Important Binance Announcement Affecting Ripple (XRP), ADA, SHIB Holders
Binance will halt support for BUSD product in mid-December.
Binance is the world’s leading cryptocurrency exchange in terms of the trading volume between 2017 and 2019. Initially launched in China, the company moved its headquarters in Malta. It is believed that the move was in order to avoid severe regulatory hurdles.
The exchange was launched back in 2017 by Yi He and Changpeng Zhao (CZ). The latter is also the CEO of the company and one of the most prominent people within the entire cryptocurrency community.
Binance has managed to develop into something a lot more than merely a trading platform. In fact, it provides an entire ecosystem where users can trade, invest, and even earn interest on cryptocurrency they stake.
One of the more exciting developments for Binance was the Launchpad, which gave birth to a new phenomenon in 2019 called Initial Exchange Offerings (IEOs). Unlike traditional Initial Coin Offerings, IEOs saw the cryptocurrency exchange do a serious due-diligence prior to listing the coins for trading on their very own platforms. Almost all of the major exchanges followed in the footsteps of Binance.
Earlier in 2019, Binance also introduced a dedicated Bitcoin futures platform, in addition to margin trading. The volume quickly picked up and surpassed that of the main spot exchange.
Moreover, the exchange launched its native cryptocurrency called Binance Coin (BNB). The exchange is doing a lot to ensure its utility. Traders can use it to enjoy reduced fees; it’s also the only cryptocurrency accepted for IEO investments on Binance Launchpad, and so forth.
Binance is also considered to be one of the safest exchanges out there. It has introduced the Secure Asset Fund for Users (SAFU). The exchange allocates 10% of all of the trading fees to that fund, to provide its clients with protection in extreme cases. The funds there are stored in a separate cold wallet.
Binance will halt support for BUSD product in mid-December.
Binance is still the undisputed leader with a market share of almost 50%.
BTC's supply on crypto exchanges has plunged to a six-year low of 5.38%.
Bitcoin holders are increasingly embracing self-custody amid a waning trust in cryptocurrency exchanges.
The plaintiffs claim users lured by Ronaldo's promotions engaged with Binance for other activities, like buying unregistered securities.
Wu Blockchain noted a "new phenomenon" in recent Binance listings.
The crypto mogul’s interest in Binance.US will now be “purely economic.”
Judge Faruqui said CZ’s guilty plea last week made it less likely that the former CEO would mishandle US customer
Financial revolution platforms lack political/financial backing, instead run by ordinary individuals - Arthur Hayes.
Binance's customer support team was quick to respond to the ongoing speculations.