John Reed Stark, a former attorney for the US Securities and Exchange Commission (SEC) and staunch crypto critic, has labeled Binance a “shadow bank” that mints its own “counterfeit currency” while pr...
Tag: Changpeng Zhao
Binance Moved $400M to Trading Firm Managed by CZ: Report
Centralized cryptocurrency exchange Binance has moved an estimated $400 million from its US Silvergate Bank account to a trading firm managed by CEO Changpeng Zhao, Reuters reported. Binance reporte...
How Long Do Recessions Last?
Getty Images Key takeaways A recession occurs when economic indicators like gross domestic product, consumer demand and employment decline Since World War II, the average recession in the U.S. lasts a...
Binance Dominance Harks Back To Mt. Gox Heyday: Arcane
As the dust from a chaotic year settles, global exchange Binance is enjoying more dominance than ever, commanding as much as 92% of bitcoin spot volume. That’s according to an end-of-year study by Arc...
Binance’s Zhao defends exchange during CNBC grilling
Binance CEO Changpeng Zhao was grilled by CNBC reporters regarding hiccups with withdrawals from the exchange this week and the firm’s solvency. Binance earlier this week temporarily pause...
Binance CEO traveled to the US without publicizing it
Binance CEO Changpeng “CZ” Zhao has traveled to the U.S. but hasn’t publicized it because the firm cannot market to U.S. customers, the company said. Binance’s Chief Strategy ...
FUD or Fact? Binance Rumors, Analyzed
As some have called into question the health of crypto exchange Binance by criticizing its latest proof-of-reserves report and pointing to recent withdrawals, the firm has shot back against what it ca...
Binance Shows ‘Proof’ It Has All Your Bitcoin — Critics Aren’t Sold
Binance sought to quell concerns over its solvency with a “proof of reserve” report last week, but industry insiders and other pundits say the figures don’t do enough. The top crypto exchange by trade...
Sam Bankman-Fried: FTX Would Be More Stable if CZ Stayed Silent
Sam Bankman-Fried, disgraced boss of collapsed crypto exchange FTX, has claimed an extra $4 billion appeared minutes after filing for bankruptcy — money he says could’ve made out-of-pocket users whole...
Justin Sun, Tron DAO line up to contribute to Binance recovery fund: Exclusive
Blockchain operator Tron DAO and Justin Sun, its billionaire founder, have applied to contribute capital to Binance’s industry recovery fund. Binance published details of the fund yesterday afte...
Binance Pledges Up To $2 Billion To Bail Out Distressed Crypto Firms As FTX Contagion Spreads
Changpeng Zhao, cofounder and CEO Binance, spoke at a summit in Lisbon, Portugal in early November. Piaras Ó Mídheach/Sportsfile for Web Summit via Getty Images Binance, the world’s largest cryptocurr...
Binance targets $1 billion for ‘industry recovery fund’
Crypto exchange operator Binance is aiming to amass around $1 billion for its recently announced “industry recovery fund.” CEO Changpeng “CZ” Zhao discussed the plan on B...
CZ plans industry association to communicate with regulators worldwide
Binance CEO Changpeng “CZ” Zhao said he wants to set up an association of the largest crypto players to help work with policymakers and regulators worldwide. “The association will t...
Binance will launch a new ‘industry recovery fund’
Binance will launch a new fund to help prop up crypto projects facing liquidity crunches. Changpeng Zhao, Binance’s CEO, tweeted about the plan early on Nov. 14. “To reduce further cascadi...
How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain
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CZ vows to be ‘more vocal’ about competition following FTX collapse
Binance CEO Changpeng Zhao says he will be loosening up his “policy to not comment on competitors (we call industry peers) publicly” following the collapse of FTX. “Going forwa...
‘Beware’ Of Crypto Investing Or Risk Ending Up In Bankruptcy Court, SEC Chair Warns
Topline The head of the Securities and Exchange Commission cautioned Americans about the risks of investing in the lightly regulated cryptocurrency industry Thursday, a dire warning as one of the larg...
How an FTX buyout benefits Binance
What does Binance’s possible acquisition of FTX.com mean for the greater industry? For institutional clients, possibly avoiding a lengthy onboarding process. And for Binance, it could mean acces...
More Losses For Tiger Global From Its FTX Investment
Chase Coleman’s Tiger Global Management invested in the FTX crypto exchange at a $32 billion valuation. © 2017 Bloomberg Finance LP Tiger Global Management appears to have just taken another hit...
Crypto markets initially buoyed by Binance’s deal to buy FTX
Crypto prices popped following the announcement of Binance’s blockbuster deal to acquire rival FTX.com. FTX’s FTT token jumped 38% to almost $20 at 11:12 a.m. The price of the nativ...
Bitcoin Falls Below $20,000 After Twitter Row Between Billionaire Crypto Executives Triggers Withdrawals From FTX
Topline The price of bitcoin fell below $20,000 on Monday—dropping alongside other major cryptocurrencies—amid concerns about the financial health of FTX, one of the world’s largest cryptocurrency exc...
Billionaire Changpeng Zhao’s Binance To Offload All Remaining FTT Tokens Of Sam Bankman-Fried’s FTX
Sam Bankman-Fried (left), founder and CEO of FTX, and Changpeng Zhao, cofounder and CEO of Binance. Bloomberg Changpeng Zhao, the billionaire cofounder and CEO of Binance, said on Sunday that his cryp...
Alameda CEO Caroline Ellison says leaked balance sheet misses full story
Alameda Research CEO Caroline Ellison said Sunday that leaked information about the firm’s balance sheet only tells part of the story. On Nov. 2, CoinDesk reported that a leaked balance sh...
Binance CEO says there’s pain and risk in the bear market, but also opportunity: Bloomberg
Binance could spend over $1 billion on investment deals by the end of the year. Despite the market downturn, the exchange could spend a significant amount of cash on investments in the next three mont...
Binance security team has identified two suspects in KyberSwap hack, CZ says
Binance’s CEO Changpeng Zhao (CZ) shared an update on the KyberSwap hack today, revealing that his firm’s security team had identified two suspects. “Binance security team has identi...
Binance Wins Crypto License In Bahrain Amid Middle East Expansion
Binance processed $504 billion worth of spot trades of cryptocurrencies in January alone, according … [+] to data provider CryptoCompare. SOPA Images/LightRocket via Getty Images Binance, which ...