto…
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