Binance Futures Hosts Trading Competition With Prize Pool Worth $1M

Cryptocurrency exchange Binance announced on March 25 that it will be hosting a trading tournament where participants could compete in teams and win a prize pool of up to $1 million in BNB tokens. According to the announcement, the tournament will take place between April 10 and April 25, and will take place in two ways: daily ROI and overall USDT team profit tournaments. Binance explains that all teams that trade in perpetual contracts on Binance Futures during the competition period will be ranked based on the total USDT profit of the…

Binance to Launch Crypto Exchange Supporting KRW-Backed Stablecoin

Crypto exchange Binance is preparing to enter the Korean market for the first time. According to a company blog post on March 31, the Malta-based exchange will soon open Binance KR for trading. The crypto-to-crypto exchange is so named for South Korean traders.  Binance KR will be launched on Binance Cloud and offer the “market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.” The exchange will also support Binance KRW (BKRW), a stablecoin backed by the South Korean Won (KRW). Users…

Binance Academy Launches Blockchain Accelerator in China

Binance Academy, the educational arm of leading crypto exchange Binance, announced the establishment of a blockchain research institute in Shanghai on March 30. The Lingang Blockchain Technology and Industry Research Institute is intended to operate as a think-tank and talent hub for distributed ledger technology (DLT) innovation in China. Binance to integrate blockchain with other innovative technologies To accelerate the application of DLT in China, Binance’s blockchain institute plans to integrate blockchain with other emerging technologies with an established foothold in the country — including artificial intelligence, big data, and…

Exchange Coins Poised to Surge: Binance Coin, UNUS SED LEO, OKB

Like most cryptocurrencies, the top crypto exchange tokens—Binance Coin, UNUS SED LEO, and OKB—also suffered from the sell-off seen across the global financial markets. However, the bullish momentum behind these altcoins seems ready to resume. Binance Coin Prepares for High Volatility Over the last two weeks, Binance Coin has been contained within a parallel channel. Each time BNB rises to the top of the channel, it drops down to hit the bottom of the channel, and from this point, it bounces back again. These are the primary characteristics of a…

Binance Removes FTX Tokens Citing Confusion

Major crypto exchange, Binance, has decided to remove leveraged FTX tokens from its exchange, explaining that customers don’t understand the product. “Due to lack of understanding of how leveraged tokens work by many of our users, Binance has decided to delist all existing FTX leveraged tokens and corresponding trading pairs,” the exchange announced on March 28.  Binance will shut off deposits and withdrawals for the assets on March 31 at 8 a.m. UTC, with a stoppage in trading at 10 a.m. on the same day.   Binance only recently listed the…

Binance Delists Leveraged Tokens, Cites User Confusion

Crypto exchange Binance has announced that they will be delisting FTX Exchange’s leveraged tokens. The announcement said that the exchange would delist the tokens due to users’ “lack of understanding of how leveraged tokens work.” Binance Delists FTX Exchange Product Binance announced that they would no longer platform FTX Exchange’s leveraged tokens. Users have until Mar. 31 to move funds off of Binance.  For tokens that are not moved before this time, Binance reported that it would credit users’ accounts “with the equivalent value held in each leveraged token at the time of delisting in…

Binance Coin Engagement Skyrockets as Exchange Introduces New Product

Binance Coin community engagement metrics are going through the roof after the world’s largest exchange by trading volume announced the introduction of a new product leaving investors wondering whether BNB’s price will follow. Binance Coin’s Social Engagement Explodes In a recent blog post, Binance revealed the launch of Binance Card. The new payment card works like a traditional debit card allowing users to pay for goods and services using their BTC and BNB. Since it is issued by Visa, it provides access to more than 46 million merchants offline and…

Binance Academy Establishes Physical Presence in Shanghai

Binance Academy has entered into an agreement with Shanghai’s local government to set up an office in the country. The initiative will reportedly be devoted to research blockchain technology in accordance with an Oct. 24 statement from Xi Jinping promoting its use. As announced on March 27 by local news outlet TheBlockBeats and Binance’s CEO Changpeng Zhao, Binance Academy will establish the Lingang Blockchain Technology and Industry Research Institute in Shanghai’s Lingang special economic zone. The initiative is the result of cooperation with local organizations in the Lingang area, and…

Singapore Grants Crypto License Exemptions to Ripple, Coinbase and Binance

While Singapore recently adopted specific cryptocurrency legislation — the Payment Services Act (PSA) — in January 2020, it turns out that some crypto firms like Ripple, Coinbase and Binance have been exempt from the law since the beginning of the year. The Monetary Authority of Singapore (MAS), the country’s central bank and major financial regulatory authority, exempted a number of major payment services from holding a financial license under the PSA. According to a statement released on March 24, the listed companies are allowed to continue to provide specific payment…

Binance Releases Its Own Debit Card, Initial Testing Will Be in Malaysia

Binance enters the crypto debit card sector with news of an official Binance Card on March 26. Issued by Visa, the card will initially be available in South East Asia, though other regions will be unlocked soon, the company states. Like most other crypto cards, the Binance Card allows its users to spend their cryptocurrencies by converting them into fiat and piggy-backing off established debit card networks. A fairly unique aspect of the Binance Card is that its internal balance will be in cryptocurrencies, initially Binance Coin (BNB) and Bitcoin…