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Binance Dominates Crypto Inflows in 2024
Binance, the top cryptocurrency exchange globally, has outperformed its competitors in terms of inflows in 2024. Despite facing challenges such as regulatory issues and the imprisonment of former CEO CZ, Binance has maintained its lead. The exchange saw a 40% increase in institutional and corporate investments this year, benefiting from the approval of ETFs. Additionally, Binance capitalized on the meme coin trend by listing new coins that gained significant traction. Despite these successes, th
Streamlined Token Creation Platform SpringBoard Unveiled by PancakeSwap
PancakeSwap, a prominent player in the decentralized finance (DeFi) sector, has introduced SpringBoard, a user-friendly token creation platform tailored for the BNB Chain. SpringBoard is targeted towards creators of meme coins, DeFi tokens, and community projects, offering a range of tools for token creation and launch without the need for coding skills. With features like no initial fees, fair launch mechanisms, and automated liquidity pool integration, the platform aims to democratize the proc
BNB Chain Vulnerable to Record-High Sandwich Attacks
On December 1, sandwich attacks targeted over a third of BNB Smart Chain blocks, marking a new high in exploits against decentralized exchanges. Data from Dune Analytics indicates that 35.5% of blocks were affected, impacting $1.5 billion in trades through 43,400 transactions in a single day. This surge highlights the increasing risks faced by DEX platforms. In a previous incident, a bot managed to steal $40 million from 100,000 victims within three months using a similar attack method. BNB Chai
Changpeng Zhao Seeks Presidential Pardon for Return to Binance Leadership
Former Binance CEO Changpeng Zhao has expressed interest in receiving a pardon from President-elect Donald Trump to potentially resume his role at Binance. Despite stating that he has no plans to return as CEO, Zhao mentioned that he would appreciate a pardon from the President. This comes after a public appeal from John Lilic, advocating for Zhao's pardon to boost the growth and maturity of the crypto industry. While Zhao served a prison sentence for a money laundering charge and has since shif
Decline in Crypto Losses in November 2024
In November 2024, the crypto industry saw a significant decrease in losses, totaling $71 million across 26 incidents, marking the second-lowest monthly losses. This represents a substantial improvement from November 2023, which recorded $343 million in losses. Year-to-date figures show a total loss of $1.48 billion in 2024 due to hacks and rug pulls, a 15% decline from the previous year. DeFi platforms were the primary target, accounting for all reported cases in November. Hacks remained the lea
Former Binance Executive Alleges Bribery in Whistleblower Claim
A former executive at Binance, the top cryptocurrency exchange, has filed a lawsuit against the company, alleging that she was terminated for exposing bribery. Amrita Srivastava, a former senior employee based in London, accused a co-worker of accepting a bribe disguised as consultancy services to expedite a customer's integration into Binance. Srivastava expressed the negative impact on her career and stated her refusal to ignore fraudulent activities within the company. Binance, however, refut
Trust Wallet Launches $WOD Token on World of Dypians MMORPG
Trust Wallet, a popular self-custody Web3 wallet with over 140 million users, has introduced the third project on Trust Wallet Launchpool, showcasing the $WOD reward token. $WOD is the native token of World of Dypians, an MMORPG on Epic Games, offering advanced AI, impressive graphics, and immersive gameplay. This ecosystem combines DeFi, NFTs, Gaming, and AI for a unique experience. Trust Wallet Launchpool enables TWT holders and Trust Wallet users to engage with new projects securely, earning
Identifying the Next Big Cryptocurrency
In the fast-paced world of digital currencies, it is crucial for investors to pinpoint the most promising options for growth. This article highlights five popular cryptocurrencies - Aureal One, DexBoss, 5thScape, and two others - that offer unique solutions and investment potential. Aureal One, a decentralized platform for gaming and metaverse, focuses on asset exchange between players to enhance their gaming experience. DexBoss, a new DeFi trading platform, offers low-cost cryptocurrency DEBO w
Revolutionizing Restaking on BNB Chain
Kernel has secured funding from Binance Labs, establishing itself as a key restaking infrastructure on BNB Chain. This achievement signifies a significant step in transforming BNB's economic security into programmable trust, benefiting dApps, middleware, and the entire crypto ecosystem. With a total funding of 10M across various rounds, Kernel has garnered support from investors like SCB Limited, Laser Digital, and others. The project aims to revolutionize restaking on BNB Chain by introducing i
Binance Surpasses 240 Million Users with Institutional Onboarding Doubling
Binance, the world's largest crypto exchange, has reached over 240 million users globally, with a significant increase in institutional onboarding. The platform added 70 million new users in 2023, bringing its total user base to surpass countries like Brazil, Nigeria, and Russia. CEO Richard Teng attributes this growth to both retail and institutional adoption, with institutional onboarding rates doubling in the past year. Binance now holds $130 billion in user assets and has set a record by exc
Cyberattack on Educational Platform's Social Media Account
A cyberattack targeted the social media account of a prominent educational platform, leading to unauthorized access. Changpeng Zhao, founder of Giggle Academy and Binance crypto exchange, warned followers about the hack and advised caution when engaging with content from the compromised account. Zhao and CEO Gigi Broverman are working to regain control and dispel misinformation spread by hackers. The incident raised concerns about the security of online educational platforms, especially those se
Cryptocurrency Token for Telegram Mini App Hamster Kombat Gains Traction Despite User Drop
The Hamster Kombat cryptocurrency token for the Telegram Mini App continues to attract attention, despite a recent decrease in user numbers. The team reported a daily spot trading volume of $1.3 billion and a perpetual trading volume of $4 billion on Nov. 14. Currently, there are 11 million tokenholders, equivalent to over 239 Yankee Stadiums filled with believers in the token's value. Although user numbers have declined significantly, community sentiment remains positive, with 73% of voters exp
Revolutionizing AI Agents with Near Protocol's Crosschain Technology
Near Protocol has introduced a cutting-edge crosschain AI agent that can swiftly launch memecoins and facilitate web purchases with fiat. The NEAR.AI Assistant, unveiled by co-founder Illia Polusukhin, showcased its prowess at the Redacted conference in Bangkok. This innovative technology allows users to effortlessly book flights, order food, and even create custom merchandise websites. Near's unique chain abstraction technology, Intents, enables seamless asset swaps across various blockchains.
Resurgence of NFT Trading Volumes on BNB Chain in Q3
Non-fungible tokens trading volumes on the BNB Chain experienced a significant increase in the third quarter, rising by 283% to a daily average of $600,400, as reported by blockchain analytics firm Messari. The average daily sales also saw a 47% increase quarter-on-quarter to 8,900. However, the average daily number of buyers decreased by 53% to 2,300, indicating that Q3 NFT activity was driven by larger investors rather than smaller users. Despite the growth, BNB Chain's $55.2 million NFT tradi
Changpeng Zhao's Return to the Public Eye
Changpeng Zhao, the billionaire founder of Binance, reappeared at the Coca-Cola Arena in Dubai after serving a four-month sentence for AML failures. Despite being hailed as a 'martyr' and 'king,' Zhao will not resume his CEO role due to a plea deal with the DOJ. During his time in prison, he stayed active, considering offers to sell his Binance stake. His departure coincided with Binance's $4.3 billion sanctions payment, now led by CEO Richard Teng. Zhao's ties to Binance remain strong, with a 9
Binance Aims to Boost Cryptocurrency Adoption in Thailand
Binance is focusing on increasing cryptocurrency adoption in Thailand to potentially revolutionize the digital asset landscape in Asia. The crypto platform aims to make virtual coins a mainstream currency in the Thai market, with hopes of reaching 1 billion users. Binance sees Thailand as a strategic market for expanding its dominance in the cryptocurrency sector, especially due to the country's high crypto penetration rate, which is double the global average. The company's Chief Marketing Offic
Binance Charity Donates $3 Million to Valencia Flood Relief Efforts
Binance Charity, in response to the recent devastating floods in Valencia, Spain, has contributed $3 million to the Spanish Red Cross. The funding from the crypto exchange aims to provide immediate relief and aid to the affected communities. This donation will enable the Spanish Red Cross to mobilize essential resources for those impacted by the natural disaster. The Head of International Partnerships at the Spanish Red Cross, Fernando Pérez-Ordoyo, expressed gratitude for the support, emphasizi
Legal Battle Between Binance and SEC Over Cryptocurrency Violations
Binance and its former CEO CZ are challenging the US SEC's amended complaint alleging violations involving certain cryptocurrencies. The legal defense team filed a motion to dismiss the SEC's lawsuit update targeting tokens like AXS, FIL, ATOM, SAND, and MANA. The court previously rejected the SEC's attempt to classify crypto assets as investment contracts, acknowledging that each transaction must comply with securities laws. Binance argues that the SEC's claims are legally flawed and should be
Challenges Facing Ether Amidst ETF Outflows
Ether (ETH) has struggled to maintain a price above $2,500 despite multiple attempts following a crypto sell-off in early August. The launch of spot Ethereum exchange-traded funds (ETFs) on July 23 was expected to boost ETH's value, but it has faced resistance at the $2,500 level. Factors contributing to this struggle include net outflows from Ethereum ETFs, lack of institutional interest, and competition from other blockchains offering lower fees and higher scalability. Ethereum's network activ
Alleged Wash Trading Scheme by Gotbit CEO Indicted by DOJ
The Department of Justice has charged Aleksei Andriunin, the CEO of Gotbit, with wire fraud and market manipulation conspiracy. Andriunin, a Russian national in Portugal, is accused of inflating trading volumes for client crypto companies, including those in the US. Gotbit, along with its directors Qawi Jalili and Fedor Kedrov, allegedly used wash trading techniques to manipulate market activity from 2018 to 2024. The indictment claims Andriunin developed software for deceptive trading, while Go
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btc market update !!!!
BTC is currently trading around $106,000. As I mentioned in my previous post, BTC could hit a new ATH, and that’s exactly what happened. Now, the next update: I believe BTC could give us a reversal, and slight downward momentum might come. BTC could test the $103,000 level, which I think can act as a short-term bounce zone. Again, I believe BTC might decline further from the $103,000 level.
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