9/3/2023 0 Comments Binance news us![]() ![]() "Brian's extensive experience as a leader in financial regulation and the crypto industry will help Hashdex meet our core mission of giving investors simple and secure access to the developing crypto ecosystem," he added.ĭespite the recent market turmoil, Brooks was quoted as saying that "cryptoassets are changing the economics of nearly every industry across the globe. In a news release, Hashdex co-founder Marcelo Sampaio said Brooks' "proven ability to push forward thoughtful, innovation-driven public is much needed at this time." 1 day ago &0183 &32 July 25, 2023, 4:50 PM PDT. Just this week, Ritchie Torres, the New York Democrat Congressman openly accused Securities and Exchange Commission chairman Gary Gensler of being "intent on sabotaging the industry." regulators are embarking on a brutal clampdown. He will also be tasked with bridging the gap between the crypto ecosystem and traditional finance-at a time when U.S. As well as acting as Valor's representative on the board, the entrepreneur is set to provide counsel on global regulation "to accelerate Hashdex's continued growth in global markets"-and help institutional investors securely gain exposure to digital assets. Comptroller of the Currency.īrooks has most recently served as a partner in Valor Capital Group, which has invested in Hashdex. The suggestion from Zhao is that users are looking to convert their PAX and BUSD into USDC in order to withdraw their funds from Binance.His ill-fated stint in the role wasn't mentioned in Hashdex's news release, which instead decided to focus on his time as Coinbase's chief legal officer, and acting U.S. While Binance may be the most popular cryptocurrency exchange out there, that doesn’t mean it’s the only one. Zhao said that any transfers into USDC from the stablecoin known as PAX, as well as Binance's own token BUSD, require routing through a bank based in New York which is not yet open. Which Should You Use Binance is arguably the most prominent cryptocurrency exchange, and its parallel platform, Binance.US, is equally competitive yet exclusive only to US-based residents. If traders are withdrawing USDC from Binance, it could be to move it onto another platform. An investigative report has suggested that major cryptocurrency exchange Binance was behind the transfer of roughly 400 million in funds from a Binance.US account to a trading firm. Binance, which does not reveal the location of its core exchange, has processed at least 10 billion in payments for criminals and companies seeking to evade U.S. ![]() USDC is used by investors to trade in and out of different cryptocurrencies without the need to move money back into U.S. US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. A pause in a crucial type of trading One of the main roles of a crypto. Here’s what the announcement means for customers. The banking partner involved is Signature Bank, according to a Jan. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance confirmed that the change wouldn’t impact corporate accounts. government.īinance said earlier on Tuesday it had "temporarily paused" USDC withdrawals while it does a "token swap." This involves swapping one cryptocurrency for another without the need for fiat currency.Ĭhangpeng Zhao, CEO of Binance, tweeted that the exchange is seeing an increase in withdrawals of USDC, a cryptocurrency known as a stablecoin because it is pegged one-to-one with the U.S. The changes to Binance.US will take full effect as early as Tuesday. Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance.US is the crypto trading platform for US residents where you can buy, sell, and trade cryptocurrencies and alt coins with some of the lowest fees in. The move came as investor concerns grow about Binance's stability following the collapse of rival exchange FTX as well as a report of a potential criminal investigation from the U.S. Binance, the giant cryptocurrency exchange accused of mishandling customer funds, used two American banks to move billions of dollars around the world, the Securities and Exchange. 21, but would continue to support and redeem the tokens. Personal Loans for 670 Credit Score or Lower Paxos said in a statement that it would stop issuing new Binance USD, which is backed by traditional cash and U.S. ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit A spokesperson for the global Binance exchange, which did not respond to Reuters questions for the story on Thursday, told crypto news outlet CoinDesk that the transfers were 'a Binance.US issue. ![]()
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