Tag Archives: Binance

BinanceUS CEO calls companies not integrating crypto ignorant’

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Binance.US CEO calls companies not integrating crypto ‘ignorant’

The CEO called digital assets a "pandemic resilient" solution for businesses.


Image courtesy of CoinTelegraph

            SEPT 22, 2020

Catherine Coley, the CEO of crypto exchange Binance’s United States branch, says adopting crypto may be one of the only ways for businesses to be “pandemic resilient” going forward.

In a Sept. 21 interview with Joe Weisenthal and Tracy Alloway on Bloomberg’s Odd Lots podcast, Coley said crypto had the ability to offer “uses beyond speculation” wherein investors could engage in e-commerce transactions, drive new businesses, and other real-world applications like mortgages:

"If you’re building a company in the next five years and you do not consider digital assets as a component, you’re going into this in an ignorant way. It’s an adoption case that is pandemic resilient."

The CEO said going forward, companies should take their cues from cryptocurrency, which has made conversations about money more digestible for the average person but also more accessible to professionals in traditional finance.

“This is an industry that is reaching a significantly different audience than finance,” said Coley. “I’ve been able to stay off the streets because of crypto and there is so much benefit in that, that people underestimate.”

Coley has served as the CEO of Binance.US since 2019. In the last month, the exchange announced it had cleared regulatory hurdles to expand its operations to Florida, Alabama, and Georgia. New legislation may make it possible for the exchange to open its doors to all traders in the U.S. by 2021.

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Original article posted on the CoinTelegraph.com site, by Turner Wright.

Article re-posted on Markethive by Jeffrey Sloe

BNB Fumbles at 33 Binance Get Sued and More News from the Exchange

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BNB Fumbles at $33, Binance Get Sued and More News from the Exchange

John P. Njui   •   BINANCE (BNB) NEWS • COINMARKETCAP   •   SEPTEMBER 15, 2020

Quick summary:

  • Binance Coin (BNB) has corrected to the $28 level after a local peak of $33.38
  • The pullback happened immediately CZ tweeted about the new peak value
  • Bella Protocol (BEL) trading commences today
  • Binance has canceled the listing of BTT/USDT perpetual contract
  • The exchange has listed SWRV, LTCUP, LTCDOWN and more
  • Binance is being sued for allegedly playing a part in laundering Bitcoin from a 2018 hack

The team at Binance has been known for continually building with DeFi being their latest focus. In the past few weeks, Binance has molded itself into a Centralized-DeFi platform (CeDeFi). All the DeFi activities at Binance have benefited the value of Binance Coin with BNB taking off from around $18 when the Binance Launchpool was launched, to the recent peak of $33.38.

Binance Coin (BNB) Fumbles at $33 and Right After CZ Tweeted About It

After printing the local peak at $33.38, Binance Coin has since corrected hard dropping to as low as $27.98.

BNB was clearly overbought but what makes the pullback interesting, is the fact that it happened immediately after CZ tweeted about the new peak price. Furthermore, he implied that it was not a good idea to bet against Binance Coin. CZ’s tweet can be found below.

What Next for Binance Coin in the Crypto Markets?

Binance Coin has since found some short term support at the $27 – $28 price area and could result in a short term bounce to the $30 – $32 area. However, a loss of this support zone could send Binance Coin back to the $25 – $26 support zone.

More Binance News

Also today, the crypto exchange of Binance announced the listing of the following on the trading platform.

  • STORJ/USDT perpetual contract with leverage of up to 50x
  • Listing of Swerve (SWRV) with trading commencing today
  • Listing of LTCUP/USDT and LTCDOWN/USDT trading pairs with trading commencing tomorrow at 7am UTC
  • Isolated margin trading for STX, STPT and UMA
  • Listing of Bella Protocol (BEL) and trading commencing today at 8am UTC

Cancelation of BTT/USDT Perpetual Contract

Also today, the team at Binance canceled the listing of the BitTorrent (BTT) perpetual contract. The exchange explained that the cancelation was due to technical reasons and further apologized to traders for any inconvenience.

Binance Being Sued For Helping Launder $9M from 2018 Hack

To top it all off, the crypto exchange of Binance is being sued for allegedly playing a role in laundering over 6,000 Bitcoin (BTC) stolen from a Japanese Exchange in 2018. The plaintiff is a crypto exchange known as Fisco but was known as Zaif at the time of the hack.

The team at Fisco explains that the thieves took advantage of Binance's lax KYC policies back then to launder the stolen coins. Fisco is therefore demanding compensation for the loss.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

Binance Coin BNB Could Be On a Path to Set a New ATH Thanks to DeFi

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Binance Coin (BNB) Could Be On a Path to Set a New ATH Thanks to DeFi

John P. Njui   •   BINANCE (BNB) NEWS • COIN MARKET CAP • DEFI   •   SEPTEMBER 12, 2020

Quick take:

  • In the third quarter of 2020, Binance has dived dip into DeFi
  • BNB can now be staked to earn 60% APR and new tokens through the Binance Launchpool
  • Binance has also set up a $100M incubator fund specifically for DeFi projects
  • Binance Smart Chain is also live on the mainnet
  • All these events provide enough fundamentals for a Binance Coin (BNB) rally past its previous ATH if $39.57

A quick glance at the top 10 digital assets according to Coinmarketcap reveals that Binance Coin (BNB) stands out from the rest in terms of 24-hour gains. BNB is the only digital asset in the top 10 experiencing double-digit gains as can be seen in the screenshot below.


(Click image for larger view)

Binance Coin (BNB) Price Being Propelled by DeFi

A quick analysis of recent news surrounding the Binance crypto exchange provides the following reasons as to why Binance Coin (BNB) is thriving in the crypto markets.

  • Binance recently launched BNB and BUSD staking at 60% and 50% APR respectively
  • Binance launched its Launchpool allowing investors to earn new tokens, such as BEL, by staking their BNB
  • 17.941 Million BNB ($484 Million) has been staked to farm Bella (BEL) tokens
  • BEL farming will conclude on the 9th of October
  • Binance has continually listed popular DeFi tokens
  • CZ and the team at Binance have decided that DeFi is the way to go henceforth and are continually building
  • Binance Smart Chain is live on mainnet
  • Binance has set up a $100 Million incubator fund for DeFi projects

Binance Coin Could be On a Path to Break Previous ATH

Switching focus to the BNB/USDT chart, the above-mentioned fundamentals could provide the necessary momentum for Binance Coin (BNB) to push past its previous all-time high value of $39.57 set in June 2019.


(Click image for larger view)

Visiting the daily BNB/USDT chart courtesy of Tradingview, the following can be observed.

  • The daily trade volume is in the green
  • Price is above the 50-day, 100-day and 200-day moving averages confirming general bullishness by Binance Coin
  • MACD has crossed in a bullish manner
  • However, the MFI is high at 77 hinting of a pending correction or consolidation of Binance coin before another move up
  • Current resistance levels before the ATH value can be found at $27.81, $28.57, $29.02, $30.67, $32.72, $34.18, $35.44, $36.41 and $37.95
  • BNB’s path to a new all-time high will not be an overnight affair and will take time

Conclusion

Summing it up, the fundamentals surrounding Binance Coin are impressive and could provide the needed momentum for BNB to retest or break the previous all-time high value of $39.57. However, the rise of BNB to this level might not be overnight as the digital asset has plenty of resistance levels to overcome beforehand.

Additionally, BNB’s bullishness is also highly dependant on a stable crypto market led by Bitcoin which is very much correlated to the stock markets.

As with all analyses of Binance Coin, traders and investors are advised to use stop losses and low leverage when trading BNB on the various derivatives platforms.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

Binance Launches ChainLink LINK Quarterly Futures Before Ethereum’s

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Binance Launches ChainLink (LINK) Quarterly Futures, Before Ethereum’s

LINK quarterly futures have been launched on Binance before Ethereum's.

John P. Njui   •   CHAINLINK (LINK) NEWS • BINANCE (BNB) NEWS   •   JULY 21, 2020

Summary:

  • The popularity of ChainLink has resulted in Binance launching a quarterly LINK Futures contract.
  • LINK quarterly futures have been listed before the Ethereum’s.
  • This move shows that ChainLink (LINK) is a fan favorite for crypto traders.
  • LINK had earlier dropped below $7 and is now trading at $7.63.

The crypto exchange of Binance has announced that it will be launching ChainLink (LINK) a quarterly futures contract. Trading of the contract will commence tomorrow, July 22nd, at 7 am UTC. Traders can use a maximum of 75x leverage once the LINK quarterly futures contract goes live. The LINK quarterly contract will expire September 25th, 2020.

One fact that stands out is that the LINK based quarterly contract has been launched before an Ethereum one on the exchange. At the time of writing this, there are quarterly contracts for two digital assets: Bitcoin (BTC) and Cardano (ADA). A LINK based quarterly contract becomes the third.

ChainLink’s High Trade Volume Could be Why a LINK Quarterly Contract was Offered before Ethereum’s

The popularity of ChainLink (LINK) amongst crypto traders could be one reason that Binance chose to list its quarterly contract before that of Ethereum. Last week, LINK’s daily trade volume briefly eclipsed that of Ethereum particularly around the time ChainLink hit its new all-time high value of $8.92.

LINK Continues to Shake Off Malicious Zeus Capital Report

LINK’s daily trade volume is still high despite the emergence of last week’s malicious report by Zeus-Capital that claimed that the ChainLink project was pure vaporware. The report also predicted that ChainLink’s value in the crypto markets would eventually fall by 99% to $0.07.

However, crypto twitter has since debunked the report which has been pulled down from the Zeus-Capital website. At the time of writing this, the malicious report has been linked to another crypto project as seen in the following tweet.

Brief Technical Analysis of LINK/USDT


(Click image for larger view)

LINK has benefited positively from Bitcoin’s surge above $9,300. A brief look at the 6-hour LINK/USDT chart reveals that the digital asset experienced a bounce around the 50 MA. However, LINK/USDT still looks like it is in the midst of a pullback due to the impressive push earlier this month to its new all-time high of $8.92.

Therefore, placing a long on LINK at its current value of $7.63 might be a gamble given the fact that LINK is not as influenced by Bitcoin’s price action. This is the reason LINK was pumping in the markets despite Bitcoin being relatively flat. Therefore, caution is advised when trading LINK as Bitcoin pumps.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

Binance To Expand Crypto Trading Operations To UK

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Binance To Expand Crypto Trading Operations To UK

By RTTNews Staff Writer | Published: 6/17/2020 10:26 AM ET

Cryptocurrency exchange Binance is set to launch a cryptocurrency trading platform soon in the United Kingdom as Binance.UK to cater to its institutional and retail customers in the U.K. and European markets.

Binance.UK fiat-to-cryptocurrency platform will be regulated by the Financial Conduct Authority (FCA) and will enable customers in the U.K. to easily buy and trade cryptocurrencies with British Pounds (GBP) and Euros (EUR).

The platform will provide fast and easy deposits and withdrawals for the buying and selling of digital currencies through direct bank transfers via the UK Faster Payments Service (FPS) and Single Euro Payments Area (SEPA) network. Up to 65 digital assets are being considered to be available at launch.

The Binance.UK platform will feature both a 'Basic' trading interface, with simple buy, sell, and convert functionalities, and an 'Advanced' market view on the Binance.com order book with its complete trading tools and capabilities.

The platform will initially launch with desktop/mobile web access, with the app version for iOS or Android to be provided later in 2020.

This expansion is part of Binance's efforts to increase convenience and access to users around the world. It has already struck joint ventures with leading global partners in Singapore, Korea, Uganda, Jersey, and the United States, allowing trading with select local currencies.

Binance noted that its localized approach and service also include active participation and engagement with local communities and governments to ensure a high industry standard and user-first model.

Binance.UK will enable U.K. and European customers to participate in the ever-growing crypto and digital assets market with greater confidence through a regulated platform, with access to secure and convenient payment rails at a competitive price.

The U.K. is seen as a significant financial epicenter with London being the second-largest financial center in the world and the leading market for foreign exchange. The expansion to the U.K. is expected to spur larger interest in the region and throughout Europe.

In its previous expansion, Binance announced its partnership with U.S.-based BAM Trading Services Inc. in mid-June 2020 and launched the Binance.US trading platform in September 2020.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Binance Cloud to Allow Users to Launch a Crypto Exchange Within 5 Days

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Binance Cloud to Allow Users to Launch a Crypto Exchange Within 5 Days


Image courtesy of CoinTelegraph

            FEB 17, 2020

Binance's newly released Binance Cloud platform might be somewhat different from what the crypto industry expects the new feature to be.

After Binance founder and CEO Changpeng Zhao (CZ) first hinted at the introduction of Binance Cloud on Feb. 8, the new service has been officially released on Feb. 17, targeting users willing to set up crypto exchanges, according to a blog post by Binance.

All-in-one infrastructure for launching a crypto exchange

According to the announcement, Binance Cloud will serve as an all-in-one infrastructure platform for customers and partners to launch digital asset exchanges based on Binance's industry-leading technology, security, liquidity as well as custodial services. The solution also supports dashboard for managing funds, multilingual functionality, as well as a range of trading pairs and coin listings.

The Binance's new exchange-specific cloud solution will provide users with a method of setting up a crypto platform in their local markets. Binance Cloud's features include crypto spot market and futures trading as well as local bank API integrations and peer-to-peer exchange services from fiat to crypto, the announcement notes. In the future, Binance Cloud plans to add more features like staking, over-the-counter trading services as well as token issuance with initial exchange offering platform.

CZ says that Binance Cloud will allow users to launch an exchange within three to five days

Speaking about Binance Cloud in an interview with Cointelegraph, CZ outlined that the new service will particularly target people in regions that are not yet covered by Binance. CZ said that Binance Cloud will allow those people to run their own exchanges in local markets that are far from Binance “both fiscally and also culturally or just knowledge-wise” to date.

The Binance CEO also told Cointelegraph that Binance Cloud would allow any partner to launch an exchange within three to five days in case if “other preparations are in order.” According to the original announcement, the first major digital asset exchange fully powered by Binance Cloud will launch in early March 2020.

Binance Cloud comes in line with Binance's mission to unlock crypto for everyone

CZ also pointed out that Binance Cloud is the first initiative of its kind, claiming:

“Binance Cloud is a product suite previously missing from the market […] We are eager to share the quality experience of Binance through different brands, communities, and markets globally.”

Speaking to Cointelegraph, CZ was unsure of who had initially conceived the idea of Binance Cloud, beyond the fact that it was not him. The Binance CEO added that the origin of the idea is not as important as execution. CZ stressed that Binance Cloud aims to enable everyone to access crypto and contribute to global adoption. CZ said:

“We want to enable more of our partners to access crypto, so that other people can do this together with us in enabling people to access crypto. So the concept behind Binance Cloud is that we want to provide a platform where other people can help us enable access to crypto. So that's really the idea behind it.”

The news comes amid a recent report claiming that Binance has applied for a license to operate in Singapore. Originally based in Malta, Binance will now purportedly expand its regulatory compliance by acquiring a license from the Monetary Authority of Singapore.

On Feb. 16, Cointelegraph published an interview with CZ, in conjunction with the CEO winning the top position in the Cointelegraph's first-ever Top 100 list.

Original article posted on the CoinTelegraph.com site, by Helen Partz.

Article re-posted on Markethive by Jeffrey Sloe