Chef Nomi has cooked up what appears to be the biggest exit scam of 2020, but should others be held accountable as well? Binance, like many other major exchanges, listed SUSHI raw and unaudited on Sept. 1. The token price doubled upon listing. The token contract was deployed on Aug. 26, it started trading two days later, and the first and only security audit was published on Sept. 3 (the firm confirmed to Cointelegraph that it had not discussed its audit of SushiSwap with Binance prior to publication). Binance’s listing guidelines purport that the exchange does a lot of due …

Many crypto heavyweights use Twitter as their primary tool for sharing information (or even misinformation) about their own projects or other interesting subjects. Some of them even consider Twitter engagement their most important performance indicator. We decided to put the Twitter habits of the crypto elite under a microscope to get a better sense of how they actually engage with the popular social media platform. Android, Apple or Web? For our analysis, we picked 13 crypto entrepreneurs (we measured each Winklevoss twin’s habits independently). To make our list, the subjects had to be actively running a crypto business and command …

With Decentralized Finance (DeFi) gaining steam, exchanges like Binance find ways to co-exist with innovations like DeFi. Binance Co-Founder and CEO Changpeng Zhao (CZ) said DeFi is an innovative space and investing decentralized exchanges will not be a challenge for regular exchanges. In an interview at the Boxmining Youtube channel, CZ said DeFi makes the space more attractive. In particular, he pointed to automatic market makers (AMM) as a fascinating invention. “I think DeFi is a really innovative space and I think that’s really good. Initially, when people talk about DeFi they think about lending so you can lend your …

Liechtenstein’s Financial Market Authority (FMA) has reportedly pulled the plug on an alleged application to bring Binance CEO Changpeng Zhao on as a major shareholder in a distressed domestic bank. As reported by Swiss financial news outlet Inside Paradeplatz on Aug. 10, the FMA rejected the purported application and also declined to approve an extension for further expert opinion that could intercede to save the rumored deal. In November 2019, Zurich-based commercial lawyer Wolfram Kuoni had reportedly addressed Union Bank AG’s shareholders, claiming: “The FMA is likely to accept Binance as shareholder. However, given that [Union Bank] as of now …

After months of waiting, planning and testing, Binance has begun delivering its debit cards to customers. “This started shipping in limited quantities as of yesterday, I heard,” Binance CEO Changpeng Zhao, also known as CZ, said in a July 25 tweet, responding to a community member interested in the product. Previous reporting shows an August launch for the card in European regions, so, it can be inferred, CZ means shipping to European customers at this time. Cointelegraph reached out to Binance for additional details but received no response as of press time. This article will be updated accordingly should a …

Binance, the world’s largest crypto exchange, is considering purchasing or setting up its own bank. The company’s CEO Changpeng Zhao, or CZ, revealed the news during an AMA session hosted by Binance-owned CoinMarketCap on July 22. Could it happen? During the AMA, CZ highlighted that the idea of purchasing or building their own bank has been circulating around Binance for a while. When asked about Binance’s plans to “ever launch a bank with all the world products,” CZ answered that “the idea of buying a bank came up like a thousand times.” CZ elaborated that bank acquisition ideas have been …

Since Bitcoin (BTC) price rallied above $19,000 in 2017, crypto analysts have issued an amazingly wide range of price predictions on the date and value of the next all-time high or low. Sometimes these predictions are rooted in deep fundamental and technical analysis, whereas other times they are simply nothing more than off-the-cuff estimates issued at whim. Options markets provide useful insights into traders' expectations, including mathematical probabilities for an asset's future prices. Using Black & Scholes model allows one to better assess the likelihood of analysts' estimates. The Black & Scholes valuation algorithm has been the basis for the …

Binance will remove the ability to record audio from its Android app in the upcoming update scheduled for “mid-July”, cryptocurrency exchange CEO Changpeng Zhao, also known as CZ, told Cointelegraph. Binance App will allegedly drop the microphone permission The company’s privacy-oriented move follows spyware concerns raised by crypto community members last week. Specifically, user @ShitcoinSherpa tweeted certificate issuer screenshots, showing that the permissions asked by Binance in its Android app include access to the camera and the ability to record audio. At the time, Binance’s chief security officer told Cointelegraph that “the camera is used during the KYC process,” stressing …

Binance’s highly-anticipated cryptocurrency debit card, Binance Card, is officially debuting in countries of the European Economic Area, or EEA. Binance told Cointelegraph on July 14 that EEA-based users will be able to apply for a Binance Card starting in August. While the United Kingdom will follow in the near future, users in other regions are invited to “register their interest” via the Binance Card website, the firm said. As previously reported, Swipe is currently available in 31 countries within the EEA, including countries like France, Germany, Italy, and Spain, among others. Swipe is not yet available in the United States, …

Binance’s CEO has just demonstrated the first use of Binance Card, a cryptocurrency debit card that was first announced by Binance in April 2020. In a July 10 tweet, Binance CEO Changpeng Zhao revealed that he is taking part in Binance Card beta testing, featuring transactions involving Binance’s native token, BNB. In the tweet, CZ noted that the beta test features “all real transactions” including Amazon’s audio store Audible, Uber alternative Grab, and a major e-commerce platform, Lazada. CZ also said that the BNB payments were completed directly from his Binance account, while merchants accepted the payment in fiat. “Binance …

Speaking at Unitize virtual event, Coin Metrics researcher Lucas Nuzzi suggested that one way for exchanges to fight back against the hackers is by renting mining power from online marketplaces. Six confirmations ticking countdown Nuzzi conjectured that an exchange which has been hacked could rent enough hashing power through an online marketplace to force a favorable network reorganization: “So, it is essentially a technique to try and reorg yourself by renting mining power and doing that work where if you’re an exchange and you've been hacked, within those six work confirmations that the network is expecting to be considered final. …

Major cryptocurrency exchange Binance and Indonesian exchange Tokocrypto have listed a rupiah-backed stablecoin, Binance IDR (BIDR). According to an announcement on June 30, Binance and Tokocrypto users can now trade BIDR against Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Tether (USDT) and Ether (ETH). Users will also be able to directly purchase and redeem the stablecoin at a rate of 1 Indonesian rupiah each ($0.000070). A part of Binance’s expansion plans BIDR is pegged to Indonesia’s fiat currency and runs on Binance Chain. Binance CEO Changpeng Zhao claims that this is the first stablecoin pegged to this fiat currency …