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CZ Binance Slammed for Lack of Transparency as Absence of Malta License News Spreads Fast

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Fri, 02/21/2020 - 15:00
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  • Crypto trader criticizes Binance for delaying the promised ‘post mortem’ on the recent maintenance, meanwhile CZ responds to the news of Binance lacking Malta license

Cover image via www.forbes.com
Contents

Two days ago, the Binance exchange suddenly halted its operations for a while, which proved to be six hours. Everything but Binance Futures was on maintenance.

In one of his tweets after trading resumed, Changpeng Zhao promised to release post mortem later on.

Giving away $1 mln in BNB

Now Binance is conducting a giveaway of 50,000 BNB – over $1 million – to thank the community for the patience and support during the unscheduled maintenance.

However, some users are not happy with the recent Binance performance, including the fact that the promised explanation of the issue has not been published yet.

Must Read
Binance Goes on Unscheduled Maintanance, Community Afraid to Lose Funds - READ MORE

CZ responds to the reports on Malta license

As reported by several media outlets earlier, the Malta Financial Services Authority (MFSA) had published a statement saying that the Binance exchange has nothing to do with it – neither geographically, nor legally or regarding regulation.

Many on the crypto Twitter started insisting on CZ addressing this issue.

Changpeng Zhao has responded, calling these reports a ‘mix of truth, FUD & misconception’.

Binance is not based in Malta, nor does it operate there, since the exchange exists in the blockchain world and operates from various parts of the planet, he says.

“Binance has a number of regulated entities around the world, either operated by our partners or by Binance.com directly. We work closely with regulators and comply with the rules in the places where we operate.”

“Binance.com has always operated in a decentralized manner as we reach out to our users across more than 180 nations worldwide. As well as pushing the envelope in experimenting how to become a true DAO (decentralized autonomous organization).”

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Tue, 03/31/2020 - 19:25
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  • Bitcoin (BTC) bulls have high hopes for Q2 after the coronavirus-induced crisis tanked the price of the leading cryptocurrency

Cover image via stock.adobe.com
Contents

Bitcoin, the number one cryptocurrency by market capitalization, is set to finish its tumultuous first quarter of 2020 in the red with a 10.65 percent drop, according to crypto data provided by Skew.    

As reported by U.Today, it suffered a price crash of enormous magnitude due to the coronavirus pandemic that resulted in the global economic shock. 

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Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year - READ MORE

The stellar quarter that wasn't 

In early 2020, Bitcoin was on track to have its best Q1 since 2013. In fact, it gained more than 50 percent after reaching its current yearly high of $10,508 on Feb. 13. However, this rally hit a snag and BTC printed its first negative February close in six years

All bull dreams have been brutally shattered after the 'Black Thursday' of May 12. On top of halving its price in less than one day, BTC was actually in great danger of hitting zero because of a string of liquidations on BitMEX. 

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The odds are in the bulls' favor  

That said, there is still a good chance that the bulls can stage an impressive comeback in Q2, which is historically the most successful quarter for the leading cryptocurrency.

Last year, BTC kicked off its impressive rally on Apr. 2 with a sudden 20 percent price pump.   

At press time, BTC is sitting at $6,480, continuing its streak of range-bound price action.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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