Visa And Mastercard Distancing Themselves From Binance Unlikely to Hurt the Crypto Exchange: Experts
The decision comes only weeks after Binance has been grappling with multiple legal challenges in the U.S.
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The decision comes only weeks after Binance has been grappling with multiple legal challenges in the U.S.
Binance has cut ties with five sanctioned Russian banks that were listed on the exchange’s peer-to-peer service to let users transfer funds in rubles, the country’s native currency.
The crypto exchange is conducting a “risk management initiative” targeting some crypto projects with a relatively small market capitalization or whose tokens form lower-liquidity trading pairs.
Changpeng Zhao ,CEO of Binance, at Consensus Singapore 2018 (CoinDesk)
BNB, formerly known as Binance Coin, dropped to as low as $204, lowest since late June 2022.
Crypto exchange Binance has decided to shut down its buy-and-sell service Binance Connect, formerly known as Bifinity, just one year after its launch, the company said in a statement.
The exchange bucked the general market trend that saw a decline in trading volume for most centralized exchanges.
The price of bitcoin (BTC) and Binance’s BNB token immediately fell following the report.
Binance has stopped offering certain benefits to its employees on June 19 as the company’s profits continue to decline, according to former employees and internal company messages viewed by the Wall Street Journal.
Coinbase and Binance have a new precedent to cite in court – if the decision survives potential appeal. That’s no sure thing, lawyers said.