Exchanges News

Binance Increases USDC Holdings as BUSD’s Market Cap Slides Lower

Coins Legend February 21, 2023 0

Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest

Bitcoin Exchanges Finance News

Southeast Asia’s Largest Bank DBS Sees 80% Increase in Bitcoin Trading Volume on Its Crypto Exchange

Coins Legend February 20, 2023 0

The largest bank in Southeast Asia, DBS, has revealed that bitcoin trading volume on its cryptocurrency exchange jumped 80% in 2022 while ether trading volume surged 65%. “We believe that the market has decisively shifted its focus towards trust and stability, especially in the wake of multiple scandals that have rocked the industry,” a DBS […]

Exchanges News

Binance US Refutes Reports Comparing It to Fraudulent Crypto Exchanges

Coins Legend February 20, 2023 0

Binance US has refuted reports that draw parallels between it and “fraudulent exchanges that have gone bankrupt.” The U.S.-based crypto trading platform stressed that “only Binance.US employees” have access to its bank accounts, denying the allegation that global crypto exchange Binance has “secret access.” Clarifications by Binance US Binance US, a U.S.-based

Exchanges News

Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days

Coins Legend February 19, 2023 0

Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the stablecoin still commands roughly 10.7% of the crypto economy’s $67.71 billion in global trade volume over […]

Exchanges News

Nigerian Crypto Payment Gateway Fluidcoins Acquired by Seychelles-Based Crypto Exchange

Coins Legend February 18, 2023 0

The Nigerian crypto payment gateway Fluidcoins was recently bought for an undisclosed sum by Blockfinex, in a deal which the former’s CEO Lanre Adenowo described as an “acquihire deal.” Blockfinex reportedly said it will leverage the acquisition to launch its own platform known as Blockpay. Scaling Blockfinex’s Crypto Payment Processing Business The Nigerian crypto payment

Exchanges News

Binance Expects to Pay Fines to Settle With US Regulators for Past Conduct: Report

Coins Legend February 18, 2023 0

Crypto exchange Binance expects to pay fines to U.S. authorities to settle regulatory and law-enforcement investigations over its past conduct, the company’s chief strategy officer reportedly said. When Binance began its business, the company was unfamiliar with the rules it needed to comply with in the U.S., the executive explained. Binance Plans to Settle With […]

Exchanges News

Coinbase CEO Urges Congress to Pass Clear Crypto Legislation — Warns America Risks Losing Financial Hub Status

Coins Legend February 18, 2023 0

Coinbase CEO Brian Armstrong has called on Congress to pass clear crypto legislation, warning that the U.S. risks losing its status as a financial hub. “Crypto is open to everyone in the world and others are leading,” the executive stressed. Coinbase’s CEO on Cryptocurrency Regulation The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN), […]

Exchanges News

Report: Former FTX Director of Engineering Nishad Singh Negotiating Plea Deal with Prosecutors 

Coins Legend February 18, 2023 0

Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter, Nishad Singh, FTX’s former director of engineering, is attempting to negotiate a deal with New York prosecutors. Sources […]

Exchanges News

Binance and Huobi Freeze $1.4 Million in Crypto Linked to North Korea

Coins Legend February 17, 2023 0

Crypto exchanges Binance and Huobi have frozen cryptocurrencies worth approximately $1.4 million linked to North Korea, according to blockchain analytics firm Elliptic. The firm noted that the stolen funds, which were dormant until recently, originated from the June 2022 hack of Harmony’s Horizon Bridge. North Korea-Linked Crypto Frozen by Binance and Huobi Blockchain

Exchanges News

Stanford Alumni Revealed as Co-Signers of FTX Co-Founder’s $250M Bond

Coins Legend February 16, 2023 0

According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case unsealed the co-signers of Bankman-Fried’s bond on Wednesday. The names of the two bail bond co-signers that were previously redacted from court documents are Stanford University alumni Larry Kramer […]