Binance’s CZ Says Crypto Price Fluctuations Normal as Industry Is Still Growing

Changpeng Zhao, the CEO of the popular crypto exchange Binance, has said it might take Bitcoin some months to a couple of years to get back to the all-time-highs previously reached by the coin. ChangPeng told Guardian ePaper, a UK-based news outlet, that he believes if investors in 2018 were told that Bitcoin would be $20k in 2022, they would have been very happy. However, he admitted that the current $20k price of Bitcoin is low considering its previous highs. CZ said, “I think given this price drop from the all-time…

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Binance’s CZ says he is ‘skeptical’ about the Terra relaunch

Binance CEO Changpeng Zhao, also known as CZ, expressed skepticism around the revival plan for the Terra ecosystem and the launch of the new LUNA token. “I try not to predict what the community will do. […] Many are skeptical. I’m one of those guys,” said CZ in an exclusive interview with Cointelegraph. Following the collapse of TerraUSD (USD), the Terra ecosystem’s stablecoin, CZ criticized its team for not handling the crisis properly and pointed at the project’s flaws that led to the crash. Still, Binance is now actively participating…

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France’s financial authority approves Binance’s registration as digital asset service provider

The Autorité des Marchés Financiers (AMF), France’s authority responsible for regulating the financial market, has granted Binance’s registration to provide crypto-related services in the country. In a Wednesday update, the AMF included Binance France SAS in its list of registered digital asset service providers in France. The registration was a step toward allowing the crypto exchange to provide crypto-related services in France including custodying assets, exchanging digital assets for other tokens or legal tender, and operating a digital asset platform. According to the AMF, registration requires checks to ensure “good…

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Binance’s NFT head adopted this implementation model during the platform’s creation

Attending and reporting from the two-day Paris Blockchain Week Summit (PBWS), Cointelegraph’s managing editor, Alex Cohen sat down with Helen Hai, head of Binance’s NFT platform for a candid discussion on the early inspirations for their NFT platform, as well as her vision for regulatory communication, among other topics. Citing the methods in which the Asian economy capitalized on the growth potential within the second industrial revolution by driving job creation for the lower and middle classes, Hai stated that the internet era — typically referenced as Web2 — was…

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Binance’s Paysafe deal worries UK financial watchdog

The Financial Conduct Authority (FCA), the top financial authority in the United Kingdom, has raised concerns over Binance’s recent partnership with Paysafe, a retail payment processor. The U.K. financial watchdog said the latest partnership of Binance gives it access to the extensive retail payments network via Faster Payment Services, a critical service that was discontinued for the crypto exchange citing regulatory concerns. The FCA ordered Binance to halt all its services in June. Prominent banks such as Barclays have withdrawn their support to the exchange, resulting in the suspension of banking services.…

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Ripple granted access to Binance’s records in SEC securities case

The ongoing case between fintech firm Ripple and the U.S. Securities and Exchange Commission (SEC) took another turn this week when the company was granted access to Binance’s documents. U.S. Magistrate Judge Sarah Netburn granted Ripple CEO Brad Garlinghouse’s motion to “Obtain international discovery” of Binance records. According to the docket, the approval was made on August 3 while a duplicate request was denied: “ORDER granting 274 Letter Motion for Discovery. The Court will communicate with counsel to arrange delivery of the letters.” As part of the case against Ripple…

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Binance’s brief pause of Ethereum withdrawals leaves community perplexed

Binance had a hiccup with its withdrawals for Ether (ETH) and all ERC-20 assets on Friday, with users being unable to access any of their Ethereum-based assets for about one hour. The pause came abruptly, as the exchange’s Twitter account notified users that Binance had “temporarily suspended withdrawals of ETH and Ethereum-based tokens in order to address a congestion issue.” Binance reassured that “funds are SAFU,” but did not provide any further details. About one hour later, withdrawals were apparently restored but the exchange did not attempt to explain what prompted them…

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Binance’s DeFi index crashes 60% as Bitcoin overshadows altcoins

Bitcoin (BTC) resurgence is continuing to sap capital from the altcoin markets as other cryptocurrencies are struggling to catch up to BTC. DeFi struggles as Bitcoin shines The DeFi Composite Index, first launched by Binance Futures in late August, is seeing its second month of strain, trading down from its all-time highs of close to $1,200 to under $400, a decline of roughly 60%. In fact, most DeFi tokens have erased 70% to 90% of their gains since early September, as Binance’s Nov. 5 report notes. In early October, Cointelegraph…

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Analysts Flip Bullish as Binance’s Bitcoin Funding Rate Turns Negative

Bitcoin has undergone a strong drop since the highs seen yesterday. The price of the leading cryptocurrency fell from its highs of $13,850 to lows around $12,900. This drop was seemingly a result of the drop in the U.S. stock market. The Dow Jones and the S&P 500 have dropped the largest they have in months, plunging 3% lower amid some uncertainty about fiscal stimulus and the upcoming election. Bitcoin’s price action has scared some investors, so much so that futures markets have begun to show short positioning. This may…

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Binance’s CZ says Buterin ‘proved me wrong’ and DeFi full of bubbles

Decentralized finance is in full swing, and one of its biggest supporters appears to be the exchange Binance. The platform’s United States branch recently joined the Chicago DeFi Alliance, with the aim to further develop the U.S. DeFi industry. Additionally, Binance’s support for new DeFi projects continues to grow. Most recently, the exchange has demonstrated close ties with BurgerSwap, a new decentralized exchange that aims to improve upon Uniswap.  While it’s clear that Binance has taken a tremendous amount of interest in DeFi, it’s notable to point out that Binance’s…

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