Russian Ruble Will Reportedly Be First Fiat-Crypto Trading Option on Binance, New Bitcoin Cash Pegged Token Listed

Malta-based digital asset exchange Binance is planning to launch its first fiat-to-cryptocurrency trading pairs.

While attending the Open Innovations 2019 conference in Moscow this week, Binance CEO Changpeng “CZ” Zhao said that fiat-to-crypto options would be introduced soon, starting with the Russian ruble.

Zhao stated:

“We’re adding support for fiat trading. In about two weeks or so, we should have support for Russian ruble trading, direct.”

The exchange’s main service, Binance.com, has only offered support for crypto-to-crypto trading. Recently, the company introduced local fiat on-ramps in Uganda, Singapore, Jersey and the US.

Last month, Binance’s management noted that fiat payment options would be added in October for over-the-counter OTC trading (mostly for bulk deals or large orders). Zhao’s comments at the conference suggest that general trading on the Binance will also support fiat currency pairs.

Binance also announced on October 21 that a new Bitcoin Cash (BCH-pegged token had been listed on its decentralized or non-custodial exchange, Binance DEX. The exchange stated that its “BCH-1FD” token would give DEX users more trading options.

Binance said it would provide the initial conversion between BCH and BCH-1FD via deposits and withdrawals on its trading platform. Additional swap channels will be opened on Binance Chain’s partner wallets in the future, the exchange confirmed. As of October 21, 2019,  the BCH/BNB trading pair is supported on Binance DEX.

5,000 BCH-1FD tokens have been issued on Binance Chain, which makes Bitcoin Cash the third BEP-2 token issued by Binance. Before launching this token, Binance introduced a Bitcoin-pegged stablecoin called BTCB, and an XRP-backed token. 

More than 140 token projects have been issued on Binance Chain since its launch six months ago.

Alipay Says It’s Not Servicing Crypto Trades, But is It?

Following a confirmation from CEO Changpeng Zhao (CZ) on Twitter yesterday that the Binance cryptocurrency exchange will soon allow customers to their trading accounts using Alipay and WeChat, Alipay has tweeted to deny Zhao’s announcement, stating:

“NO, you cannot…There’re several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations…If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.”

Cryptocurrency trading is officially banned in China. The ban began in late 2016 with a prohibition on Bitcoin and purchasing volumes fell considerably thereafter.

The ban then progressed to a ban on ICOs (initial coin offerings) in September 2017

This was followed by what were probably government-compelled private company-enforced hits against Chinese crypto media sites, chat groups, and event promoters.

Accordingly, Alipay and WeChat have previously vowed to block all cash transmissions to crypto sites or sellers.

Despite all these measures, crypto purchases by Chinese citizens have strangely persisted.

Many exchanges set up offshore regional branches in Asia even after the ban, and persistent Chinese crypto traders are said to be using VPNs (virtual private networks) and over-the-counter trading services to obscure their trading.

The Block researcher Larry Cermak tweeted today that “multiple (sic) executives at Asian exchanges told me that Alipay and WeChat are both very well aware of P2P OTC trading in China and willingly let it happen. Exchanges have government relationships that tell Alipay/WeChat to turn the blind eye…”

He went on:

“Some large Asian exchanges (won’t be specific) have dedicated unfreezing teams. When Alipay/Wechat freeze an account because of crypto trading, customers can just open a ticket, the exchange will use their government relationships to contact Alipay/Wechat and they unfreeze them…”

The Alipay tweets are a matter of appearances, Cermak contended:

“Alipay is just signaling publicly that this doesn’t happen but to date, they have done virtually nothing about it. And I’d bet they know exactly which customers are trading bitcoin OTC. This ‘ban’ has been in place for more than a year now.”

“Zian Wang” responded to Cermak’s tweets by saying, “buying Bitcoin in china mainland via Alipay or WeChat will lead to your bank account frozen.”

“Bitcoin Theory” referred to supposed surveillance features in WeChat and Alipay:

“Use WeChat or Alipay for buying crypto in China this is like calling the police before committing a crime.”

WeChat and Alipay are Chinese state-supported companies regarded by some as important spokes in China’s plan, now underway, to create an all-seeing surveillance and “social credit” system.

ISO’s Information Security Accreditation Awarded to World’s Largest Cryptocurrency Exchange Binance

Binance, reportedly the world’s largest cryptocurrency exchange by adjusted trading volume, revealed that it has been granted an information security accreditation after adhering to standards outlined by the International Organization for Standardization (ISO).

In order to satisfy the internationally recognized ISO/IEC 27001 standard, Binance’s management noted its operations were audited by Norway-headquartered DNV GL, a globally accredited registrar and classification society, and the UK’s Accreditation Service (UKAS), a national accreditation agency that evaluates companies on several industry standards.

Binance is reportedly the first crypto-related company to have been verified by DNV and UKAS.

As confirmed by the exchange’s official Twitter account:

“Binance has received ISO27001 accreditation, certified by the DNV & UKAS, two world-renowned international accreditation bodies. We are proud to be among the first global crypto-asset platforms to receive ISO27001 accreditation, and the first certified by the DNV & UKAS.”

As part of the extensive auditing process, Binance’s operations were evaluated on 114 different criteria across 14 categories, including asset management, security policy, operational security and information systems.

Binance CEO Changpeng Zhao noted:

“Obtaining the ISO certification is one significant aspect of our security commitment to the industry and our community. We will continue to advance our investment and endeavours in improving cyber security defense.”

The accreditation might help reassure Binance users after it was hacked in May 2019 for more than 7,000 Bitcoins, valued at over $40 million (at that time).

Zhao said at the time that the large scale security breach saw hackers gain access to user API keys, two-factor authentication codes and potentially other information. This allowed the malicious actors to access the exchange’s systems and steal the large amount of cryptocurrency.

Binance’s platform also recently appeared to have suffered from a leak of around 60,000 exchange users’ know-your-customer (KYC) verification information.

World’s Largest Crypto Exchange Binance Invests in Chinese Media Firm Mars Finance

Malta-based Binance, the world’s largest crypto asset exchange by adjusted trading volume, has invested in Mars Finance, a Chinese media and data source company.

Although the exact amount invested has not been shared publicly, the company is valued at $200 million, according to a press release shared with Bloomberg.

Beijing-headquartered Mars Finance has also received investments from Ceyuan Ventures and Matrixport, a financial services firm founded by Jihan Wu, the co-founder of Chinese mining giant Bitmain.

Commenting on his company’s strategic investment, Binance CEO Changpeng Zhao remarked:

“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue … [more] investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”

Mars Finance was founded in 2018 by Chinese tech entrepreneur Wang Feng. The media company has previously conducted two other funding rounds, which were led by IDG Capital and the venture arm of crypto exchange OKCoin and Huobi.

According to its official website, Mars Finance provides market insight reports and owns a venture capital fund, Consensus Labs.

Binance’s latest investment has been made at a time when the exchange operator is preparing to onboard US-based clients.

Last week, Binance.US said it would begin registration and deposits on September 18. The company is also planning to introduce various Binance products across the US markets.

Binance, World’s Largest Crypto Trading Platform, Acquires JEX Derivatives Exchange

Binance, a platform reportedly handling 55% of the world’s crypto trading traffic, has acquired a crypto derivatives platform called JEX, Binance has announced:

“JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market, providing Binance users with professional services including futures contracts, options and other derivative products.”

JEX, its team and its exchange token program (similar to loyalty points) will come under Binance auspices. This may give more traction to JEX tokens, Binance writes, suggesting JEX users might be able to use JEX tokens on Binance and/or Binance users may be able to use “Binance coin” (BNB) on JEX:

“Binance will manage the JEX team and the JEX tokens run by its Foundation, introducing more utility to the JEX token. In a longer term, JEX tokens will be gradually distributed to all users via marketing activities and community incentives; subsequently, the tokens will be gradually retrieved and burned in various forms including trading commission deductions and so on.”

Binance founder Changpeng Zhao became a billionaire less than a year after starting Binance thanks to technical know how and fortuitous timing that coincided with Bitcoin and crypto’s boom of 2017.

Trading volume at crypto exchanges across the board was reportedly down by 50% this summer, and Binance is likely looking for ways to capture more trading revenues.

The JEX website boasts a fairly simple interface and does not indicate in English whether JEX offers leveraged trades.

The website also does not offer an email for press contacts, so comment has been sought at the general email. Any remarks will be appended to this article.

Binance writes that it is pleased it will be selling crypto derivatives through Binance JEX:

“We welcome the JEX team and more partners to join the Binance ecosystem. We look forward to delivering more innovative derivative products in the future with Binance JEX.”

Are You Still HODLing? “CZ Binance” Says Bitcoin Volatility Likely to Increase as More Exchanges Add Margin Trading

Bitcoin’s recent rollercoaster ride, involving multiple thousand-dollar fluctuations between $9000 and $14 000 USD within very short time frames (sometimes less than 2 hours) is being brought about by an increase in leverage available at exchanges, “CZ Binance” told Bloomberg recently.

Changpeng Zhao or “CZ” is the CEO of Binance, possibly the world’s largest cryptocurrency exchange.

Binance was originally based in China, but CZ moved headquarters to Japan and then Malta after Chinese authorities began cracking down on cryptocurrency trading and possession.

CZ was famously featured on the cover of Forbes after becoming a crypto billionaire only 8 months after opening Binance thanks to clever timing and the crypto bull run of 2017.

The most crypto-skeptic parties have been attributing Bitcoin’s 2019 rally to infusions of Tethers, synthetic USDs produced by Tether, a company long suspected of generating more “USDTs” than it really houses in reserve accounts.

The Tether company is closely associated with Bitfinex. Both companies share parent company iFinex, and all three companies are currently under investigation by the New York Attorney General’s Office for alleged fraud.

At the same time as claiming that business has been hobbled by the New York investigation, Bitfinex recently sold a billion $1 LEO tokens to raise money to cover various troubles. The company has also been involved in the issuing of several multi-million USD  “IEOs” (initial exchange offering coins) through a new platform called Tokinex, and recently began offering 100x leveraged crypto trades.

Kraken crypto-exchange CEO Jessie Powell, told TD Ameritrade last week that real money, not just USDTs, was pouring into crypto exchanges, not just controversial tethers.

Powell did not say whether the money was coming from retail or institutions, but he did say that media reports were playing a part in recent price rises.

For a long time, crypto fans have been awaiting the hallowed arrival of “institutional money” and the legitimacy and price run-ups they hope will result.

But CZ says institutions are not behind the recent surge:

“We have not seen institutions growing faster…What we’ve seen is pickup in both places (institutional and retail)…The number of institutions coming into this industry has not increased that tremendously in 2019 yet.”

CZ said that retail investors still furnish about 60% of the business on Binance, and that the percentage is the same as last year.

Price rises (and falls) rather, he said, are being fuelled by leverage becoming more available.
Hong Kong-based BitMEX has been offering up to 100x (collateralized) leveraged Bitcoin trades for years.

Binance has recently done the same, but only 3x.

BitMEX has been criticized for allowing amateur traders, who have been characterized as sitting ducks for whales, to use high leverage.

CZ, on the other hand, called the use of leverage “quite safe,” and said a big increase in leveraged trading should be expected as well as resulting volatility.

“I would say the majority of people by the end of the year will be using margin in some capacity…It’s quite safe to use, to be honest. There will be more trading volume and potentially higher volatility.”

In a recent debate, NYU professor Nouriel Roubini called BitMEX CEO Arthur Hayes, “…a thug that is a public danger to thousands of small clueless investors who have lost their shirt because of his scam.”

Roubini added that BitMEX, “should be prosecuted for fraud and banned fully.”

Hayes rebutted,

“Due to a lack of analytical rigor behind his criticisms of Bitcoin, Roubini attempted to focus the debate on the business practices of BitMEX…BitMEX provides safe, fast, and liquid ways for those who see the potential of crypto to trade and hedge cryptocurrency vs. fiat risk…He increases his publicity by being hyper-critical of Bitcoin regardless of the actual facts. And that is why the media trots him out whenever they need someone to bash Bitcoin and the cryptocurrency industry.”

Binance Blocks US Customers, Opens Dedicated US Trading Platform

One day after announcing the creation of a dedicated cryptocurrency trading platform for US customers, Binance, the world’s largest cryptocurrency exchange by volume, has modified its terms of service to exclude “any U.S. person.”

The change comes under the subheading “Prohibition of Use” in the terms:

“By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List”. Binance is unable to provide services to any U.S. person. Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion (emphasis added).”

Binance also announced in a blog post early on May 14th that, “As part of our continuing compliance efforts,” it may be requiring some users, “…to furnish evidence showing that their account registrations are consistent with Binance’s Terms of Use….”

As of 2019/09/12, users found to have violated Binance’s terms will be blocked from trading but will still have access to their wallets.

According to The Block, persistent “non-verified” traders in the US may be able to continue trading on Binance’s main platform if they use a VPN (virtual private network) to block their IP addresses.

The same outlet writes that, currently 15% of Binance’s customers originate in the United States.

Binance says it has partnered with BAM Trading Services Inc., “…to launch Binance.US, acknowledged by its recently approved FinCEN registration on June 11, 2019.”

Regarding the new platform, Binance CEO Changpeng “CZ” Zhao states,“Binance.US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance.”

Binance says Binance US will, “…focus on the trading of mainstream cryptocurrencies with liquidity.”

This comment suggests that many of the 150 smaller crypto tokens available on Binance’s main platform will not be offered on the US portal, possibly because of US regulator’s skepticism towards ICOs (initial coin offerings). That combined with the fear of inciting an enforcement action by the Securities and Exchange Commission.

At a recent event at the SEC Fintech Forum held in Washington, DC, Brett Redfearn, Director of Trading and Markets at the SEC, said that online trading platforms located off-shore that offer securities services to persons in the United States, or solicit US investors to engage in primary or secondary trading of securities, also must register in the US. Redfearn said these exchanges must take “reasonable” steps to assure US persons do not utilize their services – unless they are registered as an exchange.

Similar changes have been cascading across numerous other global platforms for the trading of cryptocurrencies.

Bittrex announced last week that would be blocking its US customers from trading the following 32 “small cap” crypto tokens:

ADT CMCT GO MFT QRL XEL
AMP DNT GTO MOBI QTUM XNK
BAY DTA HYDRO NLC2 RFR
BCPT ENG IHT NMR STORJ
BLOCK FCT ION PRO STORM
BOXX FLDC LBA PTOY SWT

Bittrex recently engaged in a war of words with regulators in New York after it was denied a BitLicense in the state.

Poloniex, BitMEX, and Bitfinex have also blocked US customers within the past year.

Binance CEO Apologizes for Suggesting “Re-Org” of Bitcoin in Wake of $44 Million Hack

Changpeng Zhao, CEO of Binance, one of the world’s largest cryptocurrency trading platforms, has issued a blog post stating the business is working hard to tighten security after hackers stole 7070 Bitcoins (worth ~$44 million USD) from an exchange hot wallet earlier this week.

Zhao writes that Binance is working with, “a dozen or so industry-leading security expert teams to help improve our security as well as track down the hackers…” and is also, “working closely with many exchanges and other service providers to freeze the stolen funds.”

He describes security updates in general terms because “…hackers are reading every word we post and watching every AMA we host.”

Security improvements are described as follows:

“We are making significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident. We are improving our risk management, user behavior analysis, and KYC procedures. We are working on more innovative ways to fight phishing. We also have a number of additional security measures being implemented not directly visible on the front end.”

Zhao also briefly apologizes for suggesting Bitcoin miners could be incentivized to “re-org” Bitcoin software to recover the stolen funds as a bounty:

“Given how much I talk, I sometimes say the wrong stuff, dirty words like “reorg”, for which I apologize.”

A rollback or “re-org” of Bitcoin’s transaction records is a notion anathema to fans of the protocol, who prize the network’s immutability.

Immutability (permanence of records on the blockchain) is the reason Bitcoin uses the electricity-guzzling system called “proof-of-work” to encrypt records.

That Zhao would even consider a re-org is bizarre. It not only suggests that he may believe that a certain cadre of miners possess the monopoly necessary to do so, but also affronts the “public blockchain” ethos of bitcoin to favour Zhao’s own private interests.

All those implications proved deeply concerning to Bitcoiners, who also prize “decentralization,” the concept that no single party controls Bitcoin.  Twitter and other forums lit up in protest and disgust after Zhao expressed the idea.

Another key notion in Bitcoin and crypto circles is that of “being one’s own bank” and controlling one’s own private keys. This requires storing bitcoins offline in “a hardware wallet,” essentially a souped-up thumb drive. Storing bitcoins on an exchange is rightly considered a security risk given numerous hacks.

Zhao addresses the “no keys, no crypto” social trend in the blog post as follows:

“We will be adding hardware device support, such as YubiKey and other devices, very soon. We will run an event and give away 1,000 YubiKeys as soon as that feature is implemented.”

Zhao says withdrawals and deposits on Binance will “tentatively” resume early next week.

Digital Challenger Bank Founders Bank Hires Former Senior Deutsche Bank Exec as CEO

The Founders Bank has appointed Kenan Altunis as Chief Executive Officer. Altunis was most recently Global Co-Head of the Institutional Client Group within Deutsche Bank’s Corporate and Investment Bank where he was responsible for a multibillion-dollar revenue operation and a team of over 1000 people.

Altunis is said to have worked directly with the world’s largest institutional investors and regulatory bodies, and was a member of its Executive Committee, reporting directly to the Deputy CEO of the bank.

Altunis will begin as CEO of Founders Bank upon cessation of his Deutsche Bank commitments in early June 2019.

Based in Malta, the Founders Bank is described as a “corporate challenger bank servicing the tech industry.” This includes blockchain and other emerging technologies. Founders Bank is not yet licensed but is reportedly in the process of obtaining a full EU banking license under the regulation of the MFSA and the European Central Bank

World’s largest crypto exchange Binance is an investor in Founders Bank. In a statement in 2018, Binance said Founders Bank will become the “first stable and high tech banking solution not only focused on founders, but also owned by them, bridging the gap between traditional financial world and innovative crypto companies.”

The current team at Founders Bank is said to contain a diverse group of executives with extensive finance experience including tenures at firms like Barclays, HSBC, Citibank, Bank of America, Royal Bank of Canada, Brevan Howard, KPMG, Mastercard, Amazon, Paypal, and Bitpesa.

Founders bank wants to redefine banking services for the enterprise customer.

Altunis commented on his appointment saying he was excited to migrate from traditional banking to creating a world class challenger bank.

“We will focus on servicing technology companies who find accessing and using existing financial services difficult and cumbersome. These will include companies in emerging technologies, such as blockchain and crypto,” said Altunis.

Changpeng Zhao (‘CZ’), CEO of Binance, commented

“As one of the lead investors of the Founders Bank project, we are committed to developing the ecosystem and supporting infrastructure cornerstones to facilitate growth across the broader industry.”

 

Sacrilege: Binance CEO Suggests Miners Could Roll Back Bitcoin Chain to Recover Hacked $41 Million and Keep Proceeds as Bounty

Changpeng Zhao, CEO and founder of Binance, the world’s largest cryptocurrency exchange, stirred controversy this week when he suggested that colluding Bitcoin miners could “roll-back” Bitcoin’s data records and recover $41 million USD in bitcoins hacked from Binance this week.
Zhao made the comments in a video and tweets. In the video, he suggests miners that collaborate on the roll back could keep the proceeds.

In the video, Zhao states that he had slept little in the preceding 29 hours because he’d been working continuously with Binance engineers to mitigate the hack.

The 7070 Bitcoins removed by hackers were taken from a Binance hot wallet (‘pool’ of crypto accessible online).

Binance says the stolen coins account for only 2% of the exchange’s holdings, and that the loss will be covered from Binance’s “SAFU” insurance fund.

The notion that Bitcoin records are “immutable” is one of the most important to crypto shibboleths.

Bitcoin’s code automatically settles all transactions without prejudice. “Code is law” is a popular adage, and rolling back or modifying settled transaction records is a costly proposition that Bitcoin advocates like to believe is impossible or very difficult.

That Zhao would call on a group of miners to collude on the rollback suggests that he does not really regard the Bitcoin network as “decentralized.”

This is a frightening notion to fans of the system because if Bitcoin is in fact under the sway of a certain group of miners, then the chain is not really secure, and people’s coins can be stolen or “double spent”(duplicated).

Binance is now based in Malta, part of the EU, but was founded in China. Many people have long worried about whether or not Chinese miners have a significant –and security-compromising– monopoly over the network. Some reports indicate that geographically Chinese or Chinese-owned mines have been in a monopoly position over the network for some time.

Zhao’s comments also offend Bitcoiners because they suggest that key features of the “public”  network’s protocol should be overridden for the benefit of a powerful private business.

Cryptocurrency writer, speaker and consultant Andreas Antonopoulos equated the notion of a rollback with bailing out an irresponsible bank:

The end of the Antonopoulos tweet also refers to another cherished notion in Bitcoin- that storing Bitcoins with 3rd parties puts one’s coins at risk.

Bitcoiners like Antonopoulos have advocated “being one’s own bank” rather than allowing an exchange to house one’s funds, where they may be vulnerable.

Hacks of cryptocurrency exchanges are not uncommon. Billions have been stolen from exchanges and from individuals’ hot wallets since Bitcoin software began circulating in 2010.

A hack on an exchange can badly affect its credibility.

Until recently, Binance was one of a handful of exchanges that had not yet been hacked and which was generally regarded to be reporting trading volumes accurately.

Within a day, Zhao retracted his roll-back suggestion:

As Promised: Binance Opens Fiat-to-Crypto Exchange Platform in Uganda

Binance, the world’s largest cryptocurrency exchange by volume, announced this morning that it has begun accepting registrations at its Binance Uganda exchange.

“Users are now able to complete full account verification in the User Center after logging in,” says a company announcement regarding the launch.

If all goes well, verified users will then be able to deposit Ugandan shillings to start trading Bitcoin (BTC) and Ethereum (ETH) on October 17th.

Binance CEO and founder, Changpeng Zhao (CZ), told Cointelegraph in  in June that the move, “shows Binance is not just into chasing the most developed markets,” but said his interest in the region was at least partly philanthropic:

“We think that crypto has a very strong use case in less developed countries… there’s more money to be made in a more developed country, but we want to distribute crypto to the rest of the world.”

CZ nonetheless acknowledged that Uganda is “progressing really fast” because of what he considers to be proper moves by local businesses and government. CZ told Cointelegraph:

“Uganda [is a] really interesting situation, only 11 percent of the population has bank accounts. It’s both a challenge and an opportunity. So it may be easier to adopt cryptocurrency as a form of currency instead of trying to push for bank adoption. It’s an interesting experiment – Africa’s a big market, that’s why we’re there.”

The Ugandan exchange will reportedly be, “the first time Binance has touched fiat,” but not the last.

The company also has plans to do a fiat-to-crypto platform in Lichtenstein where interested traders will be able to upload Swiss francs (CHF) and euros (EUR) and trade them for, “major digital currencies pairs.”

Binance has also announced it is testing a similar fiat-friendly platform in Singapore, though no dates for a public launch of either platform has yet been announced.

According to the Library of Congress, cryptocurrencies are presently unregulated in Uganda.

CEO of Crypto Exchange Binance Denies He Asked $2.5 Million to List Coin; Accuser Calls Him “Liar”

The CEO of one of the world’s fastest-growing cryptocurrency exchanges, Binance, has shot back against an accuser on Twitter who claimed last week that Binance asked for 400 bitcoins (worth about $2.5 million USD) to list a small coin on the exchange.

The accusations were brought by Christopher Franko, purveyor of a forked version of the Ethereum blockchain and its associated token, ‘Expanse.’

Binance CEO Changpeng Zhao (CZ) gave something of a mixed message and did not deny the accusation outright in his first response on Twitter.

Instead, he characterised Franko’s coin as “a shitcoin,” a popular epithet traditionally aimed by Bitcoin Maximalists at all other cryptographic coins but now evidently being picked up by fans of certain altcoins and not others:

CZ then reiterated his company’s previous claim that the email asking for the 400 bitcoin fee was an inauthentic “spoof” email, and questioned Franko’s technical abilities:

CZ then added: “Question is not ‘how much does Binance charge to list?’ but ‘is my coin good enough?’ It’s not the fee, it’s your project! Focus on your own project!”

Franko countered unequivocally…

Frankd then provided additional supposed indications of the email’s provenance, and questioned the Binance CEO’s manners generally:

Notably, to our knowledge as of press time, the email in question has not been displayed on social media.

Binance Seeks to Boost Blockchain Education with New Academy

Binance, one of the largest cryptocurrency exchanges in operation, has launched the Binance Academy to further education about crypto and blockchain. The service is said to provide “free resources to the next generation of blockchain enthusiasts.” The academy is an open-access platform that “will tackle the challenge of the currently fragmented blockchain and crypto knowledge.” Binance Academy is described as the latest pillar in its ecosystem from the exchange, as Binance strives to become a global hub for all things crypto.

Binance Academy will cover a wide range of basic and advanced topics comprising everything from blockchain and its applications to cryptocurrencies and security best practices.

“Binance Academy’s mission is to proliferate knowledge about the power of blockchain and cryptocurrencies,” commented Binance CEO Changpeng Zhao. “By offering comprehensive and easily accessible educational content to onboard the world, one video view and one article read at a time. We have taken great care in adopting a platform that is open for both consumers and producers of contents.  Users are free to suggest new topics they would like to learn about and also submit their work for review and sharing alongside Binance produced contents on Academy.”

Zhao added that the building blocks of the blockchain revolution is knowledge and given their global reach, they have a responsibility to propagate blockchain and crypto information.

“We aim to provide universal accessibility, comprehensiveness, and easy to use online learning experience with Binance Academy.”

Binance said the curriculum at Binance Academy will be continuously adapted and expanded to reflect real-world scenarios and strategies.

Besides Binance Academy’s in-house content, submissions of community content are welcomed and the company will actively encourage feedback from readers around the world.

Neufund Said to Become First End to End Primary Issuance Platform for Security Tokens in Partnership with Binance & Malta Stock Exchange

Germany base Neufund has announced an extended partnership with Binance and the Malta Stock Exchange that is predicted to become the first “end to end primary issuance platform” for security tokens. The partnership will enable the issuance and secondary trading of blockchain based securities while providing liquidity for Neufund’s first batch of issuers which include; Founders Bank, Brille24, Uniti, MySwooop, Next Big Thing, Blockstate and Emflux Motors. Each of these companies intends on issuing equity tokens on the exchange.

The Chairman of the Malta Stock Exchange Joseph Portelli said they were delighted with the agreement and welcomed Neufund as their “key partner” in building a blockchain based exchange.

The pilot project will occur at some point this year with tokens issued on Neufund and then tradining on Binance and other exchanges – pending regulatory and listing approvals.

The arrangement is being described as another step forward in Malta’s goal of becoming a leading jurisdiction for blockchain innovation. Malta has recently enacted three separate pieces of legislation designed to create a compliant environment for initial coin offerings in Malta which is part of the EU.

The Malta Stock Exchange has recently announced an accelerator program that will focus solely on distributed ledger technology. The accelerator received financial backing from Binance.

Zoe Adamovicz, CEO and co-founder at Neufund who is a vocal proponent of securities on blockchain, released a statement on the new partnership;

“We are thrilled to announce the partnerships with Malta Stock Exchange and Binance, that will ensure high liquidity to equity tokens issued on Neufund. It is the first time in history, that security tokens can be offered and traded in a legally binding way. The upcoming pilot project will allow us to test the market’s reaction and realize the overall project idea in an environment with minimized risk.”

Changpeng Zhao, CEO of Binance – one of the largest cryptocurrency exchanges in the world, added;

“We are glad to partner with Neufund over the pioneering idea to create a complete ecosystem for issuing and trading securities on Blockchain. Today’s announcement marks a new chapter for Binance’s development, with the goal to tokenize traditional financial assets.”

There are multiple platforms that are seeking to accomplish a similar ambition to the Neufund/Binance/Malta Stock Exchange arrangement but regulatory hurdles have become persistent barriers for many of these platforms. Conceptually, most financial industry experts envision all securities to eventually trade on a DLT platform with smart contracts handling some of the back office type processes.

This coming fall, Malta will be hosting the Delta Summit to highlight their accomplishments in their ambition to be known as #BlockchainIsland.

 

 

Binance Invests in Malta based Founders Bank, Plans Equity Token Offering on Neufund Under German Law. Will Partner with “Major Stock Exchange”

Binance, one of largest cryptocurrency exchanges in the world, has announced an investment in Founders Bank based in Malta. Several months back, Binance famously migrated operations from Asia to Malta – an important coup for the “blockchain island.” Malta has enacted legislation designed to encourage blockchain innovation – under EU law. The DLT / blockchain bills approved by the Malta’s Parliament on the 4th of July cleared many of the uncertainties surrounding the market for decentralized assets, while also establishing direct communications with blockchain leaders. In much of the world, regulators and policy makers continue to struggle with a legal approach for digital assets.

“We are not only excited to be one of the first investors of this inclusive community for this pioneering initiative, but also look forward to explore the full range of its banking services.  We continue to be delighted by the vibrant blockchain opportunities in Malta, and look forward to launching more partnerships in the region.”  says Changpeng Zhao, Founder & CEO at Binance.

In March of this year, Zhao predicted a “banking partnership there soon [as] Malta is very progressive when it comes to crypto and Fintech.”

Binance said it intends to create a full stack blockchain ecosystem with the investment. While many Fintech prognosticators are predicting a future of finance powered by distributed ledger technology – Binance, and its partners, are moving rapidly to execute on this vision.

Binance stated;

“Founders Bank will become the first stable and high tech banking solution not only focused on founders, but also owned by them, bridging the gap between traditional financial world and innovative crypto companies.”

Founders Bank is now awaiting a banking license.

[easy-tweet tweet=”Founders Bank will become the first stable and high tech banking solution not only focused on founders, but also owned by them, bridging the gap between traditional financial world and innovative crypto companies’ #Blockchain #BlockchainIsland” template=”light”]

Interestingly, Binance said it intends on issuing a security token on Neufund – a Germany based Fintech that is listing security tokens. Last month, Neufund announced the first companies listing their security tokens on the platform – a European first. Neufund has also established an outpost in Malta but maintains a German headquarters. Neufund raised over $11 million from big name investors in 2017.

Binance said the Founders Bank investment is the first step in issuing equity tokens on Neufund compliant under German securities law incorporating a governance model based on smart contracts. Simultaneously, Binance and Neufund are expected to partner with “one of Europe’s major stock exchanges” later in the year. While no names have been mentioned, recently the company that operates the Swiss Stock Exchange announced its intent to launch a Digital Assets exchange.

Founders Bank is predicted to become the “first decentralized and community-owned bank in the world.” While there have been other attempts similar to Founders Bank, none have yet been fully licensed by authorities. Binance believes Founders Bank represents the future of the banking industry – a sector of finance that has been going through dramatic changes in the Fintech era.

The supervisory board and management includes some interesting names. Michael Bianchi is serving as Chairman of the Board. Additionally, Dr Abdalla Kablan, Martin Bruncko, André Eggert, Pavel Bodark, Sonal Kadchha, Paula Pandolfino and Jonathon Gowen are joining in the initiative.

Bianchi said that Founders Bank is the missing piece for Malta and its aspirations to become a center of excellence for blockchain innovation. By enabling progressive banking solutions, Malta is further setting its jurisdiction apart.

Silvio Schembri, Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister of Malta – the leading advocate on Malta for pursuing an innovation economy build on blockchain – said that Malta has proven itself once again as the destination of choice for Fintech development.

“We welcome Founders Bank with the utmost excitement and hope that their Fintech solutions will attract even more world-class companies to our #BlockchainIsland. We are honoured to be chosen as the location of the first global community-owned bank that cares so deeply about transparency and regulation,” stated Schembri.

[easy-tweet tweet=”Founders #Bank is predicted to become the ‘first decentralized and community-owned bank in the world’ #Blockchain #Fintech #BlockchainIsland” template=”light”]

Largest Cryptocurrency Exchange in the World: Binance Claims Top Spot as $2.8 Billion Traded in Just days

Cryptocurrency exchange Binance has claimed the top spot in regards to trading volume in digital currencies. According to Binance, the crypto exchange is now the largest in world having fulfilled trading volume of $2.8 billion since Tuesday. The milestone  takes place just 5 months after platform launch and is indicative of the rapid rise in demand as more investors jump into the cryptocurrency arena. The Japan based company recently stated they had now reached 2.9 million users on their platform since their launch in July of 2017. While some exchanges are struggling to execute transactions with several closing exchanges to new traders, Binance appears to be better equipped to handle the volume.

[clickToTweet tweet=”This crypto exchange is now the largest in world having trading volume of $2.8 billion since Tuesday @binance_2017″ quote=”This crypto exchange is now the largest in world having trading volume of $2.8 billion since Tuesday @binance_2017″]

Changpeng Zhao, founder and CEO of Binance, said they were humbled by reaching the milestone;

“Our focus has always been and will continue to be providing our users with the most secure, fast, and efficient way to exchange digital assets.”

Created in July of 2017, the company has grown exponentially to over 2.9 million users around the globe and supports trading in multiple languages including English, Japanese, Chinese, Korean, Russian, Spanish, French and German.

Binance says its growth can be partly attributed to development programs and services that are unique in the cryptocurrency exchange community, namely a new token sale vetting program called Binance Launchpad.  Since being announced earlier this month, two of the biggest recent token sales have run on the platform and sold out in a matter of seconds.

GIFTO, launched by Uplive, sold $3 million in their tokens exclusively to Binance users through Binance Launchpad in a matter of seconds, helping the company become one of the fastest and most successful token sales ever in Asia. This was followed by Bread, a decentralized banking application, that similarly sold over $3.5 million in tokens in a matter of seconds to Binance users.

Binance provides cryptocurrency trading for Fintech and Blockchain enthusiasts globally by offering near instant exchanging between 96 different digital assets as well as Bitcoin, Ethereum, BNB (the native Binance token), and USDT.  Binance Exchange supports multiple platforms and compatibility across devices, including Web, Android/IOS, Mobile HTML5 and Windows/Mac clients in order to fulfill trading requirements for all users. Binance says its matching engine is capable of sustaining 1.4 million orders per second, as well as 20 million simultaneous users on the platform.

The company also attributes their growth to their loyal user base and focus on speed, security and technology. Binance says it has also developed a ‘Binance Angel Program’, with Angels located in over 30 countries around the world who are a passionate group dedicated to help ‘Binancians’ and foster awareness of Binance on a global scale.

 

Hong Kong’s Monaco Expands Strategic Cooperation Agreement With Binance

Hong Kong’s payments and cryptocurrency platform Monaco announced on Tuesday an expansion of its strategic cooperation with Binance, where Monaco’s MCO token was listed this past summer. The company revealed that under this partnership expansion it will include support for Binance’s BNB token to its platform which includes the Monaco Visa Card and Monaco mobile app. Binance will also add the MCO/BNB trading pair to its exchange.

Kris Marszalek, Co-Founder and CEO of Monaco, stated:

“Since the successful listing of our token in August, our team has worked very closely with Binance to extend and deepen this partnership. Today’s announcement is the first step in this direction. The Binance platform has been growing by leaps and bounds and we are delighted to have their support as we continue to pursue our vision of bringing cryptocurrency to every wallet.”

Changpeng Zhao, CEO of Binance, also commented:

“We are supportive of Monaco’s goal to expand the ecosystem and drive cryptocurrency adoption globally. Mutual support for our tokens is an important first step as we continue to explore ways to broaden our integration.”

Monaco then added that to celebrate the expansion of this partnership, Binance will host an MCO trading promotion.

 

QUOINE Forms New Strategic Partnerships With Binance, ZB.com, & BW.com

Global fintech firm QUOINE announced on Friday it has formed strategic partnerships with Japanese cryptocurrency exchange Binance, cryptocurrency wallet ZB.com, and mining platform BW.com. The collaboration announcements come just after QUOINE formed a partnership with Blockwave to expand cryptocurrency exchange services in Canada. 

QUOINE revealed that Binance will be able to provide improved liquidity for the platform as well as access to a large selection of altcoins. Binance CEO, Changpeng Zhao, stated:

“We have been in constant communication with QUOINE and believe they have a professional team with abundant experience in banking and finance. It did not take us long to decide on having a strategic partnership with them, and we believe together we can provide global traders with a more comprehensive range of services. We hope that in the future, Binance will be able to enter into further collaborations with other exchanges for similar fiat-crypto co-operations.”

Mike Kayamori, CEO and Co-founder of QUOINE, shared:

“Binance and QUOINE are market leaders for global cryptocurrency trading platforms and our volumes make both Binance and QUOINE among the largest cryptocurrency exchanges globally. We are proud to share an aligned strategic vision with Binance to build globalized, liquid markets for the crypto economy.”

The fintech company also explained that its partnership with ZB.com and BW.com will create a borderless liquidity pool through QUOINE LIQUID, a global trading platform backed by QASH. QASH is the native currency of QUOINE LIQUID, and can be used to transact at lower rates. BW.com representative then explained:

“As a major mining force in the crypto industry, we need solutions for our daily inventory. The partnership will create a borderless liquidity pool through QUOINE LIQUID, a global trading platform backed by QASH. QASH is the native currency of QUOINE LIQUID, and can be used to transact at lower rates. BW.com will support the development of QUOINE LIQUID through sourcing the two-way demands on our own inventory. As a miner, we believe liquidity platforms such as QUOINE LIQUID will reinforce the crypto community with rich fluidity.”

Kayamori added:

 “Building global liquidity requires substantial industry support from various players in the cryptocurrency markets. We highly support all mining solutions that BW is developing and believe they will enhance global liquidity for all cryptocurrencies.”