Binance CEO Changpeng Zhao said the exchange will convert nearly $1B worth of Industry Recovery Initiative funds into native crypto assets following recent turmoil in the stablecoin market.
Vertex is a new decentralized crypto exchange positioning itself as an alternative to centralized exchanges that have faced greater regulatory scrutiny.
Binance has upgraded its Proof-of-Reserves system to allow users to verify their assets for 11 new tokens. This brings the total number of verifiable tokens on Binance's PoR system to 24 coins.
Coinbase has acquired hedge fund manager One River Digital Asset Management (ORDAM) to expand business following a decline in annual transaction volume.
Coinbase has announced its Layer 2 network, Base. The network, built on Optimism’s OP Stack, offers secure, low-cost, and developer-friendly ways to build dApps.
Binance will employ a semi-automated process for managing the reserves of its issued tokens following reports about the exchange’s mismanagement of B-token reserves.
Coinbase will add support for Euro Coin on ERC-20 token, and trading in supported regions starts on or after 9 AM PT on February 27. Also, support for EUROC will be added using the Experimental asset label.
Coinbase still maintains a strong regulatory position despite the US's disjointed approach. Also, the exchange shared its Q4 and FY’22 report with its shareholders, giving a breakdown of everything happening in the company.
Coinbase’s total earnings for the fourth quarter of 2022 were higher than analysts’ expectations despite a 12% decline in quarterly transaction revenue.
OKX’s February Proof-of-Reserves report revealed that the exchange holds $8.6B in clean assets. According to the report, OKX’s reserves of Bitcoin, Ethereum, and Tether remain overcollateralized.
Binance and Huobi have frozen $1.4M worth of crypto assets stolen by North Korean hacking group, Lazarus. The exchanges were able to suspend the accounts linked to Lazarus thanks to the findings of Elliptic.
Changpeng Zhao claimed that the pressure from regulators may shrink the USD stablecoin market and cause the crypto industry to switch to non-USD stablecoins.
Binance has integrated zk-SNARKs into its PoR system. This is a continued effort to promote transparency in the industry and regain users’ trust. Also, four tokens were added to the system.
Leon Foong, Binance’s head of Asia-Pacific, claimed that a comprehensive audit of the exchange’s reserves will take time due to the steep learning curve associated with auditing crypto firms.
Coinbase announced its plans to cut 20% of its jobs and close down projects that have a low probability of success to survive the bearish crypto market.
Clients of FTX International have requested the court to withhold their identities and private information from FTX's bankruptcy filings to protect the exchange's user base from identity theft and other cyber scams.
Binance reported that Mazars has stopped offering services to crypto exchanges. The auditing firm removed the web pages that showed its Proof-of-Reserves (PoR) audits conducted on Binance, Crypto.com, and KuCoin's reserves.
Coinbase has introduced a new self-service asset recovery tool for unsupported ERC-20 tokens. This will enable the recovery of funds mistakenly sent to a Coinbase address.
Mithril had asked Binance for a 200,000 BNB ($53M) refund after the exchange delisted its token. Binance delisted Mithril after its review showed the project was not meeting up with the exchange’s standards.
In a recent Twitter Space discussion, Changpeng Zhao claimed that investors are more likely to lose their crypto assets by keeping them in private wallets instead of centralized exchanges.
Binance's clients withdrew over $1.9B from the exchange in the last 24 hours. The $1.9B figure marks the highest volume withdrawn from Binance within a day since June.
Crypto.com has released its Proof of Reserves which Mazars Group verified. The exchange aims to restore users’ trust and develop a culture of accountability and transparency in the industry.
Binance.US expanded its Zero Fee Trading program to Ethereum (ETH). This will allow users to trade on ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD pairs without paying any fees.
Swyftx has cut about 35% of its employees in its second round of layoffs due to the worsening market conditions. The exchange laid off 90 employees today to re-position better and ensure financial stability.
Bybit has reduced its workforce due to the increasing effects of the bear market. This is part of its ongoing re-organization to enable them to deliver the crypto ark to the world with more passion and drive.
BitMEX has launched its PoL system, allowing depositors to self-verify their liabilities in the company’s total liability balance sheet. Client privacy is achieved through the complete publication of the Merkle tree and the random splitting of user balances.
Pavel Durov, the Founder and CEO of Telegram, announced his plans to build a decentralized crypto exchange and non-custodial wallets as a response to FTX's collapse.
Binance has finally re-entered Japan with its SEBC acquisition deal. The exchange is now a JFSA-regulated entity offering crypto-regulated services in Japan.
After Binance moved 127K Bitcoin tokens to an unknown wallet, Changpeng Zhao claimed that the transaction was a part of the exchange's Proof-of-Reserves (PoR) audit.
Binance has pledged $1B as an industry recovery fund for distressed crypto companies. The fund established by the exchange will help provide financial support and serve as an avenue for restoring confidence in Web3.
Liquid Global has paused its trading services five days after suspending fiat and crypto withdrawals. This action is in accordance with FTX’s Chapter 11 bankruptcy proceedings in the Delaware Courts.
