Does Binance Have A Phone Number

International, multi-linguistic communication cryptocurrency exchange

Binance

Industry	cryptocurrency industry
Founded	July 2017; v years agone  (July 2017) [one] [2]
Founders	Changpeng Zhao (“CZ”) Yi He[iii]
Expanse served	Global, except for the United States[4]
Key people	Changpeng Zhao (CEO)
Products	Cryptocurrency commutation, cryptocurrencies
Acquirement	~Us$twenty billion[5]
Subsidiaries	CoinMarketCap Sakura Exchange Trust Wallet Binance Charity
Website	www.binance.com

Binance
is a cryptocurrency exchange which is the largest commutation in the earth in terms of daily trading volume of cryptocurrencies.^[six]
It was founded in 2017 and is registered in the Cayman Islands.

Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in Communist china, just afterward moved its headquarters out of China shortly earlier the Chinese government imposed regulations on cryptocurrency trading.

In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and taxation offenses.^[7]
[8]
[ix]
The UK’southward Financial Conduct Dominance ordered Binance to stop all regulated activity in the United Kingdom in June 2021.^[10]

In 2021, Binance shared client data, including names and addresses, with the Russian regime.^[11]

History

2013–2017: company ancestry and movement out of Communist china

CEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for stockbrokers. In 2013, he joined Blockchain.info as the tertiary member of the cryptocurrency wallet’s team. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets.^[12]

The company was founded in 2017 in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017.^[xiii]

2018–2019: launch of stable coin and security breach

In January 2018 it was the largest cryptocurrency exchange with a marketplace capitalization of $1.3 billion,^[fourteen]
a title it had retained equally late as April 2021, despite contest from Coinbase, among others.^[15]

In March 2018, Binance announced its intentions to open an office in Malta subsequently stricter regulations in Japan and China.^[sixteen]
In April 2018, Binance signed a memorandum of understanding with the government of Bermuda.^[17]
Months after, a similar memorandum was signed with the Republic of malta Stock Exchange to develop a platform for trading security tokens.^[xviii]
In 2019, visitor appear Binance Jersey, an independent entity from its parent Binance.com exchange, with the aim to expand its European influence. Jersey based exchange offers fiat-to-cryptocurrency pairs, including the Euro and the British pound.^[nineteen]

In Apr 2018, Binance launched the Binance Charity Foundation. The clemency’due south goal is to support the advocacy of blockchain-enabled philanthropy with a focus on tertiary-world countries.^[20]

In July 2018, Binance acquired Trust Wallet, a decentralized cryptocurrency wallet for an undisclosed sum. Hovever, Binance, confirmed that the compensation is a mixture of cash, Binance stock, and a portion of its BNB token.^[21]

In August 2018, Binance along with three other large exchanges raised $32 million for a stablecoin project. The idea of stable coins is to provide a cryptocurrency without the notorious volatility of Bitcoin and other popular digital assets.^[22]

In Jan 2019, Binance appear that information technology had partnered with State of israel-based payment processor Simplex to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard. The purchases are subject to Simplex’due south local depository financial institution policies and are express to Bitcoin, Ethereum, Litecoin and Ripple’due south XRP.^[23]

On 7 May 2019, Binance revealed that it had been the victim of a “large scale security breach” in which hackers had stolen 7,000 Bitcoin worth around U.S.$40 one thousand thousand at the time.^[24]
Binance CEO Changpeng Zhao said the hackers “used a multifariousness of techniques, including phishing, viruses and other attacks” and structured their transaction “in a way that passed our existing security checks.”^[25]
Binance halted further withdrawals and deposits but allowed trading to continue. The site pledged to reimburse customers through its “Secure Asset Fund for Users (SAFU)”.^[26]
[27]
Withdrawals resumed past nineteen May.^{[28]
[
amend source needed
]}

In September 2019, the exchange began offer perpetual futures contracts, allowing leverage as high as 125 times the value of the contracts.^[29]
In November 2019, Binance announced it was acquiring Indian bitcoin substitution WazirX, which became disputed in August 2022 when Binance founder Zhao claimed the deal was never signed.^[thirty]

2020–2022: acquisitions and investments

On 21 February 2020, the Republic of malta Financial Services Authorization (MFSA) issued a public statement responding to media reports referring to Binance every bit a ‘Malta-based’ cryptocurrency company. The statement noted that Binance “is not authorized by the MFSA to operate in the cryptocurrency sphere and is therefore non subject field to regulatory oversight by the MFSA.” The MFSA added that it was “assessing if Binance has whatsoever activities in Malta which may not fall inside the realm of regulatory oversight.”^[31]

In March 2020, Binance caused CoinMarketCap.^[32]
Although the price of the acquisition was not disclosed, it’s reported to be up to $400 million. CoinMarketCap was founded in 2013 and is one of the largest cryptocurrency online tracking tools.^[33]

On 28 October 2020,
Forbes
staff released leaked documents showing that Binance and Changpeng Zhao created an elaborate corporate structure designed to intentionally deceive The states regulators and secretly profit from cryptocurrency investors located in the land.^[4]
Binance officially blocks access from IP addresses located in the Us, but “potential customers would be taught how to evade geographic restrictions”,
Forbes
claimed.^[iv]

In May 2021 it was reported that Binance was under investigation by both the Internal Acquirement Service and the Us Department of Justice on allegations of money laundering and tax offenses.^{[7]
[8]
[nine]}

In February 2022, Binance took a $200 1000000 pale in
Forbes.^[34]

In March 2022, among the 2022 Russian invasion of Ukraine, Binance’s CEO Changpeng Zhao, refused to ban users from Russia, citing “financial freedom”.^[35]
Binance later softened the tone of their opposition but not their policy, and also pointed to their donation of $x million for humanitarian needs in Ukraine.^[36]

In April 2022, Reuters reported that, in 2021, Binance shared information with Rosfinmonitoring nearly funds raised by jailed Russian opposition leader Alexei Navalny’s network.^[37]

On 27 May 2022, Binance announced the registration of its legal entity in Italy, and has plans of opening offices and expanding the local team in the area. CEO Changpeng Zhao also shared information regarding Binance’s registration with France’south marketplace regulator. The company is also seeking registration in more European countries, such equally Switzerland, Sweden, Espana, Netherlands, Portugal and Austria.^[38]

On xiii June 2022 Binance announced that users would, for an unspecified flow of time, exist unable to withdraw their funds held in Bitcoin, every bit the value of cryptocurrencies suffered serious declines.^[39]
Ii hours subsequently that announcement, Bitcoin withdrawals were allowed to resume.^{[40]
[
ameliorate source needed
]}

Binance has a strong make presence in Africa. Binance sponsored the Africa Cup of Nations in 2021.^[41]
[42]
It is likewise taking crypto pedagogy to many countries on the continent.^[43]

Binance invested Us$500 million towards the acquisition of Twitter by Elon Musk that completed in October 2022. Following the investment, the company appear the creation of a team to work on how blockchain and cryptocurrencies could be helpful to Twitter.^[44]
[45]

On 8 Nov 2022, Binance offered to buy rival cryptocurrency exchange FTX’southward non-Usa operations (FTX.com) to assistance cover the latter’southward liquidity crunch.^[46]
[47]
Binance backed out of the deal the next solar day citing concerns about FTX’s business organization practices and investigations by US fiscal regulators.^[48]

On November thirty, 2022, Binance purchased Sakura Commutation. The acquisition allowed Binance to re-enter the Japanese Crypto market.^[49]
[50]

Binance coin (BNB)

Build’N’Build

Denominations
Code	BNB
Previous names	Binance Coin
Evolution
White paper	BNB Whitepaper
Initial release	July 2017; v years ago  (2017-07)
Evolution status	Agile
Ledger
Block explorer	bscscan.com
Circulating supply	161,337,261.09
Supply limit	200,000,000
Valuation
Exchange rate	~300$
Marketplace cap	$47,892,036,167
Website
Website	www.bnbchain.org

The company has launched 2 cryptocurrencies which information technology developed itself: Binance Coin (BNB), and BinanceUSD (BUSD).^[51]
BNB launched July 2017,^{[
commendation needed
]}
which started as an Ethereum token and later moved to Binance Smart Chain (BSC),^[52]
launched September 2020.^[53]
BSC later merged with the older Binance Concatenation and was rebranded into BNB concatenation.^{[54]
[55]
[
improve source needed
]}
BNB Chain operates using “Proof of Staked Authority”, a combination of proof of stake and proof of authority. Information technology has 21 canonical validators. Every bit of 2021, Binance Coin was the cryptocurrency with the third highest market capitalization.^[51]
Binance allows its users to pay fees on its exchange with BNB.^[51]

BSC supports smart contracts and is compatible with the ethereum virtual machine (EVM).^{[
citation needed
]}

There have been multiple criticisms of Binance Smart Chain concerning its level of centralisation, which had led to several exploits on the network.^[54]

BUSD

Binance USD

Denominations
Code	BUSD
Evolution
Initial release	September 10, 2019; 3 years ago  (2019-09-10)
Development condition	Active
Ledger
Cake explorer	etherscan.io
Circulating supply	nineteen,016,156,336.57 (Every bit of 23 August 2022)
Supply limit	Unlimited
Valuation
Exchange rate	Pegged to the U.s. Dollar
Market cap	$19,014,856,231
Website
Website	binance.com/en/busd

BUSD, or BinanceUSD is a US Dollar pegged stablecoin issued by Binance.^[56]
According to Binance it is backed one:1 by a reserve of US Dollars and was founded by them in partnership with Paxos who is the issuer of the token. Paxos holds the reserves only partially in cash deposited in their US banking company accounts with the other part held in U.Southward. Treasuries. BUSD is natively issued on the Ethereum blockchain by Paxos. Binance creates Binance-Peg BUSD by locking the natively ERC-20 BUSD in a smart contract on the Ethereum Blockchain and issuing Binance-Peg BUSD equivalent to the corporeality held in reserve in the smart contract. Binance-Peg BUSD is native to BNB chain.^{[57]
[
better source needed
]}

BUSD is a widely used stablecoin being the tertiary largest stablecoin by market capitalisation^[58]
following USDT and USDC.^[59]

Legal condition

United States

In 2019, Binance was banned in the United states of america on regulatory grounds. In response, Binance and other investors opened
Binance.United states, a separate substitution designed to comply with all applicable The states federal laws, which nonetheless is banned in half-dozen states: Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.^[lx]
In May 2021, Bloomberg News reported that Binance was under investigation by the Usa Department of Justice and Internal Acquirement Service for money-laundering and revenue enhancement evasion.^[61]
In June 2022, the United states of america Securities and Substitution commission launched an enquiry into Binance to determine if the company’due south 2017 ICO of BNB tokens amounted to an illegal auction of a security.^[62]
In December 2022, Binance’s American entity Binance.Usa will acquire Voyager Digital’s assets in a $1.02 billion bargain.

United Kingdom

In June 2021, Binance was ordered by the Britain’s Financial Acquit Dominance to stop all regulated activity in the United Kingdom.^[63]
[64]
In January 2021, the FCA began requiring firms dealing with cryptocurrency to register in order to comply with anti-money laundering rules.^{[
citation needed
]
[
may be outdated equally of Jan 2021
]}

Japan

On June 25, 2021, Nihon’s Fiscal Services Agency warned Binance that it was not registered to practice business concern in Japan.^[65]
This was the second notice Binance received from the FSA. Previously, a similar alert was issued on March 23, 2018.^[66]

Italian republic

In July 2021, Italy’s Commissione Nazionale per le Società e la Borsa ordered Binance to be blocked from operating.^[67]
In May 2022, Binance gained regulatory blessing in Italy, allowing the company to provide digital asset services in the country.^[68]

French republic

In May 2022, Binance gained regulatory approval in France, allowing the visitor to provide digital asset services in the state. France is the first European country to requite Binance regulatory approval.^[69]

Germany

In April 2021, the Federal Financial Supervisory Potency in Germany warned that the company risked fines for not releasing an investor prospectus for the stock tokens it has issued.^[lxx]

Thailand

Thailand’due south Securities and Exchange Commission filed a criminal complaint against Binance on July 2, 2021, “for commission of offence under the Emergency Decree on Digital Asset Business organization B.E. 2561 (2018)”. Additionally, Thailand’due south SEC cited Binance for operating without a license, a violation of Department 26 of the Digital Nugget Businesses Emergency Prescript.^[71]

Canada

On March 17, 2022, Binance has confirmed in an undertaking to the Ontario Securities Commission that it would end opening new accounts and halting trading in existing accounts for users in Ontario.^[72]
[73]

Netherlands

In April 2022, The Dutch central bank appear a €iii.3m fine for Binance due to offering services within the Netherlands without being registered in the country. The fine was issued to the company later on an official warning was issued to the company during Baronial 2021.^[74]

India

In Baronial 2022, India’s Enforcement Directorate froze the assets of WazirX, an exchange owned by Binance, as part of a money laundering investigation.^[75]
Following the event, CEO Zhao claimed that they never endemic WazirX or owned whatsoever equity in Zanmai Labs—the operating entity of WazirX—citing “a few problems” that prevented the completion of the acquisition. The co-founder of WazirX, Nischal Shetty, disputed Zhao’s claims asserting that Binance had indeed acquired them.^[76]

See also

• Bitfinex
• Kraken
• Coinbase
• BTCC_(visitor)

Notes

References

External links

• 
  Official website