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Established in 2017, Japan. No. of pairs - 360. Fiat - no. Centralized exchange. KYC & Restrictions - yes.

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Binance futures market maker ‘attack’ turns out to be a bug

Binance almost became the victim of a market maker attack in the early hours of Sep. 16. However, the exchange’s CEO Changpeng Zhao soon revealed that the “attack” on the new futures platform was actually the result of a bug, causing the crypto-community to criticize him for making hasty accusations. A “known” market maker allegedly attacks Binance After officially opening for business on Friday, Sep. 13, the eyes of the crypto industry were pointed at Binance’s futures platform. While the weekend went on without any hiccups, the platform saw some serious drama as the workweek began. Changpeng Zhao, the CEO of Binance, announced that a market maker tried to attack the futures platform. In a Twitter post, Zhao said that the attacker was a “market maker” from a small futures exchange, but that no one was liquidated. A market maker from a smaller futures exchange tried to attack @binance futures platform. NO ONE was liquidated, as we use the index price (not futures prices) for liquidations (our innovation). Only the attacker lost a bunch of money, and that was that. pic.twitter.com/ztMZEtYKc6 — CZ Binance (@cz_binance) September 16, 2019 Zhao shared a screengrab of the futures platform that showed Bitcoin futures briefly dropping from $10,324 to $10,042. In a follow-up tweet, Zhao explained that a “well-known” account was responsible for the failed attack, adding that this was the second time such an attack was tried on Binance. The attacker is a well-known account that trades with @binance, and started their own futures exchange a few months ago. This was the 2nd attempt they tried. Shame! — CZ Binance (@cz_binance) September 16, 2019 The alleged attacker didn’t manage to take advantage of the sudden price dip and force other Binance users to get liquidated. Zhao explained that this was prevented by the fact that Binance’s futures platform doesn’t use the futures price for liquidation, but the exchange’s own index price. Market maker attack actually a bad parameter However, Zhao has been known to be quick on the trigger when it comes to reactions and accusations, especially on Twitter, which is why most of his followers took the announcement with a grain of salt. Many criticized him for posting harsh accusations without investigating the matter first, saying rash decisions like that made them trust Binance less. Imagine being so unprofessional that you publicly call someone out for manipulation without the facts — Ben (@BenLearnsTradin) September 16, 2019 It quickly turned out that the sudden drop in futures prices wasn’t the result of a malicious attack, but a consequence of a bug on the platform. An hour after posting the original tweet, Zhao said that he had a chat with the client he suspected was responsible for the attack and found that it was an accident due to a “bad parameter on their side.” While Zhao has been known to handle situations like these a bit more lighthearted than other exchange execs, few seemed to support the way he handled this. Even Binance Coin (BNB) couldn’t stay immune to the drama—the exchange’s native token dropped 2.2 percent following the news. The post Binance futures market maker ‘attack’ turns out to be a bug appeared first on CryptoSlate.
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Binance Futures Platform Suffers 3% Flash Crash amid Market Maker’s Error

Earlier today, Binance’s futures platform suffered a flash crash of nearly 3 percent in a matter of just seconds. Initially, Binance CEO Changpeng Zhou (CZ) took to Twitter to announce that the flash crash had comprised a deliberate attack executed by a market maker known to the exchange. A market maker from a smaller futures […] The post Binance Futures Platform Suffers 3% Flash Crash amid Market Maker’s Error appeared first on CCN.com
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Bitcoin Ethereum Litecoin Ripple Binance EOS Technical Analysis Chart 9/16/2019 by ChartGuys.com

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Binance Futures Crash: CZ Blames “Attack”

Changpeng Zhao, CEO of Binance, has blamed a crash in the price of Bitcoin futures on an ‘attacker’. He claims that this was done by a customer who started their own futures exchange a few months ago, but quickly clarified that he had spoken to said client and that it was caused by a mistakeRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

BitMEX vs Binance – Hayes and Zhao Locked in a Twitter War Over Claims of Innovation

Earlier today, Binance CEO, Changpeng Zhao, also known as CZ, announced on Twitter that someone had tried to attack the Binance futures platform. CZ declared the attempt unsuccessful because Binance futures’ liquidation was tied to index price and not futures price. He also claimed that tying liquidation to index price and not futures price was Binance’s innovation. However, the false claim did not go unnoticed and BitMEX CEO, Arthur Hayes trolled CZ in a rather sarcastic tweet.  Arthur Is Teaching “Copy-Pasting” In Singapore And Wants To Enrol CZ In what could be described as the most savage retort of the day in the crypto community, BitMEX CEO, Arthur Hayes has sarcastically extended a hand of tutelage to Binance boss, Changpeng Zhao in order to teach him how to really “copy-paste” innovations. This news comes following a controversy that erupted after CZ laid claims on an innovation that happens to have been implemented by BitMEX first. A Twitter user, @lowstrife replied to CZ’s claim by pointing out that liquidation tied to index prices was an exchange feature that had existed on BitMEX for a long time, thus, rebutting CZ claims of the innovation. No response on the tweet was received from CZ himself but Arthur Hayes had something to say. He sarcastically offered CZ classes in advanced copy-pasting for running a crypto derivatives platform in exchange for 51% of CZ’s equity. Retweeting the post by @lowstrife, Hayes said – Next time I’m down in Singapore @cz_binance please attend my running a crypto derivatives platform 101. I teach advanced cntl+C cntl+V methods. Price of entry … 51% of your equity. https://t.co/RYGkf4aJih — Arthur Hayes (@CryptoHayes) September 16, 2019 CZ Responds! As expected, CZ responded by making fun of the whole affair while and trying to explain that the tweet was “misleading in the way it was written”. In the same vein, CZ offered to take attend any of Arthur Hayes’ classes in exchange for 49% of any venture that Hayes ran. According to CZ, lol, let me book that flight for ya. Happy to attend any class to own 49% of any venture you run. (I read the tweet again, it was misleading in the way it was written. I didn't mean the index price liquidation is our invention. but anyway… no edit button) — CZ Binance (@cz_binance) September 16, 2019 Earlier Hayes Alleged Binance Plagiarizing Features From BitMEX Coingape recently reported that BitMEX, in a sarcastic tweet, had claimed that Binance had copy-pasted the documentation for their futures platform. Arthur Hayes, at that time, had retweeted the same with a meme and a remark directed at CZ. @cz_binance y'all can do better than that 🤡 https://t.co/fwZencbJ4w pic.twitter.com/XW5atKqAg6 — Arthur Hayes (@CryptoHayes) September 4, 2019 CZ had responded to this by simply apologizing and maintaining that they didn’t read the documents, and promising to remove the plagiarized documents. He also uploaded the links for official documents of futures to be reviewed by BitMEX. The post BitMEX vs Binance – Hayes and Zhao Locked in a Twitter War Over Claims of Innovation appeared first on Coingape.
CoinGape

Crypto Futures Giant Fight Continues: BitMEX Blames Binance For Copying (Take Two)

The plagiarism saga between BitMEX and Binance, perhaps the two most prominent cryptocurrency exchanges in today’s market, keeps going with full force. After Changpeng Zhao tweeted that a certain market maker has tried to attack their futures platform and no one got liquidated because of their “innovation”, citing their liquidation policy, the CEO of BitMEX, Arthur Hayes, responded immediately that he’d give him a Copy/Paste course for 51% of his equity. BitMEX’s Arthur Hayes Strikes Again Earlier today, the CEO of the world’s leading cryptocurrency exchange, Changpeng Zhao, revealed that their relatively new futures platform was under attack by a market maker. Fortunately, however, no one got liquidated. Zhao revealed that the reason for this is that they “use the index price (not futures prices) for liquidations,” calling this methodology their “innovation.” What followed was a wave of comments that this is, by no means, Binance’s innovation as BitMEX has had its liquidations tied to the index price for a long time. Naturally, the CEO of BitMEX, being the persona that he is, didn’t wait for too much to comment on the matter. Next time I’m down in Singapore @cz_binance please attend my running a crypto derivatives platform 101. I teach advanced cntl+C cntl+V methods. Price of entry … 51% of your equity. https://t.co/RYGkf4aJih — Arthur Hayes (@CryptoHayes) September 16, 2019 Zhao responded to his tweet, saying that his tweet was, indeed, misleading “in the way it was written.” He explained that he didn’t mean to call the index price liquidation methodology their innovation. Not so long after that, the official Twitter account of BitMEX posted that it’s “great to see traders on other exchanges being protected and benefitting from our innovation.” Regardless of the intention, this tweet definitely seems particularly targeted. How It All Started The entire back-and-forth tweet exchange between two of the most prominent individuals in the entire cryptocurrency space, namely Arthur Hayes and Changpeng Zhao, began earlier this month. As Binance announced the launch of two futures testnet platforms and acquired a crypto-asset derivatives platform, intending to launch cryptocurrency futures, options, and other derivatives, it also created a separate page on Auto Deleveraging. As it turned out, however, the content within that page was entirely plagiarized by the same page which already existed on BitMEX. Back then, Zhao said that he is sorry about this mistake and that it has been missed in the due-diligence process before the acquisition of the derivatives platform. Regardless of whether or not the face-off between Hayes and Zhao has any actual implications on the market, it’s definitely refreshing and, as one user had pointed out, it takes some of the attention away from the constantly ongoing Bitcoin v. Ethereum debate. The post Crypto Futures Giant Fight Continues: BitMEX Blames Binance For Copying (Take Two) appeared first on CryptoPotato.
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Binance news by Finrazor

HIGHLIGHT

Binance Launches Testnet of Decentralized Exchange

The world’s largest cryptocurrency exchange, Binance announced the launch of Binance DEX testnet. Binance DEX is said to be secure and scalable – with a block interval of one second. User account registration is now open. Testnet went live on Wednesday morning, 20 February 2019

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DIGEST

This week twitter-community is waiting for the BCH fork, reading Vitalik Buterin and expressing opinions... — nothing uncommon, but quite lively

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DIGEST

eToro supports universal basic income ideas, Axoni raises additional $36M, Binance welcomes institutional investors when Bloomberg proves their interest in investing in crypto is low, hopes as for BTC ETFs, ConsenSys, Japan’s Shinsei Bank, Nippon Wealth, and Tribay Capital become partners, Alprockz and Geneva Swiss Bank collaborate to create a stablecoin

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DIGEST

Group-IB, a Moscow-based cybersecurity firm, has developed a ranking system to grade cryptocurrency exchanges by the level of safety they offer clients. It ranks Kraken as the safest exchange. Then there go Bittrex and Coinbase Pro. Binance, Bitfinex, Bithumb, Bitmex, Localbitcoins, Myetherwallet and Poloniex are on the list of safe exchanges as well. OKEx, Huobi Pro, and Coincheck are among the least safe exchanges

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Token Swap: Tether Announces Token Burn Of Over 400 Million USDT

Tether has shared a piece of information about a forthcoming token burn which according to announcement would take place shortly. According to a tweet from their official Twitter handle, Tether plans to shortly move 400 million Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. Tether will shortly move 400m Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. — Tether (@Tether_to) September 16, 2019 Tether Minted 300 million USDT Few Days Ago Few days ago, Tether took to Twitter to inform its users that it was coordinating with a third party to perform a chain swap. This was planned in order to convert some tokens from their original Omni to an Erc 20 protocol. At the time of the initial announcement, 300 million Tether USDt was announced to have been minted for the swap. However, these conversions took place few days ago as Tether promised the token swap wouldn’t disrupt the total supply. In few hours Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process. — Tether (@Tether_to) September 12, 2019 Whale Alert, a twitter account dedicated to alerting the community of big cryptocurrency transactions, noted the coinage described above in a tweet published on Sept. 12. As per a second tweet submitted as an answer to the first one, Whale Alert offered an explanation of the type of transaction: “This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet.” And finally, Tether is burning the Omni Tether that was already converted to ERC20. Until now, no token burn has taken place on Omni blockchain. In July, it was reported that Tether accidentally minted and burned 5 million USDT tokens. However, Tether long-standing controversy about issues relating to transparency and market manipulation. The post Token Swap: Tether Announces Token Burn Of Over 400 Million USDT appeared first on Coingape.
CoinGape

Zero-Knowledge Proof Solution from QEDIT Implemented Into Kaleido Blockchain For Transaction Privacy

Kaleido, a startup blockchain solution from ConsenSys Venture Studio has gone on record to become the first blockchain platform to implement the zero-knowledge proof solution from QEDIT—the crypto private company. A Non-compulsory Feature On September 13th, 2019 QEDIT shared a paress released with Cointelegraph where it stated that the partnership it had developed with Kaleido […]
Bitcoin Exchange Guide

Cryptocurrency Exchange OKEx Korea Removes Privacy Altcoins

According to an official announcement made by the South Korean branch of OKEx, the popular exchange will delist five privacy coins as early as October 10, 2019. Complications for Privacy Coins Trading of Monero (XMR), Dash (DASH), ZCash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on OKEx Korea will be suspended on October 10, 2019,Read MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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