Category Archives: Binance
Zircuit raises mainnet funding round with participation from Binance Labs, Mirana Ventures, and others – Cointelegraph
George Town, Cayman Islands, 22 July, Chainwire Zircuit, a fully EVM-compatible ZK rollup with AI-enabled sequencer level security, today announced it raised a Mainnet funding round with participation from Binance Labs, Mirana Ventures, Amber Group, Selini, Robot Ventures, Nomad Capital, Borderless Capital, and prominent angel investors including the founders of Renzo, Etherfi, Pendle, Parallel, LayerZero, Axelar, F2Pool, Nonce, KelpDAO, ETHGlobal, Maelstrom, and more. With this new funding, Zircuit will be able to supercharge ecosystem growth and activity on its network, building upon a strong technical foundation and over $2.9 billion in staked assets.
Since 2022, the Zircuit team has built a new L2 network that introduces a revolutionary new approach to onchain security. Zircuit protects dApps and their users from blockchain vulnerabilities through its novel infrastructure that is armored by sequencer-level security and built-in, automated AI techniques to guard against smart contract exploits and malicious actors. The networks hybrid architecture also results in a fast, low-cost, and fully EVM-compatible ZK rollup, offering unparalleled security for users without compromising speed or compatibility.
Bolstered by its strong security infrastructure, Zircuit plans to become a central hub for restaked assets that features unparalleled security and allows users to earn industry-leading yields natively. The landscape of liquid restaking is still nascent and rapidly evolving and new LRT protocols are constantly emerging, making it challenging for even experienced users to track and choose the best and the safest protocols for deploying their capital. Zircuit aims to address this problem by becoming a major liquidity hub for restaked assets (ETH, BTC, LSTs, and LRTs) where users can easily allocate their capital and have peace of mind knowing that funds are deployed to the safest and highest quality protocols.
At Binance Labs, we support projects that are innovating in Web3 and accelerating the blockchain industry. Through its integration of sequencer level security, Zircuit is providing a more secure L2 solution and we look forward to watching it grow and develop further,
Yi He, Co-Founder of Binance and Head of Binance Labs
"Security has been a persistent issue in the crypto space, with breaches occurring almost daily. Zircuit, founded by top security veterans, leads the industry with its best-in-class security architecture. The teams clear growth strategy has led to explosive growth in assets locked since launch," said Erick Zhang, Managing Partner of Nomad Capital. "We are excited to support and continue working with the Zircuit team."
As the web3 space accelerates toward mainstream adoption, Zircuit will empower this growth by providing the necessary infrastructure to onboard the masses. Our years of research into rollups and blockchain security have allowed us to build an L2 network with unparalleled security and scalability. Were proud to have the support of Binance Labs, Mirana Ventures, and our other investors as we approach our first phase of Mainnet and establish Zircuit as a cornerstone in the industry,
Martin Derka, co-founder of Zircuit
Zircuits Mainnet Phase 1 is set to launch in the coming weeks.
To learn more about Zircuit, users can visit zircuit.com or read the developer docs at docs.zircuit.com.
To participate in Build to Earn, users can visit: https://build.zircuit.com/.
To participate in Zircuit Staking, users can visit: https://stake.zircuit.com/.
Zircuit is a ZK rollup with AI-enabled sequencer-level security and parallelized circuits. Built by a team of web3 security veterans and PhDs in computer science, algorithms, and cryptography, Zircuits unique architecture combines the best of both worlds of performance and security. To learn more visit zircuit.com or follow us on Twitter/X @ZircuitL2.
Jessica
Zircuit
This publication is provided by the client. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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BINANCE COIN PRICE ANALYSIS & PREDICTION (July 24) BNB Faces Resistance At $600, Has The Recovery Ended? – NullTX
Amid this weeks drop, BNB halted bullish and slightly took a downturn after facing a key resistance level. The price is now looking weak after shedding roughly a 3% loss since Monday. It still trades in a bullish zone.
The past three weeks saw BNB through an insane 30% increase after correcting lower for a whole month. This increase brought notable buying pressure back into the market, but the price has yet to recover fully.
However, things have slowed down a bit this week following the latest drawdown across the global crypto space. The overall BNB outlook is still very bullish on the macro level, but the bears may gain control again if the short-term selling resurfaces.
Theres a high probability for a bullish continuation if the market locates support above the May-June low. A potential bounce from this low could activate a fresh buy to the top before rallying hard. However, due to the recent reduction in the global market, the price is in favour of the bears.
Taking a close look at the daily price chart, BNBs volume indicator is still on the fall despite a recent price recovery. If the volume continues to flatten, the price will keep dropping until it finds a solid ground.
Now that BNBs supply level is rising again, the target support level to watch for a drop is $560. An extension from there could bring us to the $530 support, followed by Aprils $508 low.
In the meantime, the $605.6 level would continue to serve as a crucial resistance for buying. A push above this level would facilitate a quick surge to the $634 and $660 resistance. Further surge could propel buying to $692 and $725, where the main breakout lies.
Key Resistance Levels: $605.6, $634, $660
Key Support Levels: $560, $530, $508
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Binance Might Throw a Surprise to the Shiba Inu Army This Week – Watcher Guru
Leading cryptocurrency exchange Binance might throw a surprise to the Shiba Inu community this week. The top trading platform posted a picture of Shiba Inu dogs with two oranges on a Binance travel bag. Pawsitively prepped for the next chapter! read the tweet. Binance might be teasing something big and could make an announcement about it shortly.
Also Read: Shiba Inu or Pepe Coin: Which Cryptocurrency Can Reach $0.01 First?
The tweet comes at a time when Shiba Inus lead developer Shytoshi Kussma is on a world tour promoting Shiba Inu. Shytoshi recently visited Japan and will also visit Mumbai city, India. So lets decode what Binances recent tweet means for the SHIB, Bone, and the Leash community.
Also Read: Shiba Inu (SHIB) To Hit 2 Cents, Heres When
Members of the Shiba Inu community are predicting that Binance might announce a listing of Bone and Leash tokens. Oh dear Binance, you teaser. Is that support for Shibarium? Or maybe you will gift the SHIB some delicious Bone and a Leash? Shib army awaits! tweeted a leading community member. Bone already rallied 8% on Tuesday as the speculation of a Binance listing is doing the rounds on social media. The Leash token has also entered the green territory this week.
Also Read: Is Shiba Inus Shytoshi Kusama Elon Musk?
Many other SHIB members commented that the teaser could be about something to do with Shibarium. The speculation brigade is in full force on social media predicting what the Shiba Inu tweet from Binance could mean. The others predict that the tweet could have something to do with Paw themed tokens and not SHIB.
However, we cannot confirm what exactly the Binance tweet means. We will have to wait for an official tweet from Binance that confirms their next course of action. Whether it has to do with Bone, Leash, Shibarium, Paw tokens, or other tokenomics, we will have to wait and watch.
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Binance Might Throw a Surprise to the Shiba Inu Army This Week - Watcher Guru
US lawmakers take action in Congress to free Binance executive in Nigeria – DLNews
Two members of the US Congress have escalated their efforts to free a Binance executive imprisoned in Nigeria on money laundering charges.
On Wednesday, Representative Richard McCormick of Georgia and his fellow Republican, Representative French Hill of Arkansas, filed a resolution with the House Foreign Affairs Committee calling for the immediate release of Tigran Gambaryan.
The resolution provided a detailed history of Gambaryans plight in Nigeria since he was arrested and detained on February 26 after visiting the nations capital, Abuja, to meet with government officials about Binances operations.
The submission also highlighted Gambaryans failing health and the indifference shown by Nigerian officials to his condition despite a court order.
While a resolution does not have the force of a bill, its authors hope it spurs the White House to take action in the case.
Congressman Hill visited Gambaryan last month in prison and reported that the Binance executive was suffering in inhumane conditions.
Nigerian officials rejected the assertion by French and Gambaryans family that he was not receiving proper medical attention.
But on July 5, Justice Emeka Nwite chided the prosecution and prison officials for ignoring a prior order to present Gambaryans medical test report to the defendants representatives.
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Gambaryan collapsed in court at the start of this trial in May and has shown visible signs of ill health in subsequent court appearances, as monitored by DL News.
Responding to the resolution, Gambaryans wife Yuki expressed her appreciation of the lawmakers efforts on her husbands behalf.
I hope the US governments involvement will expedite the process of getting him released. My husband is innocent, he is not a decision-maker at Binance and I hope the Nigerian authorities release him, Yuki said in a statement to DL News.
He needs to be freed right now.
Gambaryans money laundering trial is to resume on July 15, but the proceedings may be hampered by a scheduled holiday for federal judges between mid-July and September.
The Binance executive pleaded not guilty to the charges filed by Nigerias Economic and Financial Crimes Commission that also list his employer, Binance, as a defendant.
Both Binance and Gambaryan also faced a tax-violation indictment, but that case against Gambaryan was dropped because he didnt represent the company in matters tied to the complaint.
Still, the EFCC maintains that it will continue to prosecute the case against both.
Nigerias government is backing the EFCC, with the countrys Information Minister Mohammed Idris having stated that: They [Binance] have committed a crime.
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at osato@dlnews.com.
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US lawmakers take action in Congress to free Binance executive in Nigeria - DLNews
US legislator urges Congress to declare Binance exec hostage of Nigerian government – CoinGeek
Two legislators in the United States have called on Congress to declare Binance executive Tigran Gambaryan a hostage of the Nigerian government if hes not released soon.
Rep. Rich McCormick (R-GA) recently submitted a resolution to Congress on behalf of himself and fellow Republican legislator James French Hill (R-AR), petitioning for swift government action in the Gambaryan case.
The resolution called on the Nigerian government to immediately release the former Internal Revenue Service (IRS) agent detained in March alongside his colleague, Nadeem Anjarwalla. The two were charged with money laundering and tax evasion on behalf of Binance, but the tax charges have since been dropped. Nadeem escaped detention and has been at large since.
Now, McCormick and Hill want the U.S. government to formally declare Tigran Gambaryan as a U.S. citizen wrongfully detained by a foreign government.
They noted that in Nigeria, the courts take a recess from mid-July to September. If Gambaryan is not released by the end of this week, hed be stuck in an Abuja prison for a few more months at least.
Shortly after the resolution was tabled to the House Committee on Foreign Affairs, the Nigerian court handling Gambaryans case announced that it had pushed his trial to October 11.
As they await his release, the U.S. lawmakers demanded that the Nigerian government provide Gambaryan with proper medical care. According to his wife Yuki, Gambaryan contracted malaria and pneumonia while in detention, and they have gone untreated. While appearing for his trial in late May, he collapsed in court and had to be rushed to a hospital.
Hill, who co-sponsored the resolution, visited Gambaryan in Abuja a month ago. He claimed that the Binance executive appeared weak and had lost significant weight.
Tigran must be immediately granted a humanitarian release, the remaining charges dropped, and he must return home to America where he belongs, he stated at the time.
Meanwhile, the Nigerian government has been adamant that Gambaryan must face money laundering charges. The Economic and Financial Crimes Commission has maintained that he has been treated humanely and that all its actions have been within the law.
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US legislator urges Congress to declare Binance exec hostage of Nigerian government - CoinGeek
Pressure Grows in Congress to Treat Crypto Investigator Tigran Gambaryan, Jailed in Nigeria, as a Hostage – WIRED
When Tigran Gambaryan was first invited in February to meet with the Nigerian government in order to settle a dispute with his employer, the cryptocurrency exchange Binance, Nigerian officials detained him against his will, stripped him of his passport, and told him he was a guest of the state. He's since been charged with financial crimes and jailed for months as a criminal suspect.
Pressure is now mounting within the US Congress for the Biden administration to treat him as what his supporters argue he has been all along: a hostage, held illegally by an unaccountable foreign country.
On Wednesday, US congressman Rich McCormick, who represents Gambaryan's district in his home state of Georgia, submitted a resolution to the House Committee on Foreign Affairs that both urges the Nigerian government to release Gambaryan and calls on the US government to recognize that Gambaryan is being illegally detained as a hostage in an effort to extort his employer, Binance. That resolution represents the latest in a series of growing calls from Congress for the White House to step up its pressure on Nigeria to release Gambaryan, a former federal agent who led many of the most significant cryptocurrency-related criminal cases of the last decade during his time as an IRS criminal investigator.
The continued detention of Tigran Gambaryan in Nigeria is a clear violation of his rights, and he is simply being used as a means of extortion by the Nigerian government, McCormick wrote in a statement. We urge Nigeria to immediately release Tigran and provide him with the necessary medical care and due process. The United States Government must do everything in its power to secure the release of Tigran Gambaryan, and all of our citizens wrongfully detained abroad.
McCormick's resolution to push for Gambaryan's release follows an earlier open letter from 16 members of Congress calling on the White House to transfer Gambaryan's case to the Office of the Special Presidential Envoy for Hostage affairs. That letter noted that Gambaryan has suffered from malaria and pneumonia, collapsing in court during one day of his trial, yet has been denied proper care in a hospital. Gambaryan's health and wellbeing are in danger, and we fear for his life, the letter read. Immediate action is essential to ensure his safety and preserve his life. We must act swiftly before it is too late. Two House members, French Hill and Chrissy Houlahan, visited Gambaryan in jail last month and have also called for his release.
Gambaryan and another Binance staffer, Nadeem Anjarwalla, flew to Abuja in late February at the invitation of the Nigerian government after the country's officials accused Binance, where Gambaryan works as head of its investigations and financial crime compliance, of money laundering and contributing to the devaluation of the country's national currency, the naira. But just days into that negotiation, the two men were detained in a government-run guest house against their will.
The situation escalated further when Anjarwalla, who is based in Kenya, escaped during a visit to a mosque for Ramadan prayers. Gambaryan was then criminally charged with tax evasion and money launderingall signs suggest those charges relate to the behavior of Binance, not Gambaryan personallyand moved to Kuje prison, where he has since been held.
Tigran Gambaryan
The charges against Gambaryan are particularly ironic given his track record as a federal agent. Prior to being hired by Binance, which was widely seen as part of the exchange's efforts to clean up its operations' lax compliance and years of alleged money laundering documented in a $4.3 billion settlement with the US government last year, Gambaryan spent a decade leading many of the most significant crypto crime investigations in history. From 2014 to 2017 alone, for instance, Gambaryan identified two corrupt federal agents who had enriched themselves with cryptocurrency from the Silk Road dark-web drug market, helped to track down half a billion dollars worth of bitcoins stolen from early crypto exchange Mt. Gox, helped develop a secret crypto tracing method that located the server hosting the massive AlphaBay dark web crime market, and helped to achieve the takedown of the Welcome to Video crypto-funded child sexual abuse video network.
Gambaryan's supporters point out that his work for the IRS led to the seizure of more than $4 billion dollars, including several of the largest monetary seizures in the history of US criminal justice. Hes done so much good for this country throughout his career, Gambaryan's wife Yuki told WIRED in March. I believe its his turn to get the same amount of support from his country.
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US lawmaker asks Congress to treat Binance exec in Nigeria as a hostage – Cointelegraph
Representative Rich McCormick introduced a resolution to the US Congress calling on lawmakers to consider a Binance executive who has been detained in Nigeria since February as a hostage.
In a July 10 resolution referred to the House Committee on Foreign Affairs, Rep. McCormick claimed the government of Nigeria had wrongfully detained Binance executive Tigran Gambaryan in order to extort the cryptocurrency exchange.
He called on the US government to formally declare Gambaryan as a hostage and take steps to ensure the Nigerian government releases him and provides medical care if the case was not resolved by mid-July.
Tigrans detainment has been ongoing since February of 2024, the court typically takes a recess from mid-July to September, said Rep. McCormick. [I]f Tigrans case is not resolved by mid-July, he may remain in detention for an even longer undue period of time.
Rep. McCormick submitted the resolution on behalf of himself and Rep. French Hill, who visited Gambaryan in prison on June 20. The call for action echoed responses from more than 100 federal prosecutors and agents asking the State Department to secure Gambaryans release in June.
Authorities initially charged Gambaryan and his colleague Nadeem Anjarwalla with tax evasion and money laundering in February after the two traveled to Nigeria as representatives of Binance. Anjarwalla escaped custody in March and reportedly fled to Kenya, but he is expected to be extraditedto Nigeria.
In June, Nigerias tax authority dropped the tax evasion charges, but the Economic and Financial Crimes Commissions money laundering case was ongoing at the time of publication. A spokesperson for Gambaryans family said he had experienced significant health problems during his imprisonment, including pneumonia, malaria, and various aches and pains.
Related: Binance vs. Nigeria: A timeline of events
Gambaryans wife, Yuki, launched a petition to bring her husband back to the US, which was nearing its goal of 5,000 signatures at the time of publication. She reported being in touch with Binance staff and the lawyers representing her husband in the money laundering case but not officials with the Nigerian government.
In my eyes, it is evident any issues between Binance and the Nigerian authorities can and should be resolved without Tigran being caught in the middle, Yuki told Cointelegraph.
Magazine: Meet the hackers who can help get your crypto life savings back
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US lawmaker asks Congress to treat Binance exec in Nigeria as a hostage - Cointelegraph
US lawmakers claim Binance exec arrested in Nigeria is a hostage – ReadWrite
Representatives Rich McCormick and French Hill have introduced a resolution to the House Committee on Foreign Affairs, calling on the United States government to classify the detention of leading crypto exchange Binance executive Tigran Gambaryan in Nigeria as a hostage situation.
The resolution, officially submitted on Wednesday by McCormick and co-sponsored by Hill, demands the immediate release of Gambaryan, a U.S. citizen. It highlights concerns about Gambaryans declining health in Kuje Prison and urges the U.S. government to declare him as wrongfully detained by a foreign government.
The congressmen warn that if Gambaryans case isnt resolved by mid-July, his detention could be prolonged due to the courts typical recess until September.
Gambaryan, Binances head of financial crime compliance and a former IRS agent, was detained in Nigeria in February along with colleague Nadeem Anjarwalla. They face money laundering charges, though tax-related accusations have been dropped. Anjarwalla escaped custody in March.
The resolution emphasizes Gambaryans decade-long service with the IRS, during which he helped seize over $4 billion in illicit funds for the U.S. government. Rep. Hill, who visited Gambaryan in prison last month, expressed concern about the executives status:
After visiting recently with Tigran at Kuje Prison in Nigeria, I noted that his health is deteriorating. I am proud to join my friend and Mr. Gambaryans Congressman, Rep. Rich McCormick, in leading this resolution and sending a signal to the Nigerian government that he must be immediately granted a release, the remaining charges dropped, and return home to America where he belongs.
Both Hill and McCormick view the detention as a violation of Gambaryans rights and a serious injustice. McCormick said:
The continued detention of Tigran Gambaryan in Nigeria is a clear violation of his rights and a grave injustice. We urge the Nigerian government to immediately release him and provide him with the necessary medical care and due process rights. The United States Government must do everything in its power to secure the release of one of our citizens wrongfully detained abroad.
This resolution follows a June letter signed by 16 members of Congress, urging the White House to address Gambaryans imprisonment urgently, stressing the need for swift action to ensure his safety and preservation of life.
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US lawmakers claim Binance exec arrested in Nigeria is a hostage - ReadWrite
Shiba Inu: Binance Cryptic Tweet Stirs Speculations of Upcoming Support For SHIB – The Crypto Basic
Binance, the worlds largest crypto exchange by 24-hour trading volume, shares a cryptic message that got members of the Shiba Inu community anticipating Shibarium support.
The image, captioned pawsitively prepped for the next chapter! featured a dog staring at two oranges placed on a traveling luggage. The Binance tweet triggered speculations among Shiba Inu community members, who attempted to decode its meaning.
According to some SHIB enthusiasts, the cryptic message suggests that Binance could be planning to support Shiba Inus Layer-2 scaling solution, Shibarium. Binance potentially supports Shibarium and would enable users to deposit and withdraw assets via the L2 blockchain.
Notably, popular community member Sand was among those making this speculation. The X user also hinted at the possibility of Binance offering incentives relating to Shiba Inu ecosystem tokens, BONE, and LEASH.
Also, Japanese-based Shiba Inu community figure Kuro suggested that they understand the message conveyed by Binance. In an X post today, Kuro redesigned the image accompanying the Binance tweet to include Shibarium, BONE, and LEASH logos.
Besides Shiba Inu, fans of other dog-themed tokens claimed that the exchange could be planning to support their favorite tokens, including Pawswap (PAW).
The development comes as Shiba Inu enthusiasts continue to urge Binance to support SHIB burns. It is no longer news that the community has hinted at plans to burn SHIB from leading crypto exchanges, including Binance and Coinbase.
On July 9, popular community figure Lola specifically asked Binance CEO Richard Teng to extend the exchanges ongoing LUNC burn support to SHIB. Lola suggested that the exchange should burn SHIB using a portion of the tokens spot and margin trading fees.
The exchange has not responded to this request. Moreover, it is unclear whether the recent cryptic message relates to its plans to burn SHIB using a fraction of its trading fees.
However, Binances support for the SHIB burn could bolster the number of tokens permanently removed from circulation.
Data from Shibburn shows that 410,727,570,872,968 (410.72 trillion) SHIB have been destroyed via burns, leaving Shiba Inu with a total supply of 589.27 trillion tokens. The burn rate is up 30.4% over the past 24 hours to 844,269 SHIB.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Shiba Inu: Binance Cryptic Tweet Stirs Speculations of Upcoming Support For SHIB - The Crypto Basic
Binance, KuCoin and Bybit Lead the Charts as Top Regulated CEXs in TokenInsight Report – PR Newswire
VICTORIA, Seychelles, July 10, 2024 /PRNewswire/ -- The rising adoption ofcryptocurrency is driving significant technical innovations and investment opportunities. However, this rapid expansion also brings substantial risks to the crypto industry. TokenInsight's latest report analyzes the regulatory compliance of the top 10 global cryptocurrency exchanges, with KuCoin emerging as a leader.
According to the report, Binance leads the pack in securing regulatory approvals, followed closely by KuCoin, highlighting their commitment to obtaining necessary licenses across various jurisdictions. In terms of global reach, HTX covers the most legal and regulated countries, with KuCoin coming in second, demonstrating its dedication to operating within legal frameworks worldwide. KuCoin also stands out for implementing the lowest daily withdrawal limits among top exchanges, showcasing its stringent user security measures and regulatory compliance.
Moreover, KuCoin excels in anti-money laundering (AML) efforts, collaborating with the highest number of external vendors, including Chainalysis, Cybersource, Sumsub and etc, to bolster its AML strategies. In law enforcement cooperation, Binance addressed over 50,000 and 52,000 requests in 2022 and 2023, respectively, while KuCoin ranked second, handling over 4,100 and 7,200 requests during the same period. Additionally, both Binance and KuCoin prioritize user education, with Binance setting a high standard in compliance transparency and KuCoin running numerous campaigns to promote informed trading practices.
The TokenInsight report emphasizes the importance of security and regulatory compliance as the cryptocurrency industry continues to grow. Exchanges like Binance, KuCoin, and Bybit are leading the way by implementing rigorous compliance measures and fostering a secure trading environment. Their efforts not only protect users but also contribute to the broader acceptance and legitimacy of cryptocurrency in the global financial landscape.
About KuCoinLaunched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks one of the top 5 crypto exchanges. KuCoin was acclaimed as "One of the Best Crypto Apps & Exchanges of June 2024" by Forbes Advisor and has been included as one of the top 50 companies in the "2024 Hurun Global Unicorn List". Learn more athttps://www.kucoin.com/.
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Binance, KuCoin and Bybit Lead the Charts as Top Regulated CEXs in TokenInsight Report - PR Newswire