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Binance Ordered To Seize Operations In Japan, Plans To Move HQ To Malta

Cryptocurrency exchange Binance is making plans to move its HQ to Malta after receiving a letter from the FSA dated March 23 and addressed to Binance CEO Changpeng Zhao, the letter has warned the exchange operator to cease operating in Japan without a license.

Zhao has confirmed that the exchange has received the letter and that Binance lawyers are in contact with the FSA to find a solution.

Currently Binance is based in Hong Kong, another area where they have clashed with regulators. In moving to Malta Binance plans to open its first fiat-to-cryptocurrency trading pairs, a move that will cement their status as one of the worlds largest trading platforms. This will also put them in direct competition with exchanges like Coinbase who also offer fiat-to-cryptocurrency transactions.

Zhao told Bloomberg “We are very confident we can announce a banking partnership there soon, Malta is very progressive when it comes to crypto and fintech.” As part of a recent push by Malta, Zhao was invited by the prime minister of Malta to review an upcoming bill that is intended to create a favorable climate for cryptocurrency companies.

 

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Binance

Binance got hacked for $40 Million Dollars in Bitcoin, is your money safe?

The short answer is Yes, your money is safe.
Fortunately, Binance was prepared and your money is safe in due to SAFU. Meaning the ‘Secure Asset Fund for Users’ will cover this completely. This is the very reason Binance is self-insured.

Technically speaking the Binance exchange itself was not hacked, it has officially been stated by Binance that a large number of API Keys, 2FA Codes, and other user info was acquired by said hackers utilizing techniques such as phishing, viruses and other types of digital attacks. This means that it was user accounts that were compromised by the users themselves and not Binance.

In an age where digital security is more important than ever, this is a stark reminder to keep your data safe and secure at all times.

TLDR About the Binance Hack:

• 7000 BTC was stolen
• The BTC was stolen from Binance’s Hot Wallet
• Binance’s Hot Wallet holds only 2% of their total holdings
• All funds are insured and do not affect users

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Binance

Interview with “CZ -The most powerful man in Crypto” talks Binance, Mining & Lifestyle

Here is @cryptomanran‘s recent interview with CZ, the founder & CEO of Binance, the largest and most powerful crypto exchange in the world. Is CZ the most powerful man in crypto right now? Comment below and let us know what you think!

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Binance

Binance Adds 7 Million Users Since Beginning Of The Year

While the cryptocurrency markets have been been in a steep decline the past 6 months, Binance has been growing at an extremely fast rate.

Binance, which operates the worlds largest crypto exchange has reported that their user base has quadrupled since January. According to Bloomberg, Binance now boast 9 million users, up from 2 million users reported in January.

Binance is also preparing to offer its first fiat trading pairs, which will be listed against the Euro. Currently the platform only offers crypto-to-crypto trading pairs. This will be an attractive option for investors looking for the ability to trade fiat for crypto.

Binance, currently based in Hong Kong has also opened an office in Malta. Malta has recently become extremely crypto friendly by passing legislation to encourage growth in crypto and blockchain tech.

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