Tag: Binance

Redstone’s Airdrop Cut Sparks Firestorm as Binance Halts RED Listing

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Blockchain oracle Redstone faces community backlash and a Binance listing suspension following a controversial reduction in its RED token airdrop allocation. From 9.5% to 5%: Redstone’s Community Airdrop Allocation Slashed Redstone, a blockchain oracle providing data feeds for decentralized applications, has encountered significant turmoil after reducing its RED token community airdrop allocation, prompting Binance to […] Source link

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US Lawmaker Urges Release of Jailed Binance Employee

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A U.S. lawmaker is calling for the release of a detained Binance executive in Nigeria. Representative James Hill believes the executive, Tigran Gambaryan, has significantly contributed to combating cybercrime in the U.S. and should not be abandoned. Hill expressed concern that the continued detention could strain diplomatic ties between the U.S. and Nigeria. Hill urged […] Source link

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Binance: Detained Executive Lacks Decision-Making Authority, Must Be Released

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Tigran Gambaryan, the Binance employee detained by Nigerian authorities, is a stringent law enforcement professional with no decision-making authority, according to the crypto exchange. Through his Financial Crime Compliance (FCC) team, Gambaryan has responded to more than 600 information requests from Nigerian authorities. Gambaryan Hired to Assist Binance with Past Compliance Issues Tigran Gambaryan, an […] Source link

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Binance shutting down European Visa debit card in December

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Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected. According to a Binance letter to customers posted online, the Binance card issuer, Finansinės paslaugos “Contis” — or Contis Financial Services — will stop issuing the card. Contis is a Lithuanian electronic money institution and currency exchange operator owned by German banking-as-a-service platform Solaris Group, which is active in 30 European countries. The Binance Visa debit card converts…

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Binance leaving Russian market is ‘on the table’: Report

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Cryptocurrency exchange Binance may be considering withdrawing its services from Russia amid sanctions from countries including the United States. According to an Aug. 28 report from The Wall Street Journal, a Binance spokesperson said the exchange was considering all options in regard to Russia, “including a full exit.” The report followed Binance removing certain sanctioned Russian financial institutions from available payment options on its peer-to-peer platform and adding fiat currency restrictions for Russia-based users. A global exchange without a brick-and-mortar headquarters, Binance operates in many countries but has received pushback from…

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Binance Connect shutting down on August 16

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Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson.  The same day, BNB Chain decentralized exchange Biswap tweeted that Binance “has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service.” The Binance spokesperson stated:  “At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy.…

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DeFi faces stress test, DoJ fears run on Binance, Hong Kong’s…

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Top Stories This Week The decentralized finance (DeFi) ecosystem experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days, hammering the performance of tokens and even stablecoins as a result of the dramatic ups and downs in this story. As the community navigates the aftermath of this exploit, Cointelegraph compiled the week’s events, presenting…

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BTC price risks new sub-$29K dip as Binance fears test Bitcoin bulls

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Bitcoin (BTC) dipped below $29,000 on Aug. 3 as market concerns over largest global exchange Binance reignited BTC price downside. BTC/USD 1-hour chart. Source: TradingView BTC price analysis “expects” support retest Data from Cointelegraph Markets Pro and TradingView showed BTC price action heading lower before a modest comeback into the Wall Street open. Rumors over new United States legal action against Binance made for a disappointing 24 hours for Bitcoin bulls after a brief trip above $30,000. With the trading range still firmly in place, monitoring resource Material Indicators forecast…

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Binance Implements Lightning Network Support For Bitcoin Transactions

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Binance, one of the world’s leading cryptocurrency exchanges, has successfully integrated Bitcoin (BTC) onto the Lightning Network, enabling faster and more efficient transactions. As of today, users can now deposit and withdraw Bitcoin (BTC) using the Lightning Network on the Binance platform. The integration of Bitcoin on the Lightning Network marks a significant milestone for Binance, as it aims to enhance the speed and scalability of Bitcoin transactions. By leveraging the Lightning Network, Binance aims to address the scalability challenges associated with the Bitcoin network, allowing users to enjoy faster…

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Entity representing Binance customers seeks compensation

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A third-party entity called Eeon has intervened in the lawsuit filed by the United States Securities and Exchange Commission (SEC) against crypto exchange Binance. As stated in the filing with the District Court for the District of Columbia, Eeon claims that the SEC and Binance’s attorneys have failed to sufficiently represent the interests of Binance’s customers, leading Eeon to seek representation for them. In the filing, Eeon asserted,  “We are the appropriate parties involved in this case, as the Court identified us as ‘Customers’ in its Order dated June 17,…

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