Weibo’s Ban of Binance and TRON Accounts Questions China’s New Crypto Policy

Weibo’s Ban of Binance and TRON Accounts Questions China’s New Crypto Policy

Weibo, a Chinese microblogging social media platform, has banned accounts of Binance and TRON, two major crypto entities. The initial reason given for this blockage is “violation of laws and regulation” by the platforms. No further details are provided. Interestingly, the Weibo accounts of Binance CEO and TRON Foundation founder, Zhao Changpeng and Justin Sun respectively, are still working. Other cryptocurrency projects and crypto exchanges, which are either based in China or operate in China…

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Crypto Exchange FTX Slapped with $150M Lawsuit; Calls It ‘Bullshit’ by ‘Assholes’

Crypto Exchange FTX Slapped with $150M Lawsuit; Calls It ‘Bullshit’ by ‘Assholes’

The parent company of the crypto derivatives exchange FTX, Alameda Research, has been slapped with a $150 million lawsuit for market manipulation. The mysterious plaintiff is known as the “Bitcoin Manipulation Abatement LLC,” an entity about which currently there are no details online, either to secure its anonymity or to suggest that a group of people is involved. The lawsuit came into light through social media when Samuel McCulloch, host of podcast show “End of…

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Binance Invests in Chinese Crypto News Publication Mars Finance

Binance Invests in Chinese Crypto News Publication Mars Finance

One of the largest crypto exchanges in the world, Binance, made its first strategic Chinese investments since leaving China back in 2017. Binance joined the third funding round of Beijing-based Mars Finance, a local crypto and blockchain news publication. The exact amount invested wasn’t disclosed; however, Chinese media and data source Mars Finance is valued at somewhere in the vicinity of $200 million. According to Bloomberg, Mars Finance can be a potential rival to leading…

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New York Regulator Greenlights Paxos to Launch Gold-Backed Cryptocurrency

New York Regulator Greenlights Paxos to Launch Gold-Backed Cryptocurrency

Linda A. Lacewell, Superintendent of Financial Services, confirmed that New York State Department of Financial Services (NYDFS) has allowed Paxos Trust Company LLC to offer a gold-backed virtual currency. This will be the first such virtual currency due to be authorized by NYDFS that will be backed by the gold and the dollar. Lacewell acknowledged her organization’s commitment to further innovation to ensure safety and soundness to New Yorkers and the rapidly developing financial services…

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Crypto Exchange Feud: BitMEX Catches Binance Plagiarizing its Documents

Crypto Exchange Feud: BitMEX Catches Binance Plagiarizing its Documents

The popular crypto exchange BitMEX used its Twitter account to taunt and expose another popular crypto exchange, Binance, for copy-pasting its platform’s Bitcoin futures documentation. The evidence reveal word for word copying of the documents. Peace in the social media’s crypto circle was disrupted by storming evidences unleashed by BitMEX with a sarcastic taunt targeting Binance for copying the former’s documentation of its upcoming crypto futures platform. Pictures were shared (as presented below) to compare…

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Binance Buys Crypto Derivatives Exchange JEX to Enter the Futures Market

Binance Buys Crypto Derivatives Exchange JEX to Enter the Futures Market

Binance has published an announcement on September 2nd, disclosing the acquisition of the little-known crypto derivatives platform JEX. One of the world’s largest crypto exchanges and trading platforms is planning to step into the derivative market and JEX might open the doors of crypto futures and options markets for Binance. Binance has also been working on the development of its native derivative platform. It will allow the clients to trade on the JEX platform as…

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Crypto Exchange Binance Hopes to Address Regulatory Concerns about Venus

Crypto Exchange Binance Hopes to Address Regulatory Concerns about Venus

The Malta-based crypto exchange Binance has expressed that enough lessons were learned from Facebook’s Libra and now it is looking forward to forge partnerships with regulators to ensure its new digital currency, Venus, does not suffer the same regulatory backlash as Libra did. Binance plans on working with regulators to ensure that its upcoming digital currency complies with the appropriate cryptocurrency regulations of a country before it is launched there. Last week, in a press…

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Samsung Blockchain Wallet Now Supports Binance Coin (BNB) and Other Stablecoins

Samsung Blockchain Wallet Now Supports Binance Coin (BNB) and Other Stablecoins

After adding support for Bitcoin(BTC)trade and Kakao’s Klaytn on August 14th, Samsung Blockchain Wallet in Galaxy S10 and its variants will support Binance Coin (BNB) and some other popular cryptocurrencies along with support for additional few stablecoins. To date, Samsung Blockchain Wallet supports several popular cryptocurrencies and stablecoins. The South Korean tech giant has launched its flagship smart devices Samsung Galaxy S10 and Note 10 (along other different variants of these models) with a built-in…

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Crypto Giant Binance Introduces New Stablecoin Development Project: Venus

Crypto Giant Binance Introduces New Stablecoin Development Project: Venus

The crypto exchange giant Binance is here to make good of its goal to push forward the crypto world yet again through the launch of a new blockchain project dubbed Venus, which is touted the “independent regional version of Libra.” Yi He, Binance co-founder, stated: “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the…

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Private Key Negligence: BBC Journalist Reveals How He Was Robbed £25,000 in Ethereum

Private Key Negligence: BBC Journalist Reveals How He Was Robbed £25,000 in Ethereum

Monty Munford, a tech journalist for the BBC, has shared the story of how he lost £25,000 in cryptocurrency due to his own negligence. Cryptocurrencies are the path to true economic freedom and decentralization. However, until there are proper checks and balances in place to protect those who understand less of how the technology works and how it can be exploited, cryptocurrencies will continue to be used by unscrupulous swindlers to defraud people and rob…

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