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Crypto News

Binance Didn’t Upgrade Customer Checks, Despite Promises to Regulators: Report

The world’s largest crypto exchange kept weak know-your-customer (KYC) checks and did not properly cooperate with authorities, despite its public promises about compliance, Reuters said in an investigative report published Friday. The report was based on interviews with dozens of former employees of Binance, advisers and business partners, as well as the review of hundreds […]

Crypto News

Binance Destroys 1.6M BNB Tokens in First-Ever Auto Burn

Cryptocurrency exchange Binance implemented its first-ever binance token (BNB) auto-burn program last quarter, removing over 1.6 million BNB tokens worth $750 million from circulation. Under the new program, the number of tokens to be burned is arrived at using a formula based on the total number of blocks produced on the Binance Smart Chain, a […]

Crypto News

Binance to Set Up Crypto Exchange With Thailand's Gulf Energy Development

Binance has agreed to set up a cryptocurrency exchange with Thailand’s Gulf Energy Development. Gulf Energy Development, a publicly traded holding firm, informed the Thai Stock Exchange Monday that its subsidiary Gulf Innova is to study developing a digital asset exchange with Binance. Gulf Energy Development says it foresees “rapid growth in digital infrastructure” in […]

Crypto News

Binance Gains Bahrain Approval to Become Crypto Asset Service Provider

Bahrain has become the first Middle East-North Africa country to give Binance approval in principle to establish itself as a crypto-asset service provider. Binance, the world’s leading cryptocurrency exchanges by trading volume, still has to complete the full application process to acquire a license from the Central Bank of Bahrain. The company said in a […]

Crypto News

BNB Burns Will Now Better Reflect DeFi Activity on Binance Smart Chain

Burning BNB, which involves sending tokens to an inaccessible wallet, effectively removes them from circulation forever. It was initially introduced as a mechanism to accrue value and grow Binance. But as the broader crypto market grew and Binance Smart Chain was launched, BNB found uses beyond simply being an exchange token. It is the third-largest […]