Binance.US Removes Trading Fees for ETH
- Binance’s U.S. arm has expanded its zero-fee program to spot trading for four ETH trading pairs, including ETH/USD, ETH/USDT, ETH/USDC, and ETH/BUSD.
- Auditing firm Mazars has also confirmed that Binance had control over 575,742.42 BTC, making its reserves 101% collateralized.
7 hours ago
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Sam Bankman-Fried Unlikely to Testify Before Congress in December
- The former CEO of FTX was invited by Congresswoman Maxine Waters to participate in a 13 December Congress hearing regarding the collapse of the exchange.
- SBF said he was willing to testify before Congress, but only after he has “finished learning and reviewing what happened”, which will likely be next year.
December 5, 2022, 11:36 AM
Sam Bankman-Fried, former CEO of FTX, speaking at the Binance Blockchain Week, Singapore, 19 January, 2019. Binance
Coinbase Disables iOS Wallet’s NFT Trading Due to Apple’s App Policies
- Coinbase said that Apple had blocked the release of the latest iOS version of its mobile wallet app until NFT trading functionality was disabled.
- The exchange also claimed that Apple wanted all gas fees required to send NFTs to be paid through its In-App Purchase system so that it could collect 30% of the fees.
December 1, 2022, 7:22 PM
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Former FTX CEO SBF Claims He Unknowingly Commingled Funds
- Sam Bankman-Fried held an interview with the New York Times, during which he pushed the narrative that FTX’s collapse was caused by bad risk management and the crypto market crash.
- SBF also claimed the he had “unknowingly commingled funds” between Alameda and customer funds at FTX, which was the result of his poor oversight of the company.
December 1, 2022, 12:54 PM
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Nov 30, 2022
FTX’s LedgerX to Provide $175M for Bankruptcy Proceedings
- LedgerX, one of the few affiliated companies to remain solvent after the collapse of FTX, will provide $175 million towards FTX Group’s bankruptcy proceedings.
- The money will come out of a $250 million fund the company had set aside to get regulatory approval to settle crypto derivatives without intermediaries.
Nov 30, 2022
Binance Enters Japanese Market With SEBC Acquisition
- The acquisition of FSA-regulated Sakura Exchange BitCoin marks Binance’s regulatory-compliant re-entry into the Japanese market.
- The exchange was forced to limit its operations in Japan, and abandon its plans for a regional headquarters, when it received a warning from the FSA in 2018, and once again in 2021.
Nov 28, 2022
Line’s Bitfront Crypto Exchange to Close Down
- Japanese messaging giant Line had decided to close down its crypto exchange business, and focus on its other blockchain and crypto initiatives.
- New signups and credit card payments have already been shut down, additional services will be suspended mid-December, while trading and open orders will be canceled by the end of the month.
Nov 25, 2022
Binance Launches Merkle Tree-Based Proof-of-Reserves System
- Binance’s new proof-of-reserve system shows it has Bitcoin (BTC) balance of 582,485 tokens, while users have a net balance of 575,742 BTC.
- The exchange also plans to involve a third-party auditor to verify its PoR system, as well as implement ZK-SNARKs to improve privacy.
Nov 25, 2022
Binance Launches $1B Industry Recovery Initiative With 7 Contributors
- Binance has officially launched its $1 billion industry recovery fund, and said it is ready to set aside another $1 billion in the near future “if the need arises”.
- Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have all joined the fund with a combined contribution of $50 million.
Nov 24, 2022
Hodlnaut Under Fraud Investigation in Singapore
- The police’s commercial affairs department is investigating Hodlnaut and its directors for possible cheating and fraud.
- Singapore police received numerous reports between August and November this year about false representations relating to the company’s exposure to a “certain digital token”.