DigiByte Founder Blaims Binance Team For Placing Unfair Demands To List DGB, CZ Responded

DigiByte Founder, Jared Tate has alleged that Binance Team has asked for an incredulous amount of funds and stakes in Digibyte for listing it on Binance. 
Is Listing DigiByte A Costly Affair?
DigiByte Founder recently took to Twitter and said that he did a video call with the Binance Team a few weeks back, for the purpose of listing Digibyte on Binance. Reportedly, the team laid out the conditions, which included, $300,000 and 3% of all DGB for ”insurance for their customers against blockchain hacks & defects” to list $DGB. To which Tate said that it was not possible with a truly decentralized blockchain like DigiByte. 
Source- Twitter
Furthermore, he stated that the firm lacked funds and had zero ability to fund such a requirement. To which the “BNB Team’ said that they would get back to him. Moreover, he claimed that he said he is tired of answering people that when will the coin be listed on Coinbase or Binance. 
Source- Twitter
While it is likely that his claims are backed by truth, there are no solid proofs to substantiate his claims, as he was on a video call. His tweet garnered several responses from the crypto community.
Trader and Analyst, Crypto Bitlord, questioned Tate that was he sure that he contacted the right team? It could have been well a group of scammers trying to gain cryptos. He further questioned how could his claims be verified?
Source- Twitter
Another twitter user Shariq explained that in order to reach a massive user base huge costs must be incurred to engage and keep the audience attached. 
Source- Twitter
 
A  user with Twitter handle “Crypto Moon” said that this was primarily the reason why DigiByte continues to suffer and lose its value. The reason being any big exchange will not list low volume coins.  
Source- Twitter
Tai Zen, another user further advised the Founder on finding an alternative solution and said that the demand was pretty normal. 
Source- Twitter
Binance CEO Responds on it that he don’t want to get him into it,

lol, interesting (in a fk’ed up way). I think he specifically does NOT want DGB listed on Binance.
not gonna waste any time on these types of guys. There are more interesting things to do in life. Moving on…
— CZ Binance (@cz_binance) September 21, 2019

 
Scammer Alert
Interestingly, the first tweet on Binance’s official twitter handle mentions users to be aware of scammers and not send coins directly to any address for any reason. 
Source- Twitter
Well, a large portion of the crypto community seemed to place their trust and Binance and refuting Tate’s claims. The truth behind the whole scenario is yet to be revealed. Is it just a measure to get publicity and create hype among audiences? Or is there an iota of truth behind his claims?
The post DigiByte Founder Blaims Binance Team For Placing Unfair Demands To List DGB, CZ Responded appeared first on Coingape.
Source: CoinGape

Can Coinbase Capitalize On Binance Becoming Less Attractive To US Crypto Investors?

San Francisco-based crypto exchange Coinbase has revealed that it is evaluating potentially launching its own initial exchange offering or security token offering, akin to the Binance Launchpad program.
Is this Coinbase following the emerging trends within the greater crypto market, or is this just the company hoping to capitalize on Binance losing its stronghold over US-based crypto investors and out-offer the competitor in its homeland?
Crypto Exchange Coinbase is Exploring IEO and STO Platforms
If 2017 was the year of the ICO boom, 2019 was the year of the IEO explosion. During the first half of the year, Binance debuted its Binance Launchpad platform designed to launch new and exciting crypto tokens with the backing and support of the exchange itself.
Related Reading | Binance Alternatives for US-Based Altcoin Investors and Crypto Traders
It sparked an entire trend of IEO tokens and platforms at other exchanges such as Bitfinex, and crypto investors flocked to the new tokens in droves. Most of the IEO tokens were among the hottest traded altcoins across the market after they were first released, however, as soon as Binance revealed that it would be blocking US-based investors from its flagship website, the IEO craze turned south along with the rest of the altcoin market. But it is still showing signs of interest from early-bird investors looking to strike it rich.
Also proving that the IEO trend is still showing strong demand, is the fact that Coinbase has revealed that they are now considering launching an IEO or even an STO platform of their own to launch new crypto tokens to the masses.

“We think there’s a really interesting opportunity there for Coinbase. Coinbase is carefully exploring not only the IEO space but also STOs, but I can’t make any formal announcements right now,” explained the company’s head of institutional sales in Asia, Kayvon Pirestani.

Going For the Knockout with Binance on the Ropes in the US
But is Coinbase – normally a trendsetter and not a follower – actually following an emerging trend, or are they trying to capitalize on the rocky relationship Binance currently has with US-based investors?
During 2017, Coinbase enjoyed a large portion of the crypto market share. But after Binance exploded onto the scene instantly becoming the market leader, Coinbase has had strong competition ever since. Competition that it now could have multiple advantages over, at least in the United States where the largest portion of crypto investors reside.
Coinbase is also said to be considering launching margin trading, yet another feature that Binance was first to the punch with. However, Coinbase’s best “one-up” it has over Binance currently is the crypto exchange’s larger altcoin offering.

Fewer coins than Coinbase No small-cap alts All pairs are against USD or USDT No margin trading
It's official! Binance US is trash pic.twitter.com/Db1VpB67wd
— Satoshi Kovacs (@SatoshiKovacs) September 19, 2019

While it may be difficult to imagine a day where Coinbase offers more altcoins than an exchange bearing the Binance name, but the US version of the crypto market poster child offers only seven assets, with only some of them being classified as altcoins alongside Bitcoin and the stablecoin Tether.
Coinbase, on the other hand, has amassed a list of over 20 altcoins and is ahead of the game when it comes to being on important US financial market regulators good side.
The post Can Coinbase Capitalize On Binance Becoming Less Attractive To US Crypto Investors? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Binance CEO Hints on How FED’s $128 Bn Injection in Money Markets Will Affect Crypto

Binance CEO believes that the current turmoil created by the Fed’s QE initiatives will force citizens into crypto. It is just a matter of time. 
Is Fed’s Move A Blessing in Disguise for Crypto?
While SEC continues to strengthen its stance against cryptocurrencies, the Federal Reserve has injected $53 Billion in the banking system. The transaction has been done in lieu of repurchase agreements and further an amount of $75 Billion will be added. 
A repurchase agreement is a form of short-term borrowing, mainly in government securities. The dealer first sells the security to investors and later buys them back, usually the following day, at a slightly higher price.
Federal Reserve’s move has faced backlash from several citizens. Interestingly, the CEO of Binance, Changpeng Zhao took to twitter and said that these steps undertaken by the government will invariably lead people to enter the crypto market and it would be longer a choice rather the only option.
Source-Twitter
CEO of Iconic, Pat Lowry agreed to CZ’s statement and said that everyone will eventually accept crypto when they become aware that it is the driving engine behind their favorite apps and that all global financial assets are tokenized. 
Source-Twitter
Are We Headed Towards An Economic Lapse?
Reports further mention that federal revenue and expenditures have aggravated volatility in the $2 Trillion repo market. As a matter of fact, the national budget jumped past $1 trillion in the first 11 months of the fiscal year. Moreover, this scenario had not been witnessed since 2012, when the  United States was recovering from the Great Recession.  
Also, the Fed is further expected to announce that it will lower down interest rates further by a quarter of a percentage point as it seeks to prevent an economy lapse, thus, leading investors to gradually steer away from traditional financial investments and try out new avenues. 
What will be Fed’s next move? Will it further catalyze global crypto adoption? Let us know, what you think?
The post Binance CEO Hints on How FED’s $128 Bn Injection in Money Markets Will Affect Crypto appeared first on Coingape.
Source: CoinGape

Binance.US reveals 3-tiered account verification process to comply with United States’ regulatory climate

Malta-based cryptocurrency exchange Binance made news a few months ago after it announced that it would restrict its services for U.S. residents. Despite gaining about 15% of its monthly traffic from the United States, Binance geo-blocked U.S. customers due to the regulatory climate. However, Binance wasn’t the only exchange to back out from the U.S. […]
The post Binance.US reveals 3-tiered account verification process to comply with United States’ regulatory climate appeared first on AMBCrypto.
Source: AMB Crypto

Binance Teases FATF, Allows Lending via Privacy Coins

Binance, one of the world’s leading cryptocurrency exchanges by trading volume, is adding three anonymity-focused cryptocurrencies to its loaning platform.
The Malta-based company said in a blog post that Binance Lending would allow users to lend in Monero, Zcash, and Dash. The annualized interest rate for the “fifth phase of Binance Lending products” with a 14-day maturity term, is 3.5 percent. Binance put out a total subscription cap of 300 XMR for Monero, 600 ZEC for Zcash, and 300 DASH for Dash. If borrowers subscribe all the available tokens, they will return lenders interest per lot of 0.001342 XMR, 0.001342 ZEC, and 0.001342 DASH.

Binance Lending – Special Edition $DASH $XMR $ZEChttps://t.co/HKWycfO2e0 pic.twitter.com/6Rs1BM2dd5
— Binance (@binance) September 17, 2019

Ditching FATF Standards
The announcement came a day after OKEx, another cryptocurrency exchange, declared that it is going to delist Monero, Zcash, and Dash from its South Korea-based trading platform. The Malta-headquartered firm decided to move against the privacy coins after the Financial Action Task Force (FATF) directed cryptocurrency exchanges to report suspicious transactions – especially those that exceed $1,000.
The global financial watchdog brought crypto firms under a so-called travel rule. It made exchanges and wallet providers equivalent to banking institutions. That complies those modern firms to keep track of their users’ financial activities, share them with other FATF-complied firms, and report them to the agency as soon as they spot irregularities.

A guideline issued by the Financial Action Task Force (FATF) is prompting OKEx to delist popular privacy-centering cryptocurrencies.https://t.co/p84Xb0IT7T
— NEWSBTC (@newsbtc) September 16, 2019

Recognizing the privacy coins anonymized people involved in a financial transaction, OKEx believed removing them was the only option left to ensure FATF-compliance. Nevertheless, its rival Binance decided to the opposite by adding them to its new lending platform. The Binance chief executive & co-founder Changpeng “CZ” Zhao tweeted a cryptic message in support of financial privacy.
“Do you think privacy is a fundamental right?” the message read.
June 2020
Meanwhile, FATF has not issued any statements regarding the use of anonymity-focused cryptocurrencies as of late. In its June 2019 notice, the watchdog discussed how countries and obliged entities must comply with its recommendations to prevent the misuse of cryptocurrencies in money laundering and terrorist financing.
Excerpts from their public notice:
“The obligations require countries to assess and mitigate their risks associated with virtual asset activities and service providers; license or register service providers and subject them to supervision or monitoring by competent national authorities—(notably, countries will not be permitted to rely on a self-regulatory body for supervision or monitoring)—and implement sanctions and other enforcement measures when service providers fail to comply with their AML/CFT obligations; and underscore the importance of international cooperation. Some countries may decide to prohibit virtual asset activities based on their own assessment of the risks and regulatory context or to support other policy goals.”
Based on national regulators’ feedback, FATF will prepare a review report and release it in June 2020. The agency has warned that it would blacklist countries with a higher number of money laundering and terrorist financing crimes, including those powered by cryptocurrencies.
The post Binance Teases FATF, Allows Lending via Privacy Coins appeared first on NewsBTC.
Source: New feedNewsBTC.com

Binance Adds 3 Privacy Coins to Its Lending Program

Binance is all set to launch its fifth phase of lending products on 20th September 2019 at 6:00 AM (UTC), where 14-day fixed-term lending products will be made available. The exchange has included privacy coins Monero(XMR), ZCash(ZEC) and Dash to list of its lending products. The service is available to users on a first-come-first-serve basis.
Monero, ZCash and Dash Added
Per an official announcement on Binance’s twitter handle, Binance is all set to launch its fifth phase of Binance Lending Products on September 20th. Binance has added Monero(XMR), ZCash(ZEC) and Dash(DASH) to the fifth phase of the lending program with annual returns of 3.5%. 
 
Source-Twitter
The individual caps of coins have been set at 300 XMR, 60,000 ZEC, and 30,0000 DASH. The interest will be calculated from 20th September to the 4th of October. 
Source- Binance Lending Product Details
A look At Previous Lending Phases
Binance launched its fourth phase of lending on the 18th of September. The third phase of the launch saw Ripple(XRP), Litecoin(LTC) and USDC being added to the lending platform providing 7% annual returns. 
Binance launched the second phase of its lending program on the 4th of September. In the second phase, 14- day and 28-day fixed-term lending products were made available.
However, in the third phase interests will be accrued over a fixed period of 14-days only. The first phase of Binance lending began on the 28th of August with returns as high as 15% on BNB coin. Binance believes that the various phases of lending will increase the availability of funds to margin traders.
Binance Launches Margin Trading for ATOM Token
A few hours back, Binance also launched margin trading for ATOM token. The newly added ATOM coin can presently be paired with Bitcoin(BTC) and Tether(USDT). 
Three weeks ago, Binance added margin trading for NEO and Monero(XMR). At present, the trading pairs available on the platform include NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT.
With Binance continuously making efforts to launch futures products and undertaking margin trading initiatives, it is likely that Binance will set new benchmarks for the same and gain competitive advantages over rival exchanges. Let us know what do you think in comments!
The post Binance Adds 3 Privacy Coins to Its Lending Program appeared first on Coingape.
Source: CoinGape

Binance Invests Into Crypto-Data Website Mars Finance Pushing Its Valuation Past $200M

Coinspeaker
Binance Invests Into Crypto-Data Website Mars Finance Pushing Its Valuation Past $200M
For Binance, Mars Finance is the first strategic investment in China since 2017, when Beijing banned digital coin trading and the exchange withdrew from this market.
Binance Invests Into Crypto-Data Website Mars Finance Pushing Its Valuation Past $200M

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto Update: Binance Adds Another Coin for Margin Trading

Binance platform has recently added margin trading for Cosmos(ATOM). 
What is Binance Doing Differently from BitMEX?
Binance’s recent move of adding ATOM gives it a competitive edge over BitMEX, as the latter doesn’t provide many options for margin trading when it comes to altcoins. The newly added ATOM coin can presently be paired with Bitcoin(BTC) and Tether(USDT). 
Three weeks back, Binance added margin trading for NEO and Monero(XMR). At present, the trading pairs available on the platform include NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT.
Also, Binance added margin trading for BCHABC and Stellar(XLM) in August. Cardano(ADA) and Ontology(ONT) were also included in Binance’s list of margin trading coins in July. 
 
Source- Binance Platform
Recent Developments on Binance Platform 
On the 28th of August, Binance announced its lending platform. Binance believes that it will increase the availability of funds to margin traders. Further, Binance.US recently announced the beginning of phase 1 of its launch in the US. 
The customer registration and verification will begin on 18th September 2019. It will commence by accepting crypto deposits for BTC, ETH, XRP, BCH, LTC, and USDT. Binance also reaffirmed that soon they will be adding support for other cryptocurrencies.
BitMEX- Binance Debacle
Yesterday, Changpeng Zhao (CZ), Binance CEO, revealed that the Binance futures platform had been attacked, but the attack had failed because of the platform’s feature of liquidating futures at index price, an innovation, which he claimed, was done by Binance. In response to this, Arthur Hayes took to twitter and offered CZ, coaching in “advanced methods” of copy-pasting for 51% of his equity. His response came as a sarcastic dig at CZ’s claim of innovation. CZ responded by saying that he will take any classes that Hayes has to offer in exchange for 49% of his equity.
With that being said, it all makes sense as to why Binance is eager to add so many altcoins on its platform. 
The post Crypto Update: Binance Adds Another Coin for Margin Trading appeared first on Coingape.
Source: CoinGape

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.
Source: CoinGape

Binance: “Well-known” Client Attacks the Binance’s Futures Platform by “Accident”

On Monday, 16th September, Changpeng Zhao, the CEO of Binance, took to his Twitter account to reveal that a well-known account that trades with Binance had tried to hack its futures platform, but had failed. The crypto community did not react very well to the way Zhao handled the situation. 
Binance Users Unharmed in the Attack
On the morning of 16th September, Changpeng Zhao, also known as CZ, posted on Twitter that a market maker had tried to attack the Binance Futures platform. In another tweet, CZ revealed that the attacker was a well-known account that traded regularly with Binance and had recently launched their own futures exchange. This was the second time that the attacker had tried to compromise Binance’s operations.
Source: Twitter
 
Source: Twitter
The good news is that the attack has failed and no traders were affected since the platform uses the index price and not the futures price for liquidation. The attacker, however, lost some money. 
CZ also claimed that using the index price instead of the futures price for liquidation was Binance’s innovation. 
In a third tweet after a few hours of the first two tweets, CZ revealed that he had had a chat with the client, that is, the attacker. According to CZ, the attack was an accident caused by a “bad parameter”on the client’s side. The attack was unintentional and the issue has been resolved between CZ and the attacker. 
Source: Twitter
Community Criticizes CZ for Unprofessional Behavior
The crypto community was far from pleased with the way Binance had handled the issue. Many users criticized CZ for behaving unprofessionally – calling out a client publicly before verifying the facts. 
Source: Twitter
Source: Twitter
Several crypto users were also quite skeptical of CZ’s version of the story. The questioned the accident’s “unintentional” nature in their comments and accused CZ of being a scammer.
Source: Twitter
This confusion around the attack and the company CEO’s response to it has not bode well for BNB, the native cryptocurrency of Binance. BNB is the only coin among the top ten coins which is in the red at present. At press time, it is trading at $20.79, 1% down from its price on the previous day. 
Source: CoinMarketCap
 
 
The post Binance: “Well-known” Client Attacks the Binance’s Futures Platform by “Accident” appeared first on Coingape.
Source: CoinGape

Binance Bitcoin Futures Debuts with $170M Trading

Binance has launched a new futures platform, where speculators can bet on bitcoin price going down or up, after announcing it earlier this year. And service is already witnessing trading volumes worth hundreds of millions of dollars.

Looks like a strong start for Binance futures – $170mln trading in last 24h with max leverage 20x pic.twitter.com/qlkt8XE4vS
— skew (@skew_markets) September 13, 2019

Data analytics firm Skew tweeted a 24-hour trade report of bitcoin futures, showing Binance processing about $170 million worth of trades on the day of its debut. The figures almost matched the volumes recorded following Binance Futures beta launch. The Malta exchange noticed about $150 million worth of futures transactions across the two test phases, which prompted it to go full-fledged on Friday, with a special gift attached.
“In order to show our appreciation for your continued support towards Binance Futures, all users will receive a 50% discount on trading fees when trading on Binance Futures for the first 3 months after the go-live date,” said Binance in its blog post published Thursday.
The exchange further stated that users that participated in the Battle for Binance Futures competition and voted for Futures A would enjoy a further discount. It would equate to a total 75 percent trading fee discount on Binance Futures for a month from 2019/09/16 00:00 AM to 2019/10/15 23:59 PM.
Fees on the Binance Futures will be paid in BNB, a native utility token on Binance exchange. The team announced that it would burn 20 percent of the income it makes from its Futures platform as a part of an existing practice. The quarterly move would take a portion of BNB tokens out of supply. That means, assuming Binance Futures would make profits, Binance will now burn more of its native asset.
Binance Coin (BNB) surges more than 2 percent against bitcoin | Image credits: TradingView.com
The Season of Bitcoin Futures
Binance’s multi-million dollar debut outperformed two existing bitcoin futures services: CryptoFacilities and BitFinex. Nevertheless, it got beaten by other, broadly-accessed exchanges, including Deribit, CoinFlex, BitFlyer, and especially BitMEX, a bitcoin derivative giant that processed about $2.52 billion in futures trading volume.
Last 24 hours trade volume across Bitcoin Futures platforms | Image credits: Skew
Nevertheless, the existing market players are gearing up for stiff competition by Bakkt. The digital assets platform, backed by the Intercontinental Exchange, is launching two regulated physically-settled bitcoin futures contracts on September 23. The move, as many expect, would make it easier for institutional investors to speculate on bitcoin prices.
But unlike exchanges in the cryptocurrency space, Bakkt will not offer margin trading, a feature which allows traders to borrow money when making trades. BitMEX, for now, provides the highest margins on its derivatives contracts – up to 100x. At the same time, Binance offers up 20x margins, making it a least attractive alternative to traders with a higher appetite for risks.

Looking at the UK's latest white paper, they are very likely to make margin oveer 3x illegal.
Europe may follow.
So it's going to be interesting to see BitMEX volume play out and other exchange cull those features for major markets.
Impact on price?
— CryptoArbitrage (@CrytoArbitrage) September 13, 2019

The post Binance Bitcoin Futures Debuts with $170M Trading appeared first on NewsBTC.
Source: New feedNewsBTC.com

Tether facilitates $417k worth of transactions on ETH network as USDT continues to clog Ethereum

A Redditor recently complained about pending transactions on the blockchain by stating that the pending period was past 10 hours and at press time, all the fingers were pointed toward Tether for network congestion. As reported earlier, Ethereum’s blockchain was suffering from a case of network saturation. The blocks were adding up and Vitalik Buterin […]
The post Tether facilitates $417k worth of transactions on ETH network as USDT continues to clog Ethereum appeared first on AMBCrypto.
Source: AMB Crypto

Binance X’s head Teck Chia reveals that Venus is still in its experimental stage

Irrespective of entering the crypto space only in 2017,  Malta-based crypto exchange Binance has witnessed an array of developments. From the launch of its in-house token BNB to the recent announcement of Venus, a blockchain for fiat-backed stablecoins, Changpeng Zhao has accelerated the exchange’s popularity. Recently, in an aim to bolster the mass adoption of […]
The post Binance X’s head Teck Chia reveals that Venus is still in its experimental stage appeared first on AMBCrypto.
Source: AMB Crypto

Binance Will List Its Binance USD (BUSD) Stablecoin Next Week

Coinspeaker
Binance Will List Its Binance USD (BUSD) Stablecoin Next Week
Binance announced the listing of its USD-backed stablecoin BUSD. According to the announcement by Binance CFO Wei Zhou and Richmond Teo, Co-Founder and CEO Asia of Paxos Trust Company, BUSD will become available to public next week.
Binance Will List Its Binance USD (BUSD) Stablecoin Next Week

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Source: CoinSpeaker

BNB Hits A 90-Day Low Despite the Massive Developments at Binance

BNB- the native cryptocurrency of the popular cryptocurrency exchange Binance has just recorded a 90-day low in its value against US dollars despite a series of recent developments at Binance.
BNB 90-day Performance
It seems that the price of BNB has shown little or no correlation to the developments underway at Binance. Within a 90-day period, from the 14th of June when BNB was trading at $35.25, till now, BNB has lost about 37% in the value in USD, taking a hit alongside with alts including ETH that have a similar “Non-correlative Price-Development Syndrome” (NPDS).
Source: Coinmarketcap
Within the first 30 days starting from June 14th, BNB was seen perambulating between $35 and $32. The coin maintained its place near its all-time high, although traded volume had fallen from around $700 million to $229 million representing a 67.2% decline in monthly traded volume.
In the next 30 days, BNB was seen to have fallen further towards $28 per coin although daily traded volume increased significantly in the first few days. The alternate gains and losses recorded by BNB between July 15th to August 15th kept the coin kept hovering around $28 while the daily trading volume also did not move much from the $248 million marks.
Entering into the last 30 days until today, a general regression was seen in the price of BNB which continued till it touched $20.77 in the early hours of today with a trading volume of around 147 million.
Binance’s Recent Developments
Going by recent events, Binance could be regarded as among the fastest growing crypto companies in the world. However, it is surprising to see that its many developments are proving to be non-correlative with the price of BNB.
Binance has made a series of developments recently. Some of these include the growth of the Binance launchpad which conducts IEOs for crypto startups with strong business propositions. This arrangement ensures that BNB is frequently used by Binance users.
Also, the exchange recently set up a new arm, Binance US, which recently revealed its plans of listing 30 crypto tokens including Bitcoin, Ethereum, and BNB.
Binance also launched its lending program recently which went live on Thursday, 28th August 6:00 AM (UTC). With this platform, Binance users will be able to increase their earnings by gaining interest as income for lending out their coin holdings over a specific period of time.
Changpeng Zhao, Binance’s CEO posted some recent developments on Twitter –

#useBNB
This is what 6 months of #BUIDL look like. https://t.co/ZNFJ7OQxeD pic.twitter.com/IRoz3z3FID
— CZ Binance (@cz_binance) September 12, 2019

Community Response
According to a popular crypto trader known as BenjaminBlunts on twitter,

saw a few big accounts shilling bnb on that fakeout up at $23.5 today
R.I.P if you fomoed that 🤷‍♀️ pic.twitter.com/roQU3jvzgL
— 🍄🌲BenjaminBlunts🌲🍄 (@SmartContracter) September 6, 2019

Also, Celsius CEO, Alex Manshisky said Binance was playing a stunt with some of its recent developments, particularly its lending platform. He added that the giant exchange could do better than what they are presently offering.
The post BNB Hits A 90-Day Low Despite the Massive Developments at Binance appeared first on Coingape.
Source: CoinGape