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5 y

Chainalysis and Binance join hands to fight money laundering

A decade has passed and cryptocurrencies have come a long way from its humble origins and pose a serious threat to the traditional monetary framework. While there are skeptics who question its viability, efficiency, and security aspects, there are others who think that the positive aspects of cryptocurrencies far outweigh its shortcomings and it’s only a matter of time before this innovation becomes a part of our daily existence. The nagging fear of the use of cryptocurrencies for money laundering and other illicit activities pose a clear and present danger and to overcome this we need a cohesive from all the stakeholders in this space. Taking a step in this direction, Chainalysis, the leader in providing compliance and investigation solutions has entered into a tie-up with Binance, the leading name in crypto exchanges. This was revealed by Chainalysis in a press release on Wednesday. According to the press release, Chainalysis will use its suite of compliance software to help Binance tackle the growing concern about money laundering and compliance issues in an effective way. Chainalysis’ compliance (Know Your Transaction) software is the most effective solution to monitor and keep a track of real-time transactions. The software takes into account a number of things like pattern recognition, proprietary algorithms, and millions of open source references to identify and detect any suspicion of fraudulent activity. Speaking about this partnership, Wei Zhou, CFO at Binance said, "By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally while adhering to regulatory mandates in the countries we serve." Having the backing of Wall Street giant Benchmark, Chainalysis received $16 million in venture capital funding in April to expand its coverage of cryptos. Serving more than 150 entities in the cryptocurrency arena, Chainalysis boasts of a pedigree that is unparalleled in the cryptocurrency arena. In another development on Wednesday, the leading crypto exchange completed its fifth quarterly burn. As a result of the token burn, the total supply now stands at 192.443 million BNB. “In accordance with our whitepaper, we have completed our 5th quarter token burn of 1,643,986 BNB (roughly $17MM USD equivalent),” the official statement read. See Also: Binance Uganda: Crypto exchange opens its first fiat-to-crypto exchange Binance delists four altcoins including Bytecoin [BCN] Image via Shutterstock Join our Telegram group
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Meme Coin Launches Advertising Blitz Get the latest crypto and stock market news. Stay up-to-date with the latest trends and developments.
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Минюст США обвинил создателей Federal Crypto Reserve в криптовалютном мошенничестве Министерство юстиции США обвинило двух человек, гражданина Австралии и жителя Калифорнии, в создании нескольких криптовалютных схем и краже у инвесторов $25 млн.
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Минюст США обвинил создателей Federal Crypto Reserve в криптовалютном мошенничестве Министерство юстиции США обвинило двух человек, гражданина Австралии и жителя Калифорнии, в создании нескольких криптовалютных схем и краже у инвесторов $25 млн.
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Минфин РФ предлагает экспортировать криптовалюту Министерству финансов России пришла идея — экспортировать добытую на территории страны криптовалюту так же, как экспортируют газ
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Major Japanese Exchange Adds Support for Shiba Inu (SHIB) Coincheck has announced the addition of Shiba Inu (SHIB) to its trading services
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Snek от Cardano и Bonk от Solana взлетели до новых высот — догонит ли их мемкоин от Ethereum Разбираемся, почему растут SNEK от Cardano, BONK от Solana и Meme Moguls от Ethereum. Кто окажется лидером в этой гонке
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U.S. CFTC Approves Bitcoin Futures Platform Bitnomial's Derivatives Clearing Application The commissioners discussed issues like conflict of interest before ultimately voting in favor of the margined bitcoin futures company.
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Coins

#
FAV
NAME
PRICE
Portfolio
1H
24H
7D
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1
Bitcoin
Bitcoin
BTC
$ 70 202.93
$ - - - - -
( - - - - - )
Set your amount
OK
+0.18%
-0.57%
+9.35%
2
Ethereum
Ethereum
ETH
$ 3 537.67
$ - - - - -
( - - - - - )
Set your amount
OK
+0.03%
-0.65%
+3.75%
3
Tether USDt
Tether USDt
USDT
$ 0.999970
$ - - - - -
( - - - - - )
Set your amount
OK
-0.02%
+0.05%
+0.02%
4
BNB
BNB
BNB
$ 617.19
$ - - - - -
( - - - - - )
Set your amount
OK
+0.03%
+6.18%
+10.44%
5
Solana
SOL
$ 185.57
$ - - - - -
( - - - - - )
Set your amount
OK
+0.26%
+1.20%
+7.69%
6
XRP
XRP
XRP
$ 0.628234
$ - - - - -
( - - - - - )
Set your amount
OK
-0.19%
+1.53%
+1.88%
7
USDC
USDC
USDC
$ 0.999835
$ - - - - -
( - - - - - )
Set your amount
OK
-0.01%
-0.03%
0.00%
8
Dogecoin
Dogecoin
DOGE
$ 0.216355
$ - - - - -
( - - - - - )
Set your amount
OK
+1.48%
+0.55%
+42.08%
9
Cardano
Cardano
ADA
$ 0.654832
$ - - - - -
( - - - - - )
Set your amount
OK
-0.36%
+1.32%
+6.05%
10
Avalanche
AVAX
$ 53.41
$ - - - - -
( - - - - - )
Set your amount
OK
-0.38%
-0.93%
-4.35%
11
Shiba Inu
SHIB
$ 0
$ - - - - -
( - - - - - )
Set your amount
OK
-0.41%
-3.44%
+14.73%
12
Toncoin
TON
$ 5
$ - - - - -
( - - - - - )
Set your amount
OK
+2.25%
+0.01%
+16.34%
13
Polkadot
DOT
$ 9.58
$ - - - - -
( - - - - - )
Set your amount
OK
+0.62%
+1.36%
+6.52%
14
Bitcoin Cash
Bitcoin Cash
BCH
$ 619.34
$ - - - - -
( - - - - - )
Set your amount
OK
-1.70%
+8.73%
+52.11%
16
TRON
TRON
TRX
$ 0.120139
$ - - - - -
( - - - - - )
Set your amount
OK
0.00%
0.00%
+0.86%
17
Polygon
Polygon
MATIC
$ 0.993312
$ - - - - -
( - - - - - )
Set your amount
OK
-0.15%
-1.25%
+1.05%
18
Internet Computer
ICP
$ 17.47
$ - - - - -
( - - - - - )
Set your amount
OK
-0.57%
-0.90%
+31.75%
19
Litecoin
Litecoin
LTC
$ 103.38
$ - - - - -
( - - - - - )
Set your amount
OK
+0.45%
+9.19%
+25.08%
20
Uniswap
UNI
$ 12.76
$ - - - - -
( - - - - - )
Set your amount
OK
-0.73%
+3.36%
+9.09%
21
NEAR Protocol
NEAR
$ 7.07
$ - - - - -
( - - - - - )
Set your amount
OK
+0.55%
-2.46%
+7.33%