Binance Will Not Invest in Crypto Lender Genesis: WSJ
After crypto lending firm Genesis suspended client redemptions and indicated it would seek a $1 billion emergency cash loan, major potential backer Binance said no to the investment, the Wall Street Journal first reported.
Unlike Binance, FTX Was Not Actively Soliciting Users—The Monetary Authority of Singapore
The Monetary Authority of Singapore has released a statement explaining why it had warned Binance, but not FTX, about its operations in the country.
Genesis Will Go Bankrupt Without Fresh Funding
Genesis, the crypto brokerage platform that froze withdrawals last week, may resort to bankruptcy if it fails to raise money from potential investors, according to people familiar with the matter.
Binance Overtakes Coinbase As Largest Bitcoin Reserve Holder
As per recent reports, crypto giant <a href="https://coingape.com/glossary/binance/">Binance</a> has now become the largest Bitcoin reserve holder for the first time ever. An “<a rel="nofollow" href="https://studio.glassnode.com/dashboards/btc-exchanges">exchange reserve</a>” is an indicator that indicates the total quantity of Bitcoin that is currently stored in the wallets of a centralized exchange.
Singapore’s Watchdog Says Binance Placed on Investor Alert List Over FTX Due to Unlicensed Activity
The MAS revealed Binance was placed on the IAL because it actively seeks Singaporean users and has features that could be misinterpreted to mean it is licensed by the regulator.
For the First Time: Binance With Largest Bitcoin Reserves
CryptoPotato recently reported that upwards of $8 billion worth of crypto was withdrawn from centralized exchanges following the FTX collapse. Now, data shows that Binance has the largest reserve of BTC for the first time.
Binance Current Valid Soulbound Token Counts Reached 50 Million
According to Dune, current valid SBT counts reached 500,624.
Binance's CZ and Ethereum's Vitalik Agree on New Idea as BNB Remains Stagnant
The CEO of Binance, CZ, agreed with Vitalik Buterin that Centralized Exchanges (CEXes) needed to produce public evidence showing user safety. Of course, CZ had initially pushed the Proof-of-Reserves idea in response to the <a href="https://ambcrypto.com/ftt-collapse-post-mortem-how-ftx-was-led-by-kids-with-no-experience/" target="_blank">calamity</a> that befell FTX users, with several exchanges adopting the model.
Binance Launches Industry Recovery Fund, but It Goes Against Crypto's Principles
This fund is a euphemism for simply creating a privately-owned, centralized global bank that will provide liquidity to those in need. But no private company ever will give you money altruistically, it always has a price.
Doge Founder: If Binance or Tether Collapse, It's Game Over for Crypto
The Co-Creator of the memecoin Dogecoin – Billy Markus (better known as Shibetoshi Nakamoto) – thinks if either Binance or Tether goes down, this could be “pretty much game over.” The American software engineer also outlined that an increasing number of people have realized that too much centralization is a “big weakness.”
