Binance Appoints Former US Senator to an Advisory Role; Weibo Suspends its Social Account

2021-3-13 20:30

Binance hires former U.S. Senator and former Ambassador to China, Max Baucus as an advisor on policy and government relations. Weibo suspends Binance, OKEx, and MXC crypto exchange social media accounts.

In an announcement on Thursday, Binance confirmed the long-term serving U.S. government official would provide legal advice and a bridge to regulators with Binance. The seasoned government official served under President Obama as an ambassador to China from 2014 to 2017. He previously represented Minnesota in Senate for nearly four decades leading the U.S. Senate Committee on Finance and the Joint Committee on Taxation and Subcommittee on Transportation and Infrastructure.

This appointment looks to open the doors for U.S. customers to start enjoying the crypto services offered by Binance. U.S. customers are banned from the main website due to regulatory constraints. To solve this issue, Binance launched a U.S.-only trading service, Binance US, which only offers 54 crypto-assets (compared to Binance’s 340) and lacks derivatives trading.

Baucus showed his admiration for blockchain tech and crypto space in his acceptance statement, stating they have the “potential to drive a revolution in how money is managed.” He further said,

“Binance is one of the largest organizations involved in bringing these to the mainstream, and it’s a privilege to assist in appropriately navigating the complex political and regulatory frameworks that hold the key to enabling wider adoption.”

In a statement obtained by Decrypt, Binance CEO, Changpeng “CZ” Zhao stated that Baucus’ previous government roles would enhance Binance compliance requirements and policies. He furthers states that his “intimate understanding of global regulation brings exceptional value to Binance.”

Binance, OKex, and MXC delisted from Weibo

Moving away from the positives, Binance was one of the three crypto exchanges that saw their Weibo (Chinese Twitter) social accounts locked on Thursday morning. While the social app did not explain the lockout, it appears it was a targeted act on crypto exchanges.

Weibo only stated the companies had violated laws and community rules, leading to its accounts' closure. As one of the largest crypto trading platforms in China, Binance closure has rattled many investors across the country and led to a sharp retracement in Bitcoin’s price to $57,000, as of writing.

The post Binance Appoints Former US Senator to an Advisory Role; Weibo Suspends its Social Account first appeared on BitcoinExchangeGuide.

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Binance CEO: Retail Investors, Not Institutions, Are Leading the Bull Market

Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, says Binance CEO in a recent interview with Bloomberg. Who’s Really in Charge? As Bitcoin briefly touched $20,000 in early 2018, market analysts forecasted that the impending arrival of Bitcoin futures products, a Bitcoin exchange-traded fund (ETF), and the infusion of institutional funding would drive Bitcoin towards $30,000 and possibly $50,000.

2019-7-14 00:16


First mover better prepared for world domination, says Binance’s CZ as he hints at Facebook-Tencent rat race

Just like any other disruptive technology, cryptocurrency required a decade to be viewed as not just a speculative and risky asset, but as the future of the world’s financial services. Today, with the entry of several financial and non-financial institutions into the crypto-space, many around the world are speculating what its role will be in […] The post First mover better prepared for world domination, says Binance’s CZ as he hints at Facebook-Tencent rat race appeared first on AMBCrypto.

2019-7-9 13:00


Binance’s Bitcoin (BTC) Trading Share Falters In Crypto Bear Market

Binance’s Bitcoin (BTC) Trading Dominance Dives Another week, another crypto-centric analytics report from Diar, a leading research unit in the nascent cryptocurrency ecosystem.  In the startup’s most recent installment, released on Monday, Diar drew attention to the ever-changing role that Bitcoin (BTC) and that exchanges that support it have played in the cryptocurrency market at large.

2018-12-11 07:30


Binance CEO Discusses Bespoke Ledgers, the Future of Cryptocurrency and the Exchange’s Relationship with Coinbase

Blockchain technology, the first successful implementation of the distributed ledger framework and one of the core technologies that support cryptocurrencies like Bitcoin and Ethereum, continues to attract attention from diverse sectors in business, government, technology, and other industries.

2018-8-3 19:08


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