Binance Smart Chain’s TurtleDex rugpulls shortly after launch

Turns out a turtle’s arms are plenty long enough to pull a rug.  Yesterday, March 19 Binance Smart Chain (BSC) file storage project TurtleDex performed a “rugpull” exit scam — a colloquial term for when a project’s developers drain the liquidity or stored funds invested by the protocol. Coming off a March 15 presale round that raised 9000 BNB tokens worth nearly $2.5 million, the team drained those funds from trading pools on BSC-native decentralized exchanges Pancake Swap and Ape Swap, converted the liquidity to ETH, and sent the funds…

Brave and BAT Join Forces With Binance Smart Chain

Key Takeaways Brave’s BAT token, native to Ethereum, is now available on Binance Smart Chain as a wrapped token. This will allow users to spend the BAT token in Binance Smart Chain’s DeFi apps such as Pancake Swap. Though Brave’s wallet already supports both ETH and BSC, more thorough support will arrive later this year. Share this article Brave’s Basic Attention Token (BAT) is now part of the Binance Smart Chain (BSC) ecosystem, according to a blog post from Brave. BAT on Binance Smart Chain According to Brave, BAT is…

Binance Smart Chain Aggregator OpeanOcean Announces Airdrop

Key Takeaways Users must have interacted with the protocol anytime between launch and March 8th. The token OOE will be used for governance but also gas fees/slippage subsidy. For those who missed it, a liquidity mining program will start after the airdrop. Share this article OpenOcean has announced they would distribute 1% of their total supply to early users of the protocol, amounting to 10 million OOE tokens. OpenOcean Airdrop Announced  OpenOcean aggregates trading pairs across both centralized and decentralized exchanges. While users can utilize the exchange on the Ethereum…

Ankr gains 137% after becoming the top validator on Binance Smart Chain

It’s hard to argue that the crypto market is not in a bull market right now, but this run does show different characteristics and catalysts than the 2017 bull market.  In 2017, investors were hyped by the allure of high returns from initial coin offerings (ICO) that promised much but delivered very little in the form of an actually working ‘product.’ Fast forward to 2020, and the current altcoin season has been primarily focused on lending, liquidity, and yield farming. Growing interest in Decentralized Finance (DeFi) was triggered by the…

CZ responds to reports of Binance investigation: story has no “teeth”

Shortly after a Bloomberg report on Friday that cryptocurrency exchange Binance was under investigation for permitting US residents to place unlawful trades, Binance founder and CEO Changpeng Zhao (better known as CZ) dismissed the reports during a live AMA on Clubhouse, saying that the report had “no teeth.”  “This is a topic that just came up, literally like a few minutes ago or a hour ago,” said CZ. “So number one, the news article said there was no, I don’t have it in front of me, there was no “misconduct,”…

Binance reportedly under CFTC investigation over US-based trading activity

Binance, the world’s largest cryptocurrency exchange by trade volume, is reportedly under investigation by the United States Commodity Futures Trading Commission regarding possible trades made by U.S.-based customers. Binance Holdings Ltd is being investigated by the watchdog concerning possible derivatives trades made by American customers, Bloomberg reported on Friday, after being tipped off by an anonymous source. The exchange has not yet been accused of any wrongdoing, however, regulators are now reportedly seeking to determine whether cryptocurrency derivatives were bought and sold by U.S citizens on the Binance platform. A Binance spokesperson…

CFTC Examines Whether Binance Illegally Brokered Trades for US Users

Key Takeaways The CFTC has not formally accused Binance of illegally brokering trades for U.S. residents. Social media content indicates that U.S. residents can indeed use Binance through VPNs, but it is unclear if Binance is accountable for this. Binance was accused last year of evading U.S. regulations, and Coinbase has implied that the exchange has lax compliance. Share this article The Commodity Futures Trading Commission (CFTC) in the U.S. is investigating Binance to determine whether the exchange illegally facilitated trading for U.S. residents. Binance Under Investigation Binance isn’t registered…

Binance crypto exchange launches payments app in alpha

Binance has released its payments app, Binance Pay, in public alpha. The app is a contactless peer-to-peer cryptocurrency payment feature that lets users send and receive payments in cryptos like Bitcoin (BTC). Binance initially rolled out Binance Pay in a soft launch in February 202 for P2P payments, enabling 250,000 users to interact with the product. Today, Binance Pay is launching in alpha with new features like merchant-based transactions and is available to all users. A spokesperson for Binance told Cointelegraph that the new service is not limited to certain…

Binance Coin (BNB) Regains Strength, Bulls Aim Fresh Break above $300

Binance coin price started a fresh rally above the $250 resistance against the USDT. BNB is gaining momentum and it is likely to clear the $300 barrier in the near term. Binance coin price started a fresh rally above the $250 and $260 resistance levels against the USDT. The price is now trading well above $260 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $245 on the 4-hours chart of the BNB/USDT pair (data source from Binance). The pair is…

Binance Smart Chain DeFi Project Hacked for $31 Million

Key Takeaways A yield farming project on BSC has been hacked for $31 million. The website, twitter account, and telegram channel are all down, suggesting a rug pull by creators. The hackers are using DeFi avenues to move the stolen tokens. The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article Vault 1 of the DeFi application Meerkat finance, a clone of  Yearn Finance on Binance Smart Chain, was drained for $31 million this morning.  Meerkat Finance Hackers Tinker With Smart Contract  The…