#1 Source for BlockChain News

Category archive

binance exchange

Binance Trading Suspension | Trades Halt After SYS Trading Irregularities

Binance trading suspension: 13 hours ago, Binance announced that it would go through another ‘system maintenance,’ which resulted in another suspension of trading on its platform for an extended period of time.

A week and a half ago, the major cryptocurrency exchange went through a similar event that resulted in the suspension of the exchange for ten hours.

This time, there was eight hours of downtime.

Binance Trading Suspension: SYS Trading Irregularities

During its maintenance, the Binance internal risk management system found irregular traders in a number of API users. This prompted the suspension of trading and withdrawals on the Binance platform.

The suspension of withdrawals and trades was not originally planned but was a decision made during the maintenance process.

Syscoin, a fork of the Bitcoin protocol, announced yesterday that it had noticed a potential issue and asked major exchanges to suspend the trading of SYS immediately.

This is what prompted Binance’s maintenance, and when irregularities were found, action was taken.

Binance responded to its users affected by the SYS price fluctuation and said:

“For the users who were negatively affected by choosing to trade the rising SYS price, Binance will offer zero-fee trading between 2018/07/05 – 2018/07/14. If you traded SYS during the incident and believe you were negatively affected, please open a support ticket.”

In addition to this, all other Binance users will be given a 70% rebate of the trading fees received from Binance (not including referrals) between July 5th and July 14th. This rebate will be paid out in BNB and calculated using the closing price on the 14th.

>> Binance Halts Trade in System Upgrade

Secure Asset Fund for Users (SAFU)

Binance is also making forward steps to protect its users and is opening a Secure Asset Fund for Users (SAFU). This will begin on the 14th of July, and the company will allocate 10% of all its trading fees to offer protection to Binance users.

These funds will be used in extreme cases such as the one today and any other hacks that could potentially occur on the platform. The SAFU funds will be stored in a separate cold wallet.

While Binance has no control over external cryptocurrency factors such as the one that occurred with SYS, it’s nice to know it is setting some funds aside for its users if these incidents do occur.

Featured Image: Twitter

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Binance Uganda | Fiat Crypto Exchange Launching in Uganda

Binance Uganda: The world’s most active cryptocurrency exchange by trade volume, Binance, just announced that it would be opening its first exchange in Uganda.

According to the statement made on the company’s website, Binance told its users that it would be starting a fiat-crypto trading pair with the Uganda Shilling.

The statement reads:

“Binance is excited to announce our first fiat crypto exchange – Binance Uganda! Registrations for Binance Uganda will open from today, and the first 20,000 users to register on www.binance.co.ug will each be rewarded with 0.5 BNB.”

Binance will be offering users in Uganda a month of free trading, once the trading pairs come online. The date isn’t yet set for the launch of the trading pairs, but the company states it will be announced soon.

The total rewards for the promotion above are limited to 10,000 BNB. The rewards will be distributed on a first come, first serve basis.

Giveaway Rules

Binance made the statement that it has the right to amend or cancel this promotion at its discretion.

The rewards will be given out within two days of the official launch of the trading pairs. To see if you’re one of the winners, login to your account and access the ‘Distribution History’ within the Account Center.

ID verification must be completed to withdraw from Binance Uganda.

Financial Institutions in Uganda

Ugandans’ access to financial services has dramatically changed within the last few years. It was specifically driven by the digital inclusion through wide adoption of mobile money platforms.

According to a World Bank news report, more than half of the adults within Uganda have access to an account at a formal financial institution. This is double what it was just ten years ago. However, only about 15% of the same population keep their savings at these financial institutions.

>> Will Facebook Acquire Coinbase?

Featured Image: Depositphotos/© ognjen1234

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Binance Trading Resumes – Crypto Exchange Shares New Binance Info App

Binance – This morning, the world’s fourth-largest cryptocurrency trading platform, Binance underwent a system upgrade that temporarily halted all trades.

Trading was supposed to only last four hours, but with complications, ended up resulting in ten hours of downtime.

The upgrade was completed in seven hours, but then Binance’s risk management system detected a bug which resulted in a postponement of trades. During that time, Binance’s CEO informed the platform users that investors funds were safe.

>> Bithumb Hack

Back in Business – Info App

Binance trades and deposits began at 20:00 PM (UTC +8), but withdrawals were postponed until 1 to 2 hours after. Currently, the Binance platform seems to be running smoothly.

A tweet and Youtube video were recently deleted by Binance staffers about the platform’s new upcoming venture.

The video was uploaded and dated back to the 24th but showcased that Binance will be introducing its own information app. The YouTube video didn’t give specifics about what will be on the information app, but my guess is it will be similar news to that of Apple or Google news.

The information may be more centered around its Binance Coin (BNB) and news that will positively affect the site. I suspect any negative media will not be portrayed on the new app.

Currently, they are asking a limited amount of people to take part in their Beta testing of the app. If you are interested, click this link. It remains unknown when the official app will be released, but since it is already in its Beta stages it could be expected very soon. Hopefully, the company’s social media manager isn’t in too much trouble!

Featured Image: Shephard

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Binance Euro Trading Pairs – It’s Happening this Year!

Binance euro trading pairs – it’s finally happening! This is huge news because this will be the first fiat currency option to become available on Binance.

Binance has always previously been strictly a crypto-to-crypto exchange. It hasn’t dealt in fiat currency, mostly because fiat exchanges are usually subjected to more regulations than crypto-to-crypto exchanges. But being a crypto-to-crypto exchange has its limits as well, namely that it means customers can’t cash out directly from the exchange.

CEO of Binance Changpeng Zhao told Bloomberg that the exchange would be launching Binance euro trading pairs later …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.

Go to Top
%d bloggers like this: