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BingX has announced a compensation plan for affected users.
Monetary losses from the BingX hack were initially reported as totaling $26 million, but the figure has since swelled to $52 million.
BingX’s hot wallet was hacked resulting in the theft of $43 million in cryptocurrencies Funds stolen included ETH, BNB, USDT, and over 300 other coins and tokens On-chain data shows the attacker quickly swapped most of the assets for Ethereum and BNB BingX has been hacked, with the security breach resulting in the draining of […]
The post Crypto exchange BingX hacked for $43 million appeared first on CoinJournal.
Cryptocurrencyexchange BingX has announced an expansion of its partnership with ChelseaFootball Club. Starting from the 2024/25 Premier League season, BingX will transition from sleeve sponsor to official training wear partner for the men's team.
BingX Upgrades ChelseaPartnership, Becomes Official Training Wear Sponsor
Theexpanded partnership builds on BingX's initial collaboration with Chelseaearlier this year when it became theclub's official sleeve partner. The current upgrade will increase BingX'svisibility in sports arenas, aligning the crypto brand with a recognizable namein the world of football.
"Weare excited to take our collaboration with Chelsea to the next level as theOfficial Training Wear Partner of the Men's team, Vivien Lin, Chief ProductOfficer of BingX, commented on the partnership's evolution. This partnershipis a testament to our shared commitment to the unremitting pursuit of excellenceand innovation."
Something's droppin' in hot...We're thrilled to be the official training wear partner of @ChelseaFC for the upcoming 24/25 season!5000 $USDT airdrops up for grabs!All you have to do is Follow, Like, RT & tag 3 friends!#BingXCFC #Empowerthefuture #BingX #CFC pic.twitter.com/sW0tAwjf6n
BingX (@BingXOfficial) July 1, 2024To mark theoccasion, BingX orchestrated an "airdrop" event at Chelsea's StamfordBridge stadium, using drones to deliver the new training kits, referencingcryptocurrency culture where airdrops refer to the distribution of free tokens.The company's logo will now feature on the front of all training wear worn byplayers and coaching staff during practice sessions.
Additionally,BingX plans to launch a trading competition inspired by the drone event,featuring daily check-in activities and crypto "airdrops" forparticipants. Fans and traders will also have the chance to win tickets,merchandise, and VIP experiences.
ForChelsea, this is not their first collaboration with a cryptocurrency company.Two years ago, the popular English Premier League club signed a £20 millionsponsorship deal with WhaleFin, which replaced Hyundai as the sleeve sponsor atthe time.
Sixth Anniversary
Thecryptocurrency exchange celebrated its sixth anniversary in May. Founded in2018, BingX has grown rapidly to serve over 10 million users worldwide,offering a range of crypto products and services.
As part ofthe anniversary celebrations, the platform announced a development strategytitled "ExpansionX," through which it aims to introduce its servicesto new countries and expand its range of offered products. New additions willinclude USDC-margined futures, lending services, and wealth management.
We're turning 6! What a journey it has been. Through bull and bear markets, thank you #BingX fam for sticking by us through it all. Here's to many more years of innovative and user-first products ahead. pic.twitter.com/lGAmFCMJPC
BingX (@BingXOfficial) May 20, 2024As forChelsea, since last year, the club has had an active multi-season agreementwith online trading and investment services provider TMGM, the club'sOfficial Regional Online Forex and Trading Partner in Asia Pacific.
Footballhas consistently been the most popular discipline among FX/CFD brokers lookingto advertise through sports. Car racing takes second place, and interestingly,golf ranks third.
This article was written by Damian Chmiel at www.financemagnates.com.
Despite mounting scam allegations and social media bans, Arora continues to promote celebrity memecoins and partnerships.
Key Takeaways: In a bold move towards hybrid financial services, BingX recently launched ChainSpot, a CeDeFi (Centralized-Decentralized Finance) platform functionality developed to make DeFi more accessible. The launch is part of the exchange’s larger strategic shift in commemoration of its 7th year. Now, ChainSpot users are able to directly engage with decentralized tokens in their […]
BingX, a leading global cryptocurrency exchange, is proud to unveil ChainSpot, a pioneering CeDeFi (Centralized-Decentralized Finance) feature that empowers users to access decentralized tokens directly from their BingX accounts without the need for external wallets or complex on-chain processes. As part of its 7th anniversary celebration, BingX becomes one
On its sixth anniversary and surpassing the milestone of 10 millioncustomers, the cryptocurrency exchange BingX presented its strategicdevelopment strategy titled "ExpansionX," under which it plans toimplement a range of new products and expand its operations to additionalcountries.
BingX Introduces NewProducts for Spot and Derivatives Trading
As part ofExpansionX, the exchange intends to introduce USDC-margined futures trading andexpand the number of assets available for leveraged investing. In the spot market, the offering will be complemented by Launchpad and Launchpool,which allow participation in the sale of new cryptocurrency projects andtokens.
"Togetherwith our BingX community and partners, we will continue to push the boundariesof what's possible in the crypto industry, setting new milestones and drivingpositive change," Vivien Lin, the Chief Product Officer of BingX,commented. "Thanks for being part of our journey, and we are ready toachieve new heights together in 2024 and beyond."
We're turning 6! What a journey it has been. Through bull and bear markets, thank you #BingX fam for sticking by us through it all. Here's to many more years of innovative and user-first products ahead. pic.twitter.com/lGAmFCMJPC
BingX (@BingXOfficial) May 20, 2024Theoffering will be complemented by lending services within wealth management, which will allow users to pledge cryptocurrencies in exchange for collateralized loans.
"Theplatform will also expand its structured product offerings to include dualcurrency notes, accumulators, decumulators, and snowball products, providingdiverse investment options," the company wrote in the official statement.
New Countries and NewPartnerships
In additionto product development, BingX also focuses on geographical expansion. Theexchange has begun entering new markets, including Turkey, Vietnam, andArgentina, expanding its reach across several continents simultaneously.
"BingXprioritizes localization by identifying and developing products and campaignsspecifically tailored for local markets, supported by a dedicated team withlocal expertise," the company commented.
An example is the partnership established at the beginning of this year with theChelsea Football Club, of which BingX became a sleeve sponsor. In addition, theexchange's logo will be featured on the front of the club's training kit.
Hugest of massive thank yous to @BingXOfficial for my birthday present and making this all possible So excited for my very first football match #cfcmatchday Go Chelsea! pic.twitter.com/CbGpCZBADd
Lisa N Edwards (@LisaNEdwards) May 19, 2024As part ofits development strategy, the exchange also wants to become more involved incorporate social responsibility (CSR) projects. In this regard, it is preparingto produce a documentary with Netflix and Dolphin Conservation to raiseawareness about the need for animal protection.
Development plans emerge when the cryptocurrency exchange industry is experiencing multi-year highs, following Bitcoin's new record in March. Although April saw a correction in spot volumes of the largest exchanges, historically, they remain at high levels.
This article was written by Damian Chmiel at www.financemagnates.com.Crypto exchange token listing and token generation events often sparked a new interest in crypto investors. Binance is the top crypto exchange platform in terms of the daily trading volume. Binance token listing announcements triggered price rallies in numerous cryptocurrencies. However, whether the crypto token sustains its price rally or
BingX is hiring amid a market downturn. The firm wants to continue expanding its global workforce strategically to further position its social trading business. (Read More)
The “Feed” function, provides a platform for global traders to share their trading ideas and discuss the latest market trends in real-time.
BingX launches its Christmas Gala Night Last Stand 2021, an event comprising of multiple events and free giveaways from a pool prize over 550,000 USDT.
A crypto sign-up bonus is a reward designed by the cryptocurrency exchanges intended for newly registered users, where they can earn free Bitcoin, trading vouchers, and trading fee rebates. More
The post Best Crypto Sign-Up Bonus in 2025: Get Free Bitcoin Promo Codes appeared first on CryptoNinjas.
PRESS RELEASE. BingX, the Singapore-based crypto exchange, is pleased to announce the launch of a new category to optimise its trading system for the Shanghai Ethereum upgrade. This move is aimed at helping traders looking to make a profit during the Ethereum upgrade that is expected to arrive on April 13th. The Shanghai Ethereum upgrade [...]
The post BingX Introduces a New Trading Category Within the Market Segment in Preparation for Shanghai Ethereum Upgrade 2023 appeared first on Crypto Breaking News.
Cryptocurrency hacks in September totaled over $120 million, with centralized exchanges BingX and Indodax accounting for more than half.
The crypto market is back up again after a recent decline like clockwork, and prices are starting to push up once more. Interestingly, this renewed momentum has seen Dogecoin open interest flipping from a negative threshold into a positive one. As the meme coins price gains traction, traders are once again pouring into derivatives markets, pushing the total open interest above $4 billion. Dogecoin Open Interest Surges With Market Revival According to data from Coinglass, Dogecoins total open interest has climbed back above the $4 billion mark, indicating a resurgence in trading activity. This comes after the Dogecoin price rebounded on the $0.31 multi-year support again and started its move upwards again. Related Reading: Dogecoin Open Interest Explodes Ahead Of Donald Trump Inauguration, Traders Bet On $1 Interestingly, data from Coinglass show that the Dogecoin open interest has increased by 3.11% and 2.09% in the past 24 hours and 4 hours, respectively. This shift suggests that traders are once again looking at Dogecoin as a promising asset for leveraged plays, betting on further price movements. The most notable DOGE open interest is on the Gate.io exchange, which has seen an increase of 5.14% in the past 24 hours. This brings its total open interest to $1.64 billion, accounting for 41% of the total rate. Bitget and BingX have also witnessed notable uptrends, with the Dogecoin open interest growing by 6.41% and 6.67%, respectively, in the past 24 hours. Binance, on the other hand, is yet to flip into positive open interest change. The world’s largest crypto exchange is still on a -0.13% open interest rate in the past 24 hours but is also on the verge of a positive rate with a +1.41% increase in the last four hours. Increased Leverage Could Lead To More Price Volatility A rise in open interest means that more traders are opening leveraged positions, which could amplify price swings in either direction. Interestingly, Dogecoin often experiences strong price movements during periods of increase in open interest. This latest increase alone means that there is an increase in market participation in Dogecoin. Related Reading: Dogecoin Weekly RSI Approaches The MA Line, Can Price Resume Uptrend To Break $0.74 ATH? If bullish sentiment continues, this market participation may drive the Dogecoin price further upward within the $0.30 to $0.4 range in the short term. However, it also raises the possibility of more liquidations if Dogecoin were to retest support at $0.31 again. At the time of writing, Dogecoin is trading at $0.3316, marking a 7% gain since bouncing off its multi-week support at $0.31. The next step for the meme coin is breaking above a recently developed daily candlestick resistance at $0.3316, which could then pave the way for further upside momentum if sustained buying pressure continues. Featured image from iStock, chart from Tradingview.com
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