Category Archives: Binance
Binance.US Appoints NY Fed Chief Grant Martin To Board – Cryptonews
Last updated: April 16, 2024 17:27 EDT | 2 min read
Grant Martin, the former Chief Compliance and Ethics Officer at the Federal Reserve Bank of New York, is joining the board of Binance.US, the crypto exchange announced in a Tuesday blog post.
According to the companys announcement, Martin worked at the Fed for over 30 years, serving in his aforementioned role from 2005 to 2022.
Most recently, Martin was the Global Head of Regulatory Affairs & Integrity at crypto-asset firm JST Digital.
The addition of a director of Martins caliber to the Binance.US Board reflects the strength of our business and demonstrates our commitment to maintaining the highest standards of compliance and integrity, said Binance.US Interim CEO Norman Reed. We look forward to benefiting from his expertise and counsel as we continue to navigate the current regulatory environment and position Binance.US for long-term growth and success.
The latest addition to the Binance.US board comes just months after the worldwide digital asset exchange found itself in hot water with U.S. regulators.
In November 2023, former global Binance CEO Changpeng Zhao was charged with failing to instill an anti-money laundering program up to par with the Bank Secrecy Act, and subsequently agreed to step down from his role at the crypto exchange.
As part of an agreement with federal authorities, Binance and CZ were also ordered to pay $4.3 billion in restitution to cover civil regulatory actions.
The hiring of Martin would seemingly help Binance circumvent further regulatory issues, particularly given the former Fed officials track record with implementing anti-money laundering programs.
It is an honor to join the Binance.US Board and be part of an organization built from the ground up to connect Americans to the digital asset industry in a safe, responsible, and compliant manner, said Martin. The American digital asset industry is at an inflection point, and I am excited to help guide the future of one of the countrys most influential and customer-centric crypto platforms.
Zhao is currently facing a maximum penalty of ten years in U.S. prison, however, his actual sentence will largely depend on sentencing guidelines and the courts discretion. His sentencing is currently scheduled for April 30th.
Martins appointment to Binance.US could signal an internal shift towards regulatory compliance for the global crypto exchange as they seek to recover public trust following the legal scandal.
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Binance.US Appoints NY Fed Chief Grant Martin To Board - Cryptonews
Nigeria Government Want Extradition for Binance Exec Found in Kenya: Report – CryptoPotato
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Nigeria Government Want Extradition for Binance Exec Found in Kenya: Report - CryptoPotato
Option2Trade (O2T) Trends As New Binance (BNB) Coin After Rallying 500% and Releasing Platform ‘Preview’ – Crypto Reporter
Option2Trade (O2T) represents such a paradigm shift, rapidly emerging as a significant contender against the established dominance of Binance (BNB). Following a remarkable 500% rally and the strategic release of its platform preview, O2T has captivated the markets attention, drawing parallels to the early days of Binance (BNB) when it was itself an upstart rising rapidly through the ranks.
A Meteoric Rise to Prominence
The journey of Option2Trade (O2T) from a fledgling startup to a potential market leader is nothing short of spectacular. Initially pegged as just another entrant in the crowded space of crypto exchanges, the trajectory of Option2Trade (O2T) began to mirror historical rises seen by giants like Binance (BNB). This resemblance is not coincidental but a result of deliberate strategic initiatives and technological prowess. Option2Trade (O2T)s platform leverages cutting-edge blockchain technology with a user-centric interface, echoing the early innovations that Binance (BNB) introduced to capture the market.
Strategic Platform Preview Release
Option2Trade (O2T) recently unveiled a preview of its trading platform, a move seen as both bold and strategic. This early glimpse not only allowed users to familiarize themselves with Option2Trade (O2T)s capabilities but also served to reassure potential investors of its robust infrastructure and future readiness. Similar to how Binance (BNB) disrupted the market with advanced trading features and low transaction fees, Option2Trade (O2T) is positioning itself as the next evolution in trading platforms, focusing on security, scalability, and user engagement.
O2T vs. Binance (BNB): A Comparative Study
When comparing Option2Trade (O2T) with Binance (BNB), several key factors emerge that highlight the competitive potential of O2T. Like Binance (BNB) at its inception, O2T is not just riding the wave of existing crypto trends but seeking to create its own. It introduces AI-driven analytics and decentralized finance (DeFi) integrations that cater to both seasoned traders and newcomers, a strategy that mirrors Binance (BNB)s approach of continual innovation and adaptation.
The platforms architecture promises enhanced transaction speeds and improved reliability, issues that have occasionally hampered even the most established platforms like Binance (BNB). Moreover, Option2Trade (O2T) emphasizes regulatory compliance and security measures, learning from the challenges and setbacks faced by other exchanges, including Binance (BNB).
Future Outlook and Market Projections
The potential of Option2Trade (O2T) extends beyond just its technological offerings. Analysts predict a bright future, with potential gains reaching up to 2000% post-Tier-1 listing. Such growth is contingent upon maintaining momentum and capturing a significant portion of market share from Binance (BNB), which continues to lead the sector in terms of volume and user base.
As the crypto market continues to mature, the ascendancy of platforms like Option2Trade (O2T) is crucial for the next wave of innovation and user engagement. Whether O2T will sustain its initial success and truly rival Binance (BNB) remains to be seen. However, its promising start, strategic market entries, and robust platform suggest that O2T may indeed be on the path to becoming a new beacon in the cryptocurrency exchange landscape.
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Binance Executive Nadeem Arjarwalla Traced to Kenya After Escape from Nigerian Custody – Blockchain.News
Nadeem Arjarwalla, a senior official of Binance, escaped from detention in Nigeria, and the Nigerian authorities was able to track him down in Kenya . Arjarwalla is charged with participating in operations that caused major disruptions in the Nigerian naira exchange rate market .
Arjarwalla's cover was exposed after he arrived in Kenya, and the Nigerian government moved quickly to arrange for his extradition so he could face the accusations made against him. To speed up the extradition procedure, the Nigeria Police Force, the Kenyan Police Service, the International Criminal Police Organisation (Interpol), and the Economic and Financial Crimes Commission (EFCC) are collaborating.
The Nigerian government's cooperation with foreign law enforcement agencies, as well as the governments of the United States, the United Kingdom, and Kenya, is indicative of their resolve to repatriate Arjarwalla to Nigeria. Ola Olukoyede, the chairman of the EFCC, said that the agency is collaborating closely with these organisations to guarantee Arjarwalla's smooth extradition.
Concerns about the security protocols in place have been highlighted by Arjarwalla's escape from prison in Nigeria. The troops tasked with keeping an eye on Arjarwalla have been taken into custody by the Nigerian government, which is also carrying out extensive inquiries into the situation. The continuing investigations are being conducted by special investigators from a variety of security and intelligence organisations, including the National Intelligence Agency, the Department of State Services, the Police, the EFCC, and the military.
Arjarwalla and Binance Holdings Limited face accusations of tax evasion, currency speculation, and money laundering, with an estimated $35.4 million in total at stake. The Office of the National Security Adviser has handed over case management to the Nigerian government, and Tigran Gambaryan, Arjarwalla's partner, is being held by the EFCC.
Arjarwalla, Binance, and Gambaryan will all be charged in absentia, according to sources with direct knowledge of the case. In addition, Binance Holdings Limited, Arjarwalla, and Gambaryan have been charged by the Nigerian government for their failure to register with the Federal Inland Revenue Service and pay applicable taxes.
The Nigerian government's campaign against individuals accused of financing terrorism and money laundering includes the extradition procedure as a key measure. The government's commitment to fighting financial crimes and protecting the integrity of Nigeria's financial system is shown by its cooperation with foreign law enforcement authorities and its will to bring Arjarwalla back to his home country.
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Binance Executive Nadeem Anjarwalla Traced to Kenya Amid Nigerian Charges – Blockonomi
In a significant development, the Nigerian government has successfully traced the whereabouts of Nadeem Anjarwalla, Binances regional head for Africa, who fled the country on March 22 amidst charges of tax evasion and money laundering leveled against him, the crypto exchange, and another executive, Tigran Gambaryan.
According to sources within the Nigerian presidency, Anjarwalla has been located in Kenya, and authorities are now working closely with Interpol and Kenyan law enforcement to secure his extradition back to Nigeria.
The collaborative effort, codenamed Op Gen. Cash Integrity, involves the Economic and Financial Crimes Commission (EFCC), Interpol, and the Nigerian and Kenyan Police Forces.
Anjarwalla, along with Binance and Gambaryan, faces a five-count charge ranging from tax evasion to fiscal speculation, with the primary allegations centered around the misappropriation of $35.4 million in public funds.
The Naira-Binance conversion feature is also under investigation, as Binance is accused of undermining the stability of Nigerias foreign exchange market.
Reports suggest that Anjarwalla managed to flee Nigeria using a Kenyan passport, while his United Kingdom passport remained in the custody of Nigerian authorities. Immigration officials are now investigating how he obtained the Kenyan passport without other travel documents.
Meanwhile, Tigran Gambaryan, Binances head of financial crime compliance, remains in Nigerian custody after being detained in late February 2024. Gambaryan has pleaded not guilty to the charges, and his wife has launched a petition calling for his release and return to the United States.
Binance has also appealed for Gambaryans acquittal, asserting that he held no decision-making power in the company. His case has been adjourned until April 19 at the request of the Federal Inland Revenue Service (FIRS).
The case highlights the growing scrutiny on cryptocurrency exchanges and the challenges they face in navigating various regulatory environments. The Nigerian governments crackdown on suspected money launderers and terrorism financiers has led to allegations that some individuals were using the Binance platform for criminal activities, including money laundering, terrorist financing, currency speculation, and market manipulation.
The developments in Nigeria follow Binances recent guilty plea in the United States, where the exchange agreed to pay $4.3 billion to settle criminal money laundering charges. Binances founder and CEO, Changpeng Zhao, also pleaded guilty and agreed to resign, with his criminal trial postponed to April 30, 2024, by a U.S. court.
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Binance Executive Nadeem Anjarwalla Traced to Kenya Amid Nigerian Charges - Blockonomi
Fleeing Binance Executive Traced to Kenya, Nigeria Pursues Extradition – Cryptonews
Last updated: April 15, 2024 03:12 EDT | 2 min read
The Nigerian government has traced the whereabouts of Nadeem Anjarwalla, a high-ranking executive of Binance, to Kenya.
Anjarwalla had managed to escape custody in Nigeria, but his cover was blown upon his arrival in Kenya, according to areport from Nigerian media outlet The Punch.
The report also said there have been intensified discussions between the Economic and Financial Crimes Commission (EFCC), the International Criminal Police Organization (INTERPOL), the Nigeria Police Force, and the Kenyan Police Service, aimed at expediting Anjarwallas extradition.
We have found him. We know where he is. He is in Kenya, and were working with the authorities to bring him back to Nigeria, one source told the media outlet.
Another source, closely connected to the matter, has confirmed the ongoing joint efforts between the Nigerian government, security agencies, Kenyan authorities, and INTERPOL to ensure Anjarwallas return to Nigeria to face the charges against him.
The EFCC Chairman, Ola Olukoyede, confirmed in the agencys March edition of the EFCC Alert bulletin that the commission was working in partnership with INTERPOL, the United States Federal Bureau of Investigation (FBI), the governments of the United Kingdom, Northern Ireland, and Kenya to extradite Anjarwalla.
The charges against Binance Holdings Limited and its chief executives, Tigran Gambaryan and Nadeem Anjarwalla, include tax evasion, currency speculation, and money laundering amounting to $35.4 million.
Court documents reveal that charges were filed against Binance Holdings Limited, Tigran Gambaryan, and Nadeem Anjarwalla (now at large) on March 28, 2024, before the Federal High Court of Nigeria in Abuja.
The charges include engaging in specialized financial business without a valid license, conducting business as a financial institution without authorization, unlawful negotiation of foreign exchange rates, conspiracy to conceal the origin of illicit funds, and money laundering.
Additionally, on March 22, the Nigerian government filed another four-count charge against Binance Holdings Limited, Anjarwalla, and Gambaryan, accusing them of offering services to subscribers on their platform without registering with the Federal Inland Revenue Service and failing to pay relevant taxes.
Last week, detained Binance executive Tigran Gambaryanpleaded not guiltyto four counts of money laundering charges in Nigeria.
In his defense, Gambaryan emphasized that he should not be held accountable for Binances activities in Nigeria, as he does not possess decision-making authority in the companys business operations.
His lawyer, Chukwuka Ikuazom, argued that Gambaryan could not enter a plea on behalf of his escaped colleague who was also served with charges.
However, Judge Emeka Nwite rejected Gambaryans defense argument and ruled that Gambaryan acted as Binances representative during previous trips to Nigeria, citing local laws.
A person who has no physical presence in Nigeria but has a physical agent in Nigeria can be duly served through that agent.
As reported, Gambaryanscase was adjourneduntil April 19, but according to recent reports, the hearing for bail consideration has been further adjourned to April 18.
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Fleeing Binance Executive Traced to Kenya, Nigeria Pursues Extradition - Cryptonews
Ethereum Rebounds Above $3,150 After Binance Whale Activity – Crypto Times
After briefly dipping below $3,000 due to the Israel-Iran conflict, Ethereums price has bounced back strongly, surpassing $3,150. This resurgence is fueled by whales buying significant amounts of ETH from exchanges during price dips.
One notable transaction involved a withdrawal of 16,300 ETH worth $51.1 million from Binance to a wallet linked with Matrixport. This adds to previous withdrawals totaling 67,286 ETH valued at $228.33 million since March 29, indicating strategic moves in the crypto market.
Another major player acquired 1,000 ETH worth $3.15 million during the market downturn, adding to their total holdings of 8,300 ETH worth $25.12 million.
Long-term investors also adjusted their holdings, selling off 55,368 ETH worth $204 million from the recent peak. However, during the latest dip, only 31,165 ETH worth $101.4 million were sold from long-dormant supplies.
The reduction in selling pressure by $104 million between price extremes could positively impact Ethereums price trend in the near future, especially if Bulls manage to push the price above $3,200.
Also Read: Will Ethereum Reach $10,000 After Bitcoin Halving 2024?
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Ethereum Rebounds Above $3,150 After Binance Whale Activity - Crypto Times
Crypto apps get bull treatment in Q1: Binance tops the list – Cointelegraph
In the first quarter of 2024, Binances mobile app emerged as a leading platform in the fintech space, recording over 6.3 million downloads, driven by the crypto markets resurgence and events like the approval of spot Bitcoin ETFs.
In the wake of the first quarter of 2024, the crypto landscape continues to surge, punctuated by the price of Bitcoin (BTC) reaching a record high of over $73,600 on March 14.
Mobile applications have emerged as the primary gateway for the majority of crypto users, serving as vital tools for engagement, trading and access to the crypto ecosystem. The prevalence of mobile apps underscores a significant shift toward mobile-centric interactions, setting the stage for a deeper, more intuitive connection with the digital finance ecosystem.
Through the convenience of their mobile phones, users can pick from a myriad of different digital asset trading platforms and applications. Data from the first quarter of 2024 shows that global crypto exchange Binance has emerged as a frontrunner in digital asset-focused apps.
Binances mobile app was downloaded over 6 million times in the first quarter of 2024. Source: Binance
Data from digital analytics firm Sensor Tower reveals that the Binance mobile app was downloaded more than 6.3 million times in the first three months of 2024, surpassing its closest competitor by over 21%. Additionally, increasing inflows into Binance pushed the value of user funds on the platform past the $100 billion mark in March.
The significant number of downloads is attributed to several factors, including the overall resurgence of the crypto market, driven by events such as the approval of spot Bitcoin ETFs in the United States and the anticipation surrounding Bitcoins upcoming halving event.
The Binance apps user-friendly design and comprehensive suite of features contribute to its popularity. The app offers a range of services designed to cater to both newcomers and experienced users.
Built on the foundation of Binances user-focused culture, our app is designed to make navigating the crypto world a breeze, even for newcomers, a blog post on Binance reads. Everyone, anywhere, no matter how much they know about cryptocurrencies and financial markets, can open a Binance account using our mobile application in a matter of minutes.
The value of funds Binance holds on behalf of its users exceeded $100 billion as of March 18. Source: Binance
Upon completing the account setup and identity verification process, users gain access to a range of Web3 services offered by Binance. These services encompass spot and peer-to-peer (P2P) trading, digital payments, a marketplace, investment products, Binance Squares social media feeds and a Web3 wallet.
At the end of last year, Binance also released a Web3 wallet that is directly accessible on the Binance app. Emphasizing the companys attention to user accessibility, Binance shared how its priority is to ensure users can explore Web3 in a user-friendly and protected environment.
The platform boasts a global user base of over 186 million, offering 1,800 trading pairs and over 400 digital assets. The level of engagement Binance receives suggests user confidence in the platforms security measures and overall reliability.
The substantial download figures for the Binance app in early 2024 underscore the growing interest in digital assets and the increasing crypto adoption. The platforms performance indicates broader trends within the industry, reflecting both the expanding user base and the potential benefits of this growing demand.
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Crypto apps get bull treatment in Q1: Binance tops the list - Cointelegraph
Analyzing Investment Opportunities: Bitcoin Halving and Its Influence on Binance Coin (BNB), Dogecoin (DOGE), and … – Analytics Insight
As the cryptocurrency market continues to captivate investors with its volatility and potential for substantial gains, attention is drawn to three notable assets: Binance Coin (BNB), Dogecoin (DOGE), and Furrever Token (FURR). While Binance Coin showcases resilience amid market fluctuations, Dogecoin maintains its status as a beloved meme coin, and Furrever Token emerges with promises of a remarkable 15X increase post-presale. With each asset boasting unique features and market dynamics, investors eagerly anticipate how these coins will fare in the evolving crypto landscape.
With Binance Coin (BNB) currently priced at $555.30, experiencing a marginal 1% increase since yesterday, investors eagerly anticipate its next move. Despite this modest uptick, BNB remains down by 5% from the previous week. Over the last 24 hours, BNB has seen a 4% rise, indicative of potential market shifts. However, the prevailing low volume suggests a lack of clear direction, leaving both bullish and bearish sentiments in balance. As BNB treads cautiously, trading sideways, it accumulates momentum for a decisive movement. Presently, the price action suggests a pattern of consolidation within the $540-$600 range, signaling a period of uncertainty in the short term. Amidst this backdrop, investors closely monitor BNBs trajectory, which is poised for potential breakthroughs or further stabilization in the days ahead.
Dogecoin (DOGE) has retraced to around $0.1523, experiencing a slight decline of 2.5% since yesterday. However, recent market dynamics have brought renewed optimism as DOGE returns to the $0.16 range following Bitcoins resurgence, which has propelled altcoins to gain over 5%. The crypto markets rebound from recent lows has provided short-term profit opportunities for coins recovering from the bottom.
According to IntoTheBlock data, approximately 85% of Dogecoin addresses are currently in profit. However, recent fluctuations have pushed around 12% of holders into a loss. Amidst this scenario, patient investors await signs of a potential uptrend, hoping for weakened selling pressure to pave the way for new highs.
Encouragingly, despite the high percentage of profitable investors, there has been an increase in DOGE withdrawals from exchanges. This uptick suggests reduced selling pressure as investors opt to accumulate rather than sell. The recent surge in withdrawals indicates that investors may be aligning their strategies with medium and long-term goals. In the past seven days alone, over 110 million DOGE more than usual has been withdrawn from exchanges to wallets, reflecting a shift towards accumulation and potential optimism for the future.
Furrever Token (FURR) emerges as a promising cryptocurrency project, blending innovation with the universal appeal of adorable feline imagery. Positioned to revolutionize the crypto space, Furrever Token transcends conventional use cases by infusing the ecosystem with a delightful dose of cuteness. With its mission to foster a warm and engaging community centered around the lighter side of crypto, Furrever Token introduces a user-friendly platform adorned with cute cat-themed stickers, emojis, and visuals.
As the project nears the completion of its presale stages, investors are drawn to the potential for significant returns, with projections indicating up to 15X growth post-presale. Currently priced at $0.00048, Furrever Tokens expected surge after the presale presents an enticing investment opportunity. Already garnering substantial interest, Furrever Token has raised nearly $800,000, signaling robust investor confidence. Moreover, with meticulous attention to security and compliance, including smart contract audits and team token lock-ups, Furrever Token assures its community of a safe and enduring investment environment.
Supported by an active and engaged community of over 4,000 organic members on Telegram, Furrever Token epitomizes community-driven growth and legitimacy. With transparent communication channels and dedicated moderators ensuring swift issue resolution, investors are reassured of Furrever Tokens commitment to transparency and integrity. With the presale swiftly progressing toward its conclusion, savvy investors are encouraged to seize the opportunity to partake in Furrever Tokens journey toward fostering joy and profitability in the crypto landscape.
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