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Binance Implements Faster Crediting of Deposits on Ethereum, Arbitrum, and Optimism Networks
Crypto Exchanges

Binance Implements Faster Crediting of Deposits on Ethereum, Arbitrum, and Optimism Networks

Binance, the world's leading cryptocurrency exchange, has announced a significant reduction in the minimum number of blocks required for crediting deposits on the Ethereum, Arbitrum, and Optimism networks. This move comes as part of the exchange's ongoing efforts to improve user experience and streamline transaction processes. Effective immediately, the minimum number of blocks needed for crediting deposits on the Ethereum network has been reduced from 12 to 6 blocks. Consequently, the time required for deposit transactions to be confirmed and reflected in users' accounts has been substantially decreased from an average of around 25 minutes to approximately 13 minutes. This development marks a major milestone in enhancing the efficiency of Ethereum-based transactions on Binance. Read...
Binance Completes 24th Quarterly BNB Token Burn, Removing 1,991,854 BNB from Circulation
Crypto Exchanges

Binance Completes 24th Quarterly BNB Token Burn, Removing 1,991,854 BNB from Circulation

Binance, one of the world's largest cryptocurrency exchanges, has completed its 24th quarterly BNB token burn. According to an official announcement made via Twitter, a staggering 1,991,854 BNB was permanently removed from circulation through the BNB Auto-Burn mechanism. https://twitter.com/binance/status/1681604828127019008 The quarterly token burn is a vital aspect of Binance's commitment to the tokenomics of its native cryptocurrency, Binance Coin (BNB). The exchange allocates a portion of its trading fee revenue to buy back BNB from the market, and these purchased tokens are subsequently destroyed, reducing the total supply of BNB in existence. Read Also: Binance Temporarily Suspends Market Order Functions Due to Technical Issues The latest token burn, involving nearly 2 mi...
Binance Temporarily Suspends Market Order Functions Due to Technical Issues
Crypto Exchanges

Binance Temporarily Suspends Market Order Functions Due to Technical Issues

Binance, one of the world's leading cryptocurrency exchanges, has temporarily halted some market order functions for all spot and margin trading pairs. The suspension comes as a result of technical issues that were identified following a previous update to the platform. In a recent tweet, Binance announced the temporary suspension of two market order functions: Market Order-Total and the slider for Amount Customization. Traders and users on the exchange are advised that these specific functions are currently unavailable. However, Binance clarifies that market orders can still be placed using the Market Order-Amount feature. Read Also: Terra Blockchain Successfully Upgrades to v.2.4 Pushing for LUNA Adoption Binance suspends market order to address a technical issue The decision to ...
FTX Launches Debtors’ Customer Claims Portal, Offering Hope for Crypto Refunds
Crypto Exchanges

FTX Launches Debtors’ Customer Claims Portal, Offering Hope for Crypto Refunds

In a significant development for those affected by the collapse of FTX, one of the prominent cryptocurrency exchanges, the long-awaited refund process has finally commenced. AxelBitblaze, a renowned crypto commentator, took to Twitter to announce the launch of the Debtors' Customer Claims Portal, offering both individual and institutional users the opportunity to potentially recover their crypto assets. Read Also: CBOE Bitcoin ETF Applications Forge Surveillance-Sharing Agreements with Coinbase, Await SEC Decision https://twitter.com/Axel_bitblaze69/status/1678835437329330176 The downfall of FTX, which occurred in late 2022, left many users in distress. Investigations revealed that SBF_FTX, the mastermind behind the exchange, had been utilizing customer deposits to cover losses wi...
Building Strong Team: The Power of External Pressure – Insights from Binance CZ
Crypto Exchanges

Building Strong Team: The Power of External Pressure – Insights from Binance CZ

Building a tight and strong team is a common goal for many organizations. While various team-building activities and strategies exist, Binance CEO Changpeng Zhao (CZ) shares a counter-intuitive "secret" to fostering a strong team: external pressure. This approach draws inspiration from experiences in military combat and highlights the importance of reliance, alliance, resilience, and trust among team members. CZ believes that Binance's ability to thrive under pressure has contributed to its tight-knit team and the unwavering support of its community. This article explores the concept of external pressure as a catalyst for team cohesion, using CZ's insights as a guiding example. Read Also: Terra Classic Validator Launches Ambitious LUNC Burning Initiative to Propel Token Price to $1 h...
Binance CEO Responds to Rumors of Employee Departures Amid Regulatory Investigations
Crypto Exchanges

Binance CEO Responds to Rumors of Employee Departures Amid Regulatory Investigations

Changpeng Zhao (CZ), the CEO of Binance Exchange, has addressed the recent rumours surrounding employee departures at the company. The speculations gained traction on news outlets and social media platforms over the past 24 hours, primarily focusing on the reported reasons behind the resignations. Executives at Binance Plan to leave due to CZ's response According to an article by Fortune, citing unnamed sources, several Binance executives, including general counsel Han Ng, Hillmann, and Christie, have chosen to leave their positions at the exchange due to CZ's response to investigations by regulators in the United States. In response to the rumours, Hillmann and Christie took to Twitter to confirm their departures but did not explicitly mention the exchange's regulatory challenges. Ch...
Binance Welcomes Verge (XVG) as a New Borrowable Asset on Isolated Margin, Introducing the XVG/USDT Trading Pair
Crypto Exchanges

Binance Welcomes Verge (XVG) as a New Borrowable Asset on Isolated Margin, Introducing the XVG/USDT Trading Pair

Binance, the world's leading cryptocurrency exchange, has once again made waves in the crypto space by announcing the addition of Verge (XVG) as a new borrowable asset on an Isolated Margin. This move opens up exciting possibilities for traders and enthusiasts alike, as Binance introduces the highly anticipated XVG/USDT trading pair. Binance adds Verge (XVG) on its isolated margin The integration of Verge (XVG) into Binance's Isolated Margin trading platform signifies another significant step towards the platform's mission to offer a diverse range of digital assets to its global user base. With Verge joining the ranks of Binance's expansive list of supported cryptocurrencies, users now have greater flexibility and trading opportunities. Read Also: Shiba Inu Community Anticipates Shiba...
Binance Announces PENDLE As The 35th Project On Its Launchpool Platform
Crypto Exchanges

Binance Announces PENDLE As The 35th Project On Its Launchpool Platform

Binance, one of the world's leading cryptocurrency exchanges, has recently announced the addition of Pendle (PENDLE) as the 35th project on its Launchpool platform. Pendle is a unique yield-trading protocol that allows users to separate a yield-bearing asset into its principal and yield components, enabling them to earn fixed or flexible yields. Read Also: Vitalik Buterin Reveals Concerns about ETH Staking Protocol, Cardano's Charles Hoskinson Expresses Amazement https://twitter.com/binance/status/1675807633549172736 Detail On Binance PENDLE The launch of Pendle on Binance Launchpool is scheduled to take place soon, with the webpage estimated to be available in approximately four hours. Users will have the opportunity to stake their Binance Coin (BNB) and TrueUSD (TUSD) tokens sepa...
Israel’s Ministry of Defense Seizes Millions in Cryptocurrency Intended for Terrorist Financing, with Support from Binance
Crypto Exchanges

Israel’s Ministry of Defense Seizes Millions in Cryptocurrency Intended for Terrorist Financing, with Support from Binance

In a historic achievement in the fight against terrorism, Israel's Ministry of Defense, with crucial assistance from Binance, a leading cryptocurrency exchange, successfully disrupted a significant terrorist financing operation orchestrated by the Hezbollah terror group. The operation not only represents a major victory in counter-terrorism efforts but also deals a blow to the funding activities of Iran's Islamic Revolutionary Guard Corps - Quds Force (IRGC-QF) on the blockchain. Read Also: Shiba Inu (SHIB) Makes Strides in Credibility and Adoption with Recent Developments https://twitter.com/binance/status/1674451617599332353 Binance, known for its commitment to combat illicit activities within the global cryptocurrency ecosystem, played a key role in identifying and thwarting th...
Binance Empowers Global Law Enforcement with Cybercrime Combat Training in Kazakhstan
Crypto Exchanges

Binance Empowers Global Law Enforcement with Cybercrime Combat Training in Kazakhstan

 In its ongoing effort to combat cybercrimes and promote global security, the renowned cryptocurrency exchange, Binance recently concluded a four-day training program in Kazakhstan. The Binance Law Enforcement Training team organized and facilitated the comprehensive sessions, which aimed to equip law enforcement agencies with the necessary skills to address the growing challenges posed by cybercriminals. Read Also: Former Terra Classic (LUNC) Developer Zaradar Mocks Price Logic, Ignites Fuss in Community https://twitter.com/binance/status/1672363910802862080 Binance Collaborates with Kazakhstan Govt To Hold Training Program  As the digital landscape continues to evolve, cyber crimes have become an increasingly prevalent threat. Recognizing the urgent need for collaboration between...