Binance CEO Richard Teng has revealed the strategy the exchange will follow to regain its growth trajectory. Teng stated that the real objective is to attract outsiders to crypto, downplaying the recent decline of Binance in the exchange market. Binance Reveals ‘Compliance First’ Strategy to Recover Market Share Binance, the largest cryptocurrency exchange in the…
October 10, 2024 at 04:55 AM GST updated: October 10, 2024 at 03:26 AM 2 mins read News Binance CEO Richard Teng denies misuse of Launchpool funds and asserts the company’s dedication to fairness and user protection. Last year, Binance prevented $2.4B in fraudulent transactions, demonstrating its commitment to combating global crypto scams. Binance aids…
Binance, the world’s largest cryptocurrency exchange by trading volume, has lost considerable market share recently. CCData estimates that Binance’s trading volume in the $2 trillion digital asset market declined to 36.6% in September. This is the lowest the exchange has traded in the last four years, dropping from 42.7% at the beginning of 2023. The…
Crypto exchange Tokocrypto, a part of Binance Group, has achieved a major milestone by securing the Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), allowing it to operate as a licensed crypto asset trader. This move highlights Tokocrypto’s commitment to regulatory compliance and strengthens its position in Indonesia’s growing…
Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct…
September 6, 2024 at 11:40 AM GST updated: September 6, 2024 at 01:50 PM 2 mins read News Binance founder Changpeng Zhao is permanently banned from managing the company but retains influence as the majority shareholder. Zhao holds 90% of Binance shares, granting him voting rights on key decisions despite being banned from day-to-day operations….
Richard Teng has publicly condemned the Nigerian government over what he describes as the “inhumane treatment” of Tigran Gambaryan, the company’s Head of Crime Compliance, who has been detained in the West African country for the past six months. Teng’s statement comes in response to a recently surfaced video that shows Gambaryan in visible distress…
Richard Teng has dismissed allegations made by Ray Youssef, founder of the peer-to-peer Bitcoin (BTC) trading platform NoOnes, that the crypto exchange froze Palestinian assets on the exchange at the request of Israeli authorities. The controversy started following Youssef’s August 26 message on X, where he accused Binance of complying with directives to freeze accounts…
The CEO of Binance has responded to allegations that the cryptocurrency exchange seized all funds from Palestinians at the request of the Israeli Defense Forces. Ray Youssef, CEO of Noones, criticized Binance, accusing it of yielding to external pressures and engaging in discriminatory practices. He called for a boycott of Binance and supported platforms that…
Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard…