Cryptocurrency exchange Binance has announced it completed the first burn of Terra Classic tokens’ trading fees in response to a community proposal from September. In an Oct. 3 update, Binance CEO Changpeng Zhao said the exchange had burned roughly $1.8 million worth of Terra Classic (LUNC) — formerly Terra (LUNA) — trading fees for LUNC/BUSD and LUNC/USDT spot and margin trading pairs. According to Binance, the burn included the equivalent of 1,863,213.47 Tether (USDT) — roughly 5.5 million LUNC. First LUNC burn, $1.8 million ish. https://t.co/b86RlCYqe3 — CZ Binance (@cz_binance) October 3, 2022 The exchange’s original announcement from Sept. 26 …

Tennis legend Maria Sharapova appeared at the Binance Blockchain Week Paris 2022 to share her interest in nonfungible tokens (NFTs). During an exclusive interview with Cointelegraph, Sharapova mentioned that “she is exposing herself to this new world of crypto and Web3,” noting that the sector will help her better engage with her fans. Sharapova was also one of the strategic investors behind MoonPay’s Series A financing round, yet she mentioned that she aims to bridge her personal experiences to the digital world moving forward. Cointelegraph: What are you doing here today at Binance Blockchain Week Paris? Maria Sharapova: I’m crypto …

Global cryptocurrency exchange Binance has registered with New Zealand's Ministry of Business, Innovation and Employment and opened local offices in the country. In a Sept. 29 tweet, Binance said it was registered as a financial service provider in New Zealand, allowing residents access to services including spot trading, nonfungible tokens, and staking. The move to the crypto-friendly Pacific nation followed regulators in Dubai, Abu Dhabi, Kazakhstan, Italy giving the green light for Binance to open an offshoot. “New Zealand is an exciting market with a strong history of fintech innovation,” said Binance CEO Changpeng Zhao. New Zealand! We are kiwis. …

Australian blockchain academics and educators have called for more robust Web3 education in schools, preparing students for a world that will be dominated by blockchain technology. Huxley Peckham, head trainer for Blockchain Academy International told Cointelegraph that there are “very few qualified people in the blockchain industry, but there is big demand for qualified people,” noting that worldwide, there are at least 60 different industries using blockchain tech. Both Peckman, and Blockchain Academy International founder Tim Bowman said it was time to rapidly expand blockchain education in schools in order to prepare for a shift in the world economy. Peckham …

Bitcoin (BTC) crossed under $20,000 after the Sep. 27 Wall Street open as United States equities inched higher. U.S. dollar has room to run — trader Data from Cointelegraph Markets Pro and TradingView confirmed the $20,000 mark barely remaining as tentative support on the day. BTC/USD had managed local highs of $20,344 on Bitstamp overnight, while retracing U.S. dollar strength gave modest relief to risk assets across the board. The S&P 500 and Nasdaq Composite Index had been up 0.4% and 0.65%, respectively after two hours’ trading, but subsequently reversed. At the same time, the U.S. dollar index (DXY) was …

The market capitalization of USD Coin (USDC), a stablecoin issued by U.S.-based payment tech firm Circle, has dropped below $50 billion for the first time since January 2022. On the weekly chart, USDC's market cap, which reflects the number of U.S. dollar-backed tokens in circulation, fell to $49.39 billion on Sep. 26, down almost 12% from its record high of $55.88 billion, established merely three months ago. In contrast, the market cap of Tether (USDT), which risked losing its top stablecoin position to USDC in May, crossed above $68 billion on Sep. 26, albeit still down 17.4% from its record …

To support the Terra community’s efforts to revive the Terra LUNA Classic (LUNC) token, crypto exchange Binance announced an off-chain burning mechanism last week. However, after receiving mixed reactions from community members, the exchange revised its burning approach. On Sept. 23, Binance CEO Changpeng Zhao wrote that the exchange will create an optional 1.2% tax when trading LUNC. Zhao added that they will roll out the 1.2% tax for all LUNC trading if traders who opt-in to pay the tax reach 50% of the total LUNC trading volume on the exchange, leaving the decision to users. However, days after the …

As the crypto community grows, issues within the crypto community become more complex. Regulatory, political and social issues often get in the way of crypto adoption, slowing the advancements within the space. In response to these issues, crypto exchange Binance formed a task force called the Global Advisory Board (GAB). The board consists of individuals expected to tackle any issues that may arise as the exchange continues its initiatives to advance crypto, blockchain and Web3 adoption. The group will be led by a former United States Senator, Max Baucus. Members include various figures like Ibukun Awosika, HyungRin Bang, Bruno Bezard, …

Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become one of the most popular blockchains, sitting in the top 10 blockchains by total value locked (TVL) with $1.3 billion in TVL. Fantom’s high-throughput blockchain is an open-source smart contract platform. It is scalable and EVM-compatible, meaning you can deploy and run your Ethereum decentralized applications …

Cryptocurrency adoption continues growing in the Kingdom of Bahrain, with local companies enabling payments in crypto like Bitcoin (BTC). EazyPay, an online payment platform regulated by the Central Bank of Bahrain (CBB), has partnered with Binance Pay to enable crypto payments in the country, EazyPay CEO and founder Nayef Tawfiq Al Alawi announced on Wednesday. The newly launched crypto payment option will be available in more than 5,000 point-of-sale (POS) terminals and online payment gateway across Bahrain, the CEO said. Major local merchants and firms, including Lulu Hypermarket, Sharaf DG, Al Zain Jewelry and Jasmi’s, will be able to accept …

Sam-Bankman Fried’s crypto exchange FTX is reportedly engaged in talks with investors to raise $1 billion in new funding, as it looks to utilize extra capital for financial acquisitions during the bear market. According to a Sept. 21 report from CNBC which cites sources close to the matter, the talks are still ongoing and the details could still be subject to change. If found to be true, the funding amount would keep the FTX’s current valuation of roughly $32 billion intact. The potential $1 billion funding round would add to the $400 million FTX raised in January, and could signal …

Crypto exchange Binance received a Minimal Viable Product (MVP) license from Dubai's Virtual Asset Regulatory Authority (VARA), enabling the crypto exchange to offer a range of virtual asset services to qualified retail and institutional investors, the company disclosed on Tuesday. The development follows the issuance of the provisional license granted in March, that permitted the company to set up an office in the United Arab Emirates and provide digital asset exchange services to pre-qualified investors and financial firms. With the new permission, Binance will be able to offer a range of virtual asset-related services to qualified retail and institutional investors …