Changpeng Zhao, founder and CEO of the largest global cryptocurrency exchange Binance and one of the world’s top crypto billionaires, does not own much except crypto. “I’m one of those guys who value liquidity much more than owning something. I actually prefer not to own anything,” Zhao said in a Bloomberg interview on Wednesday. He noted that various cryptocurrencies like Bitcoin (BTC) now make up nearly 100% of his entire net worth as he does not own any real estate or much fiat holdings. When asked how much of his net worth is invested in crypto, Zhao said: “I would …

Since bursting into mainstream consciousness in 2021 — and even being the subject of a parody on Saturday Night Live — nonfungible tokens have become best known for serving as a vehicle for digital art. Although this application is revolutionary in itself, many crypto enthusiasts believe the industry is only scratching the surface when it comes to developing compelling use cases for NFTs. One of the biggest challenges when buying and selling goods in an online era concerns authenticity — and in recent years, several luxury brands have been exploring whether blockchain technology could help clamp down on counterfeiting. As …

One telltale sign of a growing altcoin season is when obscure and lesser-known projects start putting on face-melting gains as traders scramble to jump on the rising price. New Kind of Network (NKN) has emerged over the past month as one of these surprise gainers, increasing 1,400% from a low of $0.052 on March 8 to a new all-time high of $0.779 on April 6. NKN is a peer-to-peer network connectivity protocol and ecosystem that uses economic incentives to “motivate internet users to share network connections and utilize unused bandwidth.” Since its launch in January 2018, the project has steadily …

Decentralized finance has taken a back seat to nonfungible tokens over the past month but this hasn’t stopped the top DeFi projects from developing and strategizing how to grow their ecosystems and market share. One project that has outperformed the field as of late is PancakeSwap (CAKE), the Binance Smart Chain-based automated market maker (AMM) that allows users to exchange tokens and earn a portion of fees through yield farming. According to a recent report from Delphi Digital, several factors have played a significant role in helping the PancakeSwap ecosystem grow in recent months and analysts predict that the protocol …

Native exchange tokens have exploded in value in recent months, alongside the wider cryptocurrency markets, changing the narrative for what these tokens were originally meant for. Bitcoin (BTC), Ether (ETH) and other cryptocurrencies have seen exponential growth over the past six months. In part, this is due to major institutional investors finally entering the markets in a meaningful way. Grayscale Investments, MicroStrategy and Tesla have been some of the biggest names to make major acquisitions of Bitcoin and other cryptocurrencies, leading to new all-time highs in values. This has had a knock-on effect for various tokens that either power cryptocurrency …

A social crypto trading platform connects professional traders with new investors — creating a win-win situation. Learning about cryptocurrencies can be a steep learning curve, and according to Tycoon, mastering the art of trading well is also difficult and time consuming. The platform aims to improve accessibility into this flourishing space through the use of API technology — meaning that a trader who is starting out can connect to a more experienced professional and copy their moves in real time. Tycoon says this approach can help newcomers accelerate their educational journey, all while potentially making the process much more rewarding …

The privacy-centric web browser Brave will soon integrate a dedicated Binance Smart Chain, or BSC, wallet, according to a recent announcement. This allows the browser’s users to open up to BSC’s ecosystem of decentralized finance, or DeFi, products. Although Brave can already be configured to jump onto BSC manually, the addition of a preconfigured wallet is expected to simplify the process, requiring no special apps, wallets or additional tinkering. In the meantime, the token at the center of the Brave browser, Basic Attention Token (BAT), has been made compatible with BSC in the form of Wrapped BAT (WBAT). Wrapping is …

Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb. Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several unnamed sources. Naver is the provider of South Korea’s largest search engine and Line messenger, and is reportedly seeking to expand its platform’s presence in the country’s fintech market. The internet giant is reportedly planning to add Bitcoin (BTC) as a payment option on its payment services Naver Pay as well as Line Pay in Japan …

Turns out a turtle’s arms are plenty long enough to pull a rug. On Friday, Binance Smart Chain, or BSC, file storage project TurtleDex performed a “rug pull” exit scam — a colloquial term for when a project’s developers drain the liquidity or stored funds invested by the protocol. Coming off of a March 15 presale round that raised 9,000 Binance Coin (BNB) tokens worth nearly $2.5 million, the team drained those funds from trading pools on BSC-native decentralized exchanges PancakeSwap and ApeSwap, converted the liquidity to Ether (ETH), and sent the funds to Binance exchange wallets to be sold, …

Texas regulators have, for some time now, viewed cryptocurrency investment schemes as a risk to Main Street investors and have continued to issue public warnings against possible crypto-related scams during the COVID-19 pandemic. The latest move from the Texas State Securities Board, or TSSB, is action, not words: an emergency cease and desist order against an entity misappropriating the Binance name. According to an announcement on Monday, the target of the order is a business claiming to operate from the United Kingdom, which has previously been subject to an advisory warning from securities regulators in the Philippines. They had already …

Shortly after a Bloomberg report on Friday that cryptocurrency exchange Binance was under investigation for permitting US residents to place unlawful trades, Binance founder and CEO Changpeng Zhao (better known as CZ) dismissed the reports during a live AMA on Clubhouse, saying that the report had “no teeth.” “This is a topic that just came up, literally like a few minutes ago or a hour ago,” said CZ. “So number one, the news article said there was no, I don’t have it in front of me, there was no “misconduct,” I have to dig it up. So number one there …

Binance, the world’s largest cryptocurrency exchange by trade volume, is reportedly under investigation by the United States Commodity Futures Trading Commission regarding possible trades made by U.S.-based customers. Binance Holdings Ltd is being investigated by the watchdog concerning possible derivatives trades made by American customers, Bloomberg reported on Friday, after being tipped off by an anonymous source. The exchange has not yet been accused of any wrongdoing, however, regulators are now reportedly seeking to determine whether cryptocurrency derivatives were bought and sold by U.S citizens on the Binance platform. A Binance spokesperson told Cointelegraph, “We do not comment, as a …