did binance just crash？
Bitcoin prices plunged nearly 90 percent on the United States trading platform Binance in a flash Thursday morning. Prices dropped to as low as $8,200 from around $65,000. The cryptocurrency exchange attributed the flash price crash to a “bug” in the trading algorithm of an institutional customer.2021年10月22日
In this regard,Why is US Binance not working?
In 2019, Binance was banned in the United States on regulatory grounds and is no longer accessible for U.S. citizens. In response, Binance partnered with a U.S. branch called Binance.US, which the company says is a separate exchange. Binance.US is legal, but it is not available in all U.S. states.
Accordingly,What is the issue with Binance?
While Binance is currently the largest cryptocurrency exchange in the world by trading volume, it’s also facing regulatory issues in several countries. In the United States, it’s currently under investigation by U.S. authorities on allegations of money laundering and tax offenses.
Subsequently, question is,What will happens if Binance shuts down?
Users will be able only to withdraw and move their crypto to third-party platforms or crypto wallets, and/or withdraw their SGD. “All accounts must be closed by February 13 2022,” the statement said.
Beside above,What happened to my crypto in Binance?
In 2020, Binance shut off access to all accounts based in the United States due to pressure from regulators. Unfortunately, this move caused thousands of Americans to lose access to their Binance accounts, and by extension, their cryptocurrency holdings.
Coinbase is best for buy and hold investors who want to purchase a currency and hold it for the long term. Binance offers much lower fees per transaction, as well as incentivizing high-volume traders with their fee structure. While they use a maker-taker fee structure, both the maker and taker fees are identical.
Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency….Binance.
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USDⓈ-M Futures, Coin-M Futures, Margin, Binance Options, Vanilla Options and Leveraged Tokens (“Futures and Derivatives Products”) will not be available to all users of the Netherlands, Germany, Italy, Australia and Hong Kong, and retail users of the United Kingdom.
Binance.sg, a fiat currency-to-digital token trading platform, will wind down operations and close by Feb. 13, the company said, adding that it will stop accepting new registrations, crypto and currency deposits, and trading on the Singapore portal immediately.
The FCA had ordered Binance to stop all UK regulated activity last June over worries about weak consumer protections, amid a wider crackdown on the cryptocurrency industry’s potential role in fraud and money laundering.
While Binance doesn’t have a detailed list of supported nations, it does have a list of specific features allowed for certain countries. For instance, the exchange has a list of countries that it supports for crypto to fiat withdrawals. This includes the UK, Belgium, France, Germany, Italy and others.
In addition, Binance offers fee reductions for referrals of new users. Since trading fees do not directly relate to the products traded, U.S. regulations do not apply to the fees Binance.US charges. As a result, Binance.US offers the same low fees and discounts as its parent company.
However, Binance.US offers a limited selection of cryptocurrencies compared to other exchanges and doesn’t support margin or futures trading. It’s also not available in all U.S. states, so residents of Hawaii, Idaho, New York, Texas, and Vermont will need to look elsewhere.