Binance
Binance fires back at WazirX over control claims
Published
2 months agoon
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adminBinance has denied responsibility for the WazirX cyber-attack, stating it never controlled the platform or the compromised wallet.
Cryptocurrency exchange Binance publicly refuted claims of responsibility for a recent cyber-attack on the Indian crypto exchange WazirX, emphasizing that it never controlled the platform. Binance also criticized WazirX co-founder Nischal Shetty for misleading statements.
In a Sept. 17 blog post, Binance denied claims that it had acquired or controlled WazirX, asserting that it never “owned, controlled, or operated WazirX at any time, including before, during, or after the July 2024 attack.” Binance criticized Shetty for misleading statements attempting to shift blame for the attack, which targeted a wallet managed by WazirX and the third-party custodian Liminal.
“[…] [Nischal Shetty] is trying to deflect the blame and claim that Binance may somehow be responsible for the losses suffered by WazirX users and creditors as a result of the cyber-attack. This is false, and any suggestion of the sort is outrageously misleading.”
Binance
Binance distances from WazirX’s downfall
While Binance had previously provided tech solutions to WazirX, it rejected any responsibility for the attack’s aftermath. Binance pointed out that once WazirX’s funds were removed from its platform due to a failed acquisition deal, the selection of Liminal as a custody provider was made independently by Shetty and Zettai, without Binance being consulted or informed.
WazirX incurred a $235 million loss from the July 18 cyber-attack, which severely impacted the exchange and led it to seek a Scheme of Arrangement in Singapore, a restructuring process under local insolvency laws. An independent audit by Grant Thornton later found no evidence implicating Liminal Custody’s infrastructure in the multi-million dollar hack.
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Binance
Binance bets on Thailand as region signals supportive crypto approach
Published
2 days agoon
November 5, 2024By
adminBinance is prioritizing Thailand as a key market in its mission to reach one billion users, with crypto-friendly regulations seen as a driving factor.
Cryptocurrency exchange Binance is betting big on Thailand as it aims to bring crypto mainstream worldwide, spotlighting the country’s regulatory openness, The Bangkok Post reports, citing Binance chief marketing officer Rachel Conlan.
Per Conlan, Thailand ranks among Binance’s top 20 markets worldwide, with local crypto penetration estimated at 12%, double the global average of 6%. She also praised Thailand for taking a “pioneering approach to crypto” and working to establish regulations and a framework “in the right way.”
“I think that is what ultimately is going to help this industry thrive and drive forward.”
Rachel Conlan
Binance, which gained 60 million users in the past six months, attributes its growth to increased institutional adoption and positive developments like ETF approvals, Conlan said, noting the exchange sees a 20% global adoption rate as mainstream, a milestone it aims to reach within three years. Binance currently claims 240 million users globally.
The crypto exchange is doubling down on Thailand as the country itself appears to be betting on crypto as well. Recently, Siam Commercial Bank launched Thailand’s first stablecoin-powered cross-border payment system to facilitate faster, more efficient international transactions.
In August, Thai financial regulators also launched a Digital Asset Regulatory Sandbox to encourage crypto adoption in the country. The initiative, backed by a public hearing in May, allowed participants to test crypto services under flexible regulations to help develop Thailand’s digital asset market.
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PONKE Price Skyrockets 19% On Binance Support, What’s Next?
Published
3 days agoon
November 4, 2024By
adminThe Solana meme coin Ponke (PONKE) saw its price soar by 19% following Binance’s announcement of a USDⓈ-Margined PONKEUSDT Perpetual Contract. Set to launch on November 4, 2024, this contract offers users up to 75x leverage, signaling increased opportunities for traders and heightened optimism among PONKE supporters.
PONKE Price Rockets Amid Major Binance Support
According to Binance’s official announcement, the PONKEUSDT perpetual contract will go live on November 4 at 12:30 UTC, providing traders with 75x leverage and 24/7 trading. Key features include a tick size of 0.00001 and a capped funding rate of ±2.00%, with funding fees settled every four hours. Binance’s Multi-Assets Mode further allows users to utilize BTC as collateral, offering flexibility in margin trading. However, the exchange may adjust contract specifications, such as funding fees, leverage, and tick size, based on evolving market conditions, ensuring the asset aligns with market risk levels.
#Binance Futures will launch the USDⓈ-Margined $PONKE Perpetual Contract at
🗓️ Nov 4 2024, 12:30 (UTC)
Read more ➡️ https://t.co/kqrmZqnEp6 pic.twitter.com/LQPUlMOBOR
— Binance Futures (@BinanceFutures) November 4, 2024
PONKE, built on Solana, benefits from the blockchain’s high-speed and low-cost transactions, catering to online traders and gaming enthusiasts. The coin’s community-driven design, distinct tokenomics, and accessibility through major exchanges contribute to its market appeal. Its #ponkyarmy community is particularly active, with governance roles and a dedicated social media presence that drive further engagement and growth.
Will The Rally Sustain?
Following the Binance listing news, PONKE’s price surged by 19%, currently trading at $0.49, with a 24-hour low of $0.43 and a high of $0.56. Its trading volume climbed to $77 million in the last 24 hours, indicating heightened interest. PONKE, with a market cap of $274 million, continues to capture the attention of meme coin enthusiasts. Besides, recent Coinglass data also highlights increased open interest for PONKE, signaling optimism for further gains.
Launched in late 2023 with a total supply of 555 million tokens, PONKE has already achieved an all-time high of $0.70 four months ago. Its deflationary burn mechanism and community-driven features have positioned PONKE uniquely within the Solana ecosystem, drawing both meme coin fans and investors seeking growth in Solana-based assets.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Binance
Joe Biden Thanks Nigerian President for Releasing Binance Executive Tigran Gambaryan From Prison
Published
1 week agoon
October 31, 2024By
adminUS President Joe Biden has expressed his appreciation to Nigerian President Bola Tinubu for securing the release of Binance’s compliance officer Tigran Gambaryan from prison.
Gambaryan, a former agent of the US Internal Revenue Service (IRS), was visiting Nigeria to address regulatory concerns about Binance when local authorities arrested and jailed him on charges of money laundering and operating an unlicensed financial institution.
Amid reports of Gambaryan’s deteriorating health and the Nigerian government’s refusal to give him adequate medical treatment, 18 US state attorneys general wrote a joint letter telling Biden that Nigeria’s blatant misuse of power should be met with the full weight of the US government’s influence given the financial and political support that America extends to the West African nation’s current regime.
Last week, Judge Emeka Nwite ordered that Gambaryan be released from Kuje prison where the executive was incarcerated following his arraignment in April.
R.U. Adaba, a lawyer who represents the prosecuting agency, said that Nigeria is dropping the charges due to diplomatic interventions and in consideration of the extent of Gambaryan’s involvement as an employee of Binance.
The White House says that during a recent call, Biden thanked Tinubu for the development in Gambaryan’s case.
“President Biden offered his condolences on the recent flooding that has impacted northeastern Nigeria and underscored his appreciation for President Tinubu’s leadership in securing the release on humanitarian grounds of American citizen and former U.S. law enforcement official Tigran Gambaryan last week.”
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