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Binance, the worldwide blockchain ecosystem that is responsible for the biggest cryptocurrency exchange in terms of trading volume, successfully implemented the world’s first cryptocurrency triparty agreement with a third-party banking partner on November 30, 2023.  The implementation of this solution makes it possible for institutional investors to store trade collateral in the custody of a third-party banking partner, away from the exchange, according to the latest information shared with Finbold. This is the first in a series of pilot projects initiated by Binance, which is currently the only cryptocurrency exchange offering such a solution. The company’s aim is to directly tackle the counterparty risk issue, alleviating one of the main concerns among many institutional investors . Cryptocurrency Binance court case update as of November 29 Cryptocurrency Cristiano Ronaldo faces lawsuit over promotion of Binance ...

In the culmination of his testimony, Wang, one of the co-founders of FTX, delved into his interactions with federal authorities and his interpretation of the enigmatic “FTX is fine” tweet. Day six of the trial of Sam Bankman-Fried marked the conclusion of the testimony provided by Gary Wang, the former chief technology officer at FTX, and the commencement of the testimony by Caroline Ellison, the former CEO of Alameda Research. Wang shared insights into his plea agreement, among other critical aspects. According to a report by Inner City Press on the platform formerly known as Twitter, Nicolas Roos, the Assistant United States Attorney, posed a pointed question to Wang during his initial meeting with the government, inquiring if he had admitted to any wrongdoing in collaboration with the defendant. Wang’s response was affirmative. Roos followed up with another inquiry, “What instructions were you given?” To which Wang promptly replied, “To speak the...