Crypto Exchanges Archives - Cryptolifedigital

Binance Prioritizes Stability, Converts SAFU Funds to USDC

20Apr

By Tolulope ZaccheausNo Comments

Crypto Exchanges

Binance Prioritizes Stability, Converts SAFU Funds to USDC

Amidst heightened cryptocurrency volatility leading up to the Bitcoin halving, Binance, the world's leading crypto exchange, has announced a significant change to its emergency insurance fund, the Secure Asset Fund for Users (SAFU). SAFU Goes Stablecoin: 100% Conversion to USDC To enhance reliability and stability, Binance has fully converted SAFU's assets to USDC, a US dollar-backed stablecoin issued by Circle Internet Financial. This move away from Bitcoin and Binance's native token BNB highlights a strategic shift towards a more stable reserve for user protection. Read Also: Bitcoin Successfully Halves, But Price Impact Remains Unclear "We are transferring 100 per cent of SAFU's assets to USDC," stated Binance. "A trusted, audited, and transparent stablecoin strengthens SAFU's r...

PayPal Introduces Stablecoin-to-Fiat Option, Simplifying International Money Transfers

4Apr

By Kayode Oke MichaelNo Comments

Crypto Exchanges

PayPal Introduces Stablecoin-to-Fiat Option, Simplifying International Money Transfers

PayPal, the payment giant, has announced that its customers in the US can now use its stablecoin to fund international payments. The company's virtual token, PayPal USD (PYUSD), runs on Ethereum and is a dollar-pegged stablecoin backed by cash equivalents and short-term treasuries. Paxos Trust Co. issued the token, and PayPal launched it last year. Read Also: A Golden Chance For Wealth As Dogecoin, Others Make Double Digit Gain PYUSD's market cap is currently at $109 million, making it smaller than other stablecoins such as Tether's USDT, which has a market cap of $106 billion. Customers can now convert PYUSD to dollars and then send money to recipients in approximately 160 countries via PayPal's Xoom payment platform, with no fees. PayPal's SVP of the blockchain, cryptocurrency, ...

Changpeng Zhao’s Rollercoaster Year: From Legal Challenges to Surging Wealth

27Dec

By OLAJIDE SAMUELNo Comments

Crypto Exchanges

Changpeng Zhao’s Rollercoaster Year: From Legal Challenges to Surging Wealth

Changpeng Zhao, commonly known as CZ, has navigated a tumultuous yet financially rewarding year in 2023, witnessing a remarkable surge in his net worth despite legal challenges and significant changes in his professional roles. As of 2023, CZ has secured the 35th position on the Bloomberg Billionaires Index, experiencing a staggering $24 billion increase in his net worth over the year. This surge is a testament to Zhao's enduring impact on the cryptocurrency industry, solidifying his status as one of its most notable figures. Read Also: XRP Community Divided: Ethical Dilemmas Arise Over Proposed Escrow Burn Zhao's journey in the crypto space began in 2013, with key roles in projects like Blockchain.info and serving as the Chief Technology Officer (CTO) of OKCoin. However, his pivo...

Binance Undergoes Leadership Change Amidst DOJ Charges, CZ Steps Down as CEO

23Nov

By CryptolifedigitalNo Comments

Crypto Exchanges

Binance Undergoes Leadership Change Amidst DOJ Charges, CZ Steps Down as CEO

In a surprising turn of events, Changpeng Zhao, widely known as "CZ," announced his official resignation as CEO of Binance via Twitter on Tuesday. This development coincides with the United States Department of Justice unveiling charges against Zhao and the cryptocurrency exchange. Stepping into the role of CEO is Richard Teng, the former Global Head of Regional Markets at Binance. Read Also: DFLunc's Unprecedented LUNC Burns Surpass 4 Billion Units, Setting the Standard for Terra Classic Validators https://twitter.com/cz_binance/status/1727690145166750044 CZ's Departure and DOJ Charges The cryptocurrency industry was rocked by CZ's announcement of stepping down from his position as CEO of Binance. The timing of this decision aligns with the United States Department of Justice reve...

Binance Unveils Exclusive Promotion with 13% APR on USDT Simple Earn Flexible Products

14Nov

By OLAJIDE SAMUELNo Comments

Crypto Exchanges

Binance Unveils Exclusive Promotion with 13% APR on USDT Simple Earn Flexible Products

In an exciting move, Binance, one of the world's leading cryptocurrency exchanges, has announced a new promotion for its users. The promotion, centred around USDT on Simple Earn Flexible Products, offers participants an exclusive Annual Percentage Rate (APR) of 13%. This enticing opportunity allows users to maximize their returns on USDT holdings within the Simple Earn framework. Read Also: Shiba Inu (SHIB) Announces Exciting Developments: 3,000 Free NFT Covers Await Subscribers https://twitter.com/binance/status/1724337903944208638 What is Simple Earn? Simple Earn is a feature on the Binance platform that enables users to earn passive income on their cryptocurrency holdings. It offers flexible and fixed-term products with varying APRs, providing users with options that suit their ...

Exclusive Training Opportunity with Cristiano Ronaldo: Binance’s Once-in-a-Lifetime Offer

9Oct

By OLAJIDE SAMUELNo Comments

Crypto Exchanges

Exclusive Training Opportunity with Cristiano Ronaldo: Binance’s Once-in-a-Lifetime Offer

In a groundbreaking announcement, Binance, one of the world's leading cryptocurrency exchanges, revealed its collaboration with the legendary football icon, Cristiano Ronaldo. This partnership promises a once-in-a-lifetime opportunity for sports enthusiasts and cryptocurrency enthusiasts alike. The news, shared by Binance on social media just two hours ago, has sent shockwaves across the globe. Read Also: Can 1 BIG PUMP change everything in the LUNC network? https://twitter.com/binance/status/1711350808325845035 Facts about Cristiano Ronaldo Cristiano Ronaldo, often hailed as one of the greatest footballers of all time, is renowned for his dedication, discipline, and unmatched skills on the field. Now, he is teaming up with Binance to offer a unique training experience to lucky ind...

Binance Announces Sale of Russian Business to CommEX, Paves Way for Future Growth

27Sep

By OLAJIDE SAMUELNo Comments

Crypto Exchanges

Binance Announces Sale of Russian Business to CommEX, Paves Way for Future Growth

In a significant development for the cryptocurrency industry, Binance, one of the world's largest cryptocurrency exchanges, has agreed to divest its entire Russian business operations to CommEX (https://commex.com). The decision reflects Binance's strategic focus on compliance and its commitment to adhering to regulatory standards across the globe. https://twitter.com/binance/status/1706944096688885895 The transition process, aimed at ensuring a seamless experience for existing Russian users, is expected to span up to one year. Crucially, Binance has assured its Russian user base that all its assets are safe and securely protected during this period of transition. Read Also: Terra ClassicUSD (USTC) Community Approves Proposal to Halt Minting and Reminting, Aims to Restore Stabilit...

Binance Charity Commits Substantial Aid to Morocco’s Earthquake Victims

12Sep

By CryptolifedigitalNo Comments

Crypto Exchanges

Binance Charity Commits Substantial Aid to Morocco’s Earthquake Victims

Morocco - In the wake of Morocco's most devastating earthquake in a century, which struck on September 8, 2023, with a destructive magnitude of 6.8, the death toll has tragically surpassed 2,000 people. However, a ray of hope has emerged as Binance Charity has declared its unwavering commitment to assist the affected regions in their recovery efforts. Binance Charity's Pledge Binance Charity has pledged to provide critical support to underprivileged communities in Morocco affected by this catastrophic event. Their mission is to offer immediate relief enhance transparency in charitable work and foster a positive impact on society. Read Also: Reviving $LUNC: Strategies for a Comeback To identify eligible beneficiaries, Binance Charity will employ a Proof of Address (POA) validation p...

Binance Japan K.K. Launches, Offering Japanese Users Unprecedented Access to Tradable Tokens and Innovative Financial Products

1Aug

By Adaralegbe Tosin MNo Comments

Crypto Exchanges

Binance Japan K.K. Launches, Offering Japanese Users Unprecedented Access to Tradable Tokens and Innovative Financial Products

Tokyo, Japan - In a major development for the cryptocurrency industry, the world's leading digital asset exchange, Binance, has officially launched in Japan as Binance Japan K.K. The launch marks a significant milestone for the company and the Japanese crypto community, granting users in the country access to an extensive range of tradable tokens, solidifying Binance's position as the premier exchange for Japanese investors. Binance Japan launches to offer users Unprecedented Access to Tradable Tokens With the launch of Binance Japan K.K., Japanese users gain unparalleled access to a diverse selection of tradable tokens, surpassing any other exchange in the country. This development is set to revolutionize the local cryptocurrency landscape, allowing traders to explore new investment opp...

Binance Launches Seigniorage Elasticity Index Token (SEI) on Launchpool

1Aug

By Tolulope ZaccheausNo Comments

Crypto Exchanges

Binance Launches Seigniorage Elasticity Index Token (SEI) on Launchpool

Binance, the world's leading cryptocurrency exchange, has once again demonstrated its commitment to promoting innovative projects in the crypto space by introducing the Seigniorage Elasticity Index Token (SEI) on its Launchpool platform. The launch of SEI on Launchpool provides Binance users with a unique opportunity to farm SEI tokens by staking Binance Coin (BNB), TrueUSD (TUSD), and Fractional Dollar (FDUSD) on the platform. https://twitter.com/binance/status/1686288229056528384 Binance to introduce Seigniorage Elasticity Index Token (SEI) on the Launchpool SEI is a groundbreaking decentralized finance (DeFi) token that leverages the concept of seigniorage elasticity to maintain its price stability. This mechanism allows the token's supply to expand or contract in response to marke...