Archive for the ‘Binance’ Category

Binance (BNB) and Dogecoin (DOGE) Succumb To Selling Pressure … – Cryptonews

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Pomerdoge is a new project that has shown immense growth in its initial weeks. Experts believe it to grow by 4,000% by the end of this year.

On the other hand, projects like Binance (BNB) and Dogecoin (DOGE) have failed to see an uptick in their value.

Click Here To Find Out More About The Pomerdoge (POMD) Presale

Amid the increasing regulatory pressure, Binance (BNB) has decided to end P2P (peer-to-peer) payments support for five sanctioned Russian banks. Binance (BNB) has taken this decision after facing severe criticism for its indifference towards the international sanctions against Russia.

For the past many months, Binance (BNB) has been trapped in troubled waters. The SECs lawsuit against Binance has caused a severe erosion in the market capitalization of BNB. The market capitalization of the fourth-largest cryptocurrency, Binance (BNB), has dropped by $15 billion over the last two months.

Meanwhile, the market value of Binance (BNB) has dipped 11% on the weekly chart. Thus, Binances (BNB) current trading price has come down to $217.50.

Barring Xs CEO, Elon Musk, nothing seems to be favoring Dogecoin (DOGE) at present. As per the latest data from Santiment, the supply of Dogecoin (DOGE) on exchanges has increased in recent weeks. This indicates that investors are willing to shed their Dogecoin tokens, as they fear DOGE can slide further.

In the last month, Dogecoins (DOGE) market value has plummeted by around 19%. Therefore, Dogecoins (DOGE) trading price has fallen to $0.0629. Moreover, LunarCrushs data has shown that bearish sentiments around Dogecoin (DOGE) have increased by around 10% in the past three months. Thus, it can aggravate the condition of Dogecoin (DOGE).

Pomerdoges presale has become a new market sensation. To date, it has sold more than 180 million POMD tokens, and over $4.8 million have been raised. Thus, it indicates a massive demand for this new project. It is a P2E (play-to-earn) Web3 project that is likely to surpass Shiba Inu and Dogecoin in growth soon. As per a market report, the global P2E (play-to-earn) gaming industrys size can sail at a CAGR of more than 21% in the next five years.

It is ready to launch a P2E game, called Pomergame, in Q4 2023. It will empower players to go to battles and earn rewards and money. Besides, they can create customized in-game items to upgrade their avatars. The players will be able to trade their in-game assets with other gamers in the community.

The platform will also launch 7,777 non-fungible tokens (NFTs). But, only POMD holders will be allowed to buy and own these NFTs. Its ecosystem is run by POMD tokens, and will offer a wide range of benefits. Its users can also stake tokens to yield extra income.

The first stage of the Pomerdoge presale is selling out quickly, and the value of a token has skyrocketed by around 120%, from $0.007 to $0.0165, within a few days. As per market pundits, the tokens market value can pump by 1,700% during the presale round. After the end of the presale round, the platform will enlist the tokens on Uniswap.

Click Here to Buy Pomerdoge (POMD) Tokens.

Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge

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Binance (BNB) and Dogecoin (DOGE) Succumb To Selling Pressure ... - Cryptonews

Balancer, Coinbase, Bitcoin, Binance, Walmart and Other Crypto News – Tekedia

Balancer, a decentralized finance (DeFi) platform that allows users to swap tokens and provide liquidity, was hit by a DNS attack on its front-end website on Monday. The attackers managed to hijack the domain name and redirect users to a phishing site that asked for their private keys. Balancer said that no funds were lost and that the issue was resolved within a few hours. The platform advised users to avoid interacting with its website until further notice and to use alternative interfaces such as Zapper or Zerion.

Coinbase, one of the largest cryptocurrency exchanges in the world, has announced that it is closely monitoring the situation of Zcash, a privacy-focused coin that has recently seen a significant increase in its hash rate. According to a blog post by Coinbase, a mining pool called Luxor has managed to capture more than 50% of the Zcash networks hash power, which could pose a threat to the security and decentralization of the coin.

Coinbase stated that it is working with other exchanges and stakeholders to ensure the safety of its customers funds and transactions, and that it will take appropriate measures if any malicious activity is detected. Coinbase also advised its users to be cautious when sending or receiving Zcash, and to avoid using shielded transactions, which are more vulnerable to attacks.

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Ledger, the leading provider of hardware wallets for cryptocurrencies, has announced that its Recover service will be available by the end of 2023. The Recover service is designed to help users who have lost access to their Ledger devices or their recovery phrases to restore their funds. The service will use a combination of cryptographic proofs, trusted third parties and user verification to ensure the security and privacy of the recovery process.

Ledger CEO Pascal Gauthier said that the Recover service is a result of years of research and development, and that it will offer a new level of convenience and peace of mind for Ledger users. We believe that everyone should have the right to access and control their own digital assets, even in the worst-case scenarios. Thats why we have created Recover, a service that will allow our users to recover their funds in a secure and user-friendly way, without compromising on our core values of security and sovereignty, Gauthier said.

According to a report by K33, a crypto analytics firm, Binance was the main contributor to the drop in bitcoin spot trading volume in September. The report stated that Binances spot volume decreased by 31% month-over-month, while the global spot volume declined by 22%. The report attributed the decline to regulatory pressures, competition from other platforms, and lower market volatility.

Taurus, a leading provider of digital asset infrastructure solutions, has announced that it will support private blockchains for its custody and tokenization services. This will enable clients to leverage the benefits of blockchain technology while maintaining control and privacy over their data.

Taurus claims that its platform is the first to offer such a comprehensive solution for private blockchains, which can be used for applications such as digital identity, supply chain management, and asset tokenization. Taurus says that its platform is compatible with any private blockchain protocol, and that it can integrate with existing systems and processes seamlessly.

Walmart, the worlds largest retailer, has announced its intention to explore new opportunities in the metaverse, the virtual environment where people can interact with digital content and each other. The company said it will leverage its expertise in e-commerce, logistics, and customer service to create immersive and engaging experiences for its customers and partners in the metaverse.

Walmart also said it will collaborate with leading platforms and developers in the metaverse space to integrate its products and services into various virtual worlds. The companys goal is to become a leader in the emerging metaverse economy and to offer value and convenience to its customers across different realities.

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Balancer, Coinbase, Bitcoin, Binance, Walmart and Other Crypto News - Tekedia

Binance.US CEO Leaves Embattled Crypto Exchange – The Wall Street Journal

  1. Binance.US CEO Leaves Embattled Crypto Exchange  The Wall Street Journal
  2. Binance.US CEO departs as crypto company cuts a third of its workforce  The Associated Press
  3. Binance.US Head of Legal and Chief Risk Officer Leaving the Crypto Exchange: WSJ  CoinDesk

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Binance.US CEO Leaves Embattled Crypto Exchange - The Wall Street Journal

Binance.US not cooperating with investigation, US SEC says in filing – Cointelegraph

The United States Securities and Exchange Commission (SEC) has accused Binance.US of non-cooperation in the ongoing investigation against the crypto exchange, according to a court filing dated Sept. 14.

The SEC in its court filing noted that Binance.USs holding company called BAM has produced only 220 documents during the discovery process. Many of the submitted documents under the Consent Order consist of unintelligible screenshots and documents without dates or signatures.

SEC added that BAM has refused to produce essential witnesses for deposition, instead agreeing only to four depositions of witnesses it has unilaterally deemed appropriate and said:

The SEC also raised concerns over Binance.US's use of Ceffu, wallet custody software provided by the global entity Binance Holdings Ltd. The SEC noted that BAM made inconsistent statements about Ceffus and Binances involvement in the wallet and customer funds management.

SEC said that BAM first claimed Ceffu was BAMs wallet custody software and services provider but later stated that Binance was BAMs wallet custody software provider. The regulators raised concern that the crypto exchange's usage of Ceffu violates a prior agreement meant to prevent funds from being diverted abroad.

Related: Binance plans new round of layoffs amid increased regulatory scrutiny

The SEC filed a lawsuit against Binance on June 5, pressing 13 charges against the crypto exchange including unregistered securities offerings, the Simple Earn and BNB Vault products, and its staking program. The SEC claimed that Binance.com, Binance.US, and BAM Trading should have registered as clearing agencies, broker-dealers, and exchanges, respectively. The unregistered offer and sale of Binance.US' staking-as-a-service programme required BAM Trading to register as a broker-dealer as well.

The latest accusations by the SEC against Binance.US come amid an internal crisis at the exchange. The Binance.US CEO Brian Shorder joined the long list of top Binance executives leaving the firm this year followed by the resignation of the head of legal and the exchanges chief risk officer within days.

Binance.US didnt immediately respond to requests for comments.

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Magazine: US and China try to crush Binance, SBFs $40M bribe claim: Asia Express

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Binance.US not cooperating with investigation, US SEC says in filing - Cointelegraph

Hearing Date Set for Binance vs. SEC Lawsuit Motions in Ongoing Legal Battle Here’s What You Need to Know – Cryptonews

Source: Adobe

In the ongoing legal clash between Binance, the prominent cryptocurrency exchange, and the US Securities and Exchange Commission (SEC), a significant hearing date has been scheduled for two crucial motions.

As per the recent court filing, Magistrate Judge Zia M. Faruqui has designated the hearing for Monday, September 18, at 1:00 PM ET.

The pivotal motions numbered 95 were filed by BAM Management and BAM Trading Services, the legal entity of Binance.US, and 102 by the SEC, respectively.

Motion 95, known as the protective order, aims to secure specific sensitive information filed by Binance's affiliates.

Meanwhile, Motion 102, presented by the SEC, opposes the protective order and seeks permission to file certain documents under seal.

On the scheduled date, Judge Faruqui will listen to arguments from Binance's affiliates and the SEC. The SEC is anticipated to argue against the protective order and request authorization to keep certain documents confidential.

In a joint motion submitted on Monday, Binance Holdings and Binance.US proposed a protective order to govern how sealed documents are treated and disclosed during litigation.

However, the US SEC has a different stance, seeking additional details from Binance.

Binance.US also submitted sealed documents for the proposed order and opposed the SEC's motion to compel, among other requests.

The filing made on September 12, is the latest development in the legal standoff between the SEC and Binance, where Binance.US has called the compel and reply motion by the SEC unreasonable and unduly burdensome.

In the court documents, Binance.US argued that the depositions requested by the SEC are excessive. The defendant's attorneys highlight that the SEC's claims revolve around custody, transfer, and commingling of user assets, for which ample evidence has been provided by staff members with direct knowledge of the matter, including the chief information security officer, Erik Kellogg.

The subsequent day saw the resignation of Brian Shroder, the President and CEO of Binance US. While the reason for his departure was not disclosed, Norman Reed, the Chief Legal Officer, has been appointed interim CEO.

In response to this news, Binance also announced the termination of over 100 employees, constituting approximately one-third of its workforce.

CEO Changpeng Zhao attributed these layoffs to the SEC's actions, accusing the commission of hampering the industry and impeding American jobs and innovation.

"The SEC's aggressive attempts to cripple our industry and the resulting impacts on our business have real-world consequences for American jobs and innovation, and this is an unfortunate example of that."

This legal battle began in June, when Binance was charged by the US Securities and Exchange Commission with 13 charges against Binance.US and its CEO, Changpeng Zhao, for allegedly violating US securities regulations.

These charges encompass offering unregistered securities and failing to restrict US investors from accessing the Binance.com platform.

Binance.US refuted the SEC's allegations of misconduct in non-motion documents, asserting that there is no evidence of commingled funds, control by Binance CEO Changpeng Zhao, or diversion of customer assets.

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Hearing Date Set for Binance vs. SEC Lawsuit Motions in Ongoing Legal Battle Here's What You Need to Know - Cryptonews