Uranium Finance, an automated market maker platform on the Binance Smart Chain, has reported a security incident that resulted in a loss of about $50 million. Tweeting on Wednesday, Uranium revealed that the exploit targeted its v2.1 token migration event and that the team was in contact with the Binance security team to mitigate the situation. (1/2)‼️ Uranium migration has been exploited, the following address has 50m in it The only thing that matters is keeping the funds on BSC, everyone please start tweeting this address to Binance immediately asking them to stop transfers. — Uranium Finance (@UraniumFinance) April 28, …

Binance, the world’s largest cryptocurrency exchange, is entering the nonfungible token industry by introducing its own NFT platform and marketplace. The company announced Monday the upcoming launch of Binance NFT, a new NFT platform that is expected to start operating in June. Based on Binance’s blockchain infrastructure, Binance NFT aims to provide minimum NFT transaction costs, Binance NFT head Helen Hai said. The new NFT marketplace and offerings will be available to all existing Binance users, as Binance NFT will share the same account system as Binance.com. According to the announcement, Binance NFT will debut with two main venues including …

New York cryptocurrency exchange Gemini announced on Tuesday the pending release of the Gemini Credit Card, which will allow cardholders to receive cashback rewards in the form of Bitcoin (BTC) or any other cryptocurrency available on the Gemini platform. The credit card will be released in conjunction with Mastercard and will be issued by online banking institution WebBank. It is expected to be released this coming summer and has reportedly received over 140,000 sign-ups from waiting customers already, according to the company’s press release. Gemini joins major cryptocurrency exchanges like Binance and Coinbase in launching a crypto credit card. The …

Top crypto asset exchange Binance has announced it will list three new stock tokens over the coming week, following the launch of tokens tracking the performance of Tesla and Coinbase shares earlier this month. On Monday, Binance announced it will launch tokenized stock pairings for leading business intelligence firm MicroStrategy (MSTR) in addition to multinational tech firms Apple (AAPL) and Microsoft (MSFT). The tokens will allow users to trade fractionalized units of the share tokens, with minimum trade sizing set at one one-hundredth of a token. Binance’s MSTR tokens are slated to go live at 1:30 pm UTC on Monday, …

The big news this week happened on April 16th, when a major power outage in Xinjiang wreaked havoc on the BTC hash rate. According to local sources, the hash rates on Ant Mine Pool fell by 21.93%, BTC.com by 18.5%, Binance Mine Pool by 22%, and Huobi Mine Pool by 25.5%. Reports from Cointelegraph linked it with safety inspections resulting from a mine accident in the western-most province. Western China has a strong presence in the mining space due to cheap electricity and equally affordable real estate. Despite miners originally stating the impact would only last 1 to 2 days, …

SafeMoon, a token on Binance Smart Chain widely recognized as a TikTok meme coin, is seeing massive volatility after its huge gains of the past week. According to data from Dex.guru, which tracks altcoins on various blockchains, the price of SafeMoon has dropped by nearly 50% in the last two days, from $0.0000074 to $0.0000045. Does the SafeMoon rally have any strength? SafeMoon is a cryptocurrency on Binance Smart Chain that started out at a low market capitalization of around $50,000. The price and market cap of SafeMoon went parabolic after growing popularity on TikTok. According to Dex.guru, the price …

Cryptocurrency exchange Binance’s latest product — digital stock tokens representing fractions of equity shares like Tesla and Coinbase — is reportedly being studied by European and British regulators over its possible non-compliance with securities laws. A new report from the Financial Times claims that regulators are concerned the tokens may not provide sufficiently transparent corporate disclosures, specifically an investment prospectus, that would be required if the tokens were judged to be securities. Germany’s Federal Financial Supervisory Authority, or BaFin, told FT reporters that while it could not comment on the case specifically: “Fundamentally [...] the following applies: if tokens are …

PancakeSwap, a syrupy rabbit-themed decentralized exchange that calls the Binance Smart Chain its home, has surpassed the entire Ethereum network in terms of transaction volume over a 24-hour period. Data courtesy of DappRadar shows over 2 million transactions for PancakeSwap compared with 1.55 million for Ethereum. At the same time, Binance Smart Chain reported over 6 million transactions, with roughly 20% of them occurring over the same 24-hour stretch. The top five contributors were PancakeSwap, Mdex, Safemoon, PancakeBunny and Venus Protocol, Binance Chain Community confirmed earlier this week. Top 5 Txs contributors 1. @PancakeSwap 2. @Mdextech 3. @safemoon 4. @PancakeBunnyFin …

Following the high-profile appointment of Brian Brooks to CEO of Binance.US, it has come to light that the Malta-based parent company has reshuffled its executive leadership by appointing Terence Zeng as head of Greater China. Zeng reportedly graduated from John Hopkins University and possesses a law degree from the University of Hong Kong, though his online presence is limited. He has been heading Binance’s Greater China division since at least early April, according to an interview with Chain News, a China-based technology publication. In the interview, dated April 7, Zeng introduces himself as the head of Binance Greater China. “I …

How popular are trading bots in the crypto market right now? According to TradeSanta, demand for trading bots has increased substantially of late. The latest figures from the platform’s website suggest that it now has more than 100,000 active users, and over 3,200 active trading bots. More than 3.8 million deals have also been completed since the software launched. A range of technical indicators are provided by TradeSanta, and the software also allows large volumes of crypto to be bought and sold without causing prices to spike or drop. Trading bots can also be launched in just five minutes using …

Brian Brooks, the former acting comptroller of the currency of the United States Office of the Comptroller of the Currency, is set to become the new CEO of major cryptocurrency exchange Binance US. According to a Tuesday announcement, Brooks will replace current Binance US CEO Catherine Coley effective May 1, 2021. Formerly the head of Coinbase’s legal team, Brooks has emerged as a prominent figure in the crypto industry due to his continued efforts to provide regulatory clarity for crypto. Referred to in the community as the “first fintech Comptroller” and “Crypto Comptroller,” Brooks served as acting comptroller of the …

NFTb, a nonfungible token platform built on the Binance Smart Chain, is launching a new version of its marketplace focused on supporting social causes and providing artists with more affordable listing options. The new marketplace connects artists and leading charities, allowing anyone to auction their artwork at an affordable rate and donate a portion of their proceeds towards a charity of their choosing. NFTb claims over 120 artists have already joined the waitlist. Sia Mohajer, an executive with NFTb, said many artists are concerned about the environmental impact of their work and that current marketplaces don’t provide any recourse for …