Binance, a cryptocurrency exchange, has released its latest proof-of-reserves (PoR) report, which shows that it holds enough crypto and cash to cover user funds. However, the movement of its USDC reserves during Silvergate's collapse has raised questions. Binance's PoR reveals that its USDC balance decreased from $3.4 billion on March 1st to $23.9 million by May 1st, and on-chain data suggests that Binance started converting its USDC reserves into Bitcoin and Ether after Silvergate's collapse. The PoR has become a popular way for crypto exchanges to attest their holdings and share the same with the public as a way of transparency.

Binance will open trading for the ASR/TRY, ATM/TRY, ACM/TRY, BAR/TRY, JUV/TRY and PSG/TRY trading pairs at 2023-08-10 08:00 (UTC).

During Coinbase's second-quarter earnings call, CEO Brian Armstrong mentioned that Binance had moved some of its funds from USDC to another stablecoin, but despite this, the market cap of USDC has remained steady. USDC is the preferred stablecoin on Coinbase, and Binance once held a significant amount of USDC reserves, but it seems they have converted some of their holdings to other stablecoins. Binance has been redeeming USDC for USD recently, with many believing it is going towards their new stablecoin of choice, FDUSD. USDC's market cap has shrunk by nearly half in the past year, falling from $44.5 billion to $26 billion.

During Coinbase's Q2 earnings call, CEO Brian Armstrong unexpectedly disclosed that Binance had sold all its holdings of the stablecoin USDC, causing its market cap to increase. Armstrong's statement implied that USDC is now safer without Binance's involvement. However, USDC's market cap has been declining rapidly, dropping from $44.5 billion to $26 billion.

Binance has issued a recent announcement stating that on August 5, 2023, at 18:00 (UTC), the leverage and margin levels of the USDⓈ-M YGGUSDT perpetual contract on the Binance futures trading platform will be adjusted. Existing open positions before the update will be affected. It is highly recommended to adjust your positions and leverage prior to the update to avoid potential liquidation risks.

A federal judge has denied a motion by third-party Eeon to intervene in the US SEC enforcement action against Binance, citing the law that prohibits the consolidation of a private action with one brought by the SEC without its consent. The judge also referred to previous cases, including US SEC v. Ripple Labs, which prevented private cross-claims, counter-claims, and third-party claims to SEC enforcement actions. Binance and Changpeng "CZ" Zhao opposed Eeon's request to intervene, giving three reasons to the court to deny the motion.

Binance, the world's largest cryptocurrency exchange, has announced the addition of 22 new loanable assets and collateral assets to its Flexible Loan and VIP Loan services. Among the new collateral assets are Shiba Inu (SHIB), Compound (COMP), and Theta Network (THETA).

Binance CEO CZ has dismissed reports of potential fraud charges from the US Department of Justice as an attempt to create fear, uncertainty and doubt (FUD) in the crypto market. He pointed to an old tweet from Elon Musk highlighting a conflict of interest in the reporting of Semafor, the publication that broke the news. It remains to be seen if the DOJ will make an official communication about the alleged charges. 

According to data from CCData, South Korean cryptocurrency exchange Upbit surpassed Coinbase and OKX in spot trading volume for the first time in July, with a 42.3% increase to $29.8 billion. This places Upbit as the second-largest exchange by trading volume after Binance, which still holds the largest market share despite a fifth consecutive month of decline. The report also notes that centralized exchanges (CEX) recorded the second-lowest trade volumes since 2021, with users turning to decentralized exchanges (DEX) due to major lawsuits involving popular CEXs like Binance and Coinbase.

Kristen Hecht has been appointed as Binance's new deputy chief compliance and global money laundering reporting officer. This new role will oversee both areas as the exchange faces potential fraud charges from U.S. regulators. Hecht was previously the global head of corporate compliance at Binance and will primarily work on the company's compliance program while engaging with regulators, intergovernmental organizations, and industry bodies. Binance has been facing multiple investigations into its practices, but denies that several top legal and compliance executives have left the exchange due to the strain of dealing with these investigations.