Connect with us

Altcoins

Binance gains regulatory approval for New Zealand branch

Binance New Zealand will offer customers access to spot trading, NFTs, staking, among other…

The post Binance gains regulatory approval for New Zealand branch appeared first on CoinJournal.

  • Binance New Zealand will offer customers access to spot trading, NFTs, staking, among other services.

Leading cryptocurrency exchange Binance has officially been granted regulatory approval to enter the New Zealand market, and allowed to launch its local branch Binance New Zealand, Changpeng Zhao, the crypto company’s founder and CEO announced on Friday.

In a video announcement posted on Binance Twitter account, Zhao said the exchange had successfully registered in the country as a financial service provider.

Binance seeks ‘serious’ presence in New Zealand

The regulatory nod from New Zealand’s Ministry of Business, Innovation and Employment (MBIE) also saw the official launch of Binance New Zealand. General Manager Ben Rose, previously Chief Commercial Officer at tech company CodeHQ, will head the New Zealand team.

According to the Binance founder, New Zealand may be overlooked as a small market. However, the country does boast of a strong history within the fintech innovation space.

A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence. The history of fintech innovation in New Zealand is very well known, with one of the earliest and most rapid uptakes of digital transactions in the world,” the Binance chief said in a blog post.

Binance expects to bring the best crypto services to the Kiwis, including spot trading, NFTs, staking, among others. 

Major regulatory push

Binance applied for registration with the MBIE on 10 September, and the latest approval adds to the exchange’s scores amid a global regulatory push. The exchange is increasingly looking to provide the best for consumers, but in compliance with local regulations.

Over the past few months, Binance has acquired licenses and registrations in Italy, Spain, Canada and France among other countries.

The post Binance gains regulatory approval for New Zealand branch appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

Continue Reading
Advertisement

Altcoins

FTX hacker may be a former employee, says Sam Bankman-Fried

Ex-FTX CEO Sam Bankman-Fried said the exchange’s hacker might be a former employee. The crypto exchange lost $650 million in a hack a few hours after it filed for bankruptcy. FTX was prioritising Bahamian withdrawals, SBF added. FTX lost $650 million in a hack after filing for bankruptcy Troubled cryptocurrency exchange FTX revealed that it […]

The post FTX hacker may be a former employee, says Sam Bankman-Fried appeared first on CoinJournal.

  • Ex-FTX CEO Sam Bankman-Fried said the exchange’s hacker might be a former employee.

  • The crypto exchange lost $650 million in a hack a few hours after it filed for bankruptcy.

  • FTX was prioritising Bahamian withdrawals, SBF added.

FTX lost $650 million in a hack after filing for bankruptcy

Troubled cryptocurrency exchange FTX revealed that it lost $650 million in a hack a few hours after filing for bankruptcy

During an exclusive interview with Tiffany Fong a few hours ago, former CEO Sam Bankman-Fried revealed that the hacker might be a former employee. He stated that;

“I’ve narrowed it down to like eight people. I don’t know which one it was. It was either a former FTX employee or someone who installed malware on a former employee’s computer.”

Prior to losing access to FTX’s systems, SBF said he was working hard to determine who moved the hundreds of millions of dollars from FTX’s accounts without company approval. He said;

“I don’t know exactly who because they shut off access to the systems when I was halfway through exploring it.”

FTX had asked the judge handling the bankruptcy case to allow it to hire BitGo to safeguard its assets during the bankruptcy proceedings. This is to ensure that the company’s assets are protected against hacks. 

FTX’s collapse was driven by the sell-off of FTT tokens

He added that the collapse of FTX was driven by a massive sell-off of its FTT token, which was primarily driven by fear. SBF added that FTX was processing withdrawals for its users in the Bahamas since it is the country the crypto exchange was incorporated. He said;

“It was critical to the exchange being able to have a future. You do not want to be in a country with a lot of angry people in it. The pathway forward for FTX involved Bahamians not being pissed at it,”

However, SBF admitted that processing withdrawals for users in the Bahamas and not other places was not a nice move on the part of the cryptocurrency exchange. The former FTX CEO denied allegations that he built a back door into FTX’s system that allowed him to move $10 billion to sister company Alameda Research. He concluded;

“I don’t even know how to code. I literally never opened the codebase for any of FTX.”

The post FTX hacker may be a former employee, says Sam Bankman-Fried appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

Continue Reading
Advertisement

Top Posts

We need your support.

Enjoying our free service? Please help us by clicking the ads on our website. They are 100% safe. Thank you!