Monthly Archives: July 2023

The German Federal Financial Supervisory Authority (BaFin) and Binance’s License Application The German Federal Financial Supervisory Authority, commonly known as BaFin, reportedly raised concerns and advised cryptocurrency exchange Binance to withdraw its licensing application. The concerns were related to Binance’s CEO, Changpeng Zhao, also known as “CZ,” and the company’s internal structure. BaFin’s “Fit and[Read more…]

The United States Securities and Exchange Commission (SEC) and Binance Respond to Eeon’s Lawsuit Intervention The SEC and Binance have recently submitted their responses in regards to the entity known as “Eeon,” which sought to intervene on behalf of customers in the SEC’s case against the cryptocurrency exchange. According to the U.S. District Court for[Read more…]

Introduction Binance has issued a crucial announcement regarding the upcoming wallet maintenance for the BNB Smart Chain (BEP20). The maintenance is scheduled to take place on July 31, 2023, at 07:00 (UTC) and is expected to last approximately half an hour. Continued Trading with No Disruptions Users can continue trading digital assets and currencies on[Read more…]

Introduction Although some consider the second quarter of 2023 a lost quarter, others find that the smart contracts industry remains resilient. Even though the crypto space suffered from lower investments from venture capital firms, developers continue to deploy smart contracts, signaling a growing demand for blockchain-based solutions. Verified Smart Contracts Surge In its Q2 report[Read more…]

BNB Chain’s Financial Struggles in Q2 BNB Chain, the native blockchain of the Binance [BNB] ecosystem, encountered some financial anguish during the second quarter of the year. According to the latest insight by Messari, BNB Chain’s total revenue decreased by 6.1% on a Quarter-on-Quarter (QoQ) basis. Fees and SEC Impact on Revenue According to the[Read more…]

BNB Chain’s New Update for Greenfield BNB Chain recently announced a new update for Greenfield, which holds the potential to positively impact the blockchain’s fundamental metrics. Over the past 30 days, BNB Chain [BNB] has experienced a decline in its key fundamentals. However, the latest updates released last week concerning BNB Greenfield offer hope for[Read more…]

Leading Crypto Exchange Binance Aims to Dismiss CFTC Lawsuit On July 24, Binance, one of the top crypto exchanges known for BNB, announced its intention to seek dismissal of the U.S. Commodity Futures Trading Commission’s (CFTC) lawsuit against the platform. The exchange filed its request with the Illinois District Court. Two Separate Motions for Dismissal[Read more…]

The Buzz Around Decentralization in the Crypto Market The buzzword thrown very frequently around in the ever-expanding world of cryptos and blockchains is “decentralization”. The idea is that no single entity gets to wield a disproportionate share in day-to-day operations, but rather scattered across several players with equal influence. Centralization of the Crypto Spot Trading[Read more…]

Crypto Exchange Binance and CZ Request Dismissal of CFTC Lawsuit Crypto exchange Binance and its CEO Changpeng “CZ” Zhao requested the dismissal of a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC). In a July 27 court filing, attorneys for Binance and CZ accused the CFTC of exceeding its regulatory authority and[Read more…]

Binance Withdraws Cryptocurrency License Application in Germany Binance has withdrawn its cryptocurrency custody license application in Germany. The exchange confirmed its withdrawal to Cointelegraph on July 26, nearly a month after reports of rejections from The German Federal Financial Supervisory Authority (BaFin). On June 29, BaFin reportedly rejected the crypto exchange’s custody license. However, at[Read more…]