Tag: Binance

Binance Futures Hosts Trading Competition With Prize Pool Worth $1M

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Cryptocurrency exchange Binance announced on March 25 that it will be hosting a trading tournament where participants could compete in teams and win a prize pool of up to $1 million in BNB tokens. According to the announcement, the tournament will take place between April 10 and April 25, and will take place in two ways: daily ROI and overall USDT team profit tournaments. Binance explains that all teams that trade in perpetual contracts on Binance Futures during the competition period will be ranked based on the total USDT profit of the…

Binance to Launch Crypto Exchange Supporting KRW-Backed Stablecoin

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Crypto exchange Binance is preparing to enter the Korean market for the first time. According to a company blog post on March 31, the Malta-based exchange will soon open Binance KR for trading. The crypto-to-crypto exchange is so named for South Korean traders.  Binance KR will be launched on Binance Cloud and offer the “market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.” The exchange will also support Binance KRW (BKRW), a stablecoin backed by the South Korean Won (KRW). Users…

Binance Academy Launches Blockchain Accelerator in China

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Binance Academy, the educational arm of leading crypto exchange Binance, announced the establishment of a blockchain research institute in Shanghai on March 30. The Lingang Blockchain Technology and Industry Research Institute is intended to operate as a think-tank and talent hub for distributed ledger technology (DLT) innovation in China. Binance to integrate blockchain with other innovative technologies To accelerate the application of DLT in China, Binance’s blockchain institute plans to integrate blockchain with other emerging technologies with an established foothold in the country — including artificial intelligence, big data, and…

Binance Removes FTX Tokens Citing Confusion

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Major crypto exchange, Binance, has decided to remove leveraged FTX tokens from its exchange, explaining that customers don’t understand the product. “Due to lack of understanding of how leveraged tokens work by many of our users, Binance has decided to delist all existing FTX leveraged tokens and corresponding trading pairs,” the exchange announced on March 28.  Binance will shut off deposits and withdrawals for the assets on March 31 at 8 a.m. UTC, with a stoppage in trading at 10 a.m. on the same day.   Binance only recently listed the…

Binance Academy Establishes Physical Presence in Shanghai

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Binance Academy has entered into an agreement with Shanghai’s local government to set up an office in the country. The initiative will reportedly be devoted to research blockchain technology in accordance with an Oct. 24 statement from Xi Jinping promoting its use. As announced on March 27 by local news outlet TheBlockBeats and Binance’s CEO Changpeng Zhao, Binance Academy will establish the Lingang Blockchain Technology and Industry Research Institute in Shanghai’s Lingang special economic zone. The initiative is the result of cooperation with local organizations in the Lingang area, and…

Binance Releases Its Own Debit Card, Initial Testing Will Be in Malaysia

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Binance enters the crypto debit card sector with news of an official Binance Card on March 26. Issued by Visa, the card will initially be available in South East Asia, though other regions will be unlocked soon, the company states. Like most other crypto cards, the Binance Card allows its users to spend their cryptocurrencies by converting them into fiat and piggy-backing off established debit card networks. A fairly unique aspect of the Binance Card is that its internal balance will be in cryptocurrencies, initially Binance Coin (BNB) and Bitcoin…

Binance Reveals the Secret Behind Its Cryptocurrency Futures Success

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Aaron Gong, vice president of futures at major cryptocurrency exchange Binance, explained to Cointelegraph how the firm managed to become one of the top crypto futures trading platforms. As Cointelegraph reported earlier this week, Binance recently overtook BitMEX and became the second-largest platform in terms of 24-hour Bitcoin (BTC) futures trading volume. When asked whether he is surprised by such success, Gong said that the firm created the product with the plan of becoming the top Bitcoin futures trading platform: “We knew we would be there soon, and we made…

As Trump Talks Trillions, Binance CEO Predicts $2T Bitcoin Market Cap

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After United States President Donald Trump first mooted a $1 trillion stimulus package for the U.S. economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount. As Cointelegraph reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible. Binance CEO Changpeng Zhao even tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”. Will a devaluing U.S. Dollar push…

Binance Holds $1B in ERC-20 Stablecoins

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Binance has more than $1 billion in ERC-20-based stablecoins as of March 24. This figure surpasses a milestone that quite far ahead of second-place Huobi. Binance holds $1,007,585,549 of these stablecoins as of press time, a balance that has grown some $105,583,132 over the past seven days, according to the global stablecoin exchange balance by Nansen. Huobi’s balance is slightly more than half that sum: $694,327,505. That figure represents a growth of $165,823,720 in the same seven days as Binance. These companies are distinctly leading the pack in stablecoin balance.…

Your Favorite Privacy-Minded Browser Is Teaming Up With Binance

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Brave has partnered with Binance to bring in-browser crypto trading to its 13 million users. The Binance Widget allows Brave users to make crypto trades without leaving the browser. Branden Eich, CEO of Brave Software explained the rationale behind this partnership in an interview with Cointelegraph: “Our focus has always been on our users. This time, it’s about making crypto more usable by more people. We already have 1.6 million users who are crypto-savvy, they have signed up for the BAT Rewards Program; now they’ll be able to make crypto…