Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD’s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX. As of today, the stablecoin’s marketcap has fallen to $9.66 billion — levels not seen since Jun. 29, 2021. Most recently, BUSD has been the subject of a potential lawsuit against …

Cryptocurrency exchange Binance has confirmed it is “not planning any layoffs” and is trying to fill another 500 roles by the end of June, according to a Binance spokesperson. The comments came despite a huge spike in crypto layoffs in January — the majority of whom were from crypto exchanges. In a statement, the Binance representative said: “As of today, we are actively hiring for more than 500 roles with the goal of filling them by the end of H1 [...] We are not planning any layoffs.” The spokesperson was responding to a request for clarification from Cointelegraph on Mar. …

Amid various reports about Binance trying to revive its crypto licensing plans in Singapore, the crypto exchange has come out to set the record straight. Binance told Cointelegraph that Ceffu, its "independent institutional custody partner," is the one looking to apply for an institutional crypto custody license when Singapore’s central bank opens up applications. Singapore has established itself as a hub for crypto businesses owing to its flexible tax policies, access to diverse tech talent, and its convenient location that allows companies to operate smoothly within the region in Asian time zones. The Monetary Authority of Singapore (MAS) is expected …

In the aftermath of the FTX collapse, Forbes published an article that focused on the recent “shuffling” of funds by the cryptocurrency exchange Binance. However, the following day on Feb. 28, Binance co-founder and CEO Changpeng Zhao (CZ) took to Twitter to tackle the FUD. In response to the article, the CEO said: “They seem to not understand the basics of how an exchange works. Our users are free to withdraw their assets any time they want.” In his series of tweets, he addressed various claims from the Forbes article. This included what it called a “backroom maneuver” when Binance …

Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes two days after Binance CEO Chanpeng 'CZ' Zhao said in a Feb. 14 Twitter Spaces that Binance would look to “diversify” its stablecoin holdings away from BUSD. We're live! Tune-in to our Twitter Space AMA with @cz_binance below https://t.co/bXIztCKdry — Binance (@binance) February 14, 2023 Despite minting nearly $50 million in TUSD from the TrustToken platform’s smart contract …

An investigative report has suggested that major cryptocurrency exchange Binance was behind transferring roughly $400 million in funds from a Binance.US account to a trading firm managed by Changpeng Zhao. According to a Feb. 16 Reuters report, an investigation of Binance’s banking records and company messages showed more than $400 million was sent in a series of transactions starting in 2020 from an account controlled by Binance.US to trading firm Merit Peak. The United States Securities and Exchange Commission reportedly launched a probe into potential connections between Binance.US and the same trading firm in February 2022. Reuters reported that a …

Cryptocurrency exchange Binance plans to continue supporting its Binance USD (BUSD) stablecoin despite its issuer Paxos facing a stop order from American regulators. As reported by Cointelegraph, the New York Department of Financial Services (NYDFS) has ordered blockchain firm Paxos to cease issuing dollar-pegged stablecoin BUSD. Paxos has also received a wells notice from the United States Securities and Exchange Commission (SEC) alleging that BUSD is an unregistered security. Binance CEO Changpeng ‘CZ’ Zhao has moved to assure users that funds are safe despite the intended enforcement action. A Twitter thread on Feb. 13 noted that Paxos is regulated by …

The FTX saga and the developments that led to the crypto exchange's collapse will be framed in a new documentary focusing on the volatile relationship between Sam Bankman-Fried and one of his fiercest critics, Binance founder Changpeng Zhao. According to The Hollywood Reporter, the production is a partnership between media outlet Fortune and Unrealistic Ideas, a non-scripted production company co-founded by American actor Mark Wahlberg, Stephen Levinson and Archie Gips. "The tumultuous relationship between SBF and CZ has played out to a certain extent in articles and on Twitter, but this definitive documentary will give people a 360 degree personal …

As traditional institutions proactively reduce exposure to cryptocurrencies as a reaction to ecosystem collapses in 2022, Binance CEO Changpeng ‘CZ’ Zhao believes this move could potentially have a negative impact on such traditional financial players. The collapse of major crypto platforms, such as FTX and Terraform Labs, not only reduced trust among investors but also forced the traditional market to reevaluate their strategies for stepping into the crypto ecosystem. While the reluctance of traditional players stands as a deterrent to crypto’s adoption in the short term, CZ argues that the decision might backfire over the next two decades. as they …

Cryptocurrency has faced more than its fair share of catastrophes, nearly all of which seemed as though they might end or at least seriously impede the continued growth of the sector. Yet despite the many “teachable moments,” the social layer of crypto refuses to learn its lesson and continues to place its trust in the hands of individuals rather than fully utilize the technologies it claims to support. Since the early days of the industry, crypto has faced major blows at the hands of centralized actors — Mt. Gox, which handled 70% of global Bitcoin transactions, lost track of 25,000 …

Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet. According to the Wall Street Journal, CoinDesk has sought the help of investment bankers from financial advisory firm Lazard, who are helping the firm weigh options including a full or partial sale. You know, I just realized that Coindesk is for sale. pic.twitter.com/QqmBPOClpu — Charles Hoskinson (@IOHK_Charles) January 19, 2023 DCG has purportedly received multiple offers exceeding $200 million to buy out the media firm over the last few months, which would result in a phenomenal …

Bankrupt crypto lender Voyager Digital received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion amid a national security probe Voyager is seeking to speed up. On Jan. 10, United States Bankruptcy Judge Michael Wiles allowed Voyager to enter into the asset purchase agreement and seek creditor approval, but the sale will not become final until a future court hearing, according to a Jan. 11 Reuters report. It comes as Voyager wants to expedite a review of its proposal to sell assets to Binance.US which could result in the deal being blocked or delayed. …