Tag: Binance

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WazirX CEO Asks CZ To Reveal Binance Parent Entity

The war of words between Binance CEO Changpeng Zhao and WazirX CEO Nischal Shetty reached new heights on Saturday. The heads of both cryptocurrency exchanges go back and forth blaming each other for being in complete control.

Binance Has Not Disclosed Parent Entity WazirX Claims

In the new attack, the CEO of WazirX reported that the deal between the two exchanges involved the parent company of Binance. He mentioned that after reading media reports about the structure of the world’s largest cryptocurrency exchange, they asked about it.

However, WazirX received some mixed responses about the parent entity. Nishcal claimed that Binance said that it is restructuring. He mentioned that many months have passed and his team is still waiting for the parent entity of Binance.

Nischal Shetty wrote and asked Can Binance to name the controlling entity for him. However, he added that the original deal included the sale of WazirX Technology (IP). Later, the same technology was licensed to Zanmai by Binance for the INR market.

He highlighted that after the license, Binance is operating cryptocurrency trading with cryptocurrency deposits and withdrawals. Meanwhile, Zanmai is operating INR-Crypto trading with INR deposits and withdrawals.

Nischal refutes accusations of lack of cooperation

Earlier, CZ in a tweet mentioned that Binance requested to transfer the source code, implementation and system operations of the Indian cryptocurrency exchange in February 2022. He mentioned that WazirX rejected this and that Binance has no control over the systems.

Binance Chief even claimed that WazirX did not cooperate with them and the same thing is happening in ED situations as well.

However, the CEO of WazirX clarified that in February, the Binance team was looking to take control of Zanmai. If CZ still wants to gain control of Zanmai, he can easily acquire shares. He refuted CZ’s claim of non-cooperation and stated that they have been working with ED for the past 7 days. They sent all the necessary data requested by the agency.

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Binance Eliminates Bitcoin Trading Fees on 5th Anniversary

The world’s largest cryptocurrency exchange will eliminate bitcoin spot trading fees effective July 8, as it celebrates its fifth year of operations.

Binance will eliminate bitcoin trading fees on its global platform to celebrate its fifth anniversary.

The move by the world’s largest cryptocurrency exchange comes on the heels of a similar strategy adopted by its US subsidiary, Binance.US. At the end of last month, the US company eliminated fees for spot bitcoin trading, as it sought to increase its presence in the country and generate competition. Shares of American rival Coinbase took a hit after the feature was announced.

Binance’s move covers more ground than its American counterpart. The global exchange said in a press release on Wednesday that from July 8, 2022, users will be able to trade fee-free spot BTC in 13 pairs, between fiat and stable currencies, including the euro and pound sterling. , as well as both. Most popular stablecoins on the market: USDT from Tether and USDC from Circle. Traders can get the benefit of reduced fees with US Dollars only on Binance.US.

“In keeping with our user-first philosophy, Binance has always strived to offer the most competitive fees in the industry,” Binance Founder and CEO Changpeng Zhao said in a statement. “At its core, Binance is an inclusive platform that takes accessibility into account. Removing trading fees on selected BTC spot trading pairs is another move in this direction.”

Other fiat currencies that will also be subject to the new free rule include the Brazilian real, the Australian dollar, the Russian ruble and the Turkish lira. The feature will be available “until further notice,” Binance said.

Despite providing a convenient gateway to Bitcoin, centralized exchanges can become a security hole if users take advantage of them as escrow providers. Those interested in reducing risk can mitigate exposure to third parties by insuring their own bitcoin, which, despite the learning curve, could pay off in the long run.

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TikTok Star Khaby Lame to be Binance Spokesperson

Binance has partnered with popular TikTok content creator Khaby Lame to spread awareness about cryptocurrencies.

From TikTok to Web3

The Italian-Senegalese viral content creator will be Binance’s new global brand ambassador to increase awareness and adoption of Web3. Khaby Lame is known for his hilarious, silent videos in which he debunks popular misconceptions and calls out cryptic modern tricks. Khaby became the most followed content creator on TikTok (145 million followers) because of his “nonsense” attitude and straightforward sense of humor. Speaking about partnering with Khaby, Vice President of Global Marketing at Binance, James Rothwell commented:

“With so much nuance around Web3 and misinformation in the world, it was a perfect match to have Lame on board to help debunk some of the myths surrounding that space.”

Debunking Web3 Misconceptions

Khaby’s videos are characterized by him navigating overly complicated “life hack” scenarios without saying a word while doing the famous “Khaby move”. Partnering with Binance will see him address misinformation and misconceptions about Web3 and cryptocurrencies in his signature style, while trying to simplify complex topics in the marketplace. Khaby released a statement about the partnership, saying:

“I consider my followers as my family and I’m always looking for new challenges and interesting content to share with them. I’ve been curious about Web3 for some time now and jumped at the chance to partner with a leader like Binance because it aligns perfectly with what I usually do: making complex things easy and fun for everyone.”

Khaby publishes first video sponsored by Binance

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Cristiano Ronaldo and Binance Partner: Web3 for Football Fans

Cristiano Ronaldo stated that he would like to provide his fans with unprecedented experiences through the NFT.

Football star Cristiano Ronaldo has signed an exclusive multi-year NFT partnership with cryptocurrency exchange Binance. As part of this collaboration, football fans will be introduced to the Web3 ecosystem through NFT’s global campaigns.

In the announcement, Binance explains that as part of the partnership, several NFT collections will be created with Cristiano Ronaldo. They will be sold exclusively through the Binance NFT platform, with the first collection expected to launch later this year.

Changpeng Zhao, CEO and founder of Binance, praised Cristiano Ronaldo’s achievements in football, saying that the athlete “transcended the sport to become an icon in various sectors”. Zhao also said:

“Through his authenticity, talent and charity work, he has built an extremely loyal fan base.”

Zhao further stated that Binance hopes to provide Ronaldo fans with “unique opportunities to connect with Ronaldo” if they own pieces from NFT collections. Meanwhile, the football star also commented on the planned NFT releases. He said fans would certainly be happy about it. Ronaldo also commented:

“The relationship with the fans is very important to me, so the idea of ​​delivering unprecedented experiences through the NFT platform is something I wanted to do as well.”

In March, Ronaldo was rewarded with crypto tokens for his sporting achievements. The football star received JUV tokens for every goal he scored in his career. This is the official supporter of the Italian football club Juventus Torino.

Despite the current crypto winter, the Binance CEO expressed his optimism in early June. Zhao explained that this is the third crypto winter for him and the second for Binance. So, he said, the team knows how to navigate a bear market. In addition, he said that the exchange will take advantage of this as an opportunity to hire more available professionals during this period.

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Binance Launches Binance Bridge 2.0 to integrate CEFI and Defi

The service would allow users asset bridges of any block block to the BNB chain.

On March 29, the Centralized Cryptocurrence Exchange Bnance announced the Binance Bridge 2.0 impulse. The feature allows active users to tarnate any block block, even tokens that are not listed in the Binance application for the BNB chain. The bridges listed in billions will be stored in funding or in the portfolio to detect, while the not listed binding tokens will be transferred to the funding portfolio only.

Users can fill or bridge tokens between their native blocks of blocks and BNB chain through regular tank functions and removal. In the future, Binance also plans to create a better version of your mobile application to allow users to provide this conversion to facilitate through a single click. With regard to development, Mayur Kamat, Binance Manager, said:

"With Binance Bridge 2.0, we can make decentralized finances accessible to a larger public worldwide, while providing user-free user experience offered by centralized finance offerings. We are already seeing this through tremendous adoption of the Mini Pancheckap application.

Binance has also implemented a new automated token control system in Binance Bridge 2.0. The exchange will not maintain a surplus of fixed chips, also known as enveloped assets, except for a buffer size in hot portfolios. Instead, you will print additional tokens when users will remove fallen tokens into the BNB intelligent chain.

The company indicated that all other circulations will be supported by the native tokens deposited by the users of the original block tables. When users want to change the tokens glued to the original tokens, they can deposit the fixed sheets in the binave and remove the original tokens. Simultaneously, excessive tokens will be swept to the cold portfolio and will burn automatically.