Binance Launches Ethereum 2.0 Staking Rewards Today

Binance users will participate in ETH 2.0 block creation, staking funds to help validate transactions on the new network, and receive rewards in return. The ETH 2.0 update will take years to implement fully, and major exchanges offering staking services are important in its adoption. Under ETH 2.0, the Ethereum network will use Proof of Stake (PoS) to secure the network and validate transactions. ETH 2.0 staking requires 32 ETH to generate income, but Binance Staking will allow users to stake smaller amounts and earn funds by staking on-chain. ETH…

Following Binance Uganda closure, Binance P2P makes strong inroads in Africa

Following the announcement of a disappointing closure of a Ugandan subsidiary in October, Binance — the world’s largest cryptocurrency exchange — released a blog post yesterday indicating that another initiative, Binance P2P, is making strong inroads across the world’s second-most populous continent.  Titled “P2P Merchants: Facilitating Freedom of Money in Africa,” the post highlighted the peer-to-peer trading program’s growth in the region throughout the year — most notably stating that Binance P2P has processed a total of $280 million equivalent local African currencies since March, when the program introduced coverage…

IDEX to Launch New Tokens Ahead of Polkadot, Binance Chain Integration

Decentralized cryptocurrency exchange (DEX) IDEX has announced a new multi-chain solution to expand its infrastructure to other blockchains. IDEX originally built infrastructure around Ethereum. The exchange has now decided to adopt other emerging networks, including Polkadot and Binance Smart Chain (BSC). “In the past year we’ve seen several new smart contract platforms emerge, each with a unique set of capabilities and assets. As these platforms grow, we’ll see increased demand for trading these assets and a need for non-custodial trading solutions that support these networks,” said the DEX’s co-founder and…

Binance trading volume tops all-time high with $37B in a day

With Bitcoin within $1,000 of its all-time high price of $19,891 set in December 2017, trading on major crypto exchange Binance is also hitting new heights with more than $37 billion in volume in the last 24 hours. According to data from CoinMarketCap, the daily trading volume of Binance has now hit $37,291,444,117 which is up 40.5% in the last 24 hours. Last week, the analytics site reported $25 billion in trading volume for Binance. In addition, Bitcoin (BTC) futures open interest on Binance hit an all-time high of $1.17…

Binance Controls the Only Major Pool Rejecting Bitcoin’s Taproot Update

Key Takeaways Taproot is a major update that will allow Bitcoin users to send smart contracts disguised as transactions. Most major mining pools have accepted the update, with hashrate support now at 56%. With or without Binance support, the update looks set to activate in the first half of 2021. Share this article Bitcoin’s Taproot update looks set for activation, with over 56% of the hashrate now showing support. Taproot will upgrade Bitcoin’s smart contract capabilities, allowing users to send smart contracts disguised as regular transactions on the network. Bitcoin…

Binance hires Trump lawyer who helped put Gawker Media out of business

In a lawsuit filed today in the U.S. District Court of New Jersey, Binance alleged that an article published by Forbes was defamatory and caused “millions of dollars” in damages. While there are already questions forming around the merits of the lawsuit, one thing is no longer in doubt: Binance is getting serious. Binance has retained the services of Charles Harder, the attorney best known for representing Hulk Hogan (Terry Gene Bollea) in a suit against Gawker Media. He procured an award of $115 million in compensatory damages and a…

Binance Sues Forbes and Two Journalists Citing “Millions of Dollars” in Damages

Key Takeaways Binance has filed a suit in the state of New Jersey against Forbes, Michael del Castillo, and Jason Brett. Forbes alleged that Binance had hatched an “elaborate scheme” to evade Bitcoin regulators in the U.S. Binance cites Forbes’ allegations that it sought to “undermine the ability of anti-money laundering” enforcement in the lawsuit. Share this article On Oct. 19, Forbes published an article accusing Binance of establishing a legal entity to “surreptitiously profit from crypto investors in the United States.” The article claimed that Binance had “funneled” money…

Binance files US lawsuit against Forbes and two cryptocurrency journalists

Binance has filed a lawsuit in the state of New Jersey against Forbes Media and two of its journalists, Michael del Castillo and Jason Brett, alleging that an article published under the title Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators was defamatory. Binance is demanding both compensatory and punitive damages. The article, which appeared on the Forbes website on Oct 29 2020, reported that the ‘Tai Chi’ document contained details of a scheme designed to “intentionally deceive regulators” in the United States. According to Forbes,…

DeFi is here to stay despite signs of a bubble, says Binance CEO

Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance, said that decentralized finance is here to stay despite many DeFi projects showing signs of being in a bubble. In a Nov. 17 interview with Russia’s news agency RBC, Zhao argued that “a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely.” Zhao went on to say that the DeFi industry has…