Binance Security Report Sheds Light On Crypto Scams

A report released by major crypto exchange Binance illustrates how scams targeting cryptocurrency investors attempt to gain credibility. In the report published on June 30, the exchange explained that its Binance Sentry risk investigation service observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. The frauds do not just concern crypto but also forex, binary options and contracts for difference (CFDs). Binance published the report after a Bitcoin (BTC) scam targeted the residents of Winnipeg, Canada, in late June. Scams are often well-organized, big operations…

Binance Gets the Third Branded Emoji on Twitter as Anniversary Comes Close

Binance and its eponymous cryptocurrency, Binance Coin (BNB), is the third entity to receive a branded emoji hashtag following Bitcoin (BTC) and Crypto.com. This was announced by Binance’s CEO, Changpeng Zhao, who simply tweeted #BNB — showcasing the new emoji. #BNB — CZ Binance 🔶🔶🔶 (@cz_binance) July 1, 2020 The co-founder appears to be visibly excited with the cosmetic change, writing, “I think I could just sit here and randomly retweet people’s #BNB tweets all day long,” though he appears to have retweeted only one of them so far. As…

First Rupiah-Backed Stablecoin Launches on Binance and Tokocrypto

Major cryptocurrency exchange Binance and Indonesian exchange Tokocrypto have listed a rupiah-backed stablecoin, Binance IDR (BIDR). According to an announcement on June 30, Binance and Tokocrypto users can now trade BIDR against Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Tether (USDT) and Ether (ETH). Users will also be able to directly purchase and redeem the stablecoin at a rate of 1 Indonesian rupiah each ($0.000070). A part of Binance’s expansion plans BIDR is pegged to Indonesia’s fiat currency and runs on Binance Chain. Binance CEO Changpeng Zhao claims that…

Binance Completed Its Biggest Upgrade Ever and Says It’s 10x Faster

Binance just completed its largest upgraded on June 28, making the world’s largest crypto exchange faster, announced founder and CEO Changpeng Zhao, or CZ. Anticipating the next bull run  The trading platform has reportedly re-wrote all code and switched the matching engine to a new programming language. It’s said to be the biggest upgrade in two years. It could perform 10 times faster for traders for the next bull run. CZ added that:  “[…] so in theory can handle 100x volume. But when real volumes hit, there will be some…

COMP Token Spikes 25% on Surprise Binance Listing

The price of the Compound Governance Token (COMP) has jumped by one-quarter on news of a surprise listing on leading cryptocurrency exchange Binance. COMP tokens began trading approximately one week ago, quickly making triple-figure gains and attracting millions in trade volume. Binance stated that it did not charge a listing fee for introducing the pairings.   Binance now supports pairings between COMP and Bitcoin (BTC), Tether (USDT), Binance Coin (BNB), and BinanceUSD (BUSD). COMP spikes 25% in five minutes on Poloniex On June 25, Binance announced that it would list pairings…

Activity on Binance Coin’s Network Swells Despite Lackluster Price Action

Binance Coin has been consolidating within a narrow trading range. Its price action has been mostly contained between the $15 support level, and the $18 resistance over the past two months. From a technical perspective, the ongoing stagnation phase forced the Bollinger bands to squeeze BNB’s 1-day chart. Squeezes are indicative of periods of low volatility and are typically succeeded by wild price movements. The longer the squeeze, the higher the probability of a strong breakout. Since this technical index does not provide a clear path for Binance Coin’s direction,…

Binance Adds Profit Maximization Service to Its Mining Pool

Shortly after the launch of its own cryptocurrency mining pool, Binance is adding specialized features to it to help miners make more money. Earlier this month, Binance Pool launched a new feature called “Smart Pool.” It lets miners automatically switch hash rates to mine the most profitable of three supported coins based on the SHA- 256 algorithm — either Bitcoin (BTC), Bitcoin Cash (BCH) or Bitcoin SV (BSV). Lisa He, head of Binance Pool, explained that Smart Pool detects the difficulty in different chains using the same algorithm, and it…

Delta Exchange Launches Options Trading for Binance Coin and Link

Cryptocurrency derivatives trading platform Delta Exchange has today launched options trading for two major altcoins, Binance Coin (BNB) and Chainlink’s LINK. In an announcement on June 19, the exchange indicated it would be following the launch of its options for BNB and LINK with similar contracts for Tezos (XTZ), Atomic Coin (ATOM), XRP and Litecoin (LTC). Delta’s CEO Pankaj Balani told Cointelegraph that BNB and LINK are two of the most active coins on the exchange and that the launch of the new contracts was in response to “a lot…

Binance Joins Indian Internet Association Amid Regulatory Uncertainty

Leading cryptocurrency trading platform Binance has joined the Internet and Mobile Association of India’s (IAMAI) digital asset exchange committee. The association is the top trade body representing digital firms in India and was a key voice petitioning lawmakers about the Reserve Bank India’s (RBI) ban on financial institutions providing banking services to companies operating with crypto. The ban was overturned by the Supreme Court earlier this year. Binance’s membership comes at an opportune time, with India’s Ministry of Finance moving forward with a proposal for a blanket ban on cryptocurrencies…

Binance CEO CZ Explains Why He Disabled Twitter Comments

Known for his social media-involved leadership of crypto exchange giant Binance, CEO Changpeng Zhao, or CZ, said he disabled Twitter comments on his posts to weed out the scammers.  “To better respond and engage,” CZ told Cointelegraph he partially disabled the ability for the public to comment on his tweets. “This is a new feature from Twitter,” CZ said on June 11. “It seems it’s only rolled out to a small percentage of people.” Social media holds crucial in crypto As an industry based primarily on digital technologies, much of the…