Justin Sun has deposited a substantial amount of money back into Binance after the exchange’s outflow rapidly hit $1.8 billion.
The DOJ investigation showed that CZ had kept the financial records of Binance from the public.
Some users complained regarding the compromise in API keys, however, Binance has denied it stating that the funds are SAFU.
Binance US may have established itself as an industry leader when it comes to low fees in crypto.
Binance CEO Changpeng Zhao disclosed that his exchange is overwhelmingly dependent on transaction fees for revenue generation.
Both Ambit Finance and Binance Labs will work together on launching future DeFi apps with a focus on innovation, security, and risk control.
Binance’s Proof-of-Reserve system comes with a Merkle Tress solution for users to check whether Binance has included their accounts in the snapshot of user balances.
However, Binance’s new initiative hasn’t shown any positive impact on the crypto space yet.
Drawing on his Chinese origins, CZ has had to combat the wrong notion that the trading platform has any ties to the Chinese government.
The Binance chief said that they are willing to allocate more to the recovery fund if required. He added that different industry players can also contribute as they wish.
Leading crypto exchange Binance has announced the Hooked Protocol (HOOK) on its Launchpad with sales beginning soon.
Binance.US recently hired Krishna Juvvadi as head of the legal department, who was also Uber’s chief regulatory counsel and first regulatory attorney.
With more assets moving into Binance, market sentiments may suggest that investors believe Binance to be safe.
The alleged lack of transparency from Binance in the investigation is poised to influence upcoming UK crypto regulations.
Binance is also looking at acquiring the Genesis Trading loan book, which may come off as a major relief to the company’s parent firm, Digital Currency Group (DCG).