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Binance Undergoes Leadership Change Amidst DOJ Charges, CZ Steps Down as CEO
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
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 ...
Binance Announces Sale of Russian Business to CommEX, Paves Way for Future Growth
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 Conducts Batch 12 LUNC Burn, Reducing Terra Classic’s Total Supply Below 6.84T
Terra Classic (LUNC)

Binance Conducts Batch 12 LUNC Burn, Reducing Terra Classic’s Total Supply Below 6.84T

In a show of continued support for the Terra Classic ecosystem, Binance, the world's largest crypto exchange by trading volume, conducted its batch 12 LUNC burn on August 1. The burn resulted in the permanent removal of over 1.41 billion LUNC tokens from circulation in a single transaction. This move successfully reduced Terra Classic's total supply below 6.84 trillion tokens. Read Also: Binance Japan K.K. Launches, Offering Japanese Users Unprecedented Access to Tradable Tokens and Innovative Financial Products Binance conducts 12 LUNC Burn On-chain data revealed that Binance burned exactly 1,412,760,563 LUNC at I:36 PM UTC on Tuesday. The burned amount accounted for 50% of Binance's trading fees on LUNC spot and margin trading pairs, which were accumulated between June 30 and July 3...
Binance Japan K.K. Launches, Offering Japanese Users Unprecedented Access to Tradable Tokens and Innovative Financial Products
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
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...
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 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...
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...