Despite the Philippine Securities and Exchanges Commission warning the public against investing with Binance, the crypto exchange stays positive and relentless in bringing its services to the Southeast Asian country. In an interview, Binance’s Head of Asia-Pacific Leon Foong told Cointelegraph that they are very optimistic about being able to enter the Philippines. The executive highlighted that despite the efforts of a lobbying group to ban Binance, the firm will continue to be focused on trying to bring the benefits of crypto to the country. He explained that: “We tend not to really get distracted by what some of these …

The ongoing cryptocurrency winter has triggered an overall decline in interest in centralized crypto exchanges (CEX), but some crypto trading platforms have seen a rise in website traffic. A few major global crypto exchanges, including Sam Bankman-Fried’s FTX, have experienced a significant increase in web traffic despite the bear market of 2022, according to the website analytics platform SimilarWeb. According to data shared with Cointelegraph, web traffic on the FTX crypto exchange has surged as much as 123% year-over-year (YoY) by June 2022. Trading platforms like WhiteBIT and ByBit have seen even bigger growth in interest, with traffic surging 244% …

It’s weird to think that anyone could look forward to downturns in the crypto market, but that is precisely the position held by many developers and project creators who enjoy the low-pressure environment that exists during a bear market. As the saying goes, bear markets are for building, and now is one of the best times to survey the landscape to see which sectors of the market are most active in designing the platforms that will soar to new heights in the next bull cycle. Here’s a look at five sectors of the blockchain ecosystem that may present some of …

Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem saw several new developments despite a bearish phase brought on by the lending crisis in the crypto market. Another crypto lender, Celsius, with high stakes in DeFi protocols, filed for bankruptcy. The overall DeFi market fell to new lows in the second quarter. However, a new report indicates users haven’t given up hope. BNB Chain launched a new decentralized application (DApp) platform with an alarm feature. …

Binance, the cryptocurrency exchange, has recently acquired a virtual asset service provider (VASP) license from the Bank of Spain in order to operate in the country. In its ambitious expansion plans that the cryptocurrency exchange is persisting despite the global jump and market slump in the cryptoverse, there is another country that Binance is looking toward — the Philippines. In June, the CEO of Binance, Changpeng Zhao, stated in a press briefing in Manila that the exchange is looking to obtain a VASP license in the Philippines. In addition to the VASP, Binance wants to get an e-money issuer license …

BNB Chain has launched a new platform, DappBay, to discover new Web3 projects. DappBay is equipped with a novel feature called Red Alarm, which assesses project risk levels in real-time and alerts users of potentially risky decentralized applications (DApps), according to a Thursday announcement. Red Alarm is a contract risk scanning tool offered by DappBay that helps users identify high-risk projects to protect their investments from rug pulls and scams. Users can check if a contract address has logical flaws or fraud risks by entering it into the Red Alarm feature. Gwendolyn Regina, an investment director at BNB Chain, said …

The positive gains recorded in the first ten days of July have all but disappeared on July 13 as Bitcoin (BTC) and the wider market slid back toward new yearly lows. Subdued action in the market can be traced back to a variety of factors, ranging from July 13's record-high Consumer Price Index print and a raging U.S. dollar that recently hit its highest level since October 2002. Data from Cointelegraph Markets Pro and TradingView shows that July 13 marked the fifth consecutive day of a declining BTC price, which hit an intra-day low at $18,910, following the declines across …

Bear markets are always tough, but one of the positives is they clear the clutter and this allows legitimate projects to stand out. While most investors are focused on the latest centralized finance (CeFi) and decentralized finances (DeFi) scandal, the blockchain gaming sector has quietly weathered the storm better than other niches of the market. As shown on the chart above, all sectors of the market have experienced a noticeable decline in active users, but the gaming sector has proven to be the most resilient at retaining users as the bear market intensified. Transactions continue to rise Further proof of …

Global cryptocurrency exchange Binance is under the spotlight as a report claims it continued serving Iranian clients despite a company ban and economic sanctions against the country. According to an investigative report from Reuters, individuals inside the country continued to trade on Binance after the company itself had shifted Iran onto a blacklist of jurisdictions in which it would not operate. The use of the exchange by Iranians also brings into question capital controls instituted against the country after U.S. economic sanctions were ramped-up in 2018. Binance, itself, operates out of the Cayman Islands and is not subject to sanctions …

A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July. Local think tank Infrawatch PH had asked the DTI to investigate Binance for the promotion of its services and offerings, which the group believes was done without the necessary permits. Binance …

Both traditional and crypto investors consider trading fees as one of the most significant liabilities when it comes to investing over exchanges. So no wonder when Changpeng “CZ” Zhao, the founder and CEO of Binance, asked investors about their interest in trading on the crypto exchange with no fees, the response was a resounding yes despite the inherent risks pointed out by the entrepreneur. Binance stands as the biggest crypto exchange, outdoing its nearest competition FTX by 10x in terms of trading volume. CZ, known for implementing features based on community feedback, reached out over Twitter to gauge investor sentiment …

BNB and its role in the blockchain ecosystem Binance Coin (BNB) is the Binance ecosystem’s native cryptocurrency. Launched in 2017, BNB was originally presented as an ERC-20 token on the Ethereum blockchain with a total supply of 200 million. In 2019, Binance started its mainnet swap and migrated all BNB tokens to BNB Chain. Related: A beginner’s guide to the BNB Chain: The evolution of the Binance Smart Chain BNB Chain is composed of two blockchains, both powered by BNB: BNB Beacon Chain: Previously called Binance Chain, this blockchain handles BNB Chain governance functions such as voting and staking. BNB …