The audited financial reports released by Binance France revealed a loss of €4 million in 2022.
Binance (BNB) News
Discover the latest breaking news and price updates of Binance (BNB) coin.
Binance Labs' $10 million investment in Radiant Capital led to a 10% hike in the DeFi lender's RDNT token.
Binance slashed employee benefits last month due to declining profits. CEO Changpeng Zhao assured the employees that his company was still profitable.
Binance Labs has committed $15 million to web3 gaming startup Xterio. The funds will be used to accelerate Xterio's game development and incubation as well as the launch of its token.
Binance's top executives including the Chief Strategy Officer and General Counsel, have quit the company. The executives blamed their departure at CEO Changpeng Zhao's handling of the investigation by the U.S. Department of Justice.
Binance has lost more than 10% of its spot market share in 2023. Meanwhile Binance US' market share has slipped below 1%. The recent regulatory crackdown and lawsuits by the CFTC and SEC have been blamed for the tanking market share.
Belgium's Financial Services and Markets Authority (FSMA) has ordered Binance to cease all operations and crypto services. The exchange has been ordered to return all crypto assets belonging to Belgian clients.
Binance US' banking partners have expressed their intention to suspend fiat (USD) withdrawals as soon as June 13, 2023. The crypto exchange has decided to suspend USD deposits today.
The D.C. District Court has summoned Binance CEO Changpeng Zhao in relation with the lawsuit filed against him by the SEC. Zhao has 21 days to respond to the complaint, failing which a default judgement will be entered against him.
The Ontario Securities Commission is probing Binance to determine if the crypto exchange attempted to evade local regulations.
Binance is reportedly exploring a plan to allow some of its institutional clients to keep their trading collateral at a bank instead of storing it on the trading platform.
Binance CEO Changpeng Zhao recently revealed that his company plans to make investments into several bank. By becoming a minority investors, the exchange will try to guide the banks towards crypto friendly policies.