As Binance moves into its eighth year, it plans to continue leading the digital asset sector. The exchange holds licenses and registrations across 18 jurisdictions, more than any other centralized crypto exchange.

Binance, the worlds largest cryptocurrency exchange, will mark its seventh anniversary on July 14, 2024. The exchange has developed from a young startup to a seasoned pro in the cryptocurrency industry since its founding. It currently has more than 210 million users globally.

Amid the growing worries over user asset security following the demise of competitor exchange FTX, Binance insists that user funds are stored transparently at a 1:1 ratio. Notably, the exchange crossed the $100 billion mark in user fund holdings earlier this year.

Binances infrastructure has been robust enough to support this massive user base. The platform processes an all-time high of 2.58 million Queries Per Second (QPS). This guarantees efficient processing even at busy periods, giving customers a dependable service.

The exchanges quick expansion has made it a leader in the quickly changing cryptocurrency market. To better serve its users, Binance constantly looks into new ideas and partnerships. A press release stated that between January and June 2024, institutional registrations on the exchange increased by more than 36%.

The companys Chief Executive Officer (CEO), Richard Teng, pledged to ensure that newcomers have a safe and comfortable experience on the exchange. He explains:

To protect Binance users from potential security breaches and other extreme situations, we maintained the value of our SAFU fund above $1 billion, and will keep doing so in the future.

Binance is throwing a number of global events, meetups, and giveaways to celebrate its seventh anniversary. In a post on Binance Square, the exchange said these celebrations will offer users the chance to win exclusive 7YA Binance merchandise, crypto, and digital collectible giveaways.

As Binance moves into its eighth year, it plans to continue leading the digital asset sector. The exchange holds licenses and registrations across 18 jurisdictions, more than any other centralized crypto exchange. Binances Law Enforcement Training program has also been instrumental in fighting illicit activity related to digital assets, processing over 62,800 law enforcement requests between June 2023 and May 2024.

While the exchange still faces regulatory challenges from financial agencies like the Securities and Exchange Commission (SEC), it aims for the institutionalization of crypto and greater regulatory clarity. Teng states:

With the trust and support of our global community, we are confident that our first seven years of hard work have laid a solid foundation for even greater success on the path of expanding financial freedom and inclusion. Weve only just begun.

Meanwhile, Binances native token, BNB, is currently trading at around $525, up by over 112% in the past year. With a market cap of $77.5 billion, BNB ranks fourth among the largest cryptocurrencies by market cap.

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Binance Celebrates Seven Years of Crypto Leadership - Coinspeaker

In a strategic move to facilitate a seamless transition, Binance, one of the worlds largest cryptocurrency exchanges, has suspended existing spot trading pairs for Render (RNDR).

Binance has pledged to support Renders rebranding efforts, which will see RNDR tokens transition to Render (RENDER).

As Render prepares to unveil its new identity, investors can invest in the new Ethereum token, RCO Finance (RCOF), offering an ROI of up to 30x in the presale stage.

Render (RNDR), the innovative token powering decentralized rendering solutions, is undergoing a significant transformation.

Binance has pledged to support this rebrand and ensuing token swap and has suspended all existing RNDR spot trading pairs. This move is designed to streamline the transition process for investors and ensure a smooth migration to the new Render (RENDER) tokens.

Render has become a pivotal player in decentralized rendering, offering scalable solutions powered by blockchain technology.

The rebranding to Render (RENDER) signifies a strategic evolution to better align its brand identity with its core offerings and market positioning.

Amidst the market buzz surrounding Renders rebranding, RCO Finance (RCOF) is emerging as a promising opportunity for early investors with the ongoing token presale.

With presale prices starting at $0.01275 and expected listing prices ranging between $0.4 to $0.6, early investors can realize up to 3000% in price gains.

The presale stages of RCO Finance highlight its commitment to fair distribution and community engagement.

Investors participating in the presale secure tokens at advantageous rates and gain access to exclusive bonuses, including up to 40% bonus tokens during the Bonus Round phase.

The RCOF tokenomics, featuring a deflationary model, reinforces its value proposition and long-term viability.

In addition to growing your crypto portfolio, owning RCOF tokens unlocks many benefits, including discounted transaction fees, governance voting rights, and participation in dividend distributions.

As RCO Finance aims to disrupt traditional finance with its decentralized trading platform, early adopters can leverage its innovative features and capitalize on the burgeoning DeFi landscape.

RCO Finance is spearheading innovation in decentralized trading with its robust platform powered by AI and machine learning.

Using cryptocurrencies, the platform allows users to invest in various assets, including stocks, real estate, and commodities. This seamless integration of traditional and digital finance bridges gaps in accessibility and offers unprecedented investment flexibility.

Central to RCO Finances appeal is its AI-powered Robo Advisor, which provides personalized investment strategies tailored to individual preferences and market conditions.

This Robo Advisor leverages advanced algorithms to analyze financial goals, risk tolerance, and market trends, enabling users to make informed investment decisions confidently.

By automating portfolio management and eliminating emotional bias, RCO Finance enhances user experience and maximizes investment potential.

Moreover, RCO Finance prioritizes security and transparency through its audited smart contracts and decentralized infrastructure. The platforms non-KYC approach preserves user privacy while adhering to regulatory standards, ensuring a compliant yet user-centric trading environment.

With features like automated market making, crypto lending, and pre-derivatives trading, RCO Finance empowers users to optimize their investment strategies and participate actively in the evolving DeFi ecosystem.

Investors looking to capitalize on the future of finance should consider investing in RCO Finance for its cutting-edge technology, robust security measures, and comprehensive investment solutions.

For more information about the RCO Finance Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.

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Binance Will Suspend Buy/Sell Orders for this Altcoin, Capital Moving to Hidden Ethereum Token - Crypto Reporter

Amid the heightened crypto volatility fueled by institutional investors, Binance Coin (BNB) has registered a notable spike in whale activity. According to on-chain data provided by BscScan, a whale named Capybara_bnb deposited 200k BNB, worth about $103 million, to the Binance exchange earlier this week.

As of this writing, the Capybara_bnb whale holds about 203,609 BNB, worth around $103 million. With heightened crypto fear, which stands around 25 percent based on the fear and greed index, more sales by Capybara_bnb could trigger further BNB price capitulation ahead.

The BNB price action has closely mirrored that of Bitcoin in the past, thus expected to follow similar price action ahead. Most crypto analysts believe that the crypto industry will enter into a fakeout consolidation before a major bullish breakout later this year.

As a result, BNBs price could drop as much as $450 in the coming weeks before establishing a reversal pattern. Furthermore, BNB price on the daily time frame has formed a possible double top coupled with a bearish divergence on the weekly Relative Strength Index.

The large-cap altcoin, with a fully diluted valuation of about $80 billion and a daily average traded volume of around $1 billion, has dropped around 14 percent in the past four weeks to hover about $528 on Friday

, July 12, 2024.

The Binance network has grown to a vibrant web3 ecosystem, with more than $5 billion in stablecoins market cap and over $4.4 billion in total value locked. The Binance web3 ecosystem has thrived in non-western nations following the regulatory crackdown led by the United States.

However, as we previously reported, the Binance ecosystem has been counting on a major win after a United States court dismissed claims filed by the SEC that the exchange violated securities laws vial the initial BNB secondary sales.

With the current Binance top executives, led by CEO Richard Teng, focused on quality customer service, it is safe to assume the network will continue to grow in the coming years. As we recently reported, the Binance team will conduct its Second Sunset Fork to merge the BNB Beacon chain with the BSC Chain.

After more than a year of impressive bullish performance, Bitcoin price will begin to be outshined by the altcoin industry soon. Most of the altcoins are trading in their bear market lows against Bitcoin, but the trend will soon change.

Moreover, Bitcoin dominance is on the cusp of a macro reversal, which will accelerate the ongoing crypto cash rotation. As CNF previously reported, the inevitable final approval of spot Ether ETFs in the United States will trigger a fresh altcoin season ahead

https://x.com/el_crypto_prof/status/1811683244468822211?s=46

In this regard, it is safe to assume that more investors will tap into the BNB ecosystem, which has deep liquidity and the necessary infrastructure to support more traders.

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BNB Drops After Whale Moves $103 Million: Whats Next for Binance Coin? - Crypto News Flash

FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading, fintech, payments, and crypto. Join FMPS:24 to build relationships, explore new possibilities, and gain insights from industry leaders and experts. Register Now: https://bit.ly/4cQSiB1 #fmps24 #fmps #fmevents #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ Facebook: https://www.facebook.com/FinanceMagnatesEvents Instagram: https://www.instagram.com/fmevents_official Twitter: https://twitter.com/F_M_events TikTok: https://www.tiktok.com/@fmevents_official YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading, fintech, payments, and crypto. Join FMPS:24 to build relationships, explore new possibilities, and gain insights from industry leaders and experts. Register Now: https://bit.ly/4cQSiB1 #fmps24 #fmps #fmevents #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. 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Binance Scheduled to Face Tax Evasion Charges in Nigerian Court This October - Finance Magnates

The past few years for Binance, the largest crypto exchange by trading volume, have been one for the books. They have been marked by intense regulatory drama across various jurisdictions, which has resulted in hefty sanctions and penalties for the exchange, such as the ousting of its founder from his executive position, operational license suspensions, and the exchanges exit from several key markets.

Despite the challenges, Binance has continued to grow, and it is now celebrating a major milestone that highlights its resilience over the years.

Celebrating the exchanges seventh-year anniversary, Binance CEO Richard Teng reflected on the exchanges accomplishments since its inception.

At the heart of his reflection is an appreciation for the exchanges journey since its launch in 2017, evolving from ground zero to its current status as one of the industrys foremost exchanges. Teng highlighted several of Binances notable achievements, including its accumulation of a 200 million global user base and exceeding $100 billion in fund holdings.

While the exchange is renowned for its major regulatory troubles across various regions, the CEO asserted that Binance has made substantial progress in its regulatory foothold. He emphasized that the exchange has placed an even greater focus on compliance, even collaborating with global authorities to combat illicit activity across the industry.

Binance has also recorded a significant 36% increase in institutional registrations this year, alongside increased utilization of its educational platform, Binance Academy.

The celebrations were not Tengs only focus, as the CEO charted an optimistic outlook for the exchanges future.

Looking to the future, Binances recently appointed CEO has outlined the exchanges key focus areas. Teng emphasized that the exchange is gearing up for the next phase of the industry and aims to remain at the forefront to accommodate evolving trends.

The industry is expected to attract more large-scale investors and capital, driven by the growing institutionalization of digital assets and greater regulatory clarity. To accommodate the expanding ecosystem and participants, Binance will prioritize enhancing user experience, providing accessible crypto knowledge, and improving customer support.

CEO Teng further asserted that the exchange will maintain its leadership position in the coming years. With the trust and support of our global community, we are confident that our first seven years of hard work have laid a solid foundation for even greater success on the path of expanding financial freedom and inclusion. Weve only just begun, he remarked.

Despite its many troubles, Binance has undoubtedly cemented its place as an industry leader. However, the exchange still faces several regulatory woes, and its ability to successfully navigate these challenges and maintain positive momentum will determine its ability to retain its position.

Read more about the Binance executive detained in Nigeria Binance Gambaryans Health At Risk as Test Results Denied

Find out more about BitMEXs counter of the DOJs regulatory violation claims: Old News: BitMEX Dismisses Guilty Plea to AML Violations

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Binance CEO on 7th Anniversary: Weve Only Just Begun - DailyCoin

The US House of Representatives introduced a resolution urging Nigeria to release Tigran Gambaryan, a former federal agent and Binance employee who has been detained in the country since February.

Representatives Rich McCormick and French Hill submitted the resolution on July 11.The document emphasizes Gambaryans service as a federal agent and his role in recovering over $4 billion in illicit funds.

At the time of his detention, Gambaryan was serving as Binance Holdings Limiteds Head of Financial Crime Compliance.

Gambaryan traveled to Nigeria on Feb. 26 for high-level meetings regarding Binances compliance issues amid the countrys challenges with increased adoption of crypto via peer-to-peer markets, which indirectly caused a steep devaluation in the naira.

According to the resolution, the meetings became hostile, leading to Gambaryans detention without due process. Nigerian authorities held Gambaryan in a government-owned house for five days, preventing him from contacting his family, company, attorneys, or the US Department of State.

Despite a court order limiting his detention to 14 days, Nigerian officials continued to hold him without legal basis from March 12 to April 5, at which point authorities charged Gambaryan with charges including tax evasion and money laundering.

Gambaryan was subsequently transferred to Kuje Prison, known for its harsh conditions and housing members of Boko Haram. The Department of States 2023 human rights report documented significant abuses in Nigerian prisons, raising concerns about Gambaryans treatment.

The resolution claims Nigeria is wrongfully detaining Gambaryan to extort Binance, citing statements from Nigerian Information Minister Mohammed Idris.

It adds that efforts to secure Gambaryans release have faced numerous obstacles, including intentionally delayed proceedings and denial of bail requests.During his detention, officials have not allowed him to speak privately with his attorneys or family.

According to the document, a congressional delegation visited Gambaryan on June 20 and expressed extreme concern over his condition.

The resolution further details that Gambaryans health has deteriorated due to inadequate medical care. He tested positive for malaria and collapsed in court on May 23, yet authorities delayed his hospital treatment. Although a judge ordered his hospitalization, officials returned him to prison after a brief visit.

The resolution calls on the US government to take immediate action to secure Gambaryans release, recognize his wrongful detention, and ensure he receives full consular and medical access while in detention.

The House resolution demands Nigeria uphold due process and human rights for Gambaryan and all political prisoners and expresses solidarity with his family during this challenging time.

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US Congress says Nigeria 'wrongfully detaining' Binance exec to 'extort' exchange, initiates legislation to free him - CryptoSlate

The Federal Inland Revenue Service (FIRS) has re-arraigned Binance on a four-count accusation of suspected tax evasion.

Binances representative in Nigeria Ayodele Omotilewa was charged on Friday before Emeka Nwite, a federal high court judge in Abuja.

Omotilewa pleaded not guilty to the four counts.

Theonlydefendantnamedintheupdatedcharge,whichwassubmittedonJune14,isBinanceHoldingsLimited.

Following the representation made by Binance, Moses Ideho, FIRSs attorney, requested a date for the trial to begin. The trial was then scheduled for October 11 by the presiding judge.

The head of financial crime compliance at Binance Tigran Gambaryan has been on trial in Nigeria for suspected tax evasion and money laundering for the past few months.

The tax accusations against Gambaryan were withdrawn by the Federal Inland Revenue Service (FIRS) on June 14.

A federal high court in Abuja dismissed Gambaryan after the FIRS validated Omotilewas designation as the firms representative.

However, the EFCC has not dropped its allegations against Binance and its management.

The anti-graft commission has charged Binance Holdings Limited, Gambaryan, and Nadeem Anjarwalla, Binances regional manager for Africa, with money laundering.

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FG re-arraigns Binance on tax evasion charges - TV360

A court in Nigeria has said it will begin a trial against cryptocurrency exchange Binance over tax evasion charges on Oct. 11, the judge hearing the matter said on Friday.

The Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, face separate trials on charges of tax evasion and money laundering. Teng emphasized that Binance is challenging these allegations.

Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, was held in Nigeria for over two months, while Anjarwalla, a British-Kenyan regional manager for Africa, fled the country in March.

Teng revealed that Binance executives initially engaged in discussions with Nigerian authorities in January, followed by a subsequent meeting on February 26. During this meeting,

Nigerian authorities labeled the issues concerning Binance as matters of national security. They demanded the delisting of the naira currency from Binance's platform and requested detailed information on all Nigerian users.

The detention of Gambaryan and Anjarwalla after collaborative meetings with Nigerian authorities was strongly condemned by Teng. He stated that this action sets a dangerous precedent for companies worldwide.

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Nigerian court says it will begin hearing Binance tax evasion case in October - Africanews English

Two U.S. Congressmen have submitted a resolution to the House Committee on Foreign Affairs urging the government to consider a Binance executive detained in Nigeria as a hostage.

In the resolution, Rep. French Hill (R-AR) and Rep. Rich McCormick (R-GA) demanded the release of Binance's head of financial crime compliance Tigran Gambaryan, a U.S. citizen who has been held in custody in Nigeria since February.

Calling Gambaryan's detention "a clear violation of his rights and a grave injustice," McCormick urged the Nigerian government to release him, and called on the U.S. government to "do everything in its power to secure the release of one of our citizens wrongfully detained abroad."

Gambaryan was first detained alongside his colleague Nadeem Anjarwalla, who subsequently fled custody and escaped the country. Immediately afterward, Nigeria's Economic Financial Crimes Commission (EFCC) charged Binance and the two executives with money laundering to the tune of $35 million and manipulating the foreign exchange (forex) market.

Binance was also initially charged with tax violations, but those have since been droppedby the Federal Inland Revenue Service.

In their resolution, Hill and McCormick argued that Gambaryan is "being tried in lieu of pursuing legal action against his employer," adding that during a court hearing, the Nigerian government stated that Gambaryan was "the only thing we have to hold on to." Hill added that Gambaryan should be released, returned to the U.S. and the "fabricated" charges against him dropped.

Hill, who recently visited Gambaryan in the Nigerian prison where he is being held, reported that his health is "deteriorating" in custody, while McCormick urged the Nigerian authorities to provide Gambaryan with "the necessary medical care."

During a court hearing in May, Gambaryan collapsed and was subsequently put on medication for malaria. His family claim that he has been suffering immensely while being held in the Kuje prison, noting that he has complained of numbness in his foot, back pain and been diagnosed with double pneumonia and malaria.

Nigerian officials have refuted the claims, asserting that he has no serious health condition and is doing fine in detention.

In a statement accompanying the announcement of the resolution, Gambaryan's wife Yuki said that, "I appreciate Congressional focus on obtaining Tigrans immediate release from custody in Nigeria and Representative McCormicks continued attention to Tigrans plight." She added that she was "deeply concerned" about his health, and hoped that the U.S. government's involvement "will expedite the process of getting him released."

"I just want him home so he can get the proper medical care he desperately needs and so that he can heal," Mrs Gambaryan said, adding, "He needs to be freed right now."

Chidirim Ndeche contributed to this report.

Edited by Stacy Elliott.

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Lawmakers Urge US to Treat Binance Exec Detained in Nigeria as Hostage - Decrypt

U.S. Representative Rich McCormick has put forward a bill to secure the release of Tigran Gambaryan, a Binance executive who has been held in Nigerian custody for several months.

The bill, titled Urging the Government of Nigeria to immediately release Binance employee Tigran Gambaryan from imprisonment, has been referred to the House Committee on Foreign Affairs.

Gambaryans detention is connected with Nigerian authorities accusations against Binance and its executives for being involved in money laundering following earlier claims that the crypto exchange was affecting local currency growth. However, this case has attracted attention from the crypto space as well as U.S. lawmakers

Recently U.S. Congress members, French Hill and Chrissy Houlahan visited Nigeria on a national security mission where they had a meeting with Gambaryan. They reported disturbing details about his condition including having malaria and double pneumonia among other things. They further noted that he had lost lots of weight, and he was not receiving enough adequate medical assistance. However, Nigerian prison officials have disputed these claims about Gambaryans health status.

The situation has raised human rights concerns, with advocates calling for Gambaryans release and return to his family. Rep. McCormick, who represents Gambaryans home state of Georgia, is leading this legislative effort to address the ongoing detention.

Earlier this year, Nigerian authorities detained Gambaryan and his colleague, Nadeem Arjarwalla, from the office of the National Security Adviser. The visit aimed to discuss regulatory matters. While Arjarwalla reportedly escaped custody, Gambaryan remains detained. Although tax evasion charges have been dropped, the Economic and Financial Crimes Commission (EFCC) continues to pursue money laundering charges.

Binance has maintained that Gambaryan is not a decision-maker in the company and has continued to advocate for his release.

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U.S. Rep Proposes Bill to Free Binance Exec Held in Nigeria - Crypto Times