Cristiano Ronaldo Faces $1 Billion Lawsuit Over Binance Cryptocurrency Promotion
Cristiano Ronaldo is facing a class-action lawsuit worth $1 billion in relation to his commercial partnership with cryptocurrency exchange Binance. The lawsuit, filed in a Miami court, alleges that Ronaldo promoted and participated in the sale of unregistered securities with Binance. The lawsuit is seeking to represent consumers who purchased unregistered securities from Binance, and Ronaldo is accused of soliciting investments in unregistered securities by encouraging his millions of followers to invest with the platform. The lawsuit adds to a growing list of legal issues for Binance, including a recent $4.3 billion settlement with US prosecutors.
After Binance’s settlement, Coinbase and Bybit are the main beneficiaries
Kaiko research analyst Riyad Carey stated that after Binance reached a $4 billion settlement with US authorities last week, its competitors Coinbase and Bybit became the main beneficiaries. Carey said that Coinbase's stock price had already performed well in November, and the Binance settlement agreement pushed COIN's performance up by more than 75% that month. Carey added that in terms of market share after the settlement agreement was announced, Bybit was the "direct outstanding winner" for Bitcoin, as it has the highest trading volume for non-stablecoins. Binance's market share temporarily dropped by 4% at times, while Bybit rose by 50% and Coinbase rose by 34%.
Binance Adds GFT, COS, and SYS to Margin Trading, Introduces New Trading Pairs
Binance has expanded its margin trading sector by adding three new altcoins: Game Fantasy Token (GFT), Contentos (COS), and Syscoin (SYS). These new assets are available for margin trading, and Binance has also introduced new trading pairs designed for cross-margin trading. The addition of these assets and pairs demonstrates Binance's commitment to offering a diverse range of trading options and improving the user experience. Additionally, Binance has recently announced plans to list the BLUR cryptocurrency token, which has generated significant interest in the trading community.
Binance destroys nearly 4 billion LUNC in 16th batch of LUNC burn
Binance destroyed nearly 4 billion Terra Luna Classic (LUNC) tokens in the 16th batch of LUNC destruction.
Binance DeFi staking mining will stop providing BTC and ETH current DeFi mining products
Binance DeFi staking and mining will stop offering BTC and ETH current DeFi mining products at 14:00 on December 5, 2023 (GMT+8), and will no longer provide subscription services.
New GFT assets and more trading pairs for currency security positions and isolated margins
Binance Safe Vault and Cross-Margin Added GFT Assets, and more Full-Margin Leveraged Trading Pairs.
Binance successfully pilots first three-party cryptocurrency agreement
Binance has announced that it has successfully executed the world's first cryptocurrency tripartite agreement with a third-party banking partner. This solution enables institutional investors to custody assets with a third-party banking partner in the form of legal equivalents such as treasury bills, and also allows them to earn additional asset income.Binance stated that it is currently the only cryptocurrency exchange that provides such a solution. The solution connects the traditional market and the cryptocurrency market, directly addressing the counterparty risk issues that institutional investors are most concerned about. It replicates the framework commonly seen in traditional financial markets, allowing investors to allocate cryptocurrency assets in proportion to their risk tolerance.
Binance Launches Pilot Program Allowing Banks to Store Trading Collateral Off-Exchange
Binance has launched a pilot program that enables banks to store trading collateral off-exchange, which the company claims will reduce counterparty risk. Institutions can hold collateral at a third-party bank instead of depositing it to the exchange, allowing them to earn yield while they trade. Binance executive Catherine Chen stated that the exchange has been developing the program for over a year and plans to expand it further in the future. The program replicates a framework common in traditional financial markets, enabling investors to proportion their crypto-asset allocation based on their risk tolerance.
Wallet 0x2b51 withdrew 1.55 million IDs from Binance and OKX
Data monitored by Lookonchain shows that many wallets are withdrawing ID from exchanges and preparing to deposit them into Upbit, due to the listing of ID on Upbit. Wallet "0x2b51" has withdrawn 1.55 million ID (worth $501,000) from Binance and OKX, and is preparing to deposit them into Upbit.
Binance flash exchange trading platform launches new assets BEAMX and VIC
According to an official announcement, Binance's instant exchange platform has launched new assets BEAMX and VIC. Users can now exchange BEAMX and VIC for BTC, USDT, or other supported tokens on the instant exchange platform without any transaction fees.
