The departure comes just days after the crypto exchange lost its CEO Brian Shroder.
Canadian BTC exchange partners with Costa Rica’s largest fiat payment system
Bull Bitcoin forms a partnership with SINPE Movil, Costa Rica’s principal fiat payments system, and Bitcoin Jungle, a local crypto wallet solution.
The Alliance Crypto Conference is Nearing — Will You Be There?
On September 21, Timișoara—Europe’s 2023 Cultural Capital—will host “The Alliance.”
This conference, organized by crypto.ro, aims to be a milestone in blockchain and crypto technology.
Event Vision
“The Alliance,” organized by crypto.ro, is a conference focused on innovation, collaboration, and education. The event aims to accelerate the adoption and development of blockchain technology, both on a local and international scale.
It seeks to bring together industry heavyweights, such as Binance—the world’s largest trading platform—as well as key players from Romania like MultiversX, the country’s most significant blockchain project.
Sponsors and Partners
We are proud to announce our key sponsors and partners for this event, who include Binance, MultiversX, WebIt Labs, and Hodlezz.
Their support has been instrumental in bringing this conference to life.
Renowned Speakers
The event stands out for the presence of top speakers, among which are:
- Alex Numeris, Founder and CEO at crypto.ro
- Kyrylo Khomiako, General Manager at Binance CEE & CIS
- Stefan Szakal, Head of Core Applications at MultiversX
- Marius Drenea, CEO at Hodlezz and Co-founder at WebitLabs
- Alex Arghirescu, CMO at IXFI
and many other influential names.
Why You Should Attend
The event is estimated to be marked by over 500 international participants, offering networking opportunities, personal and professional development, and access to exclusive opportunities.
Crypto.ro collaborates with major partners, including Binance and MultiversX, to offer memorable experiences and surprises.
This event will not be limited to just discussions and presentations, but will provide participants with an unforgettable experience.
Among the benefits offered are:
- Bar
- Buffet
- Free Merchandise
- Party
- VIP lounge
- Private Dinner
For more information and registration, visit https://events.crypto.ro.
About Crypto.ro
Crypto.ro stands as Romania’s premier media center at the crossroads of cryptocurrencies and blockchain technology. More than just a news outlet, Crypto.ro functions as a comprehensive educational hub.
It offers a wide-ranging library of resources designed to arm both newcomers to the crypto world and experienced investors with the insights needed for informed investment and participation.
The platform’s complimentary crypto academy features structured learning tracks, engaging webinars, and real-time market analytics to further contribute to the adoption of crypto assets.
Further broadening its influence, Crypto.ro Global serves as a multilingual division that makes this wealth of trusted information available to a diverse, international community.
Binance.US cuts third of staff as CEO Brian Shroder leaves: Report
The staff cut and departure comes amid legal action from United States regulators.
Binance.US CEO Has Left, Crypto Exchange Cuts 1/3 of Workforce
Binance pledges $3 million in BNB to Morocco earthquake victims
Binance said it will issue a series of airdrops worth up to $100 in BNB to users verified to be located in the highly impacted Marrakech region of Morocco.
Binance to Airdrop $3M in BNB to Users Affected by Morocco Earthquake
Users who had verified their address details for Sept. 9 to show they live in Marrakesh-Safi province will each receive $100 worth of the token.
Binance.US calls SEC’s court requests ‘unreasonable’ in new filing
Binance said the SEC’s requests are “unduly burdensome” soon after the parties agreed on a joint motion to file confidential information under seal.
Binance Says SEC’s Request for Depositions is ‘Overbroad’ and ‘Unduly Burdensome’
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Binance’s Richard Teng denies FTX comparisons: ‘We welcome the scrutiny’
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Nifty News: NFT restaurant crumbles, Binance NFT ends Polygon support and more
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BIS thinks DeFi has no use cases, but CZ is bullish: Finance Redefined
Binance CEO Changpeng Zhao says DeFi will outpace CeFi in the next bull run, but the Bank for International Settlements is skeptical.
Binance To Refund Users $1 Million In USDT Following CyberConnect Incident
Binance, one of the leading cryptocurrency exchanges, has recently decided to refund users $1 million USDT (Tether) following an incident related to the CyberConnect (CYBER) token.
The refund aims to compensate users affected by a price discrepancy on listed CYBER tokens due to liquidity constraints on the Korean cryptocurrency exchange Upbit.
Binance Addresses CyberConnect Woes
As described by Binance, the incident unfolded when a liquidity crunch on CYBER cross-chain bridges hindered transactions on Upbit. This led to a price disparity between Upbit and other exchanges, attracting arbitrageurs who borrowed CYBER from Binance to profit from the price difference.
Consequently, Binance users who had staked CYBER in its Flexible Earn Program could not redeem their assets since the staked tokens had been borrowed, reaching the loan limit.
In response to the situation, Binance acknowledged users’ feedback and sincerely apologized for the inconvenience caused. The exchange affirmed its commitment to prioritizing users’ interests and maintaining high transparency within the community.
Binance provided a detailed account of the events leading to the incident. It explained that the liquidity crunch on CYBER (ERC20) tokens resulted in a surge of loan requests for CYBER, triggering Binance’s risk management protocol.
The exchange had to halt new loan requests and increase loan interest rates significantly. However, due to the substantial volume of redemption requests, Binance faced challenges in fulfilling them immediately despite maintaining a maximum borrowing limit as a buffer for redemptions.
Stricter Reviews And Potential Delistings
Moving forward, Binance outlined measures to enhance user experience and mitigate similar risks. These measures include dynamically adjusting loan interest rates and strengthening risk management protocols.
According to their September 7 announcement, Binance also committed to conducting stricter reviews of tokens with smaller market caps and potentially delisting tokens with lower liquidity from certain programs. To compensate affected users, Binance announced a distribution plan for the $1 million USDT refund.
It stated that 887 impacted users who failed to redeem their CYBER Simple Earn Flexible Products positions within a specific timeframe would receive a share of USDT tokens from the refund pool and additional CYBER tokens.
The distribution would be proportionate to the daily average positions of the eligible users. All other users who held CYBER Simple Earn Flexible Products positions during the mentioned period would receive an equal share of CYBER Locked Trial Fund vouchers sponsored by the CyberConnect Foundation.
As the cryptocurrency industry continues to evolve, incidents like these serve as reminders of the importance of robust risk management measures and continuous improvements to safeguard user interests and maintain trust in the ecosystem.
Binance Coin (BNB) is currently trading at $215, in line with the prevailing market trend of stagnation. It has experienced a slight decrease of 0.2% over the past 24 hours and a 1.3% decline over the seven days. These figures indicate a relatively stable performance for BNB amidst the market conditions.
Featured image from iStock, chart from TradingView.com
Binance Boosts Bitcoin, Ether Trading in Argentine, Brazilian, South African Currencies With Fee Promotion
The crypto exchange’s promotion comes as trading volumes plummet to four-year lows, hurting the revenue streams.
Binance to reimburse users $1M for Cyber Earn incident
Users were prevented from withdrawing their CYBER Earn assets on the exchange due to a cross-chain bridging issue.
Binance’s indecision to freeze BNB wallets drew controversy in this $11M rug pull
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Polygon Foundation denies MATIC dump on Binance, claims wallets were mislabeled
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Binance crypto exchange saw departure of 10 key executives in 2023. Here’s the list
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Binance creates smart contract to refund users affected by $3M rug pull
After the rug pull, Xirtam scammers directly deposited stolen funds onto Binance, prompting the exchange to freeze the assets.
PERP Spikes 90%, Perpetual Protocol Foundation Sends Tokens To Binance: Is This Good
PERP, the native token of Perpetual Protocol, is one of the top-performing assets, looking at price action in the past 48 hours. As of September 6, the token is changing hands at $0.78, adding roughly 90% from August 2023 highs.
Amid this stellar performance, reports reveal that the Perpetual Protocol Foundation has transferred 903,000 PERP worth approximately $691,000 to Binance, the world’s largest cryptocurrency exchange by trading volumes and client count.
PERP Ripping Higher After Dumping In Q2 2023
According to Lookonchain, a blockchain analytic platform, the wallet associated with the foundation has been regularly moving tokens to Binance in the past few months, starting from March. At that time, PERP was trading at a relatively higher price, at around $1, looking at trackers like CoinMarketCap. Since then, however, the token has been on a downtrend.
To illustrate, after peaking at about $1.22 in early March, PERP tanked by over 65% to $0.38 in June. A marginal increase from July before prices contracted to around $0.40 in August, bouncing to spot rates in the past few trading sessions.
Looking at the PERP/USDT candlestick arrangement in the daily chart, buyers have the upper hand after a clear double bottom was printed following gains in early September. Whether the uptrend will continue and PERP has effectively bottomed after a rough few months is yet to be seen. What’s clear is that buyers appear to be in control, and PERP is trading at April 2023 levels, peeling back losses of the past four months.
Perpetual Protocol TVL Remains Depressed, Will The Foundation Sell?
Perpetual Protocol is a popular decentralized finance (DeFi) protocol allowing users to trade crypto perpetual futures with leverage trustlessly. Perpetuals are complex derivatives products with no expiry dates.
Perpetual Protocol also supports concentrated liquidity, a feature first introduced in Uniswap v3. Moreover, it allows leverage of up to 10X.
Through this exchange, DeFi users have an alternative to Binance or Coinbase, both centralized options. By September 6, the exchange’s total value locked (TVL) was steady at around $12 million, down from $18 million in late July 2023. Of note, PERP is rallying without any sharp increment in TVL, as DefiLlama data shows.
Typically, outflow from a non-custodial wallet to a centralized exchange is interpreted as bearish in crypto circles. So far, trackers reveal that the Perpetual Protocol Foundation has 7 million PERP in Binance worth over $4.62 million. It is also not clear whether they plan to sell.