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Binance, the blockchain company behind the world’s largest cryptocurrency exchange, has launched direct USD deposits and withdrawals for users in more than 70 countries through BPay Global, according to details shared with Finbold on October 22.  BPay Global, a payments service provider licensed and regulated by the Central Bank of Bahrain and part of the Binance Group, will enable retail and corporate users in eligible regions to fund, store, and convert U.S. dollars to crypto and back from their fiat wallets. Direct on- and off-ramp for USD The new feature supports USD transactions via SWIFT bank transfers, with zero fees for deposits from Binance, as well as credit and debit cards, Apple Pay, and Google Pay. Thomas Gregory, Vice President of Fiat at Binance, said: “After much anticipation, we are happy to offer our users direct on- and off-ramp for USD, the most used currency for transactions around the world, which caters to our diverse global user bas...

Buying XRP on Binance.com has become one of the most popular ways to get this cryptocurrency, and right now, Binance clients bought around 147.81M XRP worth $430.58M in just the past 24 hours. You can also buy XRP with PayPal through several platforms, learn how to buy XRP for beginners on user-friendly exchanges, or even buy XRP online safely using established platforms like Kraken along with Binance. Also Read: XRP Price Set for $45 by 2050 as 985K Tokens Burn Each Year How to Buy XRP on Binance.com When you want to buy XRP on Binance.com, the process actually starts with creating a free account and getting your identity verified. The platform supports various payment methods right now, including credit cards, Google Pay, and Apple Pay for those instant purchases. You’ll need to head over to the “Buy Crypto” section, select XRP from the dropdown, and then choose your preferred payment method. Once you confirm within about one minute, the current price gets locked in,...

Yesterday, billionaire Binance founder Changpeng Zhao (CZ) asked how to launch a memecoin based on his pet dog. Acting as if he truly didn’t know how memecoin launches worked, he claimed that a few hours of research on X would help catch him up on the trend. He promised to “mull it over for a day or so.” Obviously, impatient traders jumped into action, and the topic instantaneously trended on X. Some bought existing dog-themed coins on BNB Chain while more sophisticated internet sleuths scoured the web for old photos of CZ, friends, and coworkers in a search for his dog. Honest newbie question. How does this work? I share my dog's name and picture, and then people create memcoins? How do you know which one is "official"? or does that even matter? (I see many people asking for a name and a picture. ) https://t.co/ZcvEhzgwmM — CZ BNB (@cz_binance) February 12, 2025 Read more: Binance moved $8 billion off its proof-of-reserves BNB Chain tra...

Bitcoin (BTC) retraced below the $100,000 psychological level, bringing uncertainty for some and a buying opportunity for others. As a display of the latter, exchanges registered over $2 billion in BTC outflow from their accounts in a week – the largest Bitcoin outflow this year. Finbold retrieved data from CoinGlass on December 24, looking at the exchange’s spot markets over the last seven weeks. From December 15 to today, exchanges saw a $2.12 billion outflow in BTC, which is currently trading at $95,177. This marks the largest weekly spot outflow year-to-date in dollar value, according to CoinGlass , surpassing May’s $2.03 billion. Notably, the previously largest 2024 outflow triggered a Bitcoin price crash from $58,240 down to $31,778. Picks for you Grinch steals $180B from Bitcoin market cap this Xmas 2 h...

Leading crypto exchange Binance and stablecoin issuer Circle are teaming up to expand the adoption of USDC. In a statement, Binance says the strategic partnership, which was announced at the Abu Dhabi Finance Week on Wednesday, will make USDC more available across its suite of products and services. The exchange says the collaboration will enable its users to seamlessly access and use the dollar-pegged stablecoin for trading, saving and payment applications. Says Binance CEO Richard Teng, “Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.” Binance says it will also integrate USDC into its financial strategy. “Additionally, Binance will adopt USDC as a vital U.S. dollar-pegged stablecoin for our corporate treasury, signaling a significant move towards on-chain financial operations.” For its part...

1. South Korea’s National Pension Service Acquires 245,000 Shares of MicroStrategy in Q2 link The South Korean National Pension Service (NPS) disclosed in a 13F filing to the U.S. Securities and Exchange Commission (SEC) that it purchased 245,000 shares of MicroStrategy during the second quarter of this year, valued at approximately $33.75 million. Previously, in the third quarter of last year, the NPS acquired 282,700 shares of Coinbase, marking its initial indirect investment in Bitcoin. As of July 31, MicroStrategy holds a total of 226,500 Bitcoins, making it the largest corporate holder of Bitcoin outside of Bitcoin spot ETF issuers. 2. HongKong’s Crypto News This Week 2.1 HashKey: Hong Kong’s ETH ETF Likely to Introduce Staking Functionality This Year link HashKey Group COO Livio Weng stated that the company is actively working on implementing staking functionality for Ethereum ETFs, anticipating that it could be launched within this year to meet the needs of clients moving away f...

Barry Silbert’s Digital Currency Group (DCG) has object ed to the bankruptcy plan of its subsidiary Genesis Global Capital because it wants to pay back a group of controlling creditors more than required. In a motion filed on Monday, DCG has said Genesis’ bankruptcy plan is unlawful, inequitable, and violates its rights. Under bankruptcy law, payouts of digital assets are determined by price at the time the firm officially went under. Bitcoin , for example, was worth $21,000 when Genesis filed for bankruptcy on January 20, 2023. At press time, however, bitcoin has appreciated by a whopping 105%, to over $43,000. Genesis has proposed to give “hundreds of millions of dollars more” to its general unsecured creditors in order to reflect this price change. Bitcoin’s recent price gains have also caused FTX creditors to object to far lower payouts. Read more: Genesis eyeing tax benefits after blocking DCG sale According to DCG, paying extra to a small gro...

Kenetic Capital, the most significant institutional holding of Render project tokens, transfer red almost 1 million RNDR. According to Etherscan, Kenetic Capital transfer red 999,990 RNDR to the cryptocurrency exchange Binance on Feb. 4. The transfer is valued at almost $4.5 million at the current exchange rate. Since Dec. 24, 2023, Kenetic Capital has transfer red 2.5 million RNDR, or $11.25 million at the time of writing, to Binance in 42 days. Kenetic Capital currently holds 4.1 million RNDR. After the transfer of RNDR to Binance, the token rate reacted with a drop of 5.3% in 24 hours, becoming the top loser of the day on CoinMarketCap. The price of RNDR dropped from $4.77 to $4.41 in a few hours and recovered to the level of $4.50 at the time of writing. Source: CoinMarketCap Despite the 5.3% drop, RNDR trading volumes increased by 33% over the past 24 hours, reaching $140 million. Render Token functions as a network that connects users who need to render their work w...

Explore the list of crypto bankruptcies in 2023, including detailed insights into the collapse of major exchanges. It’s quite evident that crypto had one of its worst years in 2022. The cascading collapse of two industry giants, Terraform Labs (responsible for LUNA and UST) and FTX, drove one of the harshest crypto winters in recent history. It eventually led to many bankruptcies, layoffs, and shutdowns across the market. So, 2023 mostly saw the fallout from the previous years, as the major bankruptcy proceedings from previous market leaders like Celsius, Voyager, Three Arrows Capital (3AC), BlockFi, and FTX progressed into different stages. Still, some notable crypto bankruptcies and exchange failures made it into the news. Let’s take a look at the list of crypto bankruptcies and failures of 2023. Notable crypto bankruptcies Genesis The year 2023 began under a cloud for the crypto currency sector, with Genesis, a prominent crypto lending subsidiary of Digital Curren...

Coinbase is winding down the GiveCrypto initiative, citing its failure to create a lasting impact. In a blog post on Dec. 15, Coinbase said its non-profit initiative founded by the exchange’s head Brian Armstrong was “unable to create lasting change purely through unconditional cash transfers.” According to the exchange’s statement, the initiative participants “returned to the same baseline” after the cessation of payments, prompting a reevaluation of the initiative’s approach. “Unfortunately, we were unable to create a lasting impact with recipients, who returned to the same baseline after payment ceased.” Coinbase You might also like: Former Coinbase exec cancels $1m bitcoin bet, donates $1.5m to charity In light of this, all remaining GiveCrypto funds will be redirected to two organizations: Brink and GiveDirectly. Brink is also a non-profit initiative, focused on strengthening Bitcoin’s software and protocol...

Binance ’s chief compliance officer Noah Perlman reportedly has ties to the collapse of FTX , the troubled Winklevoss-owned Gemini , and infamous sex trafficker Jeffrey Epstein. This is according to a report by investigative media outlet Unlimited Hangout. Perlman took up his current role at Binance after his predecessor Samuel Lim left the company last year and is, as detailed by Unlimited Hangout, front and center in Binance’s attempts to successfully negotiate numerous government investigations, including recent settlements with the Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and an ongoing legal tussel with the Securities and Exchange Commission (SEC). These issues have recently seen former Binance chief Changpeng Zhao (CZ) plead guilty in a Seattle court to a number of felony charges, and Lim agree to pay $1.5 million in civil penalties to the CFTC . However, according to Unlimited Hangout, Perlman’s own colorful history bears a closer look, p...

The U.S. Securities and Exchange Commission (SEC) continues its investigation to uncover proof that Binance.US may have had a backdoor mechanism akin to FTX’s, allowing potential control over customer assets. According to a Nov. 27 report, the SEC is intensifying its investigation into Binance.US over concerns of potential mismanagement of customer assets, a situation reminiscent of the recent FTX controversy. Back in June, the SEC initiated legal action against both Binance and its American counterpart, Binance.US. The charges leveled against them included the alleged sale of unregistered securities. The lawsuit also accused Binance and its founder, Changpeng Zhao, of being involved in a sophisticated conspiracy that included fraudulent activities, conflicts of interest, insufficient disclosure, and blatant disregard for legal regulations. Central to the SEC’s allegations is the claim that Binance.US had discretionary control over customer assets, with funds reporte...

The new head of cryptocurrency exchange Binance, Richard Teng, must find a way to ensure that the world’s largest cryptocurrency exchange can remain competitive as it navigates both crippling financial sanctions and US government oversight. According to Fortune, the new Binance CEO says the exchange is at a stage in its development where it is transforming from an unruly tech startup into a traditional financial company, comparing the firm to “a child getting ready to go to preschool.” At the same time, he admitted that Binance made several mistakes at the stage of its rapid development. The exchange became the world’s largest crypto firm within a year of its founding, but it has learned lessons since, he says. You might also like: Binance founder and CEO plead guilty to federal charges | Opinion Teng is also confident that he can take Zhao’s place, noting his ability to steward the beleaguered exchange forward: “I need to stress that I have the confiden...

Binance’s bitcoin reserves have depleted by $200 million in the wake of the crypto exchange and its ex-chief Changpeng Zhao (CZ) pleading guilty to federal charges in the US — while CZ has paid bond, prosecutors are fighting for him to remain in the country until he can be sentenced. According to CryptoQuant, on-chain data shows that mass amounts of Bitcoin is flowing from Binance to Coinbase. Binance ’s Bitcoin reserves have dropped by 5,000 BTC ($187 million). Meanwhile, Coinbase’s reserves are up by 12,000 BTC ($450 million). Binance has historically used its bitcoin reserves to prop up the price of its proprietary token, BNB, according to the Securities and Exchange Commission (SEC) and several crypto analysts. Both CZ and Binance vehemently deny the claims. Seven-day price chart of BNB. Read more: Does Binance chief CZ need the price of BNB to stay above $200? The price of BNB took a -14% plunge following news of the settlement and CZ ’s r...

Following Zhao’s resignation, Binance Coin’s value dropped, reflecting significant market volatility and investor uncertainty. What’s coming next? The recent developments surrounding Changpeng Zhao, the founder of Binance, have brought significant changes to the cryptocurrency industry. Zhao has agreed to step down as CEO and plead guilty to federal money laundering charges. This plea is part of a broader settlement with the United States Department of Justice (DOJ) and involves several federal agencies. The total fees associated with this settlement exceed $4 billion, comprising a forfeiture of $2.5 billion, a fine of $1.8 billion, and personal payments from Zhao amounting to about $50 million​​​​. Zhao’s guilty plea pertains to a single count of failing to maintain an effective anti-money laundering program.  This lapse led to Binance facilitating nearly $900 million in financial transactions that violated sanctions against countries like Iran, Cuba, Syria...