Binance, the top cryptocurrency exchange in the world, declared on Wednesday that it will not proceed with the acquisition of FTX. As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will
World’s one of the most prominent cryptocurrency exchanges FTX CEO Sam Bankman-Fried’s total net worth fell by nearly 94% to $991.5 million in a single day. Also, he has disappeared from the Bloomberg Billionaires Index. Prior to FTX financial crisis, SBF’s personal wealth was estimated to be $15.2 billion, as
Binance CEO Changpeng Zhao confirmed the largest exchange’s move to “fully acquire” its rival FTX on Twitter on Tuesday, putting an end to all the speculations. Binance signing a non-binding letter of intent (LOI) with FTX.com marked the initiation of the bailout. This afternoon, FTX asked for our help. There
The CEO of Binance, Changpeng “CZ” Zhao, announced that his exchange would soon launch a Proof-of-Reserves audit mechanism to enable verification of its holdings of digital assets in the wake of the liquidity issue and the acquisition of cryptocurrency exchange FTX. All crypto exchanges should do merkle-tree proof-of-reserves. Banks run
Changpeng Zhao (CZ), CEO of Binance, said yesterday in a tweet that the exchange is still holding Terra Luna Classic (LUNC) in its inventory. He mentioned this while suggesting that the firm was uninterested in Alameda Research’s offer. To swap its FTT holdings over the counter at a premium price.
Changpeng Zhao, CEO of Binance, reported that as of this morning’s early hours, the BNB platform had ETH worth about $8 billion stored in its cold wallet. He added that they are serving as custodians for the user funds and further clarified that these funds are unrelated to the platform.
Binance the world’s most prominent cryptocurrency exchange announced that once again it has added a fiat gateway for the Nigerian Naira (NGN). Binance making more effort to extend cryptocurrency use and accessibility for the general public. As part of this Nigerian users can now able to deposit and withdraw NGN
Following recent developments, Binance CEO Changpeng Zhao declared over the weekend that the exchange will sell off all of its FTT holdings. After the announcement, the price of FTT dropped dramatically, losing about 10% of its value in a single day. Before the crypto community had time to process what
Binance has changed the frequency of its Terra Classic (LUNC) burn mechanism from once every week to once every month. The trading costs on LUNC spot and margin trading pairs on Binance have resulted in the burn of 13.712 billion LUNC tokens so far. In addition, more than 26.361 billion
Binance, sensing the worldwide vigor for soccer, has announced a new online challenge in which participants have the chance to win a variety of incredible prizes, including over $1,000,000 in tokens, limited-edition NFTs, and premium club experiences like player meet-and-greets and training ground tours. Launching on November 7th, Binance’s “Football
