Binance

In a Monday press release, bankrupt crypto brokerage firm Voyager digital revealed which company won the bid for its assets. Per the publication, exchange platform Binance.US made the highest bid for the troubled lender’s assets. This means Binance.US will acquire Voyager’s assets for approximately $1.022 billion. Voyager Chooses "Best Deal" for Customers The Binance.US bid covers the fair market value of the lender’s crypto portfolio. Currently, the market value of Voyager’s holdings rests at about $1.002 billion. As such, Binance.US’s…

Global audit corporation Mazars has withdrawn its services from all companies in the crypto sector. Mazars' withdrawal comes barely two weeks after its public audit of the Binance exchange.  Mazars’ Exchange Auditing Tool Shut Down Per the release, a Binance spokesperson confirmed the news of Mazars’ latest move in a statement on Friday. Going forward, the accounting firm will not conduct business with crypto customers in the US or anywhere in the world. Naturally, the reportedly temporary pause extends to…

Media personality Jim Cramer voiced his support for Binance in a Twitter post amidst negative speculation surrounding the firm. Cramer stated that he felt reassured by Binance and asked his followers if they shared the sentiment.  CZ Says No to Cramer Endorsement Binance CEO Changpeng Zhao responded to the tweet, alluding to the long-running inverse Cramer strategy. Cramer is widely-known to represent the consensus view in market trends, a position that rarely ever yields returns. This reputation has birthed two…

Some of the crypto community’s biggest voices are worried that Binance, the world’s largest crypto exchange, is in financial trouble. Faced with record-high withdrawal requests, influencers debate whether the exchange will soon collapse in the same fashion as FTX.  On Tuesday, Binance faced billions of dollars in withdrawal pressure, which CEO Changpeng Zhao passed off as “business as usual” for the exchange.  CZ added: I actually think it is a good idea to “stress test withdrawals” on each CEX on…

Binance has addressed reports that it is facing a probe from the US Department of Justice for money laundering. On Monday, the platform took to Twitter to announce to users via its official account that the rumors were untrue. Alleged Charges Over Money Laundering Speculations of a run-in with the law emerged after a publication alleged that Binance was in the middle of a criminal investigation. The release claimed that the authorities were looking into the firm due to suspicions…

Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books.  However, many in the crypto community question Binance’s approach. Also, they aren’t fully sure they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings.  The company’s initial audit…

As the FTX crisis draws on, competitor and leading global exchange platform Binance recorded a jump in client withdrawals. Users have pulled out assets such as Bitcoin, Ethereum, and other stablecoins from the firm as tensions soar throughout the market.  CZ however dismissed any worries, describing the increased withdrawals as only 'slight' and 'normal'.  Binance Users Withdraw BTC, ETH, and Others On-chain data platform CryptoQuant reports BTC withdrawals on Binance totaling 81,712 tokens. This amounts to roughly $1.35 billion at…

Binance has announced it is set to acquire its rising rival, FTX. Binance CEO, Changpeng Zhao made this known in a tweet. “This afternoon, FTX asked for our help. There is a significant liquidity crunch,” the tweet began. FTX CEO, Sam Bankman-Fried also confirmed the news that has left the crypto community shocked. https://twitter.com/cz_binance/status/1590013613586411520?s=20&t=Qewt2lazmWepw5Il0h71ag FTX’s solvency has been in doubt since reports emerged that Alameda, FTX’s sister firm, only held FTT on its balance sheet. Following the report, Binance stated…

Binance notoriously devoted $500 million to support Elon Musk’s buyout of Twitter, after the billionaire announced his offer in April.  The company’s CEO, Changpeng Zhao (CZ), has now provided a summary of its 6 primary reasons for doing so.  Binance Supports Free Speech According to a Twitter thread from CZ on Friday, Binance’s foremost reason for supporting the buyout is its support for freedom of speech.  “Twitter is the global Townsquare. From singers/athletes/movie stars to politicians/CEOs/entrepreneurs, the crypto community, and…