Category Archives: Binance
Binance to Remove This Shiba Inu Spot Trading Pair – The Crypto Basic
Leading crypto exchange Binance announces plans to delist a trading pair associated with dog-themed token Shiba Inu (SHIB).
According to a blog post today, Binance will remove the SHIB/TUSD trading pair effective on June 28 at 03:00 AM (UTC).
The decision aligns with the exchanges periodic reviews of all listed spot trading pairs to guarantee users protection. Following these reviews, the exchange usually delists trading pairs with low liquidity and volume. Consequently, it has decided to delist the SHIB/TUSD pair due to its low volume or liquidity.
Data from Binance shows that the SHIB/TUSD pair has a minimal 24-hour trading volume of $17,577, which equates to over 992 million SHIB tokens.
Binance noted that it plans to terminate spot trading bot services for SHIB/TUSD on June 28. Hence, users are advised to update or cancel their trading bot for SHIB/TUSD to avoid incurring potential losses.
It bears mentioning that this is not the first time Binance has removed a Shiba Inu trading pair. Last year, the top exchange removed the SHIB/BUSD margin pair, as part of plans to discontinue support for the BUSD stablecoin.
Despite the upcoming removal of SHIB/TUSD, Binance will continue to support eight other Shiba Inu trading pairs, such as SHIB/USDT, SHIB/FDUSD, SHIB/USDC, SHIB/EUR, SHIB/TRY, SHIB/BRL, SHIB/DOGE, and SHIB/JPY. This suggests that Binance users can still trade SHIB on the aforementioned pairs.
Besides SHIB/TUSD, Binance also revealed plans to delist other crypto spot trading pairs on June 28 at 03:00 AM (UTC). The affected pairs include BLUR/FDUSD, MEME/ETH, LINK/TUSD, OSMO/BTC, NFP/BNB, and METIS/FDUSD.
Meanwhile, the decision did not have a negative impact on SHIBs price action. At press time, SHIB was changing hands at $0.00001750, with a 24-hour increase of 0.63%. The token, which was plagued by the recent market downturn, currently boasts a trading volume of $355.51 million.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Binance to Remove This Shiba Inu Spot Trading Pair - The Crypto Basic
Shiba Inu Issues Important Notice Regarding SHIB Listing on Binance – The Crypto Basic
Lucie, the Shiba Inu ecosystem marketing lead, addresses widespread misconceptions about the recent decision from Binance to remove a SHIB trading pair.
For context, yesterday, Binance announced plans to delist seven spot crypto trading pairs, including SHIB/TUSD, on June 28 at 03:00 AM (UTC).
The exchange claimed its latest review shows that the affected trading pairs have low liquidity and trading volume. As a result, it decided to remove them to protect users.
Notably, some crypto media outlets reported the news as though Binance was delisting Shiba Inu from its platform.
Reacting, Lucie characterized these reports as click-bait, clarifying that Binance is not entirely delisting Shiba Inu. She emphasized that the decision indicates that the top exchange is only removing the SHIB/TUSD trading pair.
Furthermore, the marketing lead encouraged Shiba Inu community members to always verify information from reliable sources before forming conclusions.
The notice aligns with further statements issued by Binance. According to Binance, the removal of the SHIB/TUSD trading pair does not affect the tokens availability on the exchange.
It added that users can continue trading the quote and base assets of the delisted pairs via other supported pairs.
With Binance declaring plans to remove SHIB/TUSD tomorrow at 03:00 (UTC), the exchange will be left with eight Shiba Inu spot trading pairs. They include SHIB/USDT, SHIB/FDUSD, SHIB/USDC, SHIB/EUR, SHIB/TRY, SHIB/DOGE, SHIB/BRL, and SHIB/JPY.
Meanwhile, this is not the first time that Lucie has debunked rumors of Shiba Inus delisting from Binance. Recall that shortly after Binance announced the removal of SHIB/BUSD and 22 other cross-margin pairs, some media platforms claimed that Binance was delisting Shiba Inu.
This malicious claim stirred reactions from Shiba Inu enthusiasts, including Lucie, who clarified that Binance is not delisting SHIB.
In the meantime, Shiba Inus price is still on massive decline due to the ongoing bloodbath across the broader crypto market. The dog-themed token has witnessed a daily loss of 3.96%, with a unit priced at $0.00001691.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Shiba Inu Issues Important Notice Regarding SHIB Listing on Binance - The Crypto Basic
Binance To Shift UAE Operations To Local Exchange Binance FZE – Watcher Guru
Binance, a prominent cryptocurrency exchange, has come under fire for several reasons over the last couple of years. This, however, hasnt stopped the exchange from expanding and exploring. Recently, the firm announced that Dubais Virtual Assets Regulatory Authority has granted it a Virtual Asset Service Provider [VASP] license. This license is specially for Binance FZE, the companys local exchange in Dubai.
The exchange said that citizens of the United Arab Emirates will need to go through a transition procedure from Binance Global to Binance FZE. Only once the KYC information is provided will this be feasible. Residents of the UAE will get an email requesting that they provide the necessary paperwork. This must be completed by December 15, 2024.
Binance announced that it has received a Virtual Asset Service Provider (VASP) licence from Dubais Virtual Assets Regulatory Authority (VARA) for its local exchange in Dubai, Binance FZE. All UAE resident users will gradually be contacted via email to update their KYC
Users dont have to worry about losing access to their existing accounts because the process is straightforward. Users can continue using Binance Globals services up until the above-mentioned deadline. The users accounts will then switch to Binance FZE after this date, but their UID number and login information wont change. This includes passwords and email.
Also Read: Binance Fined $2.25 Million By Indian Financial Authorities
There are around 188 million users on the cryptocurrency exchange at the moment. This surpasses its competitor, Coinbases 108 million user base. With big dreams for the exchange, Binance CEO Richard Teng took over from Changpeng Zhao in November. He expects that the company will surpass 200 million users worldwide sooner rather than later. He said,
Were seeing much greater institutional adoption and institutional money coming into this space [on] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investors classes.
Also Read: Binance Coin: How Much BNB Does CZ Hold?
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Binance To Shift UAE Operations To Local Exchange Binance FZE - Watcher Guru
Binance CEO Advises Newbies on Crypto Investments – Crypto Times
Binance CEO Richard Teng offered guidance to beginners in the cryptocurrency market. In the latest post on X, Teng stressed that it is high time to know the basics of blockchain, invest a lot of time in research, and begin with small amounts of money on reliable Internet platforms.
According to his understanding, Teng noted that new users must understand blockchain and cryptocurrencies. He claimed that investors are enabled to make the correct decisions and deal with the convolutions of cryptocurrencies.
Teng recognizes undertaking extensive research and recommends investors do their research on different blockchain networks through DYOR or Do Your Own Research which empowers any person to determine the viability and authenticity of numerous crypto assets.
According to Teng, first-time crypto investors should start slowly by investing small amounts in reliable trading venues enabling learners to get familiar with market conditions and reduce risk-taking potential adequately.
Teng argues that through small investments, people can gradually develop their skills in the investment process. He pointed out that it is crucial to venture into developments in already existing structures that are secure and compliant with the set legal standards to help protect investments.
Also Read: Binance CEO Richard Teng terms Bitcoin Halving 2024 unique
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Binance CEO Advises Newbies on Crypto Investments - Crypto Times
Brazil to Summon Binance, Coinbase, Seeking Info on Local Operational Collaborations – Cryptonews
Last updated: June 19, 2024 03:05 EDT | 1 min read
Brazils tax department is reportedly calling out some of the major international crypto exchanges, seeking information on their operations and collaborations with local crypto service providers.
International crypto exchanges include Binance, Coinbase, OKX and KuCoin, which are not based in Brazil, but operating in the nation.
The countrys tax authorities told Reuters on Wednesday, that it would publish an ordinance this week, summoning these exchanges to furnish operational information.
Andrea Chaves, deputy secretary of inspection at Brazils revenue service noted that the move is to understand how these exchanges operate in Brazil and whether Brazilians follow its new tax regime.
Its an area of concern for us to understand first how they operate here, whether theres any illegality or not. We are also concerned about having information on Brazilian wealth subject to taxation here.
The Brazilian government also wants to learn how Binance, Coinbase and other foreign exchanges cooperate with crypto local service providers. For instance, Binance, the worlds largest cryptocurrency exchange, launched a Binance Card in Brazil in partnership with payment giant Mastercard, last year.
Binance also noted that Brazil is one of Binances biggest markets. Guilherme Nazar, as General Manager of Binance Brazil noted at the time that the country is very relevant market for Binance and that the company will continue to invest in new services for local users.
The move comes at a time when Brazil is having one of the highest cryptocurrency adoption rates in Latin America.
A new Brazil Crypto Report from Metaco says a thriving fintech ecosystem has spurred the adoption of crypto. This has drawn more citizens into relationships with financial providers.
One in five Brazilians own cryptocurrency, and the country is projected to have digital asset revenues of $1.5 billion by 2027, the report added.
Last year, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, which is over 36% increase from 2022, the countrys revenue service data noted.
Further, Brazils Central Bank and the Securities and Exchange Commission of Brazil (CVM) are working on regulating the cryptocurrency market. The regulation aims to protect consumers and combating financial crimes.
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Brazil to Summon Binance, Coinbase, Seeking Info on Local Operational Collaborations - Cryptonews
Justin Sun Deposits $23.4M In DeFi Tokens To Binance, Including Major CRV Transaction – NullTX
In the past day, Justin Sun, the prominent cryptocurrency entrepreneur, deposited 6.22 million CRV tokens ($2.07 million) to Binance at a price of $0.333 per token.
Among these tokens, 5 million CRV were acquired from Curve founder Michael Egorov at an over-the-counter (OTC) price of $0.4 last August.
In addition to CRV, Sun also transferred another $333,000 worth of various assets to Binance. These assets included:
37,740 CVX ($125,000) 148,003 MATIC ($86,400) 29,332 GAL ($72,100) 106,864 WOO ($24,300) 62,500 PROS ($22,700) 17,562 TRU ($2,800)
Overall, Justin Sun has deposited a total of $23.4 million in 11 different tokens, primarily from the DeFi sector, to Binance over the past week. This substantial movement of funds highlights Suns significant activity in the cryptocurrency market and his strategic positioning in DeFi assets.
Curve Finance, the latest token to be deposited on a centralized exchange (CEX), experienced a 5% decline in value today. The deposit of CRV by such a high-profile figure could be seen as an indicator of broader market trends and sentiment.
Justin Suns notable transactions come at a time of heightened activity and volatility in the cryptocurrency market. His movements are often closely watched by traders and analysts, as they can influence market dynamics and provide insights into potential market directions.
As the market continues to react to these significant deposits, it remains to be seen how Justin Suns strategic positioning will impact the prices and perceptions of these DeFi tokens in the coming days.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Justin Sun Deposits $23.4M In DeFi Tokens To Binance, Including Major CRV Transaction - NullTX
ZKsync (ZK) Listing on Binance Postponed by Two Hours – Blockchain.News
Binance Delays ZKsync (ZK) Listing
According to a recent announcement from Binance, the trading start time for ZKsync (ZK) has been postponed by two hours. Originally scheduled for June 17, 2024, at 08:00 UTC, the new start time is now set for 10:00 UTC on the same day.
The delay was communicated through an official announcement on Binances website, which stated, The trading start time for ZKsync (ZK), originally set at 2024-06-17 08:00 (UTC), will be further postponed to 2024-06-17 10:00 (UTC). The notice did not provide specific reasons for the delay but assured users that the updated schedule would be adhered to.
Traders planning to engage in ZKsync (ZK) transactions on Binance will need to adjust their schedules accordingly. The two-hour delay may affect trading strategies, especially for those who had planned to make early moves based on the original start time.
ZKsync is a prominent Ethereum Layer-2 scaling solution that uses zero-knowledge rollups to enable faster and cheaper transactions. The listing of ZKsync (ZK) on Binance has been highly anticipated by the crypto community, given the platforms growing popularity and the benefits it offers for scaling Ethereum-based applications.
The delay, while minor, highlights the importance of staying updated with exchange announcements. As the crypto market remains highly volatile, timely information can significantly influence trading decisions. Binances announcement also included standard disclaimers about market risks and the need for users to make informed investment decisions.
For the official announcement, visit Binance.
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ZKsync (ZK) Listing on Binance Postponed by Two Hours - Blockchain.News
Binance Expands ZKsync (ZK) Offering to Earn, Margin, and Futures – Blockchain.News
Binance, a leading cryptocurrency exchange, has announced the addition of ZKsync (ZK) to its Simple Earn, Margin, and Futures platforms. This update aims to provide more trading options for users and enhance the overall trading experience on the platform, according to Binance.
Starting from June 17, 2024, ZKsync (ZK) has been integrated into Binance Simple Earn. This service allows users to earn rewards on their cryptocurrency holdings in a simplified manner. Users can now opt to earn passive income by holding ZK in their Simple Earn accounts.
In addition to Simple Earn, ZKsync (ZK) is now available on Binance Margin. The cryptocurrency has been added as a borrowable asset on both Cross and Isolated Margin. Users can trade the ZK/USDT pair on these margin platforms starting from June 17, 2024, at 11:00 (UTC). This addition expands the borrowing and trading options available to margin traders.
Binance Futures has also launched the USD-M ZK Perpetual Contract, allowing users to trade with up to 50x leverage. The contract went live on June 17, 2024, at 11:00 (UTC). The maximum funding rate at launch is set at +2.00% / -2.00%, with a funding fee settlement frequency of every four hours.
Binance noted that it might adjust the specifications of the ZKUSDT Perpetual Contract based on market risk conditions. These adjustments could include changes to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Furthermore, the Multi-Assets Mode allows users to trade the ZKUSDT Perpetual Contract across multiple margin assets, subject to applicable haircuts. For instance, users can use BTC as margin when trading the ZKUSDT Perpetual Contract.
The ZKUSDT Perpetual Contract is subject to Binance's Terms of Use and the Binance Futures Service Agreement.
Binance has provided additional resources and guides for users who wish to learn more about the new offerings. Users are encouraged to check the Margin Data for the most updated list of marginable assets and further information on specific limits, collateral ratio, and rates.
As always, Binance reminds users to exercise caution when trading digital assets due to high market risk and price volatility. Users should consider their investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment decisions.
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Binance Expands ZKsync (ZK) Offering to Earn, Margin, and Futures - Blockchain.News
Binance to Delist LINA/BTC Margin Trading Pair on June 19, 2024 – Blockchain News
Binance, a leading cryptocurrency exchange, has announced it will delist the LINA/BTC Cross and Isolated Margin trading pair, effective June 19, 2024, at 06:00 (UTC). This decision is part of Binance's ongoing effort to optimize its trading offerings and ensure a robust trading environment, according to Binance.
Starting June 18, 2024, at 10:00 (UTC), Binance Margin will suspend isolated margin borrowing for the LINA/BTC pair. Subsequently, on June 19, 2024, at 06:00 (UTC), Binance will close all users' positions, conduct an automatic settlement, and cancel all pending orders on the LINA/BTC Cross and Isolated Margin pair. Afterward, the pair will be removed from the Margin platform.
Users are advised to close their positions and transfer their assets from Margin Wallets to Spot Wallets before the delisting takes effect to avoid potential losses. Binance emphasized that users will not be able to update their positions during the delisting process and will not be held responsible for any losses incurred during this period.
Despite the delisting of the LINA/BTC pair, users can still trade LINA and BTC through other available trading pairs on Binance Margin. The exchange reassures that this move is aimed at maintaining a streamlined and efficient trading experience for its users.
Binance reiterated the importance of understanding the risks associated with margin trading. The exchange highlighted that digital asset prices are subject to high market risk and volatility. Users are urged to make informed trading decisions and consult independent financial advisers if necessary.
For more information, users can refer to Binance's Terms of Use and Risk Warning pages.
Binance remains committed to providing a secure and efficient trading environment, continuously assessing and adjusting its offerings to meet the needs of its global user base.
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Binance to Delist LINA/BTC Margin Trading Pair on June 19, 2024 - Blockchain News
Binance Margin Expands Trading Options with New FDUSD, USDC, and USDT Pairs – Blockchain News
Binance, one of the world's leading cryptocurrency exchanges, has announced the addition of new trading pairs for FDUSD, USDC, and USDT on its Margin platform. These pairs will be available on both Cross and Isolated Margin, according to an official announcement from Binance.
The introduction of these new pairs is part of Binance's ongoing efforts to enhance the user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform. This move aims to provide users with greater diversification of their portfolios and increased flexibility in their trading strategies.
By adding FDUSD, USDC, and USDT pairs, Binance Margin seeks to offer more options for traders looking to leverage their positions and diversify their investments. The specific pairs added include:
Binance has also provided notes for users to consider:
Binance reserves the right to amend or cancel this announcement at any time without prior notice. Users are encouraged to stay informed about the latest updates directly from Binance's official channels.
Binance has issued a disclaimer regarding the high market risk and price volatility associated with digital assets. The value of investments may fluctuate, and users are solely responsible for their investment decisions. Binance is not liable for any losses incurred.
Investors are advised to carefully consider their investment experience, financial situation, investment objectives, and risk tolerance. Consulting an independent financial adviser is recommended before making any investment decisions. This material should not be construed as financial advice.
For more information, users can refer to Binance's Terms of Use and Risk Warning pages.
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Binance Margin Expands Trading Options with New FDUSD, USDC, and USDT Pairs - Blockchain News