Cryptocurrency exchange Binance has officially apologized to the Steem community following its involvement in a major centralization scandal involving Tron founder Justin Sun. In its letter posted on March 10, Binance affirmed that it “stays neutral and has no interest in on-chain governance beyond the Binance ecosystem.” Binance also provided records of its powering down of all the 31,730,000 STEEM tokens it had staked in support of Justin Tron’s allegedly “hostile takeover” of the blockchain. Steem vs. Tron controversy: the backstory Binance’s letter comes following a stand-off earlier this month between members of the Steem community and Tron CEO Justin …

On March 3, Binance CEO Changpeng Zhao announced that the exchange had removed its votes that contributed to a sudden shift of control over the Steem blockchain. Earlier today, leading exchanges Binance, Huobi, and Poloniex came under fire for allegedly mobilizing customer deposits to vote in what has been described as a hostile takeover of popular crypto blogging platform Steemit. Steemit’s native blockchain Steem uses a proof-of-stake protocol — where a small number of “witnesses” are voted on to secure its network. Votes are allocated according to the number of tokens that an individual holds in their wallet. Steem’s witnesses …

Cryptocurrency exchange Poloniex remains confident that it has identified and fixed an error that caused a number of erroneous trades on the platform earlier this week. On Feb. 12, Poloniex made a decision to reverse all trades that took place during an 11-minute period due to a software error. The bug caused trades to be executed and accounted for inaccurately. The platform’s automated audit system picked up the affected trades and halted all withdrawals. Following that, the Poloniex team effectively reversed every trade that had been executed as a result of the bug. The main reason for the reversal, which …

Russia is apparently becoming a more attractive market for cryptocurrency firms as another major crypto platform is adding Russian language support. Poloniex, a popular crypto exchange originally based in the United States, has begun adding the Russian language on its platform just three months after leaving the U.S. market. Announcing the news in a Feb. 13 blog post, Poloniex said that it had started introducing a “partially localized” version of Poloniex for Russian speaking users. The exchange noted that the currently presented Poloniex interface in Russian is just a starting point as the team has translated just a small part …

It’s like shooting yourself in the foot with computer code, then magically going back in time to before it happened. Crypto exchange Poloniex confirmed in a series of tweets today that it rescinded 12 minutes of trading history in response to a software problem that saw a bunch of trades execute “erroneously.” The Twitter announcement did not elaborate on the specific nature of these errors, but the exchange’s perceived technical problems are not the interesting bit here. It’s how Poloniex handled the situation: wiping every trade made between 17:53 UTC and 18:05 UTC today after its automated audits detected the …

Cryptocurrency exchange Poloniex has forced a password reset s due to a leaked list of email addresses and passwords on Twitter. According to Poloniex Security Architect Neil Smithline 5.5% of the posted Twitter list contained email addresses associated with a Poloniex account. On Dec. 30, the exchange emailed its customers as a security precaution to inform them that a list of leaked email addresses and passwords that appeared on another website could potentially be used to log in to Poloniex accounts. The exchange forced a password reset on any email addresses on the list that have an account with the …

Cryptocurrency exchange Poloniex announced a new account tier — dubbed Level 1 — allowing for up to $10,000 in daily withdrawals without requiring full Know Your Client (KYC) onboarding. According to the announcement published by the exchange on Dec. 19, the new account tier has been created in reaction to user feedback. The post reads: “We’ve heard your feedback time and time again about wanting to use Poloniex without giving up your identity. We’ve wanted to make this a reality for a while now and are sorry it has taken us longer than we’d like.” Anonymous trading From now on, …

What started as a Twitter thread of frustrated complaints about corruption and centralization in the crypto industry ended with an abrupt announcement: the delisting of DigiByte on Poloniex. Jared Tate, the founder of DigiByte, once among the most popular coins traded on the exchange, sat down with Cointelegraph to share about his concerns following the debacle. Source: Twitter The acrimonious relationship between Tate and the larger forces of Binance (and most recently, the Tron-acquired Poloniex exchange) traces back to a different era in the crypto industry. It was 2017, and markets were on fire. Binance was growing by leaps and …

Payments company Circle will install a new CEO at the start of 2020 after one of its original co-founders steps down from the position. According to cryptocurrency media outlet CoinDesk on Dec. 5, co-founder and co-CEO Sean Neville will transition to a post on the company’s board of directors in January. Sean Neville becomes board member Neville launched Circle with Jeremy Allaire in 2013, and has presided over its metamorphosis in the ensuing years, including a pivot away from Bitcoin (BTC) and the acquisition of cryptocurrency exchange Poloniex last year. As Cointelegraph reported, Circle is now selling Poloniex, Neville describing …

Circle, the parent company of cryptocurrency exchange Poloniex, says it could charge United States users fees and even confiscate users’ entire balances if they do not remove their funds. In a blog post on Dec. 3, Circle warned that U.S. traders have no option but to stop using Poloniex, a policy adopted in preparation for the platform forming its own separate entity. Funds must be taken from accounts by Dec. 16. If a user fails to do so, fees may apply, which in theory can total the entire account balance. The blog post stated: “There are two fees Poloniex US …

Cryptocurrency exchange Poloniex now controls the largest decentralized exchange (DEX) on blockchain network Tron (TRX), official reports state. Confirmed by Tron CEO Justin Sun on Nov. 29, Poloniex will now operate TRX Market under the new name “Poloni DEX.” Poloniex ‘acquires’ decentralized exchange The move comes a month after Poloniex itself spun out from owner Circle to form a new exchange that addressed regulatory problems in the United States. According to Sun, Poloniex “acquired” TRX Market, while it remains unknown what changed hands and what financial value the deal generated. “To maintain the development of TRXMarket over the long term, …

Tron (TRX) founder Justin Sun admitted to being one of the investors that recently acquired cryptocurrency exchange Poloniex from financial technology firm Circle. Sun said he was one of the investors who acquired the trading platform in a livestream published by the official Poloniex Twitter profile on Nov. 12. Furthermore, he noted that the exchange operates independently from his firm, the Tron Foundation. In October, Sun refuted reports suggesting that he is leading an investment group behind the acquisition of cryptocurrency exchange Poloniex. Following the acquisition, Poloniex spun out from Circle as an independent company. During the livestream, Sun claimed …