Binance, one of the world’s largest cryptocurrency exchanges by daily trading volumes, has resumed Dogecoin (DOGE) withdrawals following a system glitch caused by the DOGE wallet upgrade. The exchange officially announced on Nov. 29 that it restarted DOGE withdrawals after experiencing a major issue where Binance users were unable to withdraw Dogecoin for 17 days. Additionally, 1,634 users on Binance were sent old transactions due to a conflict of several DOGE wallet versions. This happened due to a “combination of unlikely factors” and ultimately affected only Binance, the exchange wrote: “In short, if 1) your platform had listed DOGE all …

Twitter has become an arena for another cryptocurrency-related battle due to Binance experiencing ongoing issues with Dogecoin (DOGE) withdrawals. Tesla CEO Elon Musk, one of the world’s biggest Dogecoin fans, took to Twitter on Tuesday to bring up issues related to DOGE withdrawals on Binance. Tagging Binance CEO Changpeng Zhao, Musk wrote: “What’s going on with your Doge customers? Sounds shady.” Binance’s official Twitter account took about 30 minutes to respond, arguing that there’s nothing shady with the issue and citing a fresh Twitter update regarding the problem. “The root cause is a technical issue during the recent upgrade process …

Binance, the world’s largest cryptocurrency exchange, is reportedly in talks with sovereign global wealth funds to sell them a stake in the company. In addition to planned “mega funding” for its United States-based business Binance.US, Binance is now also seeking global funding to improve relationships with regulators, Binance CEO Changpeng Zhao said in a Tuesday interview with The Financial Times. According to Zhao, the upcoming funding is aimed to improve its “perception and relationships” with many governments as multiple financial regulators around the world have been cracking down on Binance this year. “But it may also tie us to specific …

Analytical data from BscScan, a sister product of Etherscan, reveals that Binance Smart Chain (BSC) surpassed 14.7 million blockchain transactions on Nov 16. This establishes a landmark all-time high for the decentralized finance (DeFi) network which exceeds the previous high of 13.1 million recorded on July 29 this year. In addition, 276,446 new wallet addresses were created yesterday, a notable advancement of the 111,244 new addresses on July 29. The BSC team tweeted an official announcement this morning to share the successful milestone. Congratulations to the whole #BSC community! Binance Smart Chain hit a record-breaking milestone of over 14.7 million …

Major crypto exchange Binance took a compliance-friendly approach to its business after years of cat-and-mouse game with regulators around the world and it worked surprisingly well in terms of user retention, according to a new interview with Binance CEO Changpeng Zhao. Speaking to Bloomberg News, CZ noted that Binance made Know Your Customer (KYC) processes mandatory “for global users, for every feature” in a bid to attract new users as a regulatory-compliant business. He revealed that Binance lost about 3% of the users after making KYC obligatory. Binance didn’t immediately respond to Cointelegraph’s request for confirmation. KYC is a common …

Even with no physical headquarters and seemingly few regulations affecting its business practices, Binance could reportedly be worth three times as much as Coinbase if it were to go public today. According to a Nov. 11 report from the Wall Street Journal, former executives of the major cryptocurrency exchange estimated Binance could be worth up to $300 billion as a publicly traded company considering its current trading volume and transaction fees. Data from CoinMarketCap shows Binance with a trading volume of more than $46 billion in the last 24 hours, making it the top ranked exchange ahead of Coinbase at …

Major cryptocurrency exchange Binance announced the suspension of all transaction withdrawals on its platform on Monday morning due to a “large backlog” of data. CEO, Changpeng Zhao, assured all users that funds were safe, before the functionality was restored. The platform shared this announcement on their official Twitter page via a thread, stating: We're on it. Funds are SAFU. https://t.co/LbJbZsVhl0 — CZ Binance (@cz_binance) November 1, 2021 Following the initial stoppage, Binance informed users that withdrawal activity had been resumed, but reversed that action a mere 20 minutes later. The firm apologized to their global customer base for the inconvenience …

The Binance cryptocurrency exchange has announced a $1 billion accelerator fund to expand the capabilities of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector. The exchange showcased the eight-figure fund in a tiered development model across four specialist areas: Talent Development, Liquidity Incentive Program, Builder Program and Investment & Incubation Program. The announcement suggested that they will allocate $100M, $100M, $300M and $500M to each segment, respectively. The largest benefactor of the pot, the investment & incubation program, will focus on multi-chain expansion of the already burgeoning areas of the technological sphere. This includes …

Under pressure from regulators around the world, major exchange Binance is looking to establish headquarters in Ireland. Until now, it has operated globally for years under what its CEO, Changpeng Zhao, has described as a “decentralized” structure. A Wednesday report from Irish media outlet Independent noted that Binance had established three subsidiaries in the country on Sept. 27 — Binance (APAC) Holdings, Binance (Services) Holdings and Binance Technologies — with Zhao listed as the director for each. In an interview with Reuters published on Thursday, Zhao stated that Binance is currently “in the process of establishing a few headquarters in …

Binance’s affiliate United States-based cryptocurrency exchange, Binance.US, is targeting an initial public offering (IPO) in 2024, according to Binance CEO and founder Changpeng Zhao. Binance.US is planning to close a large private funding round in the next two months that would allow the firm to become more independent from the global exchange, Zhao said on Wednesday in an interview with tech publication The Information. Zhao is confident that the global crypto exchange will survive the ongoing regulatory crackdown by global regulators, and that Binance.US will move toward a public listing in three years. “Binance.US is just going to do what …

Changpeng Zhao, the chief executive officer and founder of Binance, has said he wants the major cryptocurrency exchange to work with local regulators as it establishes regional headquarters. According to a Tuesday report from Reuters, Zhao, also known as CZ, hinted Binance would depart from its decentralized approach to finance and wanted the exchange to coordinate with regulators as the company expands. "We want to be licensed everywhere," said CZ. "From now on, we’re going to be a financial institution." Zhao reiterated that he might be willing to step down as CEO should someone "with a strong regulatory background" be …

Binance, the world’s largest cryptocurrency exchange, continues adopting new leverage trading restrictions on its futures platform in a move to expand consumer protection. After introducing a 20x leverage limit for new users on July 19, Binance Futures is preparing to apply the same limit for existing users soon, Binance CEO Changpeng Zhao announced Sunday. “We didn’t want to make this a thingy,” the CEO said, noting that the new restrictions will be applied “over the next few weeks.” .@binance futures started limiting new users to max 20x leverage last Monday, Jul 19th, 7 days ago. (We didn't want to make …