• Hacked crypto exchange sues Binance
    Cryptocurrencies

    Hacked crypto exchange sues Binance for allegedly laundering the stolen funds

    Japanese cryptocurrency exchange Fisco claims that Binance “either intentionally or negligently failed to interrupt the money laundering process when it could have done so.”

    Calling Binance the “‘go-to’ location for cybercriminals to convert purloined cryptocurrency to other cryptocurrency,” Fisco’s complaint alleges that the thieves who stole $63 million in bitcoin, bitcoin cash, and monacoin laundered approximately $9.4 million of it through Binance.

  • Binance launches staking service
    Alt coins

    Binance launches staking service amid DeFi Craze

    Binance will distribute 5% of the total supply of decentralized finance ecosystem Bella Protocol (BEL) to users who stake Binance Coin, Binance USD or Arpa Chain tokens on its exchange

    On Sept. 9, Binance’s new “Launchpool” service will allow users to earn newly launched tokens by staking the exchange’s crypto asset Binance Coin (BNB), its stablecoin Binance USD (BUSD) or the token of data renting protocol Arpa Chain (ARPA).

  • CBInsights Fintech 250 snubs crypto
    Cryptocurrencies,  Media

    Just seven crypto companies make CBInsights’ Fintech 250

    It’s a disappointing showing for the booming crypto sector—but the usual suspects including Coinbase and Binance still have a place in the list

    Coinbase topped the Fintech 250 list released on Sept. 1 as the most-funded business in the crypto category. Given how rumors have been swirling of a potential stock market listing—potentially as early as this year—it’ll likely be one to watch.

  • Binance investor Weixing Chen sues
    Cryptocurrencies

    Early Binance investor sues claiming shares undervalued

    Investor Weixing Chen claims the exchange is not offering a fair price for his shares

    Chen claims that the firm is only willing to provide a valuation equivalent to its one-year profit—$500 million to $1 billion—which he believes that this is a gross undervaluation of the company. The report cites U.S. crypto exchange Coinbase and its 2018 valuation of $8 billion as data that backs this idea.

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