Amid intensifying concerns over Binance’s global regulatory issues, the company’s CEO and founder, Changpeng Zhao, has underscored the exchange’s commitment to cooperating with regulators. In an open letter on Tuesday, Zhao emphasized that the cryptocurrency industry has massively evolved over the past four years since Binance’s launch, while there is still a lot of regulatory uncertainty around crypto. In response to the growing regulatory “hyper-focus,” the CEO shared Binance’s key principles, including its willingness to work with financial authorities in order to be a “positive contributor.” Zhao said that the crypto industry still lacks clear regulatory frameworks in several countries, …
Binance.US, the United States-based arm of major crypto exchange Binance, will start trading on Sept. 24, offering zero trading fees until Nov. 1. 13 trading pairs Binance.US will launch 13 fiat-to-crypto and crypto-to-crypto trading pairs, according to a blog post on Sept. 23. The trading pairs include major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and the Tether (USDT) stablecoin. The exchange will purportedly list a second batch of coins soon, following an evaluation period based on its Digital Asset Risk Assessment Framework. Know Your Customer onboarding already set up As …
The operator of United States-based division of Binance crypto exchange has appointed former Ripple exec as its new CEO, the company officially announced on July 2. BAM Trading Services (BAM), the operator of recently launched Binance US, has hired Catherine Coley, former liquidity management expert at Ripple, to oversee the launch of Binance US and bring BAM’s market to North America. After joining Ripple in 2017, Coley served as Head of XRP Institutional Liquidity, her most recent position prior to Binance US. Coley’s professional experience includes forex exchange (forex) expertise with five years at financial services company Morgan Stanley, as …
Binance’s cryptocurrency trading platform for United States-based users, Binance.US, has partnered with crypto brokerage firm Tagomi to provide institutional liquidity for its users. The partnership was announced in a Nov. 21 press release, detailing that Binance.US will now offer institutional liquidity for Tagomi’s users, including quant funds, venture funds, family offices, individual retirement accounts and high-net-worth individuals. Tagomi’s customers will also receive increased access to Binance.US’s select trading pairs. Cultivating a new class of crypto investors Commenting on the development, Catherine Coley, CEO of Binance.US, noted that the new collaboration will help lower the barriers to enter the market, as …
Cryptocurrency exchange Binance is working with accounting firm Mazars as part of its proof-of-reserve (PoR) audits triggered by the fall of FTX. Mazars, the accounting firm that worked for former United States President Donald Trump’s company, was appointed as an official auditor to conduct a “third party financial verification” as part of Binance’s PoR updates, The Wall Street Journal reported on Nov. 30. The accounting firm is reportedly already reviewing all Binance’s publicly shared information on Bitcoin (BTC) PoR and will also be verifying future updates and tokens, a spokesperson for Binance reportedly said. “The first verification update for BTC …