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With a separate company, Binance re wants to avoid unnecessary attention in Hong Kong while dealing with regulators overseas. Crypto exchange Binance is rumored to hide behind HKVAEX, a Hong Kong-based crypto trading platform established in 2022. Currently, HKVAEX is trying to apply for a retail trading license in the region, the South China Morning Post has learned, citing sources familiar with the matter. Although HKVAEX was established as an independent firm under BX Services Ltd, it shares resources with Binance (e.g., terms of use). Moreover, the report says it uses the exchange’s servers for fetching content, such as shared code, and the exchange’s content delivery domain bnbstatic.com. You might also like: Binance’s UK chief resigns amid regulatory pressure A spokesperson for Binance denied the connection between the firms. “HKVAEX is not in the Binance Group of companies.” Binance’s spokesperson in a comment to SCMP HKVAEX’s r...

Prominent cryptocurrency exchanges like Binance, OKX, and MoonPay have announced their commitment to adhere to the United Kingdom’s recently enacted regulations governing financial promotions in the cryptocurrency sector. The U.K. Financial Conduct Authority (FCA) ushered in the country’s novel Financial Promotions (FinProm) Regime on October 8th, with the aim of ensuring fairness, transparency, and integrity in cryptocurrency promotions. On October 6th, Binance unveiled a dedicated domain for its U.K. user base and formed a partnership with the local peer-to-peer lending platform Rebuildingsociety. In alignment with these compliance updates, starting from October 8th, Binance’s U.K. retail users will be redirected to a localized domain, exclusively showcasing Binance products and services that align with U.K. regulations. These offerings encompass spot and margin trading, Binance Pay, its nonfungible token (NFT) marketplace, loans, and more. However, in accordan...

The head of legal , Krishna Juvvadi, and chief risk officer , Sidney Majalya, are leaving Binance US following the recent news on layoffs. According to the Wall Street Journal, the departure of both executives follows the recent exit of its former CEO, CEO Brian Shroder. Juvvadi and Majalaya joined the company in May 2022 and December 2021, respectively. On Sept. 13, Binance US, the American branch of the company, fired one-third of its staff. You might also like: Binance US CEO leaves as company lays off third of its staff Recently, Binance has faced regulatory issues worldwide in countries like the Netherlands, Belgium, and Russia. The company has been evaluating the option of leaving the Russian market. Amid the rumors, two major Russian execs who headed the business in the CIS left the company. Binance complex situation in the US Binance, one of the world’s largest cryptocurrency exchanges, has faced significant legal issues in the United States. The Securities an...

A sixth Binance executive has announced their resignation, adding to the troubled crypto exchange’s woes. On Monday, it was confirmed that Mayur Kamat, Binance ’s global head of product, would be leaving after just over 16 months.  Explaining his departure, Kamat told The Block, “I have worked closely with product leads to ensure a seamless transition. It is also a good time for me personally to take some time off after 20 years of non-stop product work.” He thanked Binance, its chief exec Changpeng Zhao (CZ), and the leadership team for “an experience of a lifetime.” Binance’s troubles reportedly spurred executive resignations Five other executives have quit working at Binance recently: Asia-Pacific head Leon Foong (resigned August 31) Compliance executive Steven Christie (resigned July 7) Chief strategy officer Patrick Hillmann (resigned July 6) General counsel Hon Ng (resigned July 6) US-based chief business officer Yibo Ling (resigned July 6) According to F...

Binance Announces Liquidity Pool Removal Crypto exchange Binance in an official announcement on August 28 revealed plan to remove 39 liquidity pools. Typically, Binance periodically adds and removes crypto from its products and services. However, the U.S. SEC and CFTC lawsuits and regulatory challenges have forced Binance to make these changes as trading volumes and liquidity fell significantly. advertisement “We periodically review listed liquidity pools to concentrate liquidity for our users and ensure optimized trading experience, price and slippage.” Binance will remove 13 BNB pairs from liquidity pool on September 1 at 04:00 UTC. These are ADA/BNB, MATIC/BNB, FIL/BNB, AVAX/BNB, TRX/BNB, CHZ/BNB, CTSI/BNB, GALA/BNB, NEO/BNB, SUSHI/BNB, SXP/BNB, THETA/BNB, and ICP/BNB. Pairs in Bitcoin and Ethereum pairs are ALICE/BTC, APE/BTC, CHZ/BTC, ID/BTC, SUSHI/BTC, SXP/BTC, THETA/BTC, and TRX/ETH. Recommended Articles ...

In July, Kraken reinforced its dominance as the top platform for altcoin trading in the US. Kaiko reports reveal that Kraken commanded nearly 50% of the market depth for the top 10 altcoins. On Aug. 9, Kaiko’s research analyst, Dessislava Ianeva, spotlighted Kraken’s significant altcoin market influence. In July, Kraken emerged as the most liquid platform for alts in the US. Its claiming almost half of the market depth for the top 10 alts. pic.twitter.com/2fumt7yi9a — Dessislava Ianeva (@DessislavaIane2) August 9, 2023 Known for its impressive euro volume and liquidity, Kraken supports trading over 100 cryptocurrencies and seven fiat currencies. Founded in 2011 and launched in 2013, Kraken caters to over 8 million traders and institutional clients. Its prominence has grown, particularly after Binance and Coinbase faced SEC allegations. You might also like: Binance engages former DOJ prosecutor to counter SEC allegations Such allegations triggered...

The Collection’s Unique Features The new NFT collection titled “ForeverCR7: The GOAT” NFT collection aims to focus on recognizing Ronaldo’s great career achievements, notably his stunning goals on the football field. advertisement The collection which has been scheduled for release on July 3rd presents a diverse array of 20 distinct designs, each capturing a significant goal from Ronaldo’s illustrious career. These designs are classified into four levels of rarity, providing collectors with a variety of alternatives according to their preferences.  Whether it’s a breathtaking bicycle kick or a powerful long-range strike, each design encapsulates the essence of Ronaldo’s goal-scoring prowess. Among the most coveted items in the collection are the super rare NFTs , which feature six unique designs. With only 120 special products available, these super-rare NFTs are extremely valuable to collectors. Each super rare NF...

Binance crypto exchange has announced support for direct deposit and withdrawal of the USDC stablecoin via the Arbitrum network. Arbitrum USDC deposits and withdrawals  Following the integration of USD Coin (USDC) on the Arbitrum One network, on June 16, Binance, the world’s largest bitcoin (BTC) trading venue, has added support for direct USDC deposits and withdrawals via the Arbitrum network. However, it is important to note that Binance users can only initiate withdrawals for USD Coin (USDC) on the Arbitrum One network once there are sufficient deposits. Binance will not notify users separately regarding the opening of withdrawals.  Binance urges users to select the right chain when deposit ing/withdrawing USDC to avoid inconveniences.  You might also like: Arbitrum rallies to become top trending coin on CoinMarketCap Arbitrum functions as a secondary layer on the Ethereum blockchain. It aims to address the challenges of slow transaction speeds, limit...

The firms were cited anonymously in the CFTC's complaint describing Binance’s alleged facilitation of U.S. clients. Trading firms Jane Street Group, Tower Research Capital and Radix Trading have been reportedly identified as Binance’s three “VIP” clients that were cited anonymously in the recent lawsuit filed against Binance by the United States commodities regulator. According to an April 5 Bloomberg report citing "people familiar with the matter,” Radix Trading is “Trading Firm A” as described in the Commodities Futures Trading Commission's (CFTC) suit while Jane Street was “Trading Firm B” and Tower Research was “Trading Firm C.” The firms on the CFTC's list were examples of U.S. clients allegedly able to access Binance. The Wall Street Journal (WSJ) first reported on March 28 that Radix Trading was “Trading Firm A.” Radix co-founder Benjamin Blander told the WSJ in a March 30 report that he believed the firm acted legally even when trading with Binance's offs...