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$0.5638320 7.44535
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Bonk
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$0.0000200 -2.10878
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Bitcoin
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$66,557.00 3.08568
Bitcoin price
Ethereum
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$3,193.60 1.61662
Ethereum price
BNB
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$596.59 3.59212
BNB price
Solana
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$154.46 4.01613
Solana price
XRP
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$0.5638320 7.44535
XRP price
Shiba Inu
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$0.0000269 3.29507
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Pepe
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$0.0000067 16.54329
Pepe price
Bonk
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$0.0000200 -2.10878
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SirWin
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SirWin

Binance News

crypto.news is a leading source of cryptocurrency and blockchain news, keeping you up to date with what’s happening in crypto. One of the key players to keep an eye on in the crypto market is the international trading and development powerhouse, Binance.

Binance is the world’s largest cryptocurrency exchange by trading volume, founded late in the game in 2017. Founder and CEO Changpeng Zhao is a business executive that contributed to the development of Blockchain.info, the world’s first Bitcoin blockchain explorer which allows the public to view and search Bitcoin transactions on the blockchain. He was also the Chief Technology Officer of rival exchange OKCoin.

Binance is registered in the Cayman Islands and maintains an international presence in terms of its user base, moving its headquarters from China following a 2017 regulatory crackdown from the Chinese government on crypto trading. The company is not without controversy, having suffered an apparent security breach in 2019 resulting in the loss of 7,000 bitcoins worth $40 million at the time.

The company has also faced regulatory scrutiny and legal investigations in 2021 from the U.S. Department of Justice and the IRS regarding allegations of money laundering and tax evasion. The UK Financial Conduct Authority banned Binance in 2021. Several banks in Thailand, China, and Japan have banned users from sending money to the Binance exchange, and Binance has received warnings from Hong Kong regulators regarding its activities.

The investigations were launched after the Forbes media outlet published leaked internal documents indicating that Binance had deliberately created a complex series of shell companies and other corporate infrastructure to deceive U.S. regulators. Binance denied these charges and initially sued Forbes for defamation before dropping the lawsuit.

However, Binance has also developed strong ties with other nations, brokering a deal with the government of Bermuda. Binance agreed to donate $15 million to Bermuda via Binance Foundation and Binance Labs, an incubator project geared towards helping new blockchain companies develop their technology. Binance also pledged to create at least 40 jobs in Bermuda, and the small nation with a population of around 70,000 now accepts Binance stablecoin BUSD as payment for taxes and government services.

Binance launched Binance Smart Chain in 2020 as a potential contender with Ethereum, allowing developers to create and launch apps on Binance’s network. The company also launched the BNB cryptocurrency as a utility token on its trading platform, offering users discounted trading fees when trading with BNB.

Binance had a market capitalization of $1.3 billion when measured in 2018 and has remained the largest exchange by market cap ever since. Binance had an estimated 28 million users in 2021, generating profits between $800 million and $1 billion with an annual trading volume of $7.7 trillion. Overall, the project is a powerhouse in the crypto space, launching charities and fostering innovation on 5 different continents through its Foundation and incubator project among other limited companies.

However, if the IRS and DoJ investigations in the U.S. find that Binance has indeed carried out money laundering and tax evasion in the U.S., pressure may mount internationally to restrict or ban the use of the Binance exchange in different markets.

Latest Binance News

Kenyan authorities reportedly extradite Binance executive to Nigeria
News
Read more - Kenyan authorities reportedly extradite Binance executive to Nigeria

Kenyan authorities reportedly extradite Binance executive to Nigeria

The EFCC, Interpol, and Kenyan police are negotiating the extradition of the Binance executive.
HashKey halts Binance transactions amid global challenges
News
Read more - HashKey halts Binance transactions amid global challenges

HashKey halts Binance transactions amid global challenges

Hong Kong-based crypto exchange HashKey has announced that it will stop accepting deposits and handling withdrawals to and from wallets linked to Binance.
Token2049: Binance COO says US monitoring deal poses challenges
News
Read more - Token2049: Binance COO says US monitoring deal poses challenges

Token2049: Binance COO says US monitoring deal poses challenges

Binance COO Noah Perlman says monitoring agreement with U.S. regulators is now posing challenges for the exchange despite viewing the deal as an opportunity for improvement. Binance‘s plea agreement with the U.S. Department of Justice, which includes an independent compliance…
Changpeng Zhao named wealthiest man in crypto industry— Here’s why
Features
Read more - Changpeng Zhao named wealthiest man in crypto industry— Here’s why

Changpeng Zhao named wealthiest man in crypto industry— Here’s why

Changpeng Zhao continues to lead Forbes’ list of cryptocurrency billionaires. How did he build his fortune? Changpeng Zhao has remained one of the wealthiest people for several years, even with legal issues and billions in fines in 2023. In early…
Binance eyes return to India as an FIU-compliant platform
News
Read more - Binance eyes return to India as an FIU-compliant platform

Binance eyes return to India as an FIU-compliant platform

Binance is eyeing a comeback to India following a 4-month ban placed on the exchange by the nation’s Financial Intelligence Unit (FIU). Two sources familiar with the development claim that the exchange has agreed to pay a $2 million penalty…
Binance announces token drop platform Megadrop after securing Dubai VASP license
News
Read more - Binance announces token drop platform Megadrop after securing Dubai VASP license

Binance announces token drop platform Megadrop after securing Dubai VASP license

Leading crypto exchange, Binance has announced a new airdrop and web3 quest platform dubbed Megadrop. Announced on April 18, Megadrop is primarily a token launch platform that will host airdrops and Web3 quests by integrating the Binance Simple Earn program…
Binance CEO discusses stablecoin regulation and detained executive at Token2049
News
Read more - Binance CEO discusses stablecoin regulation and detained executive at Token2049

Binance CEO discusses stablecoin regulation and detained executive at Token2049

At Token2049, Binance CEO Richard Teng addressed key issues in the crypto space, focusing on the regulation of stablecoins and the complex situation of a detained Binance executive in Nigeria. Binance CEO Richard Teng headlined a panel on crypto regulation,…
Binance converts assets of its SAFU insurance fund into Circle’s USDC
News
Read more - Binance converts assets of its SAFU insurance fund into Circle’s USDC

Binance converts assets of its SAFU insurance fund into Circle’s USDC

Crypto exchange Binance has made a notable reorganizational move for its billion-dollar SAFU insurance fund, with all the assets in it converting into the USDC stablecoin. Binance has announced a sudden update for its emergency insurance fund called SAFU, converting…
Spider-Man star Tom Holland’s X account hacked to push crypto scam
News
Read more - Spider-Man star Tom Holland’s X account hacked to push crypto scam

Spider-Man star Tom Holland’s X account hacked to push crypto scam

The X account of movie star Tom Holland was recently hacked, with attackers using it to falsely promote SPIDER cryptocurrency tokens and Spiderverse NFTs. The account, which boasts more than 7 million followers, was used by bad actors to announce…
Binance US onboards ex-New York compliance chief
News
Read more - Binance US onboards ex-New York compliance chief

Binance US onboards ex-New York compliance chief

Crypto exchange Binance.US named Martin Grant, a former New York Federal Chief Compliance and Ethics officer, to its Board of Directors. 
DOJ considering new law firm as monitor for Binance amid FTX ties
News
Read more - DOJ considering new law firm as monitor for Binance amid FTX ties

DOJ considering new law firm as monitor for Binance amid FTX ties

The DOJ is reconsidering its decision to appoint Sullivan & Cromwell as Binance's independent monitor because of its relationship with FTX. 
NEO emerges as top gainer, traders bet on price drop
Markets
Read more - NEO emerges as top gainer, traders bet on price drop

NEO emerges as top gainer, traders bet on price drop

NEO has recorded impressive gains as the broader crypto market witnesses bullish momentum after a red weekend. NEO is up by 33% in the past 24 hours and is trading at $22.5 at the time of writing. The asset’s market…
Binance exec on the run: Nigeria government pursues extradition from Kenya
News
Read more - Binance exec on the run: Nigeria government pursues extradition from Kenya

Binance exec on the run: Nigeria government pursues extradition from Kenya

Nigeria’s tax agency filed charges against two Binance execs, who were later detained. But one of them has escaped. Government officials say they found him.
Binance Labs invests in BounceBit to advance Bitcoin utilization
News
Read more - Binance Labs invests in BounceBit to advance Bitcoin utilization

Binance Labs invests in BounceBit to advance Bitcoin utilization

Binance Labs invests in BounceBit to transform Bitcoin's role with innovative solutions
EU securities watchdog: 10 exchanges dominate 90% crypto trades
News
Read more - EU securities watchdog: 10 exchanges dominate 90% crypto trades

EU securities watchdog: 10 exchanges dominate 90% crypto trades

The crypto market appears to be highly concentrated, as only 10 exchanges process around 90% of all trades, according to a recent study done by the European securities regulator. A recent study conducted by the European Securities and Markets Authority…
Binance to delist, cease trading on six spot pairs
News
Read more - Binance to delist, cease trading on six spot pairs

Binance to delist, cease trading on six spot pairs

Binance announced that it would remove trading of some pairs on the spot market and launch new tokens.