Binance, a top cryptocurrency by trading volume, is introducing Omni Network (OMNI) as its 52nd Launchpool project, per an update on April 12.

The Launchpool platform has played host to a number of major token launches in recent years, including big names like Pendle Finance (PENDLE).

To participate in the token launches, users must stake BNB or FUSD to farm OMNI coin.

BNB stakers will be able to participate for their share of 2,975,000 OMNI, or 85% of the allocated amount, during this period.

For fairness, a maximum hourly hard cap per user has been set to 3,098.95 OMNI in this pool. Over 60,000 BNB holders have already staked.

Meanwhile, FUSD stakers will share 525,000 OMNI, or 15% of the total supply. A user can receive a maximum of 546.87 OMNI every hour from data, more than 43,000 FUSD holders have staked so far.

875,000 OMNI will be distributed daily for four days starting on April 13. Once this farming period elapses, Binance will list OMNI for trading onApril 17 in a highly anticipated token launch.

However, not everyone can participate. BNB or FUSD holders from the United States, New Zealand, Japan, and five other countries are among those not eligible to farm.

(Popular Binance Launchpool Tokens)

Omni Network developers are opting to use the Binance Launchpool, following the route taken by other successful projects like Sui Network (SUI) with the Launchpool benefiting supporters as follows:

Omni Network is building a layer-1 blockchain similar to Ethereum or Solana. It aims to resolve the challenges faced by leading networks.

The platform offers built-in access to Ethereums vast user base and liquidity while connecting all rollup networks through restaking for higher scalability.

By integrating all roll-ups, Omni prevents fragmentation, considering how quickly layer-2 solutions using rollups are finding adoption.

Omni has over 400,000 users, and more than 30 projects are being built on its rails.

Explore: What Is Saga Crypto? Top Exchange Binance Reveal 51st Launchpool Project Over $2Bn Staked

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital

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Binance Unveils Omni Network (OMNI) as The 52nd Launchpool Project - 99Bitcoins

Key Takeaways

After settling disputes with U.S. regulatory bodies, including the Department of Justice, Binances CEO has unveiled the companys forward-looking priorities and development plans.

Emphasizing a transition towards a more mature operation phase, he highlighted a strategic pivot towards long-term sustainability for the cryptocurrency enterprise.

Part of this involves deciding where the once-ethereal exchange would be headquartered and thus impacted by national regulations.

Recently, Richard Teng, Binances newly appointed CEO, shared insights into the cryptocurrency exchanges future direction following its settlement with U.S. authorities, including the Department of Justice (DOJ).

Teng addressed the earlier allegations against Binance, noting they were tied to the exchanges formative years when regulatory frameworks and guidelines were still unclear and evolving.

He said:

But we have moved past that as the company move into greater maturity We are looking at sustainability; the direction of travel is very clear towards much more compliance, which is why were building up a very robust compliance program.

In November of last year, Binance concluded its extensive legal engagement with U.S. regulatory bodies by agreeing to a settlement of $4.3 billion.

This sum was divided into a $2.5 billion forfeiture and a $1.8 billion penalty. The settlement followed allegations against the cryptocurrency exchange for failing to comply with the Bank Secrecy Act, leading to the resignation of its then-CEO, Changpeng Zhao (CZ), who also faces pending sentencing. Additionally, U.S. authorities charged Binance with enabling transactions violating U.S. sanctions.

Binance has recently formed its inaugural board of directors, which has sparked interest due to the predominance of company insiders, supplemented by a few non-executive members. CEO Richard Teng supported the composition, highlighting the boards comprehensive grasp of Binances distinct operational model as essential for steering the company forward.

He described the board as a balanced mix of internal and external perspectives, crucial for the companys stewardship.

Moreover, the quest for a permanent global headquarters for Binance is ongoing, with Teng acknowledging the complexity of the decision. The selection process is described as meticulous, with the aim of settling in a jurisdiction that supports the companys wide array of products and services, meets the needs of its user base, and can accommodate a significant portion of its workforce.

Paris has been floated as a potential site for the global headquarters, illustrating the strategic considerations Binance is weighing in its decision-making process.

Teng concluded:

There are various considerations at play that we need to look at seriously, and were going through a very deliberate process Were going to see a corporate headquarters like we see for other corporate institution and thats the journey we have to go on.

Binances track record across the globe with regulatory authorities does not read well. The exchange has been pushed out of several countries and is currently facing a crisis in Nigeria, where one of its executives has been detained.

The route to finding a headquarters may indeed be complex but also difficult for a company that has accumulated much baggage in its formative years.

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Binance's Future "Sustainable" Explains Richard Teng Following $4.3 Billion Settlement, But Where Will it Headquarter? - CCN.com

The European Securities and Markets Authority (ESMA) has issued a warning about the high concentration of trading activity on a limited number of cryptocurrency exchanges.

According to the regulators analysis, a single platform, Binance, controls roughly half of the entire market, while just 10 exchanges handle about 90% of all cryptocurrency trades.

The ESMAs report, released on Wednesday, also highlighted significant variations in market liquidity, with larger exchanges typically exhibiting higher levels of liquidity. While this concentration may offer efficiency benefits due to economies of scale, the regulator expressed considerable concerns about the potential implications of a failure or malfunction at a major asset or exchange for the wider crypto ecosystem.

The ESMAs examination of the fiat currencies used within the crypto market revealed a strong dependence on the US dollar and the South Korean won, with the Euro playing a comparatively minor role, accounting for only about 10% of transactions. The regulator noted that the Markets in Crypto Assets (MiCA) regulation has not yet resulted in any observable increase in the use of the Euro within the cryptocurrency market. However, the ESMA expects that MiCA could potentially catalyze growth upon its implementation in 2024, given its focus on strengthening investor protection within the market.

The regulator also challenged the notion of crypto assets serving as a safe haven during periods of broader market distress. The report identified a degree of co-movement between crypto assets and equities, while also highlighting the absence of a consistent relationship with gold, a traditionally recognized safe-haven asset.

The ESMA emphasized the inherent opacity of crypto transactions, which makes it challenging to pinpoint their origin. However, a significant portion of crypto exchanges are found to be situated in jurisdictions characterized as tax havens. According to the regulator, roughly 55% of transactions are conducted on crypto exchanges licensed under the EUs VASP framework, although a substantial proportion of these transactions likely occur outside the European Union.

The report also found that despite an increase in the number of actively traded crypto assets since 2020, the market remains highly concentrated. As of December 2023, just three cryptocurrencies Bitcoin (BTC), Ether (ETH), and the stablecoin Tether (USDT) comprise a substantial 74% of the total market capitalization and 55% of the annual trading volume.

The report follows Ripple CEO Brad Garlinghouses recent prediction that the total market capitalization of the crypto industry could double to $5 trillion by the end of 2023. In March, Bitcoin hit a new all-time high, surpassing $71,000 for the first time, following the UKs Financial Conduct Authoritys approval of cryptocurrency exchange-traded products.

The upward trend gained momentum in January when the US securities regulator approved spot Bitcoin ETFs, a catalyst for the cryptocurrencys value, which breached $70,000 last week. Ethereum also crossed the $4,000 mark on Monday.

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Dispatch from Paris Blockchain Week

Breaking with its long standing policy of being based nowhere, Binance is in the process of establishing a global headquarters, CEO Richard Teng said Tuesday.

We are speaking to a few jurisdictions, a few are under consideration, Teng said during an on-stage interview at the Paris Blockchain Week conference.

The change comes as Binance, the worlds top crypto exchange, has come under fire in multiple markets for failing to obtain operating licences and comply with regulations.

Earlier this year, the Philippines blocked Binance from operating after the company failed to comply with licencing requirements.

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In March, Nigerian authorities charged Binance with money laundering and tax violations and incarcerated Tigran Gambaryan, a US-based compliance executive, in prison pending his trial.

Binance has protested Gambaryans detainment and called the allegations against him meritless.

Our utmost priority is to do what we can to bring him home as soon as possible, Teng said in Paris on Tuesday. The company is working closely with the Nigerian authorities to resolve the issue, he added.

When pressed for further details on the Nigerian crisis, Teng declined. I think we have really discussed enough of this subject matter. Lets move on, he said.

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Establishing a home base has long been a point of contention at Binance, even before Teng took over last November.

In 2019, co-founder and then-CEO Changpeng Zhao said that headquarters and offices were old concepts and that that time is moving on.

At a finance conference in London last fall, Teng bristled at questions about where the company was actually based. Why do you feel so entitled to these answers? he said during a video-linked interview.

Binances disregard for orthodox corporate practices and regulations caught up with it in 2023.

In November, the company pleaded guilty to violating US banking law by facilitating crypto transactions for sanctioned entities such as terrorist organisations and paid a $4.3 billion penalty. Zhao, who also pleaded guilty, resigned as CEO.

Teng, a onetime director of corporate finance at Singapores central bank, has experience in regulatory roles.

At Binance, he has vowed to install proper anti-money laundering and know-your-customer policies and comply with regulations.

Under the terms of Binances settlement with US authorities, an independent, court-approved monitor is scrutinising Binances progress on this front.

Teng appears to be hoping establishing a global HQ will signal that Binance is truly changing its ways.

Yet the details, including the location, remain fuzzy.

Its not so easy to pick one because there are a multitude of factors, said Teng, who is based in Singapore.

That includes how regulations would apply to Binances offerings, tax policies, and the ease of hiring and adding staff.

Liam Kelly is DL News Berlin correspondent. Contact him at liam@dlnews.com.

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Binance will finally establish a global HQ as regulatory pressure mounts, chief Richard Teng says - DLNews

Explore the innovative world of NuggetRush and Binance Coin as they revolutionize gaming and meme coin innovation.

As the highly-anticipated Bitcoin halving event nears, excitement builds in cryptocurrencies, with numerous coins poised for significant growth. Among these, Binance Coin (BNB) and NuggetRush (NUGX) are attracting attention, appearing ready for a remarkable surge. With institutional investors showing keen interest and market trends evolving favorably, NUGX and BNB seem poised for a paradigm-shifting rally in the digital asset market.

NuggetRush is thriving as one of the leading gaming tokens, offering players an engaging gaming experience with valuable in-game rewards and supporting artisanal miners in less developed nations. Each venture into a mine and every tactic devised carries the potential for uncovering valuable treasures in NuggetRush. Despite regulatory hurdles, BNB has successfully held its ground within the top 10 altcoins, showcasing impressive growth since the start of the year.

This article explores NuggetRush and Binance Coin, gearing up for a paradigm shift rally in the market.

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NuggetRush fosters a vibrant community of enthusiasts within a secure virtual realm, offering a comprehensive GameFi experience. By intertwining gold mining, cryptocurrency, and real-world artisanal mining into an inventive play-to-earn concept, NuggetRush is gearing for a paradigm shift rally. Leveraging the Ethereum blockchain, this new DeFi crypto project ensures widespread accessibility, inviting countless users to immerse themselves in the game's ecosystem.

This new DeFi crypto game seamlessly merges the excitement of exploration and strategic decision-making with the potential for tangible real-world rewards. Early supporters and adopters are pivotal, serving as advocates and furnishing invaluable feedback for a game poised for global acclaim. At the heart of NuggetRush's attractiveness lie its play-to-earn mechanism, captivating meme collectibles, and visually stunning aesthetics.

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Players can buy or sell character NFTs on the active player-driven marketplace alongside other scarce NFT items and valuable mined materials. Following the conclusion of the presale, a substantial 50% of tokens will be distributed over 5 claim rounds, contingent upon your entry into the project. Holders of NUGX can anticipate a thrilling chance to win a remarkable $25,000 giveaway at the presale's culmination, reserved for three fortunate NUGX holders.

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Binance Coin, the leading cryptocurrency associated with the prestigious Binance exchange, has been on a remarkable upward trajectory lately. BNB has experienced a remarkable 45% surge in the past month, propelling it within a 19% reach of its previous all-time high of $690 recorded on May 10, 2021. This surge indicates BNB's current momentum and potential for further strengthening in the upcoming weeks.

BNB Chain recently embarked on an exciting endeavor, allocating a substantial $1 million fund to incentivize developers who create eligible meme coins and launch them on their network. This move represents a strategic step within Binance Coin Chain's broader vision to foster the growth and evolution of meme coin projects within its blockchain ecosystem.

Conclusion

As Binance Coin and NuggetRush gear up for a surge, investing in them now is the best decision. NuggetRush offers unique features that make it attractive as the best crypto to buy and positioned to yield investors substantial returns this year. With its partnership with gold providers, experts suggest that adding NuggetRush to your portfolio will make you a millionaire in the coming months.

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Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $225. Readers should do their own research before taking any actions related to the company. BSC.News 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 the press release.

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Binance Coin and NuggetRush Gear Up For a Paradigm-Shifting Rally - BSC NEWS

Binance executive Tigran Gambaryan pleaded not guilty to charges of tax evasion and money laundering in Nigeria on Monday.

According to a press release from a family spokesperson for the Gambaryans, the Nigerian court ordered Gambaryan to be remanded at the Kuje correctional facility. In 2022, the Islamic State attacked the facility as part of a jailbreak.

I am begging the American government to do anything to get Tigran out and I am imploring the Nigerian government to realize that they are holding a completely innocent man. They can still do the right thing and release him whilst they negotiate with the actual decision-makers at Binance for a solution to the issues which they are facing, Yuki Gambaryan, his wife, said in a statement.

Read more: Binance adds 3 independent members to its board

A Binance spokesperson told Blockworks that the company is deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained. Tigran has been dedicated to public service and fighting crime for most of his life. These charges against him are meritless.

He should be freed while discussions continue between Binance and Nigerian government officials, the spokesperson added. The decision to send Gambaryan to the Kuje correctional facility is outrageous.

Binance previously told Blockworks that it was working collaboratively with the Nigerian government and publicly requested Gambaryans release in a blog post last week.

Gambaryan, the company added, should not be held responsible while current discussions are ongoing between Binance and Nigerian government officials.

Gambaryan and another Binance executive, Nadeem Anjarwalla, were detained in the country in late February as tensions between the country and the company began to build. Anjarwalla later fled the country after escaping detention.

Nigeria claimed in late February that $26 billion passed through Binance Nigeria and said that it was looking to impose a fine.

The charges, and the Binance employees pleading, come after a drawn-out court process.

Last week, the Nigerian court adjourned until April 19. At the time, a family spokesperson told Blockworks that the Gambaryans hoped that the government could sort through some of these administrative inefficiencies.

Binance ended support for the Nigerian Naira last month as the country detained its two executives.

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Binance 'deeply disappointed' about the ongoing detention of an executive in Nigeria - Blockworks

Table of Contents

In April, investors should keep an eye on Solana (SOL) and Binance Coin (BNB), both demonstrating promise in the cryptocurrency market. However, it's the lesser-known low-cap token, Retik Finance, that presents itself as the standout opportunity with significant potential for growth and performance. While Solana (SOL) and Binance Coin (BNB) show promise in April's cryptocurrency landscape, Retik Finance emerges as the dark horse with its low-cap status. This under-the-radar token holds the potential to outshine its larger counterparts, offering investors a compelling opportunity for growth and returns.

Since its inception, Binance (BNB) has rapidly emerged as one of the premier cryptocurrency exchanges worldwide, boasting an extensive array of trading options and features for users. The native token, BNB, found utility within the Binance ecosystem, offering benefits such as reduced trading fees, thereby driving its widespread adoption and value appreciation. Similarly, Solana (SOL) garnered attention with its high-performance blockchain, capable of facilitating thousands of transactions per second, effectively addressing the scalability concerns associated with older blockchain technologies. Both Binance (BNB) and Solana (SOL) captured the interest of investors, signaling the dawn of a new era in cryptocurrency wealth accumulation.

Retik Finance stands out as a comprehensive decentralized finance (DeFi) ecosystem aiming to revolutionize global transactions through innovative solutions and advanced technology. With its unique offerings such as Futuristic DeFi Debit Cards, Smart Crypto Payment Gateway, and AI-Powered Peer-to-Peer (P2P) Lending, Retik Finance provides newcomers with a gateway into the rapidly expanding DeFi sector. New investors can rely on Retik Finance's commitment to security, reliability, and community engagement, which have attracted significant attention from both investors and enthusiasts. By embracing Retik Finance, newcomers can actively participate in the dynamic realm of decentralized finance, exploring fresh avenues for growth and innovation in the cryptocurrency sphere. The platform has achieved a noteworthy milestone by securing over $32 million in total funds, reflecting its strong development momentum and active investor engagement. This achievement underscores Retik Finance's dedication to advancing and innovating within the cryptocurrency sector. Moreover, the platform's successful completion of a comprehensive audit by Certik, a highly respected blockchain security firm, enhances its credibility and resilience, instilling trust among investors. Strategic initiatives, such as the recent $333,000 giveaway event, have played a pivotal role in fostering vibrant community involvement and bolstering investor confidence in Retik Finance. This event rewarded the community for its support and also underscored the platform's commitment to engaging with its user base. Looking ahead, forthcoming announcements regarding Retik Finance's exchange listing and vesting schedule will be exclusively communicated through the platform's official social media channels, ensuring users stay informed about crucial developments and have access to accurate and timely information. In recognition of Retik Finance's achievements during the presale phase, the platform is excited to announce a special $5000 giveaway. Participating in this giveaway is straightforward: users are invited to share an original photo, video, or meme capturing their enthusiasm for Retik Finance. Twenty-five fortunate winners will each receive $200 as a token of appreciation for their steadfast support and dedication to the Retik Finance community. Furthermore, while Solana (SOL) and Binance Coin (BNB) exhibit promising potential for April, it's the under-the-radar gem, Retik Finance, that truly shines as the standout opportunity. With its innovative solutions, strong community engagement, and significant milestones achieved, Retik Finance represents a compelling choice for investors seeking exposure to the burgeoning decentralized finance sector and promising returns in the cryptocurrency market.

Retik Finance (RETIK) is a cutting-edge decentralized finance (DeFi) project revolutionizing global transactions with its innovative suite of financial solutions. Introducing futuristic DeFi Debit Cards, a Smart Crypto Payment Gateway, AI-powered Peer-to-Peer (P2P) lending, and a Multi-Chain Non-Custodial Highly Secured DeFi Wallet.

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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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3 Cryptocurrencies to Watch in April: Solana (SOL) and Binance Coin (BNB) Are Promising, But This Low-cap Is the ... - CryptoDaily

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