Binance CEO Changpeng Zhao reportedly tried to shut down the company's U.S. exchange earlier this year to protect the global exchange from increasing regulatory scrutiny. The Binance.US board of directors, chaired by Zhao, voted on whether to liquidate the $4.5 billion-valued U.S. exchange, but failed to achieve unanimous support.

Changpeng Zhao (CZ), the CEO of Binance, recently participated in an hour-long Twitter Spaces session where he answered various user questions. Some of the topics discussed included Binance's Dubai license, Binance Launchpad, and Coinbase's layer-2 mainnet called Base. CZ emphasized that Binance welcomes competition and is open to collaborating with new products and blockchains in the crypto space. He also provided insights into Binance's Dubai license, explained the purpose of Binance Launchpad as a platform for fundraising in crypto, addressed inquiries about purchasing Binance merchandise, and discussed team management strategies for staying on top of trends. Regarding Coinbase's Base network launch, CZ stated that it is not viewed as a threat but rather as a positive development that brings more choice to users. Overall, CZ highlighted the importance of embracing competition and working together within the industry.

Binance, a major cryptocurrency exchange, has launched a Japan-based arm called Binance Japan, offering spot trading for 34 tokens as of August 1. The move comes two years after the company received a warning from the country's financial regulator and relocated its headquarters to Malta. Binance acquired Sakura Exchange Bitcoin in November 2022 and plans to migrate global Binance users starting on August 14, with the aim of bolstering the development of the Japanese digital-asset market.

Binance has announced the launch of Sei (SEI) on Binance Launchpool, a layer 1 blockchain optimized for the exchange of digital assets. Users can stake their BNB, TUSD, and FDUSD to farm SEI tokens over 30 days, starting from August 2, 2023. Binance will list SEI on August 15, 2023, with SEI/BTC, SEI/USDT, and SEI/BNB trading pairs.

Binance CEO Changpeng Zhao is exploring the possibility of introducing smaller algorithmic stablecoins to the market to provide investors with alternatives to the current dominant stablecoins. He expressed concerns about the lack of transparency and unforeseeable risks associated with large stablecoins such as Tether and Binance USD. As a result, Binance is working on algorithmic stablecoins and diversifying its stablecoin partnerships to spread out potential risks. Additionally, Binance plans to launch the First Digital USD in Hong Kong and explore new stablecoin options in Europe.

Binance co-founder CZ revealed in an AMA session that Binance is actively expanding its DeFi services, with stablecoins being a major focus in the Web3 space. Binance plans to support stablecoins like FUSD and Euro-based stablecoins.

According to Whalealert, about 10 minutes ago, a certain giant whale transferred 1,000 bitcoins to Binance US with a total value of about $29 million.

CZ, the founder of Binance, said in an AMA that he personally does not know which field will become the biggest or most interesting in encryption. trading platform. It believes that CEX has helped many people in the encryption field. CZ added that there are many other interesting areas where Binance plans to invest heavily, and DeFi is obviously one of them. NFTs may be difficult at the moment, but hopefully people will find more practical and common use cases for using NFTs, not just for selling digital art. In addition, fields such as games and e-commerce will continue to develop.

Binance founder Changpeng Zhao (CZ) said in an AMA, "In addition to the stablecoin First Digital USD (FDUSD), there are new stablecoin partners to be announced soon. I don't want to disclose specific details for now. We will support multiple encryption currency."

Binance added AGLD and T as new borrowable assets on cross margin, and added new trading pairs on isolated margin: New cross margin currency pairs: AGLD/USDT, T/USDT New isolated margin currencies Right: ARKM/TUSD, AUCTION/USDT