Keeping pace with the rapidly developing decentralized finance niche within the crypto industry, major crypto exchange Binance has called on blockchain auditing company CertiK to beef up its platform's security. "The rapid innovation and experimentation of DeFi is what makes it so great, but speed should not compromise security," CertiK's chief operating officer, Daryl Hok, told Cointelegraph. "We're providing a way for early adopters to continue to reap the benefits without having to be the guinea pigs bearing the brunt of the risk. As security experts in the field, we're in a unique position to extend the security promise to …

Last Friday night, crypto YouTuber Ivan on Tech messaged me on Twitter. Shortly into our conversation, he graciously offered me an investment opportunity in “Bitcoin trading/mining”, courtesy of a platform that he alleged was associated with Binance. In reality, however, I was being approached by an Ivan impersonator, peddling a crypto affinity scam. The platform "Ivan" advertised, called Cryptobinance, has no affiliation with the actual Binance exchange, a representative of the company told Cointelegraph. But I played along with the scammer to see what additional information could be elicited from him. I told him that I was impressed by his …

Catherine Coley, the CEO of crypto exchange Binance’s United States branch, says adopting crypto may be one of the only ways for businesses to be “pandemic resilient” going forward. In a Sept. 21 interview with Joe Weisenthal and Tracy Alloway on Bloomberg’s Odd Lots podcast, Coley said crypto had the ability to offer “uses beyond speculation” wherein investors could engage in e-commerce transactions, drive new businesses, and other real-world applications like mortgages: "If you’re building a company in the next five years and you do not consider digital assets as a component, you’re going into this in an ignorant way. …

OKEx CEO Jay Hao called out Binance and its CEO Changpeng Zhao for their recent support of certain DeFi projects. He also claimed that Binance Smart Chain, or BSC, is highly centralized, noting that it is wholly controlled by a single team. According to Hao, BakerySwap, built on BSC, collapsed after only 12 hours, leading to protests in China and elsewhere: Source: Twitter. Today’s thread follows up on a series of tweets from September 15, in which the OKEx CEO condemned Zhao and his fellow Binance co-founder, Yi He, for their platform's hasty SUSHI listing. Hao criticized Binance’s “irresponsible behavior …

The food-related craze for yield farming is showing no sign of abating. So far this year, the crypto space has been treated to Yam, Shrimp, Spaghetti, Cream, and of course, the most-talked-about dish of recent weeks — Sushi. Next up on the menu is BurgerSwap, the latest decentralized exchange that aims to improve upon Uniswap with a different incentive model and community governance. It’s essentially a clone of SushiSwap, with some variations and one significant difference. BurgerSwap is the first of its kind to be developed on the EVM-compatible Binance Smart Chain. Binance launched its BSC on Aug. 31. Only …

The United States arm of Binance, the world’s largest cryptocurrency exchange, has entered a major organization focused on decentralized finance, or DeFi. According to a Sept. 17 blog post, Binance.US has officially joined the Chicago DeFi Alliance. Also known as the CDA, the association is backed by crypto fund Volt Capital, brokerage firm TD Ameritrade, CMT Digital, Cumberland DRW, Compound Finance and others. By joining the alliance, Binance.US aims to contribute to the further development of the DeFi industry in the U.S., the firm’s CEO Catherine Coley said. “By working with DeFi Alliance, Binance.US will help mature the DeFi space, …

A report from crypto data provider, Xangle, claims that tokens which first gain traction on Uniswap have consistently provided 208% returns on average once listed by major centralized exchanges. In the past, much had been said about the “Coinbase effect” and “Binance effect”, in which a token's price allegedly experiences fast appreciation once listed by either of the former exchanges. However, this time, it is purportedly a combination of listings that yields results. The report's authors examined a number of tokens that landed on a major centralized exchange after having already been listed by the Uniswap decentralized exchange. They concluded: …

Decentralized finance (DeFi) platform Uniswap’s governance protocol token UNI went live on Ethereum earlier today. The community showed immediate support for the new token with Uniswap’s Twitter announcement garnering over 1.2 thousand likes in the first 90 minutes. 150 million UNI, or 15% of the token's supply, is now available to be claimed by anyone who has used the platform. Synthetix founder Kain Warwick called the move a “galaxy brain move,” adding that this will be “the best token distribution we have ever seen.” With the news going viral, 13,000 Uniswap users had already claimed their 400 free tokens in …

Unfazed by the controversy over its Sushiswap listing, Binance announced support for Uniswap’s new UNI token around 90 minutes after the DeFi platform's governance token went live on Ethereum. Over the next four years, one billion UNI tokens will be distributed, with 15% being immediately available for historic users of the platform to claim today. In total, 60% will go to community members, while the remaining 40% going to team members, investors, and advisors with a vesting period of up to 4 years. After four years, the token will settle at an inflation rate of 2% annually. The official announcement …

The world’s largest exchange, Binance, has officially announced that its cryptocurrency debit card is now available in Europe. According to a Tuesday blog post, the Binance Visa Card is now available to everyone in European Economic Area, or EEA, countries. To celebrate the launch in Europe, Binance is offering up to 7% cashback from purchases with the card. According to the firm, this is the highest cashback rate available in the market to date. Binance noted that Binance Visa Card converts the user's crypto funds into a local currency automatically, allowing them to spend crypto like Bitcoin (BTC) at 60 …

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On Sept. 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Despite being touted as the likely catalyst for an institutional-led bull market, Bakkt’s Bitcoin derivatives failed to meet the expected impact, seeing sustained …

New data from CryptoQuant, an on-chain analytics firm, shows $113 million worth of Binance USD (BUSD) has flowed into Binance exchange over the past week. This means BUSD stablecoin now has the highest potential buying power over all other USD-based stablecoins except for Tether (USDT). BUSD inflow to Binance. Source: CryptoQuant Binance’s new USD-backed stablecoin is ERC-20-based and was launched in 2019 in partnership with Paxos. Since then, BUSD has steadily been gaining traction as its volume increased and recently surpassed that of USD Coin (USDC) on Sept. 4. Main USD-backed stablecoin contenders - 24h volume (USD). Source: Skew Binance …