Binance.US, one of the leading cryptocurrency exchanges in the United States, has announced the removal of select USD advanced trading pairs as part of its transition to a crypto-only exchange. Effective July 13, 2023, at 8 p.m. PDT / 11 p.m. EDT, the following advanced trading pairs will be removed and cease trading: ADA/USD, BNB/USD, BTC/USD, ETH/USD, LTC/USD, MATIC/USD, SOL/USD, USDC/USD, VET/USD.

It's important to note that trading for USD will still be available on the USDT/USD advanced trading pair. Additionally, trading for over 150 cryptocurrencies will continue to be accessible through the advanced trading interface via USDT pairs. Some cryptocurrencies may also support trading with #BTC BUSD, DAI, or TUSD.

Binance.US assures users that they can still engage in various activities with USD, including buying, selling, and converting cryptocurrencies. Users can use USD to buy and sell 21 different cryptocurrencies or freely convert between 20 cryptocurrencies and USD.

To ensure a smooth transition, #Binance.US advises users to carefully review their trades and either execute or cancel any open orders on the impacted advanced trading pairs before the removal takes effect.

This move by Binance.US aligns with the broader industry trend of focusing on cryptocurrency trading and streamlining offerings. By removing select USD advanced trading pairs, the exchange aims to optimize its services and provide a more efficient and tailored trading experience for its users.

As the cryptocurrency market continues to evolve, it is crucial for traders and investors to stay updated on platform changes and adjust their trading strategies accordingly. Binance.US's commitment to delivering a seamless transition and maintaining a diverse range of cryptocurrency trading options demonstrates its dedication to meeting the evolving needs of its users. #GOATMoments #Binance

$BOND Barnbridge is facing hurdles in crypto world.As we all know that $1.7M isn't sound as hefty in the crypto world when we hear the news that #hackers stole more than Billion dollars like #Lazarus Group etc. But what matters is this that small sum amount still can grow to be a big project in the crypto if used right.#SEC , after SEC announced its decision that they ( Barnbridge) failed to register BarnBridge’s offer and sale of structured crypto asset securities known as SMART Yield bonds. And two founders, Tyler Ward and Troy Murray agreed to pay the fine, no questions asked. Whatsoever. #BOND/USDT X ( former Twitter) account shows inactivity of the team since July 2023.#BARNBRIDGE AFTER its listing around July 2022 on #Binance.US it faces delisting on 17jan2024.Here are some questions as a traderIs SEC right by slamming a hefty sum fine of 1.7M dollars? For a project that low market cap. Does Barnbridge lack stability in their inner structure to provide better strategy to do what is right for its users who believe that $BOND could still be a good investment?

Binance.US cuts staff one more time

Binance.US, the US arm of crypto exchange, has cut a third of its staff, around 100 positions. Along with this, Exchange President and CEO Brian Schroder has also left the company. A spokesperson for Binance.US confirmed the layoffs and Schroder’s departure, adding that the action was taken to steer the exchange toward becoming a crypto-only exchange. Schroder joined #Binance.US in September 2021 and has recently left the firm due to regulatory action taken against the firm. This step has been taken when the company is facing regulatory challenges from the US Securities and Exchange Commission (SEC). Binance US claims that the SEC’s action has had a negative impact on the company’s business and has led to the loss of jobs and innovation in the US. The decision reflects the challenges facing the #cryptocurrency industry as regulators continue to scrutinize the sector.

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Binance.US Partners with MoonPay to Restore USDT Transactions

In an effort to restore its ability to use U.S. dollars, Binance.US has teamed up with MoonPay, a crypto payment company. This move follows Binance.US's shift to a crypto-only platform after facing banking issues two months ago. This partnership now enables users to purchase the U.S. Dollar-pegged stablecoin Tether (USDT), which can be used for transactions on the Binance.US platform.

On June 9, the crypto exchange lost its banking partners because of the "aggressive and intimidating" tactics from the U.S. Securities and Exchange Commission (#SEC ). The SEC had sued the exchange a few days earlier. As a result, the exchange had to find a new way to allow users to fund their accounts. Although direct bank deposits are currently not available, the exchange has partnered with a new option. Users can now use debit and credit cards, along with Apple and Google Pay, to fund their accounts.

Will Chandrayaan-3 Boost Crypto's Role in Space in the Future?

This development holds special significance for Chandrayaan-3's landing, India's latest mission to the Moon. With the increasing commercialization of space exploration, there's a growing demand for a convenient, universally accepted currency. The collaboration between Binance.US and MoonPay could offer insights into how cryptocurrency transactions could work in space, where traditional banks are absent. This partnership might set an example for handling crypto transactions in such unique environments.

The idea isn't as outlandish as it might seem. Space missions thrive on global collaboration, but managing various currencies can be complex. Cryptocurrencies like USDT could streamline transactions, simplifying cooperation among nations for ventures like #Chandrayaan-3 . Furthermore, blockchain technology could provide a secure and clear method to monitor funding and resource distribution in these missions.

Earlier this year, the crypto space experienced a notable setback as some crypto-friendly banks, such as Silicon Valley Investment Bank, Silvergate, and Signature Bank, faced collapse. However, the recent partnership between #Binance.US  and MoonPay could indicate the crypto industry's ability to bounce back. This collaboration offers an alternative to traditional banking systems, highlighting the industry's resilience and adaptability.

As the whole world follows the Chandrayaan-3 landing, it's important to think about how progress in crypto technology might shape the future of space exploration and global cooperation. Binance.US's recent move could seem small in the crypto world, but it holds the potential to be a significant stride toward a more connected and streamlined global community. 

Regulators in Florida and Alaska said #Binance.US could no longer serve its residents after former CEO Changpeng Zhao’s guilty plea.
Binance.US, a cryptocurrency exchange embroiled in regulatory issues, is facing ongoing challenges from U.S. authorities following the admission of guilt by its former CEO Changpeng Zhao.
As reported by The Wall Street Journal on January 25, regulatory bodies in Florida and Alaska have informed Binance.US that it is prohibited from operating in these states.
The Alaska Division of Banking and Securities declined to renew Binance.US's license in January 2024, and attempts by Cointelegraph to get a comment from the agency were unsuccessful at the time this was reported.
The Florida Office of Financial Regulation has also acted against Binance.US, issuing an emergency order to suspend its money transmitter license. This action was taken a week after Zhao, also known as CZ, admitted to breaching U.S. Anti-Money Laundering regulations on November 21, 2023.
In December 2023, a U.S. federal court recognized Zhao's guilty plea to a violation of the Bank Secrecy Act. Following this, Zhao resigned from his position at Binance.US and arranged for his voting rights to be assigned via a proxy agreement, thereby relinquishing his control over the company's management.
Despite these developments, Binance.US has continued its operations in the U.S. On November 28, the exchange affirmed its commitment to maintaining its standard offerings and services to customers.
Furthermore, Binance.US reached settlements with Arkansas, Illinois, and South Dakota in late December, allowing it to continue its operations in these states, on the condition that the transfer of Zhao’s voting rights is made permanent.
After his guilty plea, Zhao sought to use his $4.5 billion Binance.US stake as collateral for permission to travel to the United Arab Emirates. However, his request was denied by Judge Richard Jones in a private hearing on December 29, according to court documents.
Zhao is scheduled for sentencing on February 23, 2024, and could face up to 18 months in prison.
#crypto #ETH #BTC

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