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The ORDI token, which was not developed by the creator of Bitcoin Ordinals, has surged by 41% in the past 24 hours. Ordinals, a BRC-20 token collection minted on the Bitcoin blockchain, have surged by 40.8% in the past 24 hours to $10.19 after listing on crypto exchange Binance. According to Binance's Nov. 7 announcement, traders can now trade Ordinals (ORDI) against Tether (USDT), Bitcoin (BTC), and the Turkish Lira (TRY). Binance claims that it did not charge developers any listing fees for the ORDI token and that withdrawals will open on Nov. 8. As part of initial incentives, the first 1,000 users who deposit at least 72 ORDI to the exchange received a 50 USDT trading rebate voucher.  "ORDI is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility." Bitcoin Ordinals is a numbering system that assigns a unique number to each individual Satoshi, or 1/100 million of a Bitcoin, enabling tracking and tran...

BNB, the token associated with crypto exchange Binance, has attracted additional scrutiny with a recent Forbes investigation revealing that the original Initial Coin Offering (ICO) was a flop.  The report, produced in collaboration with Gray Wolf Analytics and Inca Digital, alleges that less than 11 million of the 100 million tokens on offer were actually sold in the sale. After this failure, Binance apparently chose to double the allocation for angel investors like Matthew Roszak and Roger Ver. The report further alleges that Binance “likely raised less than $5 million,” significantly less than the $15 million that Changpeng Zhao, the founder and chief exec, bragged about on LinkedIn.  The end result of this failed ICO was, allegedly, that Binance ended up with vastly more BNB than it had planned , and as BNB has become more valuable over time, this has resulted in large financial benefits for the company. Forbes highlights in its reporting that this could be because...

Binance, the popular crypto exchange, is exiting Russia and selling its local business to CommEX. In a statement, Binance also said it will take a year to completely pull out. Funds of its Russian users will not be affected. Noah Perlman, Binance’s chief compliance officer (COO), cited incompatibility with its compliance strategy in the current regulatory environment as the reason for exiting Russia. However, Binance remains optimistic about the long-term growth potential of web3. Consequently, the company will refocus its efforts on its operations in more than 100 other countries. You might also like: Russia’s central bank is set to launch digital ruble by 2025 To facilitate a smooth transition for users, Binance will streamline the exit process from Russia. This will involve terminating its partnership with CommEX and providing users with guidance on transferring their assets to CommEX. New users who have completed know-your-customer (KYC) registration in Russi...

Binance, a cryptocurrency exchange, will reportedly halt the trading of privacy -centric coins like Monero (XMR) in Belgium. In a screenshot circulated on X, the exchange cited adherence to local laws as the primary reason. Privacy coins will be outlawed and delisted from all exchanges. For Europe it starts now pic.twitter.com/CQ42Q2b8n1 — MisterCh0c (@Mister_Ch0c) September 6, 2023 A Binance spokesperson also emphasized their commitment to complying with local laws regarding privacy coins. The delisting of privacy -centric coins in Belgium follows Binance taking similar actions in France, Italy, Poland, and Spain a few months ago. With this announcement, privacy coins like Monero (XMR), MobileCoin (MOB), Firo (FIRO), and Horizen (ZEN) will no longer be available for trading to Belgian customers beginning Sep. 21. Platforms powering these coins specialize in offering enhanced anonymity features, employing technologies like zero-knowledge proofs to obfuscate transaction ...

The SEC has requested permission to submit undisclosed documents under seal in its civil lawsuit against Binance, Binance.US, and CEO Changpeng Zhao. The U.S. Securities and Exchange Commission (SEC) submitted a request to the U.S. District Court for the District of Columbia, asking for permission to file certain documents under seal in its civil case against Binance, its U.S. subsidiary Binance.US, and the CEO, Changpeng Zhao (CZ). The content of the SEC’s motion itself is sealed , sparking speculation around the possibility of sensitive or potentially incriminating details. Former SEC official John Reed Stark weighed in on the issue, suggesting that the SEC’s sealed motion could be linked to an ongoing criminal investigation by the U.S. Department of Justice. What’s Up With The Secret U.S. SEC Motion Relating to Binance? In the U.S. SEC/Binance litigation, the U.S. SEC has filed a sealed motion for leave to file documents under seal, according to an SEC court fili...

Legal Troubles for Binance Over Russia Post the onset of Russia ’s offensive in Ukraine, Binance publicized a decrease in its Russia n endeavors, adhering to the European Union’s stringent sanction regime. However, the authenticity of this assertion has been challenged.  advertisement Data sources, notably the Wall Street Journal (WSJ) and the Russia n Central Bank, present contrasting narratives. Records reveal that despite Binance ’s announcement, there’s an enduring ruble trading footprint on its platform. Peer-to-peer trades by Russia n entities averaged a monthly total of $428 million over half a year. The current system in place at Binance is under the lens for its possible multi-layered intermediaries, which might facilitate sanctioned Russian organizations in converting their funds into Binance balances. Read More: Binance ’s Acquisition Deal With Gopax Reportedly Failed Recommended Articles ...

Judge Considers Ripple Ruling in the SEC Vs Binance Lawsuit Judge Amy Berman Jackson has denied a motion to intervene in the US SEC enforcement action against Binance filed by Eeon, according to a court filing. advertisement On July 27, defendants Binance Holdings and Changpeng “CZ” Zhao opposed a request to intervene by Eeon, giving three reasons to the court to deny the motion. Plaintiff the SEC also requested the court to deny the petition as per the Exchange Act and counterclaims seeking relief from the SEC and Binance . Judge Jackson agreed with Binance and US SEC’s response that the law prohibits the consolidation of a private action with one brought by the SEC without its consent. She also cites cases such as US SEC v. Ripple Labs preventing private cross-claims, counter-claims, and third-party claims to SEC enforcement actions. “The SEC’s response 92 (“SEC Opp.”). Section 21(g) of the Exchange Act provides th...

In the latest Ask-Me-Anything (AMA) session, Binance CEO Changpeng Zhao (CZ) disclosed the upcoming announcement of a new partner for an additional USD stablecoin alongside FDUSD.  He also shared insights about a small team working on algorithmic stablecoin s, expressed concerns over the lack of audit reports for USDT, and revealed Binance’s intention to collaborate with numerous stablecoin s to mitigate risk. And we're live! Tune in to our Twitter Space with @cz_binance below https://t.co/KzU2bmdgxG — Binance (@binance) July 31, 2023 Things can change very quickly Although the July 31 AMA covered several topics, the conversation around stablecoins garnered significant attention. CZ highlighted that the industry is seeing many issues with the different stablecoins saying, “I personally have not seen any audit reports from USDT,” making it kind of a “black box.” He also points to issues in regulation in New York, although he pointed to...

The SEC filed a lawsuit on June 5 against Binance and on June 7 against Coinbase, accusing both exchanges of violating securities laws by offering certain cryptocurrencies as securities for trading. As two of the most prominent exchanges available to users today, CoinGecko reports the detrimental impact of this news on cryptocurrency prices. Varying degrees of decline CoinGecko shares the impact of the SEC’s lawsuit on crypto currency prices , stating that the announcement of the lawsuit had a notable effect on listed crypto currencies, with varying degrees of decline. The Sandbox (SAND) experienced the largest drop, falling by -11.4% on June 6 and further plummeting by -35.0% by June 12, from $0.59 to $0.39. SAND was mentioned in both lawsuit s as it is available for trading on Binance and Coinbase. Among the top 10 cryptocurrencies by market capitalization, significant drops were observed. Binance Coin (BNB), the fourth-largest cryptocurrency, initially fell by -9.4% ...

Earlier this month, the Securities and Exchange Commission (SEC) filed charges against the parent companies of Binance.com and Binance US, plus their founder, Changpeng Zhao (CZ). The charge is similar to the SEC’s December 2022 civil action against the parent companies of FTX and its founder Sam Bankman-Fried (SBF). In both lawsuits, the SEC alleges the unregistered offering of securities to US residents. Binance never registered its namesake tokens — BNB and BUSD — nor its various interest-earning products with the SEC. FTX never registered various crypto asset securities that it listed for US trading, including Solana (SOL), Algorand (ALGO), Cardano (ADA), and many others. The SEC also alleges that Binance.com secretly controlled some assets and operations of Binance US. FTX.com also secretly controlled the wallets used to hold FTX.US customers’ digital assets. Binance and FTX both borrowed the banking relationships of non- exchange entities controlled by the ...

Changpeng Zhao (CZ), the CEO of Binance, has refuted claims by some crypto traders suggesting that he has been selling off the bitcoin holdings in exchange for BNB in a bid to cushion the latter’s freefall. The Gary Gensler-led United States Securities and Exchange Commission’s (SEC) recent enforcement actions against Binance and Coinbase, literally tumbled the markets, with bitcoin and altcoins experiencing significant price declines. Just like every other crypto asset on the market, the price of Binance’s native BNB token dipped firmly, hitting a low of $220 on June 12. However, the asset has somehow managed to regain its bullish momentum, reaching a high of $252.8 on June 14. You might also like: Expert says US may hit Binance with criminal indictment Recall that on June 13, crypto traders with the Twitter handles @52kskew and @JW100x attributed BNB’s resurgence to Binance’s massive dumping of bitcoin (BTC) on the market in exchange for the former. Binance and C...

Also Read: Court Rules in Favor of IRS in Coinbase Documents Seizure Case advertisement Binance Says No To Privacy Coins In France The new restrictions on privacy coins adds to the growing concerns of the Crypto Market in terms of regulatory scrutiny. In the form of the U.S. Securities and Exchange Commission (SEC), the crypto industry participants are facing the biggest stumbling block in the most important financial market, the United States . The email from Binance said, “From June 26, 2023, users residing in France will no longer be able to buy or sell the following Enhanced Anonymity (“EAC”) crypto-assets on our platform: Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In ...

The crypto market cap slides 2% more on Thursday to extend its fall this week. The global crypto market cap now reaches below $1.10 trillion, with top altcoins such as Ethereum, XRP, Cardano, Polygon, and Solana near to breaking key support levels. advertisement Fitch May Downgrade US Rating To Negative Amid Debt Ceiling Impasse Rating agency Fitch placed United States’ “AAA” Long-Term Foreign-Currency Issuer Default Rating (IDR) on Rating Watch Negative. Fitch said it will downgrade the rating if President Joe Biden’s administration and congressional Republicans do not raise or spend the debt limit by June 1. Treasury Secretary Janet Yellen warned that the US Treasury will run out of funds by June 1. The Treasury General Account fell to $57 billion from $316 billion earlier in May, with the opening balance of $636 billion this fiscal year. Fitch’s downgrade will affect debt securities, treasury bills, and the co...

Also Read: As Ripple Rejoices Court Win US SEC Holds Option To Appeal advertisement Binance Australia mentioned that its third party payment service provider has stated that bank transfer withdrawals will also be impacted for the time being. However, the crypto exchange tried to assure the users that its working hard to find an alternative provider in order to continue AUD deposits and withdrawals. According to the announcement, Australian users can still buy and sell digital currencies using their credit or debit card. Binance reassured that its P2P marketplace will continue to operate as usual, while the rest of the refunds are safe (SAFU). Read More Crypto News Here… (THIS IS A DEVELOPING STORY) Recommended Articles Crypto Telegram Channels List 2023 [Updated] Must Read Crypto Presale Projects For 2023 To Invest; Updated List Must ...