Binance

Polygon Discord Channel Breach Sparks Security Concerns

Binance Freezes $5.3M in Stolen Funds After $54M BtcTurk Hack

Following the latest hack on BtcTurk, Binance CEO Richard Teng has reiterated the exchange’s resolve to increase security and safeguard user funds. Binance has taken immediate action by freezing stolen assets that passed via its centralized exchange. This shows that they are trying to help impacted users as much as

June 23, 2024 1 min read

Binance Completes Tether (USDT) Integration on TON Blockchain

Today, the world’s largest crypto exchange, Binance, announced that Tether (USDT) on the TON blockchain is now live on its platform. This integration allows users to engage in deposit and withdrawal operations using USDT on the TON network. USD₮ on @ton_blockchain is now live on @binance pic.twitter.com/tsYCxybDKx — Tether (@Tether_to)

June 21, 2024 1 min read

LayerZero (ZRO) Gains Momentum with Listings on Major Crypto Exchanges

Despite a sluggish performance in the global cryptocurrency market over the past fortnight, new projects and developments continue to create buzz. In the queue, LayerZero, an omnichain interoperability protocol, has garnered significant support from the crypto community following a successful airdrop. This led to the listing of its native token,

June 20, 2024 1 min read

Crypto Exchange Binance Fined $2.2M by India’s FIU for Non-Compliance

Crypto exchange Binance has been fined $2.2 million by the Financial Intelligence Unit (FIU) of India. Binance is reportedly accused of failing to comply with local anti-money laundering (AML) standards, which is the reason for the penalty. For Binance, already beset by convoluted international financial rules, this new development poses

June 20, 2024 2 mins read

The country's vice president, Kashim Shettima, has said that Nigeria is prepared to surpass other developed nations economically and technologically. As part of Nigeria's plan for digital transformation and leadership in Africa, Shettima revealed this on Tuesday when he inaugurated the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse, the capital of Jigawa State. In collaboration with the prominent tech firm Gluwa, the AI Expertise Blockchain and Technology Training and Outsourcing Initiative seeks to provide training in artificial intelligence, blockchain, and other cutting-edge technologies to 1,000 Nigerians every year. The Vice President urged Nigerian youngsters to embrace the initiative, stating that it is critical to the country's economic future, at the initiative's debut at the Yakubu Gowon NYSC Orientation Camp, Fanisau, Dutse. According to him: “We are not merely catching up with the rest of the world; we are poised to overtake them. This initiative offers its beneficiaries the chance to become part of a global workforce, driving innovation that will shape our future”. Together with outlining the initiative's wider goals, he said that the federal government is aiming to establish a nationwide network of tech centers that would sustain Nigeria's economic development for many years to come. The Vice President expressed gratitude for the collaboration with Gluwa, saying it is in line with President Tinubu's plan to transform Nigeria's digital technology space. He praised Gluwa for empowering Aella Microfinance Bank and enabling the flow of nearly N100 billion to two million Nigerians, while also acknowledging the substantial impact of the company. Jigawa State Governor Umar Namadi highlighted the significance of the initiative in his previous speech, calling it a unique chance that is right at the young people's doorstep. According to him, the new initiative prioritizes innovation and digital technologies and is in line with Jigawa State's 12-Point Agenda as well as the federal government's Renewed Hope Agenda. The governor went on to announce the creation of a new ICT & Digital Economy Agency, stating, that they are more committed than ever to re-establish Jigawa State as a significant ICT hub in Nigeria. Shettima had earlier announced the launch of the fourth iteration of the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic, revealing that President Bola Tinubu had issued an executive order directing the federal government to provide N150,000 grants to each state's business owners as part of its support for MSMEs nationwide. He said that the N150,000 that the president had allocated to each MSMEs was an outright grant that did not need to be repaid. One of the federal government's initiatives to facilitate business in Nigeria is the Expanded National MSME Clinics. These are a series of business forums that are arranged throughout the nation to offer MSMEs immediate solutions to problems they face. The first, second, and third editions of the clinics were introduced earlier this year in the states of Benue, Ogun, and Ekiti, respectively. The MSMEs sub-sector, according to Shettima, is the backbone of the country's economy and has been a top priority for the Tinubu administration. They not only account for over 45% of Nigeria's GDP and 96% of all businesses in the country, but they also provide a vital lifeline for 80% of the workforce. Malam Umar Namadi, the governor of Jigawa State, had earlier expressed gratitude to the federal government for granting the state's citizens dividends of democracy via the MSME Clinics and other similar initiatives dispersed around the region. Namadi called the initiative a unique chance for operators in the state's small business sector and encouraged both current and prospective entrepreneurs to use the services offered by the clinics.

Nigerian Court Dismisses Binance Executive’s Rights Violation Lawsuit

According to local news sources, Binance regional manager Nadeem Anjarwalla’s lawsuit was dismissed by the Nigerian High Court. Anjarwalla claimed that the seizure of his passport and detention by Nigerian government officials constituted a violation of his basic rights. Due to a “want of diligent prosecution,” Judge Inyang Ekwo dismissed

June 20, 2024 2 mins read

Trouble Continues for Binance U.S as North Dakota Revokes License

The North Dakota state financial watchdog has joined seven others in revoking Binance US’s money transmitter license. On June 17, Commissioner Lise Kruse of North Dakota’s Department of Financial Institutions (DFI) said that BAM Trading Services, doing business as Binance US, had violated the money transmitter rules of the state.

June 19, 2024 2 mins read

What Prompted Binance to List ZKsync (ZK) Trading Pairs?

In response to community concerns and following in the footsteps of several other leading exchanges, Binance, the world’s largest crypto exchange, has officially announced the listing of ZKsync (ZK) trading pairs. This move comes amidst ongoing scrutiny over the airdrop of ZK tokens and marks a pivotal moment for ZKsync,

June 17, 2024 2 mins read

Binance Founder Changpeng Zhao Reportedly Owns 64% of BNB Tokens

Around 94 million Binance Coin (BNB) tokens, or 64% of the total supply, are reportedly owned by Changpeng Zhao (CZ), the former CEO of Binance, according to a Forbes article. A forensic investigation by Gray Wolf Analytics and the news platform showed that the Binance founding team received 80 million

June 15, 2024 2 mins read

io.net (IO) Soars to $6 ATH Driven by High Trading Activity

Today, the price of io.net (IO) piqued 70%, hitting a new all-time high of $6.45. The Solana based, Binance’s 55th project IO initially displayed a 20% drop post-launch on Binance. However, io.net has now shown a strong rally, climbing to a market cap of over $558 million. At the time

June 13, 2024 1 min read

BNB Price Drops Following Record All-Time High

Binance Coin (BNB), the native token of the world’s largest crypto exchange, soared to a record high of $720 on June 6th. However, within a week, its value tumbled to $616, leading to a 7.13% decline over the past 24 hours. Moreover, BNB’s market capitalization surged to over $109 billion

June 11, 2024 1 min read