“From a financial perspective, there is a big hole. From new users, we have very high overlaps. We cover all the regions they cover and they have much less users than us. From a technology or product perspective, I think we have a superior product. They don’t have anything we don’t have.”

The Binance Labs Incubation Program is a chain-agnostic initiative that aims to empower innovative blockchain projects to shape the future of Web3.

Binance says as they work to develop a POF Merkle tree that they will share with the community in the coming weeks, this serves as a starting point.

Deep dive into the latest developments of the FTX collapse, by analysing all the verifiable information, and related events that have come out since the initial collapse.

While flagging efforts to remain above board in the United Kingdom, Binance announced it hired a new director. In a LinkedIn post, Binance Regional Manager of Europe and the UK Ilir Laro said his company picked Nish Patel to be a director. "Our main focus will be to register and comply with the UK's Financial Conduct Authority to operate a regulated crypto-asset business in the UK," Laro wrote. 

FTX has approached U.S.-based crypto exchange Kraken about a potential rescue deal, Axios reported, citing two people familiar with the matter.

Binance, the leading crypto exchange recently called off its partnership deal with bankrupt FTX after the firm learnt that FTX has mishandled its customer funds and alleged US agency’s investigations.

Binance will not go ahead with the proposed deal to acquire FTX unless the US-based exchange partner FTX. US is part of the deal, according to a source with knowledge of the matter and text conversations reviewed by Blockworks.

Sequoia Capital on Wednesday assured investors that the company had limited exposure to FTX and will pull out of its investment in the troubled cryptocurrency exhange, after an FTX deal with peer Binance collapsed.

In a bid to avoid a bank run-like situation, major exchanges have made announcements to calm down users. Earlier today, Coinbase CEO Brian Armstrong tweeted a detailed thread outlining the steps taken by his company to ensure the security of user funds.