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Binance has announced a $300 million compensation plan to assist traders who suffered forced liquidations during the sharp market downturn on October 10.  The exchange said the move is part of its broader effort to restore user confidence after what it described as one of the toughest weeks for the cryptocurrency industry in recent memory. According to Binance’s official statement on October 14, the compensation will be distributed through token vouchers under a new relief campaign called the Together Initiative. The program is designed to support both retail and institutional users impacted by recent volatility, which Binance attributed to ongoing macroeconomic headwinds that have pressured digital asset prices and shaken market sentiment. While the company stressed that it does not accept liability for trading losses, it reaffirmed its commitment to the long-term stability and recovery of the crypto market. “Users are always our first priority. That is w...

Three low-cap altcoins skyrocketed in price on Friday after Binance added trading support for the crypto assets. The top global crypto exchange by trading volume listed aixbt by Virtuals (AIXBT), ChainGPT (CGPT) and Cookie DAO (COOKIE). CGPT, the native asset for ChainGPT, a web3 artificial intelligence (AI) infrastructure project, witnessed particularly pronounced gains, ripping by about 105% from $0.2 to $0.41 in a 24-hour period between Thursday and Friday. The 301st-ranked crypto asset by market cap has given up some of its gains and is trading at $0.346 at time of writing. AIXBT is a crypto market intelligence platform developed by the Virtuals Protocol, an AI agent project. The altcoin surged from a 24-hour low of $0.385 to a high of $0.578 to record a 50% increase. AIXBT has retraced since and is trading at $0.477 at time of writing. Cookie DAO is an index and data layer for AI agents. The project’s native token, COOKIE, rallied over 61% in 24 hours ...

With more than $8.7 million raised so far, Crypto All-Stars ($STARS) is quickly becoming one of the top-performing crypto ICOs of the year. This meme coin project, which introduces “MemeVault” — the industry’s first unified meme coin staking protocol — is now just $1.3 million away from hitting the $10 million milestone. And all of this is happening amid Bitcoin ($BTC) dominating headlines as it recently broke the $100,000 mark. For those who missed out on Bitcoin’s rise 15 years ago, when six-figure prices seemed beyond the realm of possibility, Crypto All-Stars offers a chance at redemption. Early momentum and growing interest in the presale are signaling huge potential for the project, making it a new door opening for investors seeking the next big thing. $STARS tokens are still up for grabs at $0.0016782 per token. But with only 15 days left in the presale, time is running out. Once the token hits the exchange, its ...

Mog Coin ($MOG) and Catslap ($SLAP) are leading the charge in the cat-themed meme coin sector, with all signs pointing to prices soaring even higher. $MOG price is up 24% at the start of the European session while debutant cat coin Catslap token is 1,740% higher in the past 24 hours – $SLAP launched on decentralized exchanges (DEXs) yesterday and is an Ethereum-based meme coin.  Trending as the number one hot pair on DexTools yesterday, meme coin-hungry traders are expecting more of the same from Catslap today as bulls target $0.0030. $SLAP 24-hour trading volume has hit $7 million and DEX transactions are running at 1,448 and should surpass 1,000 token holders shortly. Meanwhile, community followers on socials (X and Telegram) have passed 1,800 and these metrics are growing fast.  Also, the fully diluted market capitalization of $SLAP is within touching distance of $20 million and could double in the next 24 hours if $0.003000 is breached...

Source: Binance In a significant development for cryptocurrency trading, Binance , the world’s leading cryptocurrency exchange, has launched a new feature called Binance Pre-Market . This innovative service enables users to trade selected tokens from the Binance Launchpool before their official spot market listings. This feature is the first of its kind in the industry, providing a unique opportunity for traders to engage with new projects earlier in their lifecycle. Introducing #Binance Pre-Market! Get early access to token price discovery. The first project announcement is coming soon! Learn more https://t.co/JiYKNSjPwX pic.twitter.com/uknjLlZMwy — Binance (@binance) September 25, 2024 What is Binance Pre-Market? Binance Pre-Market allows participants to buy and sell tokens that have been exclusively allocated to users from selected Launchpool projects. Users can secure their positions before these tokens are made available on the spot market, effe...

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of Toncoin (TON), a decentralized, open-layer blockchain and its 56th project on the Binance Launchpool.  The official launch is set for August 15, 2024, and users will soon be able to participate in this farming opportunity by staking BNB and FDUSD to earn TON tokens. Introducing Toncoin $TON on #Binance Launchpool and Super Earn! Lock your tokens and earn Special APR rewards. Find out more https://t.co/Y8vHwg2a92 pic.twitter.com/3m1khH1APB — Binance (@binance) August 13, 2024 The launch of Toncoin From August 14 on, Binance users will have access to the official Toncoin webpage as the platform prepares for the launch.  Picks for you Ethereum price prediction with US CPI data release 2 h...

An exploit connected to XRP issuer Ripple has crypto exchanges on alert as multiple platforms collaborate to track $112.5 million in stolen assets.  Binance CEO Richard Teng said his exchange froze accounts with $4.2 million in Ripple’s XRP siphoned by unknown exploiters late last month. The amount comes to nearly 8.3 million XRP. Teng promised his company would continue working with Ripple and relevant parties to facilitate a thorough recovery.  We will continue to support Ripple in their investigations and their efforts to retrieve back the funds, including closely monitoring the majority of funds still in the exploiter’s external wallets in case they deposit to Binance. Richard Teng, Binance CEO You might also like: Ripple’s co-founder confirms $113m theft, XRP down 5% The Binance CEO also extended gratitude to blockchain sleuth ZachXBT, who first flagged the suspicious transactions on Jan. 31, as reported by crypto.news. Zach published findings of a 213 m...

According to data, crypto and digital payments companies paid nearly $6 billion in fines in 2023 for shortcomings in customer checks and anti-money laundering controls violations. Crypto and fintech groups faced fines exceeding those of the entire traditional financial system in 2023, the Financial Times reports, citing data compiled by software provider Fenergo. Data revealed that the crypto industry paid a staggering $5.8 billion in fines last year, due to security shortcomings, anti-money laundering controls, and failures to uphold sanctions to address financial crime issues. The majority of the sum included a $4.3 billion penalty imposed on Binance, described by U.S. prosecutors as “one of the largest corporate penalties in U.S. history.” As noted by the report, the figure far surpassed the $835 million paid by traditional financial services groups, marking the lowest level in a decade. Fines for money laundering and other financial crime violations | Sourc...

Shiba Inu (SHIB) has recently encountered a substantial setback. It is grappling with a significant decrease in its value. This comes amidst a broader downturn in the alternative coin market, where various digital assets are experiencing losses. Shiba Inu, a meme coin that has garnered widespread attention, notably witnessed a significant 12% drop in its price over the past few days. At press time, SHIB is trading at $0.000009039, reflecting a daily decline of 5%. Decline in Shibarium’s Trading Activity Compounding the challenges faced by Shiba Inu, its decentralized ecosystem, Shibarium, is undergoing a noticeable reduction in trading activity. The transaction count has diminished to $5.69 million, a sharp contrast from the 30-day average of 7 million. This decline prompts questions about the immediate future of Shiba Inu and the factors influencing its market dynamics. Substantial Withdrawal from Binance Amid Shiba Inu’s struggle with price depreciation, a significan...

Galaxy Digital CEO Mike Novogratz believes Binance has satisfied regulators and users after its $4.3 billion settlement with United States authorities. Binance’s $4.3 billion settlement  with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry , according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage concerned investors and users of the global exchange: “I think they’re de-risked in lots of ways. People were worried about dealing with Binance. There’s a lot less to worry about now.” Novogratz also weighed in on the considerations for major investment firms dealing with exchanges, as well as traditional finance (TradFi) players, with regulatory oversight continuing to take center stage in the United States. Binance didn’t steal money The Galaxy Digital CEO ...

Major Binance rival Coinbase took advantage of the problems of its competitor to alert users on the need to regulate the crypto market. According to Brian Armstrong, CEO of Coinbase, the need for transparency and clarity in crypto is more greater than ever before. These principles, he added, were critical in providing Coinbase regulatory and legal compliance departments that have made Coinbase unique since its founding in 2012. Since the founding of Coinbase back in 2012 we have taken a long-term view. I knew we needed to embrace compliance to become a generational company that stood the test of time. We got the licenses, hired the compliance and legal teams, and made it clear our brand was about trust… — Brian Armstrong ️ (@brian_armstrong) November 21, 2023 Armstrong noted that Coinbase, unlike Binance, is a public company. You might also like: Coingecko: Coinbase tops crypto lobbying spenders in 2023 On Nov. 21, Binance Holdings Limited pled guilty and agreed ...

Binance will list Memecoin (MEME) for spot trading on November 3 at 08:00 UTC. The announcement has sparked fresh interest in meme tokens, with the market bullish on Memeinator (MMTR). This price prediction for MEME and MMTR looks at what makes the new tokens unique and attractive to traders. Memecoin ($MEME) is trending amid the latest news from Binance , the world’s largest crypto exchange by trading volume. Per an announcement published today, trading support for $MEME starts on Friday, November 3. Memecoin’s listing on Binance means the token could benefit from wider market visibility, with demand amid the ongoing MEME farming driving interest amid a resurgence in meme trading.  Can the listing catalyse MEME price to gains that mirror previous tokens such as Pepe? What does this mean for presale projects such as Memeinator? Binance adds trading support for Memecoin (MEME) Days after the exchange launched $MEME as the 39th token on the...

The stars are lining up for Bitcoin price, but a few major price threats remain in play. Bitcoin (BTC) price surged by 26.5% in October and several indicators hit a one-year high, including the BTC futures premium and the Grayscale GBTC discount.  For this reason, it's challenging to present a bearish thesis for BTC as data reflects the post-FTX-Alameda Research collapse recovery period and is also influenced by the recent increase in interest rates by the U.S. Federal Reserve. Despite the positive indicators, Bitcoin price still remains around 50% below its all-time high of $69,900 which was hit in November 2021. In contrast, gold is trading just 4.3% below its $2,070 level from March 2022. This stark difference diminishes the significance of Bitcoin's year-to-date gains of 108% and highlights the fact that Bitcoin's adoption as an alternative hedge is still in its early stages. Before deciding whether the improvement in Bitcoin futures premium, open interest and the G...

In an email sent to Binance clients , the world’s largest exchange shares that the Binance Visa Debit card will not be available from December 2023 onwards. The email cites the reason is the Lithuanian electronic money institution “UAB Finansinės paslaugos Contis” to be closing down in two months time. Binance users notified of discontinuation As part of this announcement, “UAB Finansinės paslaugos Contis” will no longer be the issuer of the Binance Visa Debit card program.  The email instructs users to destroy their Binance Visa Debit card by cutting it up before the Dec. 20 deadline so the clip and magnetic stripe are destroyed. You might also like: Binance Research reports market cap decline in Q3 2023 At the same time, fiat and cryptocurrency from affected users Binance accounts will not be affected. Binance comments on card decision In a message shared with crypto.news, a Binance spokesperson confirms the news stating: “Binance Card...

Saulius Galatiltis, CEO of a Binance crypto-to-fiat payment affiliate, has stepped down in an ongoing exodus of executives from the digital asset titan. Galatiltis served as Bifinity’s chief executive from January 2022 to October 2023, per his LinkedIn profile. The Lithuania-based payment processor allowed customers to convert their fiat currencies into crypto tokens on Binance’s exchange, focusing on European users.  This is the latest departure from Binance-related entities as of Oct. 19 following a lawsuit from the U.S. Securities and Exchange Commission (SEC) alleging securities fraud. The suit indicted Binance Global, Binance.US, and CEO Changpeng Zhao. Binance’s Asia-Pacific director, Leon Foong, left the company on Aug. 31, a few weeks after general counsel Hon Ng and chief strategy officer Patrick Hillmann resigned.  Stéphanie Cabossioras, Binance France’s Managing Director, stepped down amid regulatory scrutiny aimed at Zhao’s company across multiple jurisdictions in N...

Coinbase recorded around $76 billion in spot trading volume, showing a sharp decline compared to the same quarter in 2022. The spot trading volume of Coinbase, one of the largest crypto exchanges in the United States, has dropped by more than half, highlighting a shift in interest in crypto trading.  Citing Analysis from digital asset data provider CCData, mainstream media outlet Bloomberg reported on Oct. 11 that Coinbase registered around $76 billion in spot trading volume . Compared to its quarterly record for the third quarter of 2022, the new data shows a 52% drop in spot trading for Q3 2023. According to the report, the new numbers are the lowest they've ever been since before Coinbase got listed on the Nasdaq Stock Market in 2021, which was also months before the prices of crypto were at their peak. Crypto exchange Coinbase spot trading volume in billions of dollars. Source: Bloomberg Despite the decline in its spot trading volume, the report noted that Coinbase gained...

Tron (TRX) co-founder Justin Sun — moved nearly $1.3 billion worth of cryptocurrency onto Binance deposit addresses over the last 24 hours, in addition to other major transfers. According to Arkham Intelligence data, Sun sent nine transfers to Binance deposit addresses over the last 29 hours. Those transfers — one of which came from his OpenSea account — translate to a total Binance deposit of over $1.28 billion within 24 hours. You might also like: Justin Sun makes huge moves amid insolvency allegations Furthermore, Sun also transferred over 28 trillion BitTorrent (BTT) tokens worth over $10.8 million. Those tokens were transferred to the protocol’s Root Chain Manager Proxy, indicating that those tokens were likely moved off the Ethereum blockchain onto a different blockchain. BTT is a token created by the Tron Foundation to incentivize and compensate users on the popular BitTorrent file-sharing network. The Tron Foundation acquired BitTorrent in 2018 and intro...

Binance announced on Monday, September 25, that it had reopened customer registrations in Belgium. The exchanges products and services are also accessible in the country to customers who accept new Terms of Use. Binance had halted operations in the country in August, directing customers to a Polish entity. Binance , the world’s largest cryptocurrency exchange by trading volume, has announced that new customer registration and access to products and services is now reopened in Belgium. The announcement comes nearly a month since the exchange notified its customers that access to Belgian customers would be available via Binance Poland. That move followed an order from the Belgium market regulator warning Binance not to offer its services in the country. Great news for our Belgian community 🇧🇪 We've now reopened registrations and access to # Binance products and services in Belgium. https://t.co/IActiqYMjm — Binance (@binanc...

Starting Sept. 29, Binance will remove Spot Trading Bots services from trading pairs including AAVE/BNB and ZIL/BNB. The announcement comes amid reports of decreasing Binance trading volumes, likened to regulatory challenges and end of zero-fee commissions. 57 down and potentially more to follow The Spot Trading bot services that were removed are listed on the Binance website. The reason for these mass removal s, according to Binance, is a “service alteration to improve the user’s trading experience.” #Binance will be removing Spot Trading Bots services from selected trading pairs.https://t.co/AkKp40dv4V — Binance (@binance) September 22, 2023 Binance first announced the removals in a Sept. 21 tweet. A follow-up tweet from the next day stated that despite these removals there will be the addition of two service bot trading pairs, BTC/FDUSD and USDT/TRY. You might also like: Binance and Changpeng Zhao ask court to dismiss SEC suit The announcement comes tw...

Kamat Resigns Adds To On-Going Executive Exodus Kamat’s departure follows the departure of other top executives from Binance , including Chief Strategy Officer Patrick Hillmann and General Counsel Hon Ng. Notably, CoinGape Media last week reported that Bloomberg confirmed Leon Foong, who served as the head of Binance Asia-Pacific, also announced his departure, according to sources familiar with the matter. advertisement Increased regulatory attention, particularly in the United States, and these leadership changes at Binance are occurring at the same time. U.S. authorities have begun toughening up on cryptocurrency-related activity that they view as illegal. According to Reuters, the U.S. Securities and Exchange Commission (SEC) sued Binance and its CEO, Changpeng Zhao, in June. 13 allegations were brought by the SEC against the business, alleging a “web of deception.” Among the charges were that Binance inflated its trading volumes artificia...