Binance Labs invests in BounceBit to transform Bitcoins role with innovative solutions.

Binance Labs, the venture capital and incubation division of Binance, hasinvestedin BounceBit, a Bitcoin restaking and centralized decentralized finance (cedefi) protocol.

BounceBit unlocks new avenues for Bitcoins utilization with the fusion of cefi and defi.

He also emphasized Binance Labs commitment to supporting innovators reshaping the industry with secure and transparent cedefi solutions.

BounceBitaims to transform Bitcoin from a passive asset into an actively engaged ecosystem component. By enabling Bitcoins participation in network validation and yield-generating activities without altering its blockchain, BounceBit introduces a novel approach to digital asset empowerment.

A seasoned team leads the protocol with diverse expertise across decentralized and traditional finance andlayer 1blockchain technology. Prioritizing security and transparency, BounceBit employs regulated custody and Multi-Party Computation (MPC) alongside innovative solutions like Ceffus Mirror X and off-exchange settlement to mitigate counterparty risks.

It is our mission to build restaking infrastructure to drive the utilization of Bitcoin in a secure and transparent manner. Our focus on cedefi and developing a robust restaking ecosystem is just the beginning.

With the backing of Binance Labs, BounceBit is set to explore new possibilities for Bitcoin (BTC). It aims to enhance yield generation and broaden its applications through a secure and efficient proof-of-stake (PoS) layer 1 ecosystem.

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Binance Labs invests in BounceBit to advance Bitcoin utilization - crypto.news

TL;DR

Bittensor (TAO) the biggest AI-related cryptocurrency in terms of market capitalization experienced a significant price boost in the past hour, rising by 15% and reaching a multi-week high of $690. However, it could not keep the momentum, currently trading at around $640 (per CoinGeckos data).

The resurgence happened shortly after Binance listed the asset on its platform, allowing trading services for the following pairs: TAO/BTC, TAO/USDT, TAO/FDUSD, and TAO/TRY.

The company explained that users can start depositing, while withdrawals will be available from April 12. TAO listing fee was set at 0 BNB.

Binance reminded that the AI-related cryptocurrency is a relatively new participant in the market, warning users to conduct proper due diligence before dealing with it:

Please ensure that you exercise sufficient risk management, have done your own research in regards to TAOs fundamentals, and fully understand the project before opting to trade the token.

The Artificial Intelligence coins niche has been highly popular lately, accounting for a total market cap of over $25 billion. Those willing to take a closer look at the top 5 tokens of that type can read our dedicated articlehere.

TAOs biggest rival Render (RNDR) recently witnessed a similar price rally following support from another leading cryptocurrency exchange. AsCryptoPotatoreported, Coinbase placed the asset on its roadmap section and later allowed trading services with it.

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This Popular AI Cryptocurrency Explodes by 15% Following Support From Binance - CryptoPotato

Timeline

Its been six weeks since Binance senior executives Tigran Gambaryan and Nadeem Anjarwalla were detained by Nigerian authorities after arriving in the nation to discuss the crypto exchangess operations.

While Anjarwalla, a UK citizen, managed to escape custody and flee the African nation on March 22, Gambaryans situation has worsened.

On Monday, the US citizen and head of Binances financial crime compliance unit pleaded not guilty to a money laundering charge and was remanded to a prison to await trial. His bail hearing is scheduled for April 18.

In a statement sent to DL News, a Binance spokesperson said the charge against Gambaryan was meritless.

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Its outrageous that he would be remanded in a prison such as Kuje Correctional Facility, the spokesperson said.

We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained.

Its rare for officers of global companies to be charged with financial crimes during visits to discuss problems with government officials. Then again, Binance doesnt behave like most international companies.

From the outset, the company has shunned getting licenced in nations where it offers its online services, and now that model is backfiring.

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Its outrageous that he would be remanded in a prison such as Kuje Correctional Facility.

Under co-founder Changpeng Zhao, Binance operated with a striking disregard for complying with the anti-money laundering and know-your-customer rules that have been de rigueur in finance for decades.

When Binance pleaded guilty in November to violating US banking law by permitting criminals and terrorist organisations to use its crypto exchange, it agreed to pay $4.3 billion to settle the case.

New CEO Richard Teng vowed to turn the page on the companys freewheeling past. But as the crisis in Nigeria shows, he has a lot of work to do.

Here is a timeline of the crisis so far:

DL News reports that Nigerian anti-corruption and security authorities have launched a wide-ranging investigation into Binances suspected facilitation of currency manipulation and illicit finance transactions on its platform. The countrys telecommunications regulator also blocks access to the crypto exchanges website.

DL News breaks the story that Nigerian authorities detain Gambaryan and Nadeem Anjarwalla, Binances Kenya-based regional manager, after talks break down.

Binance delists the naira from its platform and withdraws all of its services in Nigeria leaving its estimated 13 million users in the country scrambling for alternatives.

Nigerian court orders Binance to disclose user data for millions of customers to the authorities.

Aanjarwalla eludes his guards after a prayer service at a mosque in Abuja and uses his Kenyan passport to fly out of Nigeria.

Nigerias anti-corruption agency, the Economic and Financial Crimes Commission, charges Binance, Gambaryan, and Anjarwalla with money laundering and related charges.

Binance breaks its long silence on the case and tells DL News Gambaryan does not have decision-making authority and should not be held by Nigerian authorities.

Gambaryan appears in court for his arraignment but cannot enter a plea after Nigerian officials make procedural mistakes.

Gambaryan is transferred to an underground jail cell maintained by the EEFC.

Gambaryan pleads not guilty to five-count money laundering charge and is remanded to medium-security prison until his bail hearing on April 19.

Edward Robinson is the story editor at DL News. Contact the author at ed@dlnrews.com.

Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at osato@dlnews.com.

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How Binance angered Nigerian authorities and lost two executives to custody: A timeline - DLNews

BNB/USD Elliott Wave technical analysis

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave ((v)).

Direction next higher degrees:Wave 3.

Wave cancel invalid level: 287.5.

Details: Wave ((V)) is equal to wave ((1) at 734.4.

Binance is still in an uptrend in the formof an Impulse Wave and the price has a chance to test the734.4 level before correcting again. Therefore, the overall picture is still a continuous increase. Look for opportunities to open long positions.

Binance/U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.

Elliott Wave Analysis TradingLounge 4Hr Chart,

Binance/U.S. dollar(BNBUSD).

Function: Follow Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave ((v)).

Direction next higher degrees: Wave 3.

Wave cancel invalid level: 287.5.

Details: Wave ((V)) is equal to wave ((1) at734.4.

Binance is still in an uptrend in the form ofan Impulse Wave and the price has a chance to test the 734.4 level before correcting again. Therefore, the overall picture is still a continuous increase. Look for opportunities to open long positions.

Binance/U.S. dollar(BNBUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.

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Binance Elliott Wave technical analysis [Video] - FXStreet

TL;DR

The leading cryptocurrency exchange, Binance, continues implementing amendments to its platform to respond to current market trends and enhance users experiences.

Most recently, itadded 18 new loanable assets to Binance Loan. Some of the involved cryptocurrencies include the trending meme coins dogwifhat (WIF) and Pepe (PEPE), as well as popular altcoins such as Hedera (HBAR), IOTA (IOTA), Celestia (TIA), and more.

It also announced the addition of Saga (SAGA) and Tensor (TNSR) to its VIP Loan section. Both tokens saw the light of day earlier this week, with their market caps rising above the $200 million mark.

Binance Loans (Flexible Rate) is a service that allows users to borrow funds using their digital assets as collateral.

Users may enjoy greater flexibility without committing to a specific loan term when borrowing cryptocurrencies on Binance Loans (Flexible Rate) and earn Real-Time APR rewards via Simple Earn Flexible Products at the same time. Loan rates are refreshed every minute, and users may place a loan order with a minimum of 1 USDT equivalent, the company explained.

The company has unveiled many similar efforts since the beginning of the year. Last month, itaddedthe trading pairs PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY on Binance Spot, while Floki Inu (FLOKI) and 16 other altcoins wereintroducedas new loanable assets on Binance Loans.

Most recently, the firm opened trading and enabled Spot Algo Orders Trading Bots services for the USDT/MXN pair. MXN is the symbol of the Mexican peso (the national currency of the Latin American country).

Allowing such an option can simplify dealing with crypto for locals. For example, they can access the ecosystem of the stablecoin without having to convert their funds into USD.

Binance also regularly adds trading pairs focused on the Turkish lira, enabling locals to jump on the cryptocurrency bandwagon. Turks are quite intrigued in the digital asset sector, maybe because they are seeking financial alternatives to the economic challenges their homeland struggles with.

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Important Binance Announcement Affecting WIF and PEPE Traders - CryptoPotato

The new CEO of Binance, Richard Teng delivered a resounding message at the Paris Blockchain Week: compliance is not just a checkbox but a cornerstone of the exchanges ethos. With regulatory scrutiny intensifying, Tengs words underscore the imperative for crypto platforms to navigate the evolving landscape with integrity and accountability.

Tengs pledge to uphold rigorous regulatory standards reflects Binances proactive stance in engaging with authorities worldwide. His assertion, Our commitment extends beyond mere compliance, signals a strategic shift towards fostering trust and confidence among users.

While Binance mulls over its headquarters location, Teng remains tight-lipped, sparking speculation about potential domiciles. As Binance is facing multiple legal challenges, pressure is building to establish a physical base to mitigate investor risks.

Tengs remarks come amid the detention of Binance executive Tigran Gambaryan in Nigeria. The exchanges proactive engagement with Nigerian authorities underscores its commitment to resolving regulatory issues expediently.

Despite all these challenges, Teng remains optimistic about Binances trajectory, asserting that the exchange has overcome cultural challenges post-Justice Department settlement. Binance CEO Richard Teng has set the tone for transparency and compliance, emphasizing the exchanges commitment to regulatory standards.

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Binance CEO Reveals Crucial Information on Exchange Headquarters - Coinpedia Fintech News

Shiba Inus (SHIB) alternative cryptocurrency, Bone ShibaSwap (BONE), is still a few steps away from the much-anticipated Binance listing. However, the crusade to list Shibariums official gas fee token on the globes largest cryptocurrency exchange by trading volume is starting to bear fruit on Binances Futures NEXT.

Bone ShibaSwaps voting campaign has materialized in Binances nominated tokens pool, where BONE is placed in the 9th position. Since its inception over a month ago, Binance Futures NEXT has given SHIB Army members the opportunity to vote for BONEs inclusion in Binances Futures markets.

Users can nominate their preferred tokens for the Binance listing by depositing a new token in the NEXT pool. If one of the cryptocurrencies on Binances Futures NEXT leaderboard makes the listing, the voters are eligible to secure multiplied voucher rewards.

Currently, Bone ShibaSwap takes the 9th spot with 17,974 Picks. To acquire voting power, users have to deposit BONE onto the platform, while the rewards multiplier of 1.2x is implemented after the nominated token gets the listing. As of press time, 703 people have signed up for BONEs listing on Futures.

While BONE is now officially the gas fee token of Shibarium L2, the initial developer team renounced BONEs smart contract last year. This was said to increase BONEs chances of landing a Binance listing. With a capped max supply of 250,000,000, this raises the question of how Shibarium Layer-2 would handle the rising demand for millions of transactions per day, as BONE is required for Shibariums on-chain transfers.

Meanwhile, on March 26, 2024, Shibarium Layer-2s public blockchain soared to fresh heights in total value locked (TVL). Promising new projects like WoofSwap were onboarded in a coordinated crusade to boost Shiba Inus chain liquidity.

While the $3.9M TVL milestone is impressive, the vast majority of Shiba Inu custodians are putting their hopes in the ground-breaking K9 Finance decentralized application (dApp), which is due to launch in Q3 of 2024.

The K9 Finance program is crucial, as it employs BONE to provide simultaneous staking opportunities via the Liquid Staking Derivatives (LSD) technology. As seen on Lido Protocol and Rocket Pool on Ethereum (ETH), this type of staking model can dynamically diversify digital assets across different platforms to maximize potential revenue.

Bone ShibaSwap facilitates on-chain liquidity on Shibarium; therefore, its acceptance by major exchanges would contribute to a broader adoption of Shiba Inus own Layer-2 network.

Read DailyCoins latest crypto stories: Bitcoin Hits Record 65 Million Ordinals Inscriptions to Date How MetaMask Now Allows Users to Check Airdrop Eligibility

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Is Shiba Inu's BONE About to Be Listed on Binance Futures? - DailyCoin

Binance, the largest crypto exchange in the world by trade volume has introduced the Omni Network (OMNI) into its Launchpool marking a major shift in the project milestone. The latest addition has triggered conversations among the crypto community with many wondering about the potential impact of the move on the crypto community.

The crypto exchange giant made this announcement earlier today on its official website. According to the statement, Binance has introduced Omni Network (OMNI) as its 52nd addition to its Launchpool. For context, Omni Network is a layer 1 blockchain solution that is designed to incorporate Ethereums rollup ecosystem into a single system. It is a low-latency interoperability network that integrates Ethereum rollups through restaking.

Binance further disclosed that the webpage will be available about 5 hours before the start of the Launchpool. Once live, users will be able to farm OMNI tokens by staking theirBNB and FDUSD into separate pools. Additionally, users will be able to stake for over four days as the farming will start from 2024-04-13 00:00 (UTC).

Binance Launchpool is a platform that enables users to store their tokens in a liquidity pool. The platform allows members to stake their crypto assets to earn new tokens from new projects. So far, it has introduced 52 projects to this platform.

Meanwhile, Binance has said that it will list the OMNI token as a tradable asset on April 17 at 12:00 (UTC). The exchange warned users to disregard any claims to offer the token before the stated time. Upon listing, investors will be able to trade OMNI against other assets like BTC, USDT, BNB, FDUSD, and TRY.

According to tokenomics, OMNI has a maximum supply of one hundred million tokens with 3.5% or 3.5 million tokens allocated to Binance Launchpool rewards. The initial circulating supply is set at 10.39% or 10,391,492 OMNI tokens.

As Binance gears up to list OMNI on its platform, investors keenly keep an eye on the price movement of the token as several projects have exhibited exponential movements following listing on major exchanges.

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Binance Introduces Omni Network (OMNI) to its Launchpool Platform - Coinfomania

Binances modus operandi of operating in the legal gray area and eschewing traditional corporate practices appears to be ending.

On April 1, it was reported that the exchange had named its first board of directors. Now, Binance CEO Richard Teng has suggested that the firm is closing in on deciding on a global headquarters.

The mystery surrounding Binances base of operations has long been a persistent point of contention as the exchanges leaders have previously expressed abhorrence to committing to or disclosing a home base. This tactic, regulators believe, has allowed it to skirt regulations.

In a statement signaling that Binances days of playing it fast and loose with regulations are behind it, however, Teng has disclosed that the exchange is actively seeking a place to call home. Speaking on stage at Paris Blockchain Week on Tuesday, April 9, he noted that the exchanges checklist was down to a few jurisdictions.

Considerations highlighted by Teng included how regulations would impact Binances products and services, as well as taxation.

The Binance CEOs statements come as the exchange finds itself in regulators cross-hairs worldwide, from the U.S. to the Philippines and, most recently, Nigeria. During the Tuesday interview, Teng offered comments on the latter.

Over the past two months, tensions between the Nigerian government and Binance have quickly escalated. Following claims that the exchange facilitated the manipulation of the naira through its p2p platform, it has also been slapped with lawsuits bordering on tax evasion and money laundering.

Amid this back and forth, authorities have also detained two of the exchanges executives, Nadeem Anjarwalla and Tigran Gambaryan, who were named co-defendants in the lawsuits against Binance.

While Anjarwalla managed to escape detention on March 22, Gambaryan remains in Nigerian detention and has recently been transferred to an infamous federal prison pending his trial. Speaking on the matter, Binances Richard Teng outlined that the exchange focused on negotiating the release of the financial crime compliance expert.

Teng, however, refused to go into detail, asserting that Binance was working closely with authorities to resolve the issue.

Binance, the worlds largest crypto exchange, has built a reputation of hopping jurisdictions and playing fast and loose with regulations. The firms recent plans to choose a global headquarters signal a significant shift in its operations towards greater transparency and accountability.

Read this for more on Binance:Binance Execs Nigerian Ordeal Worsens, Sent to Infamous Prison

Stay up-to-date with the latest in MakerDAO USDe saga:MakerDAO Set to Back $1B DAI With USDe Despite Backlash

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Binance Hunts for Global HQ in Symbolic Operational Shift - DailyCoin

Credit: Shutterstock/Emre Akkoyun

A Nigerian court will soon hear the money laundering case against crypto exchange Binance brought by the countrys financial crime enforcement agency.

Get news, unique commentary, expert analysis and essential resources from the Global Investigations Review experts.

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Binance money laundering trial in Nigeria to begin in May - Global Investigations Review