Binance loses another corporate partner as severs ties – CryptoSlate


A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›
Welcome! đź‘‹ You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
If you don’t have enough, buy ACS on the following exchanges:
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
The global crypto market cap is $1.06 trillion with a 24-hour volume of $28.97 billion. The price of Bitcoin is $26,102.25 and BTC market dominance is 48.3%. The price of Ethereum is $1,670.02 and ETH market dominance is 19.0%. The best performing cryptoasset sector is Energy, which gained 12%.
The embattled giant has seen numerous setbacks over 2023, including licensure failures and regulatory crackdowns.
Cover art/illustration via CryptoSlate
London-based credit card payment processor has severed ties with Binance, the world’s largest cryptocurrency exchange, according to a spokesperson. The termination, which came through two letters sent earlier this month, was revealed in a report from Forbes and later confirmed by TechCrunch., valued at $40 billion as of January 2022, cited concerns stemming from “reports of regulators actions and orders in relevant jurisdictions” as well as “inquiries from partners” as reasons for the termination. The letters also highlighted worries over Binance’s alleged issues with anti-money laundering, sanctions, and compliance controls.
In a response to the termination, Binance expressed disagreement with’s claims and is currently “considering our options for legal action,” the spokesperson said. Despite the ongoing challenges, Binance remains “committed to continuing to collaborate with regulators and partners around the world.”
This split follows a series of regulatory challenges faced by Binance. Only a few months ago, the U.S. Securities and Exchange Commission (SEC) filed 13 charges against Binance and its CEO, Changpeng Zhao, over allegations of misleading regulators about its operations and other securities violations. In another development, Binance recently announced the shutdown of its crypto payment service, Bifinity, and the disabling of its Binance Connect service.
Binance’s challenges are not limited to the U.S. The exchange has faced a series of setbacks in Europe, with the termination of its partnership with Euro payment partner Paysafe. Germany’s financial regulator, BaFin, also declined to grant Binance a crypto custody license, compounding its difficulties in the European market.
In June, Binance.US, the American subsidiary of Binance, transitioned to a “crypto-only” mode after banking partners suspended their services, a move prompted by the SEC lawsuit against the exchange for allegations of securities law breaches.
The U.S. Department of Justice (DOJ) is reportedly weighing criminal charges against Binance but remains cautious due to fears of potential market panic, reminiscent of the collapse of another crypto platform, FTX.
As regulatory scrutiny intensifies, the ongoing challenges underscore the urgent need for clear and consistent regulations in the rapidly evolving cryptocurrency industry.
Jacob Oliver is a recovering academic and English teacher who went down the crypto rabbit hole in 2017 after recognizing the technology’s potential.
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
CryptoSlate’s latest report dives deep into the U.S. government’s decision to abandon the gold standard in 1971 and its far-reaching consequences, many of which are still unfolding today.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Ethereum price has struggled considerably since last week’s flash crash.
Terra users warned against interacting with official site after it turns into a phishing trap.
Creditors will receive voting ballots starting Aug. 24, with the final voting date set for Sept. 22 — giving them a little under one month to cast a vote in favor or against the plan.
The former U.S. President declared he earned over $4 million from his NFT adventure.
The BNB Bridge hacker’s $63 million position was also liquidated on Venus Protocol.
Lawmakers are petitioning two major financial regulators for information concerning the relative upstart’s ability to secure its registration status.
The former U.S. President declared he earned over $4 million from his NFT adventure.
The Worldcoin founder is touting high adoption rates but support from on-chain data is lacking.
In support of Coinbase, the scholars said that an ‘investment contract’ requires a ‘contractual undertaking,’ contradicting the SEC.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2023 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy

Please add [email protected] to your email whitelist.
Stay connected via


Leave a Reply

Your email address will not be published. Required fields are marked *