Recent reports have sparked a controversy surrounding Binance, one of the world’s largest cryptocurrency exchanges, and its alleged ties to China. The Wall Street Journal (WSJ) claimed that China accounted for a significant portion of Binance’s trading volume, but the exchange has vehemently denied this. In this article, we will analyze the conflicting statements and
Exchanges
Binance, a beleaguered cryptocurrency exchange, has recently made strides in expanding its reach in Japan. Its Japanese subsidiary, Binance Japan, has launched a new platform dedicated to onboarding new customers in the Asian country. This move comes as Binance faces increasing regulatory challenges from various jurisdictions, prompting its exit from several countries. In November 2022,
The Nigerian Securities and Exchange Commission (SEC) has once again warned that Binance’s operations within the country are illegal, as stated in their recent notice issued on July 28. In this notice, the regulator specifically addresses Binance’s official website, emphasizing that it is not registered or regulated by the Commission and therefore operating illegally in
Binance, one of the largest cryptocurrency exchanges in the world, has launched a legal defense against the charges filed by the U.S. Commodity Futures Trading Commission (CFTC). The exchange asserts that the regulator acted outside its jurisdiction and failed to establish personal jurisdiction over the defendants. In response, Binance has called for the dismissal of
In response to recent rumors, KuCoin, a prominent cryptocurrency exchange, has officially denied any plans for a mass layoff. The speculation originated from a report by Wu Blockchain, citing internal sources who claimed that KuCoin intended to reduce its workforce by 30%. The report suggested that the alleged job cuts were a consequence of declining
Binance France, a popular cryptocurrency exchange, recently released its audited financial records, revealing a loss of €4 million for a period of 14 months from November 2021 to December 2022. The total expenses incurred by the exchange during this timeframe amounted to €14 million, covering various aspects such as staff payroll, marketing, administrative costs, taxes,
In a surprising move, leading crypto exchange Binance has announced a reduction in employee benefits, effective from June 19. This decision comes as a response to the company’s declining profit margins, forcing them to make difficult cost-cutting choices. Binance has decided to withdraw mobile-phone and fitness reimbursements, as well as other staff-related bonuses. These measures,
National Australia Bank (NAB) recently announced that it has prevented over A$270 million ($184 million) in customer payments due to concerns about potential scams. While these efforts to combat scams are commendable, there are concerns about the impact these restrictions may have on the growth of the cryptocurrency industry in Australia. This article explores the
Binance, one of the world’s largest cryptocurrency exchanges, has made a significant move in strengthening its regulatory compliance efforts. The exchange recently announced the appointment of Eleanor Hughes as its new general counsel. With her extensive experience and past successes, Hughes is tasked with leading Binance’s global regulatory initiatives in an ever-evolving industry. Hughes first
Ark Invest Management, a prominent investment firm, recently made headlines when it sold 135,152 shares of Coinbase, amounting to $12 million. This move is noteworthy considering Coinbase’s positive price performance, reaching a one-year high of $90 on July 11. Moreover, Coinbase has outperformed Bitcoin in the last 30 days, with a growth rate of over
