Tag Archives: Binance

Binance Makes Major Move into P2P Trading + 9 More Crypto News

Binance Makes Major Move into P2P Trading + 9 More Crypto News

                                    Binance Makes Major Move into P2P Trading + 9 More Crypto News 101

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Cryptocurrency exchange news

  • Major exchange Binance has launched peer-to-peer (P2P) trading functionality with BTC, ETH and USDT available for trading against Chinese yuan. Moreover, the company is now accepting fiat onramp with Alipay, a major Chinese online payment platform, and WeChat, another major Chinese multi-purpose messaging, social media and mobile payment app, confirmed Changpeng Zhao, CEO of Binance. Initially, this P2P functionality is available to Android users that have Binance accounts registered for over 30 days, the company said. The CEO added they "will expand the service to other regions soon." As previously reported by Cryptonews.com, fiat-to-crypto conversion is a big thing for Binance and “there’s a lot of initiatives happening.” Binance Coin (BNB), the native token of Binance, is the best performing coin among the top 10 tokens today. At pixel time (10:24 UTC), it trades at c. USD 17 and is up by more than 8% in the past 24 hours and by almost 10% in the past week.

Investment news

  • Major German real estate developer, Bauwens Group has acquired shares of Fundament Group, the end-to-end security issuance solution for asset tokenization, the latter announced. The company did not provide any further details about the deal. "Attaining strategic investment from Bauwens, Fundament Group gains a long-term partner in the real estate development market as well as access to an extensive pipeline of projects in Germany’s key metropolitan areas including Munich, Hamburg, Berlin, and Frankfurt," it said in a press release.
  • One of the largest cryptocurrency asset managers in the world, Grayscale, has raised a total of around USD 85 million from investors in Q2, 84% of which came from institutional investors, Grayscale's director of sales and business development Rayhaneh Sharif-Askary told The Block.
  • ACINQ, one of the developers of the Bitcoin Lightning Network, said it raised USD 8 million, in order to grow its team, improve the Lightning protocol and expand its businesses as a major operator and liquidity provider. The investment round that increased their total funding to USD 10 million, was led by Idinvest Partners, with participation of Serena and Bpifrance, the partially state-owned French investment bank.

Adoption news

  • The Swiss National Bank said it will collaborate with SIX Group, the operator of the SIX stock exchange, in order to examine the integration of digital central bank money into a distributed ledger technology infrastructure. "This new form of digital central bank money would be aimed at facilitating the settlement of tokenised assets between financial institutions," the bank said.
  • UNICEF, the United Nations Children’s Fund, said it will now be able to receive, hold and disburse donations of ether and bitcoin, through its newly-established UNICEF Cryptocurrency Fund. "In a first for United Nations organizations, UNICEF will use cryptocurrencies to fund open source technology benefiting children and young people around the world," the organization said.

Crypto gadget news

  • Casa, the U.S.-based private key security specialist, launched a new version of their plug-and-play Bitcoin and Lightning node, Casa Node 2. The company claims the new device is faster and comes with more memory. "Under the hood, Casa Node 2 has a Raspberry Pi 4 Model B with 4 GB of RAM, along with a fast 1 TB SSD drive," according to the startup.

Libra news

  • Nick Read, chief executive of telco giant Vodafone, said that Facebook's Libra needs to have an independed chief executive to fully separete it from Facebook, The Telegraph reported. However, Vodafone, which is one of the founding members of the Libra Association, reitareted its support for the troubled token project.

Gram news

  • Major messaging app Telegram claims it has no control over the TON Blockchain network, which is about to be launched in October. We "do not have the ability to facilitate any cancellation or modification requests to transactions you have submitted," the company added in their Grams Wallet's terms of service.

Legal news

  • Two law firms, Silver Miller and Levi Korsinsky said they have commenced a class action lawsuit on behalf of investors in Nano f/k/a RaiBlocks (XRB), alleging that Nano and key members of its core team violated federal securities laws. The Complaint further alleges that, in their push to introduce XRB to a wide market of investors, the defendants recklessly directed investors to open accounts and place their assets with a little known, and severely troubled, Italian cryptocurrency exchange called BitGrail, where USD 170 million of the investors' XRB allegedly "disappeared" in February 2018, according to the announcement. At pixel time (09:44 UTC) NANO trades at c. USD 0.8 and is up by 6% in the past 24 hours.

Article Produced By
Linas Kmieliauskas



Flamin’ Hot: Binance Just Burned $24 Million Worth of BNB Coins

Flamin’ Hot: Binance Just Burned $24 Million Worth of BNB Coins

The leadership at Binance continues to strive toward bringing value to their users. This week, the Malta-based cryptocurrency exchange completed its eighth quarterly token burn, wherein nearly 809,000 BNB tokens were burned, that sum being worth approximately $24 million USD at the time of the burn.


The company said this latest token burn was the first toward its new goal of burning 100 million BNB tokens:

“Starting with this burn, Binance will relinquish the BNB tokens allocated to the Binance team and contribute this BNB towards our commitment to burning a total of 100 million BNB. The Binance team tokens equate to 40% of the total BNB supply (80,000,000 BNB, currently worth about US$2,400,000,000).”

The idea? To use deflationary pressure to make BNB tokens worth more in the long run — e.g. not unlike how Kyber Network Crystals (KNC) are burned after every Kyber Network transaction. The large token burn comes after the exchange just had its best two-month stretch in its fledgling history. From May to June 2019, Binance facilitated around $125 billion — the largest reported transaction volume the platform has had in any period to date. Whether the company can maintain such prolific volume as it phases out American users from Binance.com remains to be seen. But Binance US is coming, as well as new margin trading and futures services on Binance.com. In that context, the exchange brand has various ways it’s fighting to maintain its dominance in the cryptoeconomy.

Binance Just Unveiled Its New Margin Trading Service

This week, Binance 2.0 arrived. As part of that arrival, a new Margin Trading service was unfurled alongside the platform’s main exchange service. Both of these services have been underpinned by a new advanced trading engine that has been designed for “better order matching and press indexes for margin level calculations to enable lower liquidations,” the company said in a July 11th press release. As Binance chief operating officier and co-founder Changpeng Zhao explained

on the news:

“This is another step in providing an inclusive cryptocurrency trading platform catering to the needs of both advanced institutional traders and retail traders under the same roof. We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades.”

With the new margin trading service activated, Binance users who have verified their identities will now be able to put up cryptocurrency collateral in a special wallet in order to make leveraged trades on the platform.

Binance: the One-Stop Crypto Shop

As part of the exchange’s bid to maintain its preeminent status in the cryptoeconomy, Binance announced earlier this month that it was also preparing to launch a cryptocurrency futures service, with futures being a mainstream financial instrument used to speculate on the prices of assets. Confirming the imminent status of a new futures interface, CEO Zhao confirmed at the Asia Blockchain Summit in Taiwan that cryptocurrency futures were all but ready to be greenlighted for


“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks.”

Will Binance Join the Libra Foundation?

Representatives of the Gemini cryptocurrency exchange may join the Libra Association, exchange founders Cameron and Tyler Winklevoss noted earlier this week. And there’s been chatter that a representative for the Ethereum community should join the fledgling body. This month, the company’s chief strategy officer Gin Chao commented that the exchange had explored joining the Libra Association, though the matter was still up in the air. He said: “We’re definitely considering it. And so, we would like to throw our hat in the ring. Whether or not we will become one, we’ll see.”

Article Produced By
William M. Peaster

William M. Peaster is an editor and cryptocurrency writer. He is not a financial adviser. He enjoys covering both the promise and warts of the emerging cryptoeconomy.



Fake News: World’s Largest Crypto Exchange Binance Isn’t Adding Dollar Pairs

Fake News: World’s Largest Crypto Exchange Binance Isn’t Adding Dollar Pairs

Binance, the world’s largest cryptocurrency exchange,

has stayed ahead of the curve in recent months with plans to work with banks and potentially introduce fiat trading pairs, something that is sure to make a big impact on the market if implemented. At the moment, investors typically have to buy high cap coins like Bitcoin or Ethereum on exchanges like Coinbase and then withdraw funds to other exchanges in order to buy altcoins, all of which costs time and money in the fast-paced world of crypto trading. The fiat trading pair option would open up the market to many new investors put off by the inaccessibility of the current system.

Binance has shown itself to be a forward-thinking company with plans for long-term growth, evidenced by their recent announcement of their plans to move to Malta to escape regulatory pressure in Japan and develop their platform. They are joined by Bitfinex which is relocating from Asia to Switzerland to enjoy more crypto-friendly regulation. However, while Binance is working with banks and exploring fiat trading options, they corrected claims earlier today that they will be allowing users to buy digital assets with

US dollars.

The reports are “fake news,” a spokeswoman said by email.

Binance CEO Changpeng Zhao confirmed the report an hour ago on Twitter. This is contradictory to multiple articles and reports from various media outlets and Twitter accounts that flooded the crypto news space on Friday, which may well have caused an upward trend in a number of altcoins.

While plans for fiat pairs may be in the pipeline, there are no plans at the moment to include USD. The market has seen a significant rally over the last 24 hours, continuing an upward trend that emerged over the last two weeks, with Ripple and Bitcoin Cash both seeing an increase of over 15 percent.Binance has held the top spot on Coinmarketcap’s overall list of exchanges for some time, with over $2 billion in trading volume over the last 24 hours.

Conor is a cryptocurrency journalist and an ICO writing consultant at The Written Craft content service. He's an advocate of decentralized public control of finance, an off-grid enthusiast, and really fun at parties too.
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