Binance’s chief executive Changpeng Zhao or CZ and Ethereum’s co-founder Vitalik Buterin are in furious agreement that a new blockchain-based voting system is required to improve democratic processes in the United States. But it won’t be as easy to implement as one might think. Responding to prolonged uncertainty over the result of the controversial 2020 U.S. presidential election, CZ tweeted that now is the right time for developers to build “a blockchain based mobile voting app.” Binance’s CEO argued that such a voting system would reduce the time taken to confirm the outcome of an election, enhance voters’ privacy, and …

Binance announced Wednesday the successful recovery of $344,000 in funds from the attempted exit scam of Wine Swap, a project on the Binance Smart Chain (BNB). Wine Swap was an automated market maker platform similar to Uniswap that launched on Oct. 13. Within an hour of the launch, it had amassed $345,000 in funds, which were promptly pulled from the platform by the creators of Wine Swap. The funds were then spread across several directions in a bid to get them out of Binance Smart Chain. The majority were swapped to the Ethereum blockchain, though a portion was also sent …

Changpeng Zhao, CEO of Binance, is pushing back hard against allegations that the crypto exchange set up its U.S. arm to circumvent regulations and surreptitiously profit from investors. According to an Oct. 29 article from Forbes writer Michael Del Castillo, the news outlet claims to have obtained a leaked presentation outlining Binance’s plans for operating in the United States. The document states that in 2018 — prior to the launch of Binance.US — the crypto exchange intended to set up a “Tai Chi entity” in the U.S. to act as a type of regulatory lightning rod protecting its main operations …

Simplex, a crypto-to-fiat payments provider, is adding another fiat offramp to enable its partner exchanges like Binance and Huob to sell major stablecoin Tether (USDT) to the euro. According to an Oct. 29 announcement, Simplex has rolled out new Tether (USDT) offramps across its partner network including major exchanges like Binance, OKEx and Huobi. A Simplex representative told Cointelegraph that the latest development marks the first time when the sell option is enabled for Tether on Simplex, stating: “USDT has been available to purchase through our partner network for a while but ‘cashing out’ and selling directly in this currency …

Binance, the world’s largest cryptocurrency exchange, is funding a major decentralized audio streaming service through its investment and incubation arm. According to an Oct. 23 announcement, Binance Labs led a $1.25 million extension round for Audius, a blockchain-enabled streaming service that connects music fans with artists. The latest investment round follows a $3.1 million round co-led by Multicoin Capital and Blockchange Ventures in July 2020. Major industry players like Pantera Capital and Coinbase Ventures also participated in the round, as previously announced. According to Audius Co-founder and CEO Roneil Rumburg, the latest rounds brings the platform's total investment up to …

On October 20, 2020, the amount of Bitcoin (BTC) held at major exchanges fell below 2.5 million BTC for the first time in two years. Nexo co-founder Antoni Trenchev opined to Cointelegraph that this trend is driven by the world finally realizing that only Bitcoin offers sound monetary policy: “[People are] slowly are realizing what some of us have known for a while — BTC is the only sound monetary policy right now and you cannot afford to depart from the best performing asset of the decade.” He also noted that the community is resorting more to self-custody solutions, including …

A cloud cryptocurrency software provider that aims to make automated trading simple says it now has over 70,000 active users and over 7,000 active trading bots, with almost 3 million deals completed successfully since its launch. TradeSanta’s software can be connected to seven major exchanges, including Binance, Huobi, OKEx and HitBTC. The company says setting up an account is simple, and trading bots can be set up in under two minutes. From here, long and short bots can be utilized to take advantage of bull and bear markets alike, and technical indicators can be relied upon to open trades at …

Binance, the world's largest cryptocurrency exchange, announced that it will soon close down its Jersey-based subsidiary, Binance Jersey. Binance launched its platform in Jersey as part of its expansion drive to tap into European markets. On Jan. 15, 2019, the exchange announced that Binance Jersey would allow fiat-to-cryptocurrency trading for European traders. At launch, the exchange supported Bitcoin (BTC) and Ether (ETH) trading against both the euro and the British pound. While the exchange aimed to make Binance Jersey a “major driving force” in European markets, the statistics show that it fell short of its goals. According to the latest …

A recent survey by cryptocurrency data aggregator, CryptoCompare, shows that centralized exchange operators do not see the emergence of decentralized trading venues like Uniswap as a threat despite growing volume and activity in the DeFi space. In its September exchange review, CryptoCompare asked 26 of the leading venues in the space how likely it was for DEX liquidity to overtake that of centralized exchanges in a 2-year time span. 70% of those interviewed said that decentralized exchanges will not overtake centralized exchange volume due to their lack of liquidity. Only 7.7% of the representatives found that it was a likely …

Global cryptocurrency exchange Binance announced funding for six projects building on the firm’s smart chain. In an Oct. 14 statement, Binance stated that blockchain projects AnySwap, Arkane Network, BakerySwap, Bitquery, PancakeSwap and Proxima will receive $350,000 in grants through the firm’s $100 million fund. More than 180 projects have applied for grants since the fund was announced in September. The firm chose the six projects using criteria examining teams, products and contribution to the blockchain ecosystem. Binance CEO Changpeng Zhao said the Accelerator Fund was designed to support the development of high-quality DeFi projects that contribute to building the industry’s …

At the start of October, the crypto market was faced with extremely tumultuous financial conditions, thanks in large part to the recent filings against BitMEX, which saw the company’s top brass being indicted by the United States Commodity Futures Trading Commission on several charges. Not only that, but just a few days before the BitMEX scandal came to light, cryptocurrency exchange KuCoin was hacked to the tune of over $275 million on Sept. 26. In the midst of all this, the crypto derivatives market also witnessed a major development in the form of Binance overtaking Huobi and OKEx to become …

LocalBitcoins, a major peer-to-peer cryptocurrency exchange, is no longer available in Russia without using additional tools like a VPN. LocalBitcoins.net is officially blacklisted in Russia as local telecom regulator Roskomnadzor placed the URL on a register of platforms disseminating prohibited information. According to official data, the website was blacklisted on July 21, following an order of the Onezhsky City Court of the Arkhangelsk region. It’s not immediately clear when exactly Roskomnadzor limited the access to LocalBitcoins’ website. Some local reports claim that LocalBitcoins users in Russia began to experience difficulties in accessing the website in late September 2020. LocalBitcoins has …