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Binance Tackles Cryptocurrency ‘Misinformation’ With Multilingual Educational Article Bank

Binance joins the various education initiatives seeking to provide reliable material on the industry.

Cryptocurrency exchange Binance has launched a collection of educational content comprising almost 500 articles in order to fight “incorrect” and “misleading” information, a press release confirmed Dec. 12.

Binance, which regularly tops the list of the world’s largest exchanges by volume traded, will initially support 15 languages via the project.

The launch and development is a product of Binance Academy, the exchange’s dedicated education arm which itself began operating in August.

“Misinformation spreads extremely fast. People are frequently quoting articles that are either incorrect or are misleading,” Ted Lin, chief growth officer at Binance commented in the release. Lin noted:

“With Binance Academy, our goal is to provide an entirely neutral platform with quality, unbiased, educational information.”

While it remains unknown what specific information will be covered, topics will include blockchain, security and economics, as well as “useful tutorials and guides,” Lin added.

The decision to launch an informational resource comes as even the topic of Bitcoin’s own identity continues to come under the spotlight.

Following the turmoil of the Bitcoin Cash (BCH) hard fork last month, the altcoin’s proponents, notably news and information resource Bitcoin.com, continue to assert that Bitcoin Cash is the “real” Bitcoin, an angle which has earned the publication criticism in the past.

Developing such resources has also become an occupation of various other entities in the cryptocurrency industry and beyond, October seeing a government-endorsed scheme by Gibraltar to develop blockchain education courses.

Ethereum co-founder Joseph Lubin’s ConsenSys — a blockchain startup and incubator — in partnership with online education platform Coursera, along with Oxford University professors, have also put forward separate blockchain educational plans of their own.

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Binance’s Bitcoin (BTC) Trading Share Falters In Crypto Bear Market

Binance’s Bitcoin (BTC) Trading Dominance Dives

Another week, another crypto-centric analytics report from Diar, a leading research unit in the nascent cryptocurrency ecosystem. In the startup’s most recent installment, released on Monday, Diar drew attention to the ever-changing role that Bitcoin (BTC) and that exchanges that support it have played in the cryptocurrency market at large. Interestingly, per data compiled by Diar, sourced from this industry’s foremost exchanges, Binance’s nearly-unquestioned hegemony over crypto may be at risk.

According to Diar, “Bitcoin trading volumes have taken a hit across major token exchanges over the course of 2018.” The research team, doing their best to portray this happenstance, noted that while Binance continues to dominate the crypto trading scene, its in-house BTC/USD(T) pair only accounts for 32% of the entire market’s total BTC/USDT volume. While this may seem like a hefty figure in and of itself, considering that this statistic for Binance peaked at 47% in June, the unprecedented growth of interest in altcoins through Binance may be worrying to Bitcoin’s diehard maximalists.

Binance isn’t alone in its inability to attract active Bitcoin traders. Hong Kong-based Bitfinex saw its BTC/USD market undergo an even worse popularity decline, with the pair now only amounting for 27% of the market’s aggregate BTC/USD volume, compared to 51% at the turn of 2017. This can likely be attributed to the platform’s uncanny ability to generate immense controversy in recent months, as seen by the Tether debacle and banking qualms.

Interestingly, “State-side” platforms, exchanges based in America, have “suffered” the largest losses in BTC/USD in recent months, with Bittrex and Polniex now only accounting for 2.7% of Bitcoin trading volumes.

There’s been one notable outlier in this case of ‘bear market blues’, with OkEX, widely lauded as Binance’s primary competitor, seeing its primary BTC market post a 6x market share gain since January.

Report: Crypto Market To Consist Of 66% Bitcoin in 2019

Although Diar’s report didn’t paint a positive picture for the short to mid-term prospects for Bitcoin’s hegemony over the cryptosphere, as it seems that traders are looking to altcoins yet again, a number of analysts from A.T. Kearney expect for BTC to continue to rule over altcoins with an iron fist, no holds barred.

Per reports from Forbes contributor Panos Mourdoukoutas, who has taken a liking to Bitcoin, A.T. Kearney, a multinational management consulting firm, reportedly issued a report specifically on Bitcoin’s market dominance statistic, which is currently situated at 55%. The corporation noted that it expects for the statistic to “nearly” reach two-thirds of the aggregate capitalization of cryptocurrencies. Citing reasons for this ~66% target, which isn’t out of the realm of possibility, the American firm purportedly stated that altcoins have “lost their luster” due to growing risk aversion tactics enlisted by retail investors.

Investors’ growing penchant for liquidating their altcoin positions for Bitcoin can potentially be chalked up to the U.S. SEC’s renewed crackdown on ICO-funded tokens. Just recently, the American financial regulator fined AirFox and Paragon, two lesser-known ICOs, in a precedent-setting case, instilling fear throughout the crypto investor base as a whole. As is common practice, if there aren’t enough rewards to justify the risk, investors won’t allocate capital to the asset class in question. This case with altcoins, a majority of which were parented by ICOs, is undoubtedly no different.

However, A.T. Kearney says this isn’t exactly the case, with the firm drawing attention to the ever-growing complexity of the nascent altcoin subset. Courtney Rickert McCaffrey at A.T. Kearney wrote:

“Our prediction is that Bitcoin will regain its dominance is supported by the ever-growing complexity among altcoins, most recently demonstrated by the ‘hash war’ that occurred in the Bitcoin Cash ecosystem.”

Although this isn’t a well-documented issue, a number of crypto-centric consumers took to Twitter during Bitcoin Cash’s hard fork to express how confusing the whole fracas was. This, of course, only legitimizes the aforementioned firm’s report, albeit only be a smidgen.

Title Image Courtesy of Andre Francois Via Unsplash

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Changpeng Zhao Likens Binance Chain To Ethereum, BNB To ETH

Binance Chief Speaks On DEX — BNB Like Ethereum (ETH) 

As reported by Ethereum World News last week, Changpeng Zhao, CEO of the world-renowned crypto startup that is Binance, recently sneak peaked its most promising venture yet, the so-called “Binance Chain” and the decentralized exchange (DEX) that will be based upon it.

Through the medium of a short video, an unnamed member of the project’s vast team outlined the latest edition of the DEX demo, which sports a graphical user interface (GUI) that is reminiscent of the startup’s world-renowned centralized exchange. The seven-minute video outlined a number of the venture’s pertinent features, including the issuance of trade orders, which were surprisingly quick, account and wallet creation for the newfangled blockchain, and the in-house block explorer.

While the ambitious project was well-received by the community at large, with Binance Coin (BNB), the startup’s in-house crypto asset, posting a hefty single-digit gain following the DEX sneak peek on Tuesday/Wednesday, little is still known about the venture’s exact intricacies and caveats. Former Bloomberg employee Zhao, who also goes by “CZ,” recently took to CoinTelegraph to lend his insight on the matter.

The long-time crypto advocate, who made an entree into this innovative ecosystem years ago, told the media outlet:

The Binance DEX is a decentralized exchange that allows you to trade you to another token on our chain… The chain also allows you to send and recieve BNB, which is the native coin, plus other tokens. So the blockchain can allow you to send and recieve [tokens/coins] directly, only if I want to send them to you.

CZ, doing his best to explain Binance’s latest initiative in-depth, added that the blockchain his upstart developed is very similar to how Ethereum, ETH, and ERC-20 tokens operate and are transacted/traded.

Touching on what sets Binance’s DEX and blockchain apart from competing networks, namely Ethereum, Stellar, EOS, or Tron, the industry savant first noted that ideally, cryptocurrency transactions would be “instantaneous.” Yet, as seen by the block times posted by the Bitcoin network, for example, transactions almost always take upwards of 10 minutes to settle.

While Zhao acknowledged this, stating that “initially [blockchains] did that,” the CEO noted that as Bitcoin and Ethereum have drastically grown in popularity, not only can transaction fees spike, but so can the speed of transfers. CZ noted that with Binance Chain, faster and cheap transactions should be possible yet again, which he sees as the “original inspiration for crypto” and related technologies.

Further touching on this point, the former OkCoin (OkEX) executive, explained that current DEXs, while much more distributed than centralized exchanges, are “either slow or have relatively difficult UIs,” with there being close-to-zero platforms to provide a happy medium for consumers. As such, Zhao is seemingly stating that the creation of the Binance DEX was predicated on the need for a “high capacity chain” and an easy-to-use decentralized platform. CZ explained:

So, we believe that as we improve the latency and the user experience on the DEX, we’re hoping to see liquidity increase on the DEX, hopefully making a [good] contribution to the market.

Putting a spotlight on BNB, which has followed the performance of Bitcoin (BTC) in recent weeks, Zhao noted that his firm is currently “working with many partners on the business side” to implement BNB into their services. One of Binance’s recent notable partnership is with TravelByBit, which allows cryptocurrency users to travel the world through the use of cryptocurrencies. In the end, as alluded to by the member of Binance’s top brass, these partnerships come down to Binance’s goal to create a cryptocurrency ecosystem that is cost- and time-efficient and widely used.

Binance Forges Ahead In Crypto Bear Market

Binance Chain and its decentralized platform aren’t the only ventures that the preeminent crypto startup is embarking on.

Binance Labs, the venture and incubator arm of its namesake, recently made a $3 million investment into Koi Trading. San Francisco-based Koi Trading, for those who aren’t aware, is an emerging platform that acts as an OTC desk, specializing in the facilitation of non-retail investor-issued crypto exchange orders.

Title Image Courtesy of sydney Rae on Unsplash

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Hodler’s Digest, Dec. 3-Dec.9: US SEC Delays BTC ETF Decision Again, While Nasdaq Confirms 2019 BTC Futures Launch

The United States SEC has delayed their Bitcoin ETF decision yet again, and Venezuela’s Petro is raised 150 percent in value.

Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link.

Top Stories This Week

Top Stories This Week

US SEC Delays Bitcoin ETF Decisions, Changes Deadline to Late February

The United States Securities and Exchange Commission (SEC) has again postponed its decision regarding approval for a Bitcoin (BTC) exchange-traded fund (ETF) this week.

According to a document released by the SEC, the new deadline is Feb. 27, 2019, and they will take the extension to further review the rule change proposals needed to list the BTC ETF.

The financial instrument was proposed by investment firm VanEck and blockchain company SolidX, with plans to list it on the Chicago Board Options Exchange (CBOE). Legally, as the proposed rule change was first published in the Federal Register on July 2, 2018, the maximum period of consideration falls 240 days later, on Feb. 27, 2019.

Venezuelan President Maduro Raises Petro’s Value by 150 Percent

Nicolas Maduro, the president of Venezuela, has raised the reference value of the national cryptocurrency, Petro, from 3,6000 to 9,000 sovereign bolivars. Speaking in Caracas this week, Maduro also ordered an increase in the monthly minimum wage by 150 percent, the sixth increase in 2018 and 25th in total during Maduro’s presidency.

At the same time, Venezuela also devalued Dicom, the official exchange rate in the country, bringing the national fiat down around 40 percent from 96.84 sovereign bolivars per dollar on Nov. 30 to 171.67 the following day.

Nasdaq Confirms Bitcoin Futures Launch for First Half of 2019

Nasdaq, the world’s second-largest stock exchange, has confirmed plans to launch Bitcoin futures in the first half of 2019. VanEck Director of Digital Asset Strategies Gabor Gurbacs told Cointelegraph that the firm has been discussing futures with Nasdaq, MVIS Indices, and other market participants for “about 18 months.”

According to Gurbacs, the new offering will differ from those trading on the on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) with its transparency and resiliency.

Major Crypto Exchange Binance to Launch ‘Binance Blockchain’ Soon

Binance, the world’s largest crypto exchange by trading volumes, will launch its own blockchain “Binance Chain” in the “coming months,” according to a tweet this week. The upcoming blockchain will allow persons to create new cryptocurrencies and Initial Coin Offering (ICO) tokens. Binance CEO Changpeng Zhao (CZ) noted that the new plans are actually a response to the “old vision” of crypto, which will then lead to increasing adoption on a global scale.

Crypto Exchange ErisX Raises $27.5 Mln in Funding from Fidelity, Nasdaq, Others

Crypto exchange ErisX has raised $27.5 million from stock exchange Nasdaq and Fidelity, which administers over $7.2 trillion in client assets, among other clients. According to media reports, ErisX will offer both spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), as well as futures markets in the following year, pending regulatory approval.

Previous reports had noted that ErisX could include Bitcoin Cash (BCH) support, but this week’s news did not include the altcoin. According to ErisX CEO Thomas Chippas, the investment’s purpose is to hire staff and “build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets.”

Most Memorable Quotations

Most Memorable Quotations

Hester Peirce

“Definitely possible could be 20 years from now, or it could be tomorrow. Don’t hold your breath. The SEC took a long time to [establish] Finhub. It might take even longer to approve an exchange-traded product,” — Hester Peirce, commissioner of the United States Securities and Exchange Commission (SEC), speaking about Bitcoin ETF approval

Justin Sun

“#TRON will build a fund to rescue #ETH and #EOS developers from the collapse of their platform as long as those developers migrate their dapps to #TRON,” — Justin Sun, TRON CEO

Laws and Taxes

Laws And Taxes

US: Two New Bills Focusing on Crypto Market Manipulation, Regulations Introduced

Two new bills in the United States were compiled this month that focus on crypto market manipulation, with the aim to “position the United States to be a leader in the cryptocurrency industry.” The “The Virtual Currency Consumer Protection Act of 2018” and “The U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018” will go before the House of Representatives, and were a bipartisan effort from congressmen Darren Soto and Ted Budd.

Swiss Finance Minister Prefers Current Laws, Rejects Creation of Blockchain Legislation

Ueli Maurer, the Swiss Minister of Finance, has rejected a possible blockchain law in a speech at blockchain conference this week. Switzerland plans to work with existing laws in order to regulate and legislate the new technology and its financial applications, as opposed to introducing a specific blockchain or crypto legal framework, according to Maurer. The government expects to propose changes to six laws, including the civil code and bankruptcy law, in 2019.

New York Financial Services Department Approves Blockchain Digital Payment Platform

The Department of Financial Services of New York (NYDFS) has authorized a blockchain-based digital platform offered by New York-based Signature bank. The financial services department will allow the bank to offer its digital payment platform Signet in the state, which uses blockchain tech to allow bank clients to “transfer ‘Signets’ to make payments with no transaction fees, at any time of the day, year-round.” The department noted that Signet has been subject to a “comprehensive and rigorous review” and needs to comply with “significant regulatory conditions.”

US Congressman Plans to Introduce Federal Cryptocurrency and ICO Regulation

Republican U.S. Representative Warren Davidson announced plans this week to introduce legislation on a federal level to regulate both cryptocurrencies and Initial Coin Offerings (ICO). The new bill would create an “asset class” for both crypto and digital assets, which “would prevent them from being classified as securities, but would also allow the federal government to regulate initial coin offerings more effectively.”

G20 Leaders Call for Global Cryptocurrency Taxation and Regulation Systems

After their meeting this week, the G20 countries have called for the taxation of cryptocurrency, as well as its regulation to combat money laundering. According to a Japanese news outlet Jiji.com, the final text of a G20 document asks for a “taxation system for cross-border electronic payment services.” The document then continues that under the current laws, foreign companies without a base in Japan cannot be taxed by the local government, noting the need for this taxation system.

Adoption

Adoption

Mastercard Files Patent for Anonymization Method for Blockchain Transactions

Mastercard has filed a patent for a system that anonymizes transactions on a blockchain. According to the filing, the “the use of one or more intermediary addresses to obscure the source and destination of funds in a blockchain transaction” can be used in order to “increase anonymity of entities associated with blockchain addresses.” The system outlined by Mastercard would consist of a series of “anonymization request[s]” designed to anonymize the transactions themselves, rather than just the user behind any individual wallet.

Switzerland’s ‘Crypto Valley’ Ranked the ‘Fastest-Growing’ European Tech Hub

Zug, Switzerland, which is also known as “Crypto Valley,” has been ranked the fastest-growing tech community in Europe. According to the “State of European Tech” report from London-headquartered global technology investment firm Atomico, Zug tops the list in a comparison of year-on-year growth of attendees to tech-related “meetup” events per European city. The report notes that Zug has a 117 percent increase as compared with 2017.

More Than One Third of German Big Businesses See Blockchain as Important as Internet

A recent survey has shown that over one third of big businesses in Germany consider blockchain technology to be as revolutionary as the internet. The survey, conducted by the German Federal Association for Information Technology, Telecommunications and New Media (Bitkom), found that 15 percent of German companies think blockchain will “change society and the economy as much as the Internet.” Larger companies, with 500 or more employees, were more than twice as likely to hold that opinion, at 36 percent.

Abu Dhabi Int’l Financial Free Zone Completes Phase of Blockchain-Based KYC Project

The Abu Dhabi Global Market’s (ADGM) regulatory body, the Financial Services Regulatory Authority (FSRA), along with Big Four audit firm KPMG, released a review of the blockchain-based Know Your Customer (KYC) utility project this week, calling it a “successful” first phase. An international financial free zone in the capital of the United Arab Emirates (UAE) worked on the project for four months, along with a consortium of major UAE-based financial institutions. The review notes the use of cryptography and digital signatures can support a more secure and convenient system for upholding KYC industry standards.

US Air Force Graduate Schools Develops Blockchain-Based Supply Chain Tool

The graduate school for the U.S. Air Force has developed an educational tool based on blockchain technology for managing supply chains. The tool is a live application and a set of tutorial videos released by the U.S. Air Force Institute of Technology (AFIT). According to their report, “blockchain will revolutionize […] the digital infrastructure for future supply chains,” which can translate into “better visibility” for the military’s “extremely complex logistics network.” The Institute worked with private supply chain security firm SecureMarking and the University of South Dakota Beacom School of Business.

Mergers, Acquisitions, and Partnerships

Mergers, Acquisitions, and Partnerships

Seven Southern EU Member States Sign Declaration to Promote Blockchain Use

Seven southern European Union members states — Malta, France, Italy, Cyprus, Portugal, Spain, and Greece  — have released a declaration calling for the promotion of distributed ledger technology’s (DLT) use in the region. The document notes blockchain tech’s use in protecting citizens’ privacy and making bureaucratic systems more efficient, as well as its potential for use in the “education, transport, mobility, shipping, Land Registry, customs, company registry, and healthcare” industries.

Hardware Wallet Ledgers Partners with German Startup to Create Security Token Framework

Crypto hardware wallet firm Ledger and crypto startup Neufund have announced a partnership to let users manager security tokens through Ledger’s desktop application. The collaboration aims to develop an overall framework for security tokens. In addition, Ledger Live, which is a recently launched desktop app for crypto asset management, plans on “soon” adding an ERC-20 integration, which will let users manage security tokens issued via Neufund’s set of protocols.

US Trading-Comms Firm Partners With Blockchain Consortium R3

American trading-communications firm IPC system and enterprise blockchain software consortium R3 have partnered this week. IPC is known for producing trading turrets, i.e., communications systems used by financial traders on their trading desks. With the partnership, IPC will support R3’s Corda blockchain networks on its Connexus Cloud platform — a financial markets cloud-based platform for data, voice, and business communications and compliance.

Four Blockchain Companies Jointly Launch ‘Blockchain for Europe’ Association

Four major blockchain companies — Ripple, the NEM Foundation, Emurgo, and Fetch.AI — have formed a “Blockchain for Europe” Association. The organization’s aim to promote understanding and proactive regulation of blockchain and other distributed ledger (DLT) technologies across Europe, addressing the EU’s “fragmented” policy debate around blockchain. The organization will use education about the technology in the member states in order to advocate for future “smart” regulation, conducive to innovation, that will help the continent “shape the global agenda” on blockchain.

Funding Rounds

Funding Rounds

Overstock.Com’s Blockchain Venture Arm Purchases Equity in Blockchain Agri Project

Medici ventures, Overstock.com Inc.’s blockchain venture arm, has purchased $25 million in equity in agricultural blockchain project GrainChain. The project has developed a blockchain-powered system for the tracking of supply chain parties in the distribution process of harvests, allowing producers, buyers, and sellers to create smart contracts in order to secure funds throughout the grain transaction process. The platform is aimed at small- and medium-scale farmers, which can then remove the middlemen and conduct business outside of their immediate geographic area.

Seven New Funds in Ohio Plan $300 Million Investment for Blockchain Startups

Seven Ohio-based funds and other investment teams will contribute $300 million in investments into blockchain startups through 2021, as announced this week by executives. Speaking at a blockchain conference, the CEO of nonprofit JumpStart Ray Leach announced that the seven funds with investing $100 million in “early-stage startups that focus on using blockchain technology for business or government.” As well, “additional investment teams” will add $200 million for blockchain outfits working within Ohio’s social welfare projects, dubbed “Opportunity Zones.”

Sequoia Capital, Huobi Participate in $35 Mln Funding for Scalable ‘Blockchain’ Network

A new blockchain-type network led by a Turing Award recipient and various other academics have received $35 million in funding from investors including Sequoia Capital, IMO Ventures, FreesFund, Rong 360, Shunwei Capital, F2Pool, and major crypto exchange Huobi. The network, dubbed “Conflux,” aims to tackle blockchain scalability, proclaiming that its new testnet is capable of processing ”at least 6,500 Transactions Per Second (TPS), while supporting at least 20,000 nodes.”

Winners and Losers

Winners And Losers

BTC ETH

The market is holding steady after a week of declines, with Bitcoin trading at around $3,489, Ripple at $.30, and Ethereum at $91.99. Total market cap is at about $110 billion.

The top three altcoin gainers of the week are TittieCoin, Bastonet, and TRONCLASSIC. The top three altcoin losers of the week are FREE Coin, Etheera and RabbitCoin.

For more info on crypto prices movement, make sure to read Cointelegraph’s market analysis.
 

FUD of the Week

FUD Of The Week

Former Israeli PM Calls Crypto a ‘Ponzi Scheme,’ But Thinks Blockchain Is Important

Former Israeli Prime Minister Ehud Barak compared digital currencies to Ponzi schemes but noted the importance of blockchain technology. Barak, who participated in the Camp David Accords in 2000, now serves as the chairman of medical marijuana producer InterCure. When asked about the comparison of the alleged marijuana investment “bubble” to crypto, Barak underlined that “he would never invest” in cryptocurrencies as “Bitcoin and cryptocurrencies [are] a Ponzi scheme.” However, Barak added that blockchain technology and smart contracts are important and useful technological and mathematical concepts.

US Securities Regulator Issues Cease and Desist to Delaware-Based Digital Asset Fund

The U.S. Securities and Exchange Commission (SEC) has issued a cease and desist against CoinAlpha Advisors LLC in addition to ordering a $50,000 penalty to be paid. The company had allegedly raised over $600,000 from 22 investors in at least five states, purchasing limited partnership interest in the fund in exchange for a proportional share of any profits derived from the fund’s investment in digital assets. However, even those CoinAlpha filed an exemption notice with the SEC in November 2017, the company was not registered with the SEC, meaning that they violated securities laws.

Chilean Supreme Court Rules Against Crypto Exchange Over Bank Account Closure

The Chilean Supreme Court has ruled against crypto exchange Orionx in a case over the right for state-owned bank Banco del Estado to close the exchange’s account. The high court revoked the July decision that protected Orionx and ordered the bank to reopen the account, with the court decision noting that the nature of cryptocurrencies prevents banks from receiving detailed information on transactions, customers, and companies that interact with the assets. The court has ruled that the bank did not violate any aspect of the Chilean constitution.

South Korean Financial Authority Warns 2 Banks Over Poor Crypto Transaction System

A financial authority in South Korea has warned major domestic banks Kookmin Bank and Nonghyup Bank over their lack of management of cryptocurrency transactions and Anti-Money Laundering (AML) regulation. The country’s Financial Supervisory Service (FSS) has found that the banks had “unreasonable elements related to virtual [currency] handling business.” The banks have also been given orders for improvement and must submit the measures to the FSS within three months or face more “direct sanctions.”

BTC

Prediction Of The Week

Quoine CEO: Bitcoin Will Surpass Last Year’s All-Time Highs by End of 2019

Mike Kayamori, the CEO of Japanese fintech firm and crypto exchange operator Quoine, said in an interview this week that he believes Bitcoin (BTC) will “surpass” its all-time price highs by the end of 2019. He also noted that the bottom is near for the top coin, citing the pressure on Bitcoin miners as an accurate sign of its coming. Kayamori added that the better practices across the industry, Japan’s crypto ecosystem, in particular, is experiencing a period of “consolidation.”

Best Cointelegraph Features

Best Cointelegraph Features

G-20 Summit Results: Crypto Is Important for Global Economy, Needs to Be Regulated and Taxed

After the G20 summit that took place last week, the global community learned that G20 leaders believe the cryptocurrency is worth bringing up in reference to the sustainable development of the global economy. In this analysis, Cointelegraph looks at how the G20 member states see their role in both crypto regulation and taxation.

EOS Community Is Challenged After Node Announces Financial Rewards for Votes

After various previous centralization scandals surrounding altcoin EOS, a new issue has surfaced, with one of their Block Producers (BP) allegedly offering money in exchange for voting them as a proxy in a thinly veiled “gamification.” Cointelegraph delves into the BP, Starteos, and how its offer of crypto for votes was received in the EOS community.

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Coinbase CTO Clarifies That The Firm Will Not Trademark the Word BUIDL

Earlier on in the day, there were news reports that the American cryptocurrency exchange of Coinbase had intentions of trademarking and owning the term ‘BUIDL”. The term is an intentional misspelling of the word ‘build’ that has been popularized by developers building on the blockchain. The CEO of Binance, Changpeng Zhao, has used the term several times to explain to the crypto community that the best thing to do during a bear market, is simply to keep BUIDLing.

Crypto community members have even proposed that BUIDL should replace HODL as can be seen in the following tweet by @KoroushAK.

The Trademark Application By Coinbase

The application to the Commissioner for Trademarks in the United States is available online and it clearly states that Coinbase Inc, a corporation of Delaware (USA), is the sole applicant wishing to trademark the word BUIDL.

Coinbase CTO Clarifies that the Firm Will Not Trademark BUIDL

Talk on twitter of Coinbase trademarking the word has caught the attention of the firm’s Chief Technology Officer, Balaji Srinivasan.

Mr. Srinivasan has in turn clarified via twitter that the firm’s CEO – Brian Armstrong – and himself, do not believe in trading such words that obviously belong to the crypto and blockchain communities.

His tweet can be found below.

Mr. Srinivasan also explained that the firm had no intention of preventing the community from using the term.

In more detail: the team had no intention to prevent the community from using it. There had been thought of a feature named Coinbase BUIDL and they didn’t want to attract patent trolls for a common term. Was 100% defensive filing.

What are your thoughts on the initial report of Coinbase trademarking the word BUIDL? Do you agree with the firm’s CTO that such unique words belong to the crypto community? Please let us know in the comment section below. 

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 Ethereum World News 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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Major Crypto Exchange Binance Launches ‘Sub-Accounts’ for Institutional Clients

The world’s largest crypto exchange Binance has released a new sub-accounts feature for institutional and high-tier individual traders.

Top cryptocurrency exchange Binance has released a new sub-accounts feature for institutional and high-tier individual traders, according to a press release shared with Cointelegraph Dec. 6.

The feature will allow parties to create up to 200 subsidiary trading accounts under the canopy of one main account. This “master” account will have sole control over movement of assets between sub-accounts, and be able to grant each of them different access levels and permissions. Nonetheless, each sub-account will retain its own set of API limits to allow for high capacity trading.

According to Binance’s breakdown of the differences between the master account and its subordinates, the former will have the exclusive ability to view all data and balances, transfer funds between accounts, and have full managerial control and access to a range of asset audit tools.

The press release gives further details, noting that the account management function allows master accounts to freeze or unfreeze their subordinates.

The new sub-account feature is limited in availability to corporate users and individuals with VIP 3 tier (or above) accounts; Binance outlines that “VIP tiers will be calculated on an aggregate basis, and corresponding discounts will be applied to all sub-accounts.”

The exchange has also emphasized that it has upped security for its new sub-account feature by rigorously “sub-dividing” login information to minimize risk.

As reported yesterday, Binance recently released a second preview of its forthcoming decentralized exchange (DEX), stating that a testnet version of the platform will become available for prospective users “soon.”

As of press time, Binance is the world’s crypto largest exchange by daily trade volume, seeing $798 million in trades over the 24-hour period.

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Top Exchange Binance Announces ‘SAFU’ Hackathon, Conference in Singapore

The first crypto conference organized by the largest crypto exchange Binance will include a two-day ‘SAFU’ Hackathon in Singapore.

The world’s largest cryptocurrency exchange, Binance, has announced that it will host the company’s first conference, according to a press release shared with Cointelegraph Dec. 6.

Binance Blockchain Week is scheduled to be held in Singapore this January and is to include two major events –– the conference itself, along with a two-day “first-ever Binance SAFU (Secured Assets For Users) Hackathon,” according to the press release. As its name indicates, the hackathon reportedly focuses on developing blockchain-based tools for securing crypto assets.

Binance CEO Changpeng Zhao, better known as CZ in the industry, underlines that the firm has chosen Singapore as they consider it “the finance and technology hub of Asia.” CZ also added that the conference will feature the “most notable players and thought leaders in blockchain.”

Earlier this week, Binance announced plans to “help [the] advancement of the industry” by launching its own blockchain, “Binance Chain,” in the “coming months.”  The same day, the industry giant revealed a second preview of its forthcoming decentralized exchange (DEX), as a part of the newly announced Binance Chain initiative.

In October the crypto exchange also revealed the establishment of the Blockchain Charity Foundation (BCF) during the World Investment Forum, hosted by the U.N. Conference on Trade and Development (UNCTAD) in Geneva, Switzerland.

Just last month, BlockShow also held a blockchain conference in Singapore, which saw 2,800 attendees and hosted more than 50 speakers and panelists.

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Binance Adds True USD (TUSD) to its Combined Stablecoin Market (USDⓈ)

Less than a week ago, the team at Binance announced that it was launching a Combined Stablecoin Market (USDⓈ) that would add more stablecoins in addition to Tether (USDT). The move was considered by many, as catering for institutional clients who would prefer multiple stablecoins rather than just one.

Binance already has the following stablecoins.

  • Paxos Standard Token (PAX) – listed on the 21st of September
  • TrueUSD (TUSD) – listed on the 16th of May
  • USD Coin (USDC) – listed on the 15th of November

PAX First To be Added To the Stablecoin Market

Soon after the aforementioned announcement (and on the 29th of November, Paxos Standard Token (PAX) was added onto the stabelcoin market to be a base currency paired with BTC, BNB, ETH, XRP, EOS and XLM.

True USD (TUSD) Added Onto the Stablecoin Market

Earlier today, Binance announced that it was also adding True USD (TUSD) to the stablecoin market. TUSD will be paired as follows:

  • BNB/TUSD
  • BTC/TUSD
  • ETH/TUSD
  • XRP/TUSD
  • EOS/TUSD
  • XLM/TUSD

Technical Delay for BTC, ETH and BNB Pairs

The trading pairs for TUSD had been scheduled to go live tomorrow, December 7th at 10am UTC. However, the team have delayed the listings of BTC, ETH and BNB pairs due to technical reasons. They have since updated the crypto trading community as follows.

Due to technical reasons, we will delay the listing of BNB/TUSD, BTC/TUSD, ETH/TUSD trading pairs to a later date. As such, we will keep the TUSD/BNB, TUSD/BTC, TUSD/ETH trading pairs listed until this date.

This means that only TUSD pairs with XRP, EOS and XLM will be listed tomorrow.

The CEO of Binance, Changpeng Zhao, took to twitter to apologize about the delay. He explained there was a bug that needed to be fixed. His tweet can be found below.

USD Coin (USDC) Likely To Be Next

With two out of three of the stablecoins listed on the new market, it is only natural to assume that it is only a matter of time before USDC is added with similar pairs on Binance.

What are your thoughts on Binance adding PAX and TUSD to the stablecoin market? Please let us know in the comment section below. 

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 Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Binance Adds True USD (TUSD) to its Combined Stablecoin Market (USDⓈ) appeared first on Ethereum World News.

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Binance Adds True USD (TUSD) to its Combined Stablecoin Market (USDⓈ)

Less than a week ago, the team at Binance announced that it was launching a Combined Stablecoin Market (USDⓈ) that would add more stablecoins in addition to Tether (USDT). The move was considered by many, as catering for institutional clients who would prefer multiple stablecoins rather than just one.

Binance already has the following stablecoins.

  • Paxos Standard Token (PAX) – listed on the 21st of September
  • TrueUSD (TUSD) – listed on the 16th of May
  • USD Coin (USDC) – listed on the 15th of November

PAX First To be Added To the Stablecoin Market

Soon after the aforementioned announcement (and on the 29th of November, Paxos Standard Token (PAX) was added onto the stabelcoin market to be a base currency paired with BTC, BNB, ETH, XRP, EOS and XLM.

True USD (TUSD) Added Onto the Stablecoin Market

Earlier today, Binance announced that it was also adding True USD (TUSD) to the stablecoin market. TUSD will be paired as follows:

  • BNB/TUSD
  • BTC/TUSD
  • ETH/TUSD
  • XRP/TUSD
  • EOS/TUSD
  • XLM/TUSD

Technical Delay for BTC, ETH and BNB Pairs

The trading pairs for TUSD had been scheduled to go live tomorrow, December 7th at 10am UTC. However, the team have delayed the listings of BTC, ETH and BNB pairs due to technical reasons. They have since updated the crypto trading community as follows.

Due to technical reasons, we will delay the listing of BNB/TUSD, BTC/TUSD, ETH/TUSD trading pairs to a later date. As such, we will keep the TUSD/BNB, TUSD/BTC, TUSD/ETH trading pairs listed until this date.

This means that only TUSD pairs with XRP, EOS and XLM will be listed tomorrow.

The CEO of Binance, Changpeng Zhao, took to twitter to apologize about the delay. He explained there was a bug that needed to be fixed. His tweet can be found below.

USD Coin (USDC) Likely To Be Next

With two out of three of the stablecoins listed on the new market, it is only natural to assume that it is only a matter of time before USDC is added with similar pairs on Binance.

What are your thoughts on Binance adding PAX and TUSD to the stablecoin market? Please let us know in the comment section below. 

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 Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.