Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.
According to the Wall Street Journal, Zhao stated that he would be willing to step down as the CEO of Binance in order to resolve the company’s regulatory problems.
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The move comes a week after the Securities and Exchange Commission cleared the way for the launch of the first bitcoin-linked ETF. Investors poured more than $1bn in to the ProShares Bitcoin Strategy fund, prompting it to buy up futures contracts that track the price of bitcoin. This, in turn, propelled the price of bitcoin to an all-time high.
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Meanwhile, Commonwealth Bank of Australia said it will become the country's first to offer retail clients crypto services, Australia's largest bank said on Wednesday, marking a change from the sector that had refused to do business with cryptocurrency providers.
Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
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Launched in 2015, Ethereum (ETH) is the second most popular cryptocurrency and, on most days, the second most valuable after Bitcoin.
The good news for U.S. customers is that Binance.US does offer the same low trading fees that its parent company, Binance, does. The only slight difference is that the US exchange offers 10 VIP levels whereas the international platform only has 9 VIP levels. However, for almost all traders, that won't make a difference.
This gives sellers an incentive to charge transaction fees, since they get paid faster by doing so, and so it’s fairly common for cryptocurrency transactions to come with fees.
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Cryptocurrencies like Bitcoin have traditionally had little price correlation with the stock market in the United States, so owning some can help diversify your portfolio. If you believe that cryptocurrency usage will grow in popularity over time, it's probably a good idea to invest in crypto as part of a balanced portfolio. Make sure you have an investment thesis for each cryptocurrency you buy. This will help you understand why the currency will stand the test of time.
4JNET is scheduled to make its first debut on December 1, giving investors the opportunity to trade the digital assets from all over the globe. This is another chance for investors to get in early on an asset with appreciative value. 5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
New York City Mayor-elect Eric Adams pledged Thursday that he would accept his first three paychecks in bitcoin when he formally takes office next year.
Competing and bracing in the tough markets, SafeMoon is a cryptocurrency that refuses to bow down to central government pressures or be chained in defective and regulatory monetary shackles. SafeMoon has made it possible for everyone to store and transfer value in a currency that is resistant to manipulation.
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Binance US names Ant exec Shroder president 10 September 2021 The US arm of Binance has appointed former Ant Group and Uber executive Brian Shroder president, replacing Brian Brooks who quit suddenly in August after just four months in the job.