Here’s why Binance can’t erase the $40M hack from Bitcoin’s blockchain

2019-5-8 13:31

The head of cryptocurrency exchange Binance responded to a 7,000 BTC ($40 million) hack with an outlandish idea: take over the entire Bitcoin blockchain and cancel the transactions. A major digital asset exchange openly colluding with cryptocurrency mining pools to reverse transactions would certainly be bad for PR.

It would also critically undermine Bitcoin‘s primary value proposition: that it’s transactions are effectively immutable and censorship-resistant. Binance CEO Changpang Zhao conceded this reality by announcing he’s dropped the idea after consulting with advisors, among them Jihan Wu of the infamous cryptocurrency mining firm Bitmain. “One, we may damage credibility of Bitcoin,” Zhao…

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Источник: thenextweb.com

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Freshly Created Wallet Withdraws $59,000,000 in Bitcoin from Binance, Accumulation or Exodus?

Over the past 24 hours, two newly-created Bitcoin addresses withdrew a total of 2,273 BTC (valued at around $59 million) from cryptocurrency exchange Binance. These large withdrawals, identified by on-chain analyst Lookonchain, have sparked speculation among crypto market observers about potential increased institutional or whale buying at current Bitcoin price levels.

2023-8-23 11:11


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Binance Coin Diverges From the Pack as Bitcoin Breaks Below $10,000

Bitcoin’s stay above $10,000 only lasted about a day as the major cryptocurrency sunk just below that key mark on Monday. This prompted the majority of the market to follow suit as most other cryptocurrencies have a strong correlation to Bitcoin’s movements, except Binance Coin (BNB) In fact, while Bitcoin may be having an impressive […] The post Binance Coin Diverges From the Pack as Bitcoin Breaks Below $10,000 appeared first on BeInCrypto.

2020-2-11 16:34


Binance Research Indicates HODLing Bitcoin Is the Most Effective Strategy To Increasing Profits

Binance Research says that HODLing Bitcoin is the best strategy and they may just be right, considering Bitcoin mostly goes up only a few days a year. When in doubt? #HODL. Not holding #Bitcoin on Dec, 7 2017 means you would have missed its largest daily absolute gain of $3,608 (25%). The chart below (from […]

2019-11-15 21:35


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Binance Chain Reigns Supreme in $80 Million Bitcoin Sidechain Market

We’ve all heard it happening before — someone manages to send their Bitcoin (BTC) to an address on a different blockchain, and pretty much has to kiss their money goodbye. However, with the advent of Bitcoin sidechains, it’s now possible to safely transfer Bitcoin to a variety of other blockchains in return for native BTC-pegged […] The post Binance Chain Reigns Supreme in $80 Million Bitcoin Sidechain Market appeared first on BeInCrypto.

2019-10-18 17:05


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Bitcoin Liquidations: BitMEX, Binance Bosses Duke It Out On Twitter

Cryptocurrency exchange Binance has sparked the wrath of BitMEX, one of its biggest competitors after claiming to have invented an essential bitcoin trading tool.   Hayes to CZ: Attend My Bitcoin Derivatives Trading 101 In a Twitter debate which continues to play out, Changpeng Zhao, known as CZ in cryptocurrency circles went head to head with BitMEX CEO Arthur Hayes.

2019-9-18 23:00


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BNB beacon chain testnet is set to undergo a hard fork upgrade dubbed Einstein next week. It requires all node operators to update their software before the process begins. Einstein upgrade to go live in January The largest crypto exchange…