DIRS.INFO The most relevant business & tech news

Companies Binance Labs FollowLONDON, March 29 (Reuters) - Investors withdrew $1.6 billion of cryptocurrency from crypto exchange Binance since it was sued by the U.S. CFTC on Monday, blockchain data tracker Nansen said on Wednesday. The U.S. Commodity Futures Trading Commission (CFTC) sued Binance - the world's biggest crypto exchange - along with its CEO and former top compliance executive, alleging that they were operating an "illegal" exchange and a "sham" compliance program. Since the lawsuit, Binance has seen $1.6 billion of overall withdrawals and $852 million in the last 24 hours, Nansen said, in a step up from the average of $385 million per day over the last two weeks. Martin Lee, research analyst at Nansen, said that the outflows were higher than usual, but still not as high as Dec. 13, when investors pulled $3 billion from Binance as they grew nervous about the status of Binance's reserves. Reporting by Elizabeth Howcroft, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Bitcoin and Ether are down 3% after CFTC sued Binance and its CEO over US regulatory violations
▼ + stars: | 2023-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Cryptocurrencies are trading lower after CFTC sued major exchange Binance for regulatory violations. Bitcoin and Ether are trading around $27,000 and $1,700 respectively, about 3% lower over the past 24 hours. Bitcoin and Ether prices are around $27,000 and $1,700 per token respectively, per CoinMarketCap data. The US regulator said in a complaint filed in a Chicago federal court Monday that Binance breached eight provisions of the Commodity Exchange Act. The CFTC said Binance "lucrative and commercially important 'VIP'" customers, including institutional customers in the US while disregarding registration and regulatory requirements under the US law.

Summary Ruling has implications for oil, mineralsNon-EU Norway has sovereignty over Svalbard Arctic islandsState can sue Norway -expertOSLO, March 20 (Reuters) - Norway's Supreme Court ruled on Monday that EU ships cannot fish for snow crab off the Svalbard archipelago in the Arctic in a case also deciding who has the right to explore for oil and minerals in the region. At stake was whether EU vessels had the right to catch snow crab, whose meat is considered a delicacy by gourmets in Japan and South Korea, in the same way as Norwegian vessels did. But what is valid for the snow crab, a sedentary species living on the seabed, is also valid for oil, minerals and other resources, the Supreme Court ruled in a 2019 case. "The company does not have the right to catch snow crab on the continental shelf outside Svalbard," the Supreme Court said in its verdict, which was unanimous. "It is a domestic court decision, (so) an international court can also hear this question at a later stage."

☆ Nansen's content chief explains why USDC faces uncertainty
▼ + stars: | 2023-03-16 | by ( Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNansen's content chief explains why USDC faces uncertaintyCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. In this interview, Andrew Thurman, head of content at the blockchain analytics firm Nansen, breaks down the impact of the recent bank shutdowns.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin nears $25,000, and new FTX management says the firm moved billions to SBF: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew Thurman, head of content at the blockchain analytics firm Nansen, breaks down the impact of the recent bank shutdowns.

☆ Crypto founders are running out of bank options after the collapses of SVB and Signature. Here's where they're scrambling to move their money.
▼ + stars: | 2023-03-15 | by ( April Joyner | Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Crypto founders face dwindling banking options after the collapses of Silvergate and Signature Bank. After back-to-back collapses of several crypto- and startup-friendly banks — Silvergate, Signature, and Silicon Valley Bank — crypto founders face a huge void. Silvergate and Signature, in particular, filled a vital role in the financial system for crypto startups, several founders told Insider. Well before the collapse of SVB and downfall of Signature, crypto founders had found banking havens outside the US in locales such as Dubai and Singapore. "It's a recurring conversation that crypto companies have that are based out of the states," she said.

LONDON, March 1 (Reuters) - Binance's stablecoin, Binance USD, has seen around $6 billion of outflows following a U.S. regulatory crackdown on the company that issues the token, according to market tracker CoinGecko. Binance CEO Changpeng Zhao said that the regulator's decision meant the market cap of the token would decrease over time. On Wednesday, the value of all Binance USD was around $10.5 billion, down from $16.1 billion on Feb. 13, according to market tracker CoinGecko. The Financial Times reported on Wednesday that investors have pulled more than $6 billion out of the Binance-branded token in the past month, citing data from blockchain analytics firm Nansen. Analysts said the NYDFS move represented a setback in Binance's efforts to gain market share from larger stablecoins.

☆ Crypto: Regulators are cracking down as FTX fallout casts a shadow over digital assets
▼ + stars: | 2023-02-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —When FTX collapsed in November, it was a seismic event for the crypto industry. On Monday, New York regulators ordered blockchain firm Paxos to stop issuing BUSD, aka Binance USD, citing “several unresolved issues” related to Paxos’ oversight of its relationship with crypto exchange Binance. Investors typically buy them to store money and facilitate deals within the cryptocurrency infrastructure, making them a bedrock of the crypto ecosystem. “Regulation by enforcement is puzzling for crypto enthusiasts,” said Marcus Sotiriou, market analyst at digital asset broker GlobalBlock, in a note. In January, regulators warned US banks and other market participants about the risks of fraud, volatility, and shoddy risk management in the crypto world.

☆ BUSD: US regulator orders Paxos to halt new issues of Binance-branded stablecoin
▼ + stars: | 2023-02-14 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —New York’s top financial regulator has ordered a crypto company to stop minting a major stablecoin, widening a clampdown on the embattled digital assets sector. Paxos also said it would “end its relationship” with Binance, the world’s largest crypto exchange. It did not say why the regulator had ordered it to stop issuing BUSD. Last week, the US Securities and Exchange Commission said overseeing crypto assets was a key priority for 2023. According to crypto advocates, the growing global clampdown could undermine the ecosystem for digital assets.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin dips post-jobs report, and Core Scientific to hand over rigs to pay debt: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew Thurman, head of content at Nansen, discusses the analytics firm's research on liquid staking and what to expect from the Ethereum network's next upgrade.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin hovers near $24,000, and judge dismisses lawsuit against Coinbase: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew Thurman, head of content at Nansen, discusses the blockchain analytics firm's recent research on trends and the impact of the FTX collapse on the industry.

At stake is whether EU vessels have the right to catch snow crab, whose meat is considered a delicacy by gourmets in Japan and South Korea, in the same way than Norwegian vessels do. "If the Supreme Court thinks the Svalbard treaty applies, it is not only about snow crab, it will be about oil, gas, minerals and fish," he told Reuters. In a sign of the importance the case has for Norway, 16 Supreme Court judges were present on Tuesday to hear arguments during the four-day session. "The key question here is the Svalbard Treaty and the surrounding areas," Hallvard Oestgaard, representing the Latvian fishing firm, told the court in his opening statement. In 2019 the Supreme Court ruled unanimously that EU fishermen must ask permission from Oslo to catch snow crab, after the same Latvian fisheries company had tried to fish off Svalbard with only an EU licence.

☆ These are the most important executives who joined Google Cloud in 2022 — and the ones who left
▼ + stars: | 2023-01-19 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +10 min

Below is a list of the key executives who left Google Cloud in 2022 — and the most important new hires. At Google Cloud, Gearhart was responsible for the Google Cloud Platform and Google Workspace channel business around the world, according to her LinkedIn profile. Exit: Frank BienBien, a Looker vice president, left Google Cloud in February, two years after Google acquired the data-analytics company for $2.4 billion. A nearly 20-year Microsoft veteran, Jester joined Google Cloud in 2019 as part of an executive hiring spree initiated by Kurian, who had recently taken the helm of Google Cloud. Hire: Kevin MandiaMandia, Mandiant's CEO and cofounder, joined Google Cloud in September after Google completed its $5.4 billion acquisition of his cybersecurity firm.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Binance's native BNB token plunges to lowest since July as concerns mount about withdrawals, FTX ties
▼ + stars: | 2022-12-16 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Binance's Co-founder & CEO Changpeng Zhao has given several interviews discussing the outlook for cryptocurrency following a turbulent couple of weeks in the market. The latest issue looming over Binance is FTX's bankruptcy proceedings. In exiting its equity position in the company last year, Binance received payment equal to roughly $2.1 billion. Binance's native token, BNB, has fallen 15% in the past week, including a drop of over 6% in the past 24 hours. BNB, first minted in 2017, is the world's fifth most valuable cryptocurrency, with a market cap of about $39 billion, according to CoinMarketCap .

☆ Read the full memo the CEO of Binance sent to staffers after the exchange was hit by more than $1 billion of withdrawals in a day amid the FTX fiasco
▼ + stars: | 2022-12-15 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Shortly after jittery investors withdrew over $1 billion from Binance on Tuesday, its CEO sent a memo to staffers. Changpeng "CZ" Zhao seemed to try to assuage market fears amid the implosion of crypto peer FTX. In the memo, CZ wrote Binance expects "the next several months to be bumpy." Some days we have net withdrawals; some days we have net deposits. Read the full memo Changpeng "CZ" Zhao sent to staff on Tuesday.

LONDON/SINGAPORE, Dec 14 (Reuters) - The head of major crypto exchange Binance said on Wednesday deposits were returning, a day after it saw heavy outflows of cryptocurrencies and halted some stablecoin withdrawals. On Tuesday, blockchain data firm Nansen said Binance saw withdrawals of $1.9 billion in 24 hours, the largest such outflow since June. loadingBinance, the world's largest crypto exchange, also temporarily halted withdrawals of the major USDC stablecoin, citing a so-called "token swap". "Things seem to have stabilised," CEO Changpeng Zhao tweeted. How crypto exchanges such as Binance and its now-bankrupt former rival FTX handle customer deposits has come under close scrutiny from users, regulators and policymakers.

☆ Binance withdrawals jumped to $3 billion in 24 hours, Nansen says
▼ + stars: | 2022-12-14 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Investors withdrew as much as $3 billion from Binance on Tuesday, according to blockchain analytics firm Nansen, as a deluge of negative headlines about the cryptocurrency industry rattled users of the world’s largest exchange. Andrew Thurman, content lead for Nansen, told CNN that at its peak, Binance saw “as high as $3 billion in net outflows” over a 24-hour period. Binance CEO Changpeng Zhao said that the exchange had at one point seen “some withdrawals” of roughly $1.1 billion. The founder of Binance’s one-time competitor, Sam Bankman-Fried, was arrested in the Bahamas this week after US prosecutors filed criminal charges against him. On Tuesday, Bankman-Fried was indicted in the United States on eight criminal charges including wire fraud and conspiracy.

☆ Spooked investors have pulled billions of dollars off Binance. Data suggests fears may be overblown
▼ + stars: | 2022-12-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Investors have been pulling billions of dollars of funds off Binance amid growing scrutiny over the crypto exchange's reserves. On Tuesday afternoon, more than $6.6 billion in crypto had left the exchange over a 24-hour period, according to Nansen. This has investors spooked about the health of Binance in the wake of former competitor FTX's spectacular downfall, which ended Tuesday with CEO Sam Bankman-Fried's arrest and indictment . It remains to be see how wide the damage done by FTX spreads in the crypto market. Clara Medalie, research director at crypto data firm Kaiko, said liquidity on Binance has stayed stable and bitcoin's market depth is holding steady.

☆ Binance CEO says deposits are 'coming back in' but sees 'bumpy' road ahead for the crypto firm
▼ + stars: | 2022-12-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

His comments come after Binance temporarily halted withdrawals of the USDC stablecoin on Tuesday, while it carried out a "token swap." The episode left investors on edge, particularly after the collapse of crypto exchange FTX and subsequent arrest of its founder Sam Bankman-Fried, who is facing federal criminal charges. Blockchain analytics firm Nansen said on Tuesday that there have been more than $3 billion of net withdrawals from Binance over the last seven days. But the Nansen CEO Alex Svanevik said the situation is different to FTX, which saw withdrawals to the "tune of multi-billion dollars." Svanevik noted that Binance has around $60 billion worth of assets on its exchange, of which the withdrawals represent a small proportion.

☆ Binance temporarily halted withdrawals of stablecoin USDC as investor concerns mount after FTX collapse
▼ + stars: | 2022-12-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Binance, the world's largest cryptocurrency exchange, paused withdrawals of the stablecoin USDC on Tuesday while it carried out a "token swap." USDC withdrawals were resumed about 8 hours after Binance first announced the pausing of withdrawals. Binance said earlier on Tuesday it had "temporarily paused" USDC withdrawals while it does a "token swap." Changpeng Zhao, CEO of Binance, tweeted that the exchange is seeing an increase in withdrawals of USDC, a cryptocurrency known as a stablecoin because it is pegged one-to-one with the U.S. dollar . If traders are withdrawing USDC from Binance, it could be to move it onto another platform.

In this article BTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTKris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty ImagesKris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. While no evidence has emerged of wrongdoing at Crypto.com, Marszalek's business history is replete with red flags. Over the course of 2008 and 2009, Marszalek and his partner were transferred nearly $3 million in payments from Starline, according to the documents. As a result, when the bank forced Starline into liquidation, Marszalek and his partner were forced into bankruptcy as well.

related investing news Cathie Wood's ARK Invest keeps buying more crypto assets despite FTX bankruptcy Crypto.com is smaller than FTX but still ranks among the top 15 global exchanges, according to CoinGecko. Kris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Marszalek has spent the early part of the week trying to reassure users and regulators that the business is fine. FTX CEO Sam Bankman-Fried said his company's assets were "fine" two days before he was desperate for a rescue because of a liquidity crunch. Marszalek said on Monday that this was just a reflection of the assets Crypto.com customers were buying.

☆ Crypto.com CEO downplays FTX contagion fears, says he’ll prove naysayers wrong as withdrawals rise
▼ + stars: | 2022-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

"We do not run a hedge fund, we do not trade customers' assets. Alameda Research, FTX's sister company, borrowed billions in customer funds from the exchange to ensure it had enough funds on hand to process withdrawals, CNBC reported Sunday. Bankman-Fried declined to comment on allegations of misappropriating customer funds but said its recent bankruptcy filing was the result of issues with a leveraged trading position. Asked about this Monday, Marszalek said this was just a reflection of the assets Crypto.com customers were buying. Crypto.com has 70 million users globally and made revenues of $1 billion annually in both 2021 and 2022, according to Marszalek.

☆ FTX collapse being scrutinized by Bahamas authorities
▼ + stars: | 2022-11-13 | by ( Jasper Ward | ) www.reuters.com time to read: +4 min

[1/3] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloNASSAU, Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny from government investigators in the Bahamas, who are looking at whether any "criminal misconduct occurred," the Royal Bahamas Police said on Sunday. Bankman-Fried had transferred $10 billion of customer funds to his trading company, Alameda Research, the sources said. Blockchain analytics firm Nansen said on Saturday it saw $659 million in outflows from FTX International and FTX U.S. in the preceding 24 hours. In its bankruptcy petition, FTX Trading said it has $10 billion to $50 billion in assets, $10 billion to $50 billion in liabilities, and more than 100,000 creditors.

Search resuls for: "Nansen"

25 mentions found