XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account

XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account

XRP data compiler, XRPL Monitor has recently been active on Twitter with updates regarding XRP token moves across different wallets. This seems to have occurred with other cryptocurrencies including Bitcoin [BTC] and Ethereum [ETH] as well, however, it’s the XRP token amounts that have had a shocking effect.

As per AMB Crypto’s reporting, on Tuesday, May 28, 2019, some 10 million XRP tokens have since been moved to a Coinbase Pro Account with as little as 20 drops, which is equivalent to 0.00002 XRP.

The news outlet further noted that the account in which said amounts originally belonged to, had an address of rH51tppA1cF5J75GS6MqaJhJQFm2PPXG2. Many crypto fanatics seem to have also expressed concern in said moves. Particularly, AMB Crypto referenced George Leithead, who was surprised to see a balance of 0, considering that there should be, “a minimum for all wallets (more for multi signature wallets).”

However, another XRP fanatic resolved the aforementioned concern by sharing the following:

“A wallet can go below the reserve if it’s the tx fee that takes it below that threshold. The account is still active in the sense other accounts interact, but it is no longer able to make txs itself until it is funded back over that reserve.”

At the time of writing, CoinMarketCap show XRP’s current value as being USD$0.445682 with a volume of USD$2,667,654,313.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Nirmala Velupillai

Whale Panda Calls Out Kin Foundation For Its “Defend Crypto” Movement as Others Chime In

Whale Panda Calls Out Kin Foundation For Its “Defend Crypto” Movement as Others Chime In

It is no secret to all that know the crypto world that some companies are struggling a lot to defend their businesses after they started to be chased by regulators. In the United States, a very important battle is being fought by several companies and the U. S. Securities and Exchange Commission (SEC).

However, not all the companies battling the SEC in order to keep its products alive are being very well received by the community. For instance, the Kin Foundation, which is behind the Kik app, has started a movement in order to fight the SEC and “defend crypto”. This movement has been very criticized lately.

Kin, the crypto services created by Kik, had an unregistered Initial Coin Offering (ICO) back in 2017 in which the company was able to raise $100 million USD, quite a high amount. After that, the SEC went to the company to sue it for offering unregistered securities. While some have defended the company, Whale Panda, a very prominent crypto influencer called them out.

According to Whale Panda, these movements to “defend crypto” are not legitimate. The company did a very shady ICO which was obviously a security token and they got caught by the SEC. Since then, negotiations are not pretty. Now, he affirmed, the company is set to use other shady ICOs to pressure the SEC.

He also affirmed that the allegation of Ted Livingston that more people were using Kin than any other crypto in the world was actually fake and people made fun of the company’s defensor online after that.

An attorney named Josh Lawler also voiced his opinion today and affirmed that the SEC will end up losing the case even if they win. According to him, the SEC exists only to protect “main street” investors. If the SEC winds against Kik, they will hurt the investors that they are trying to protect in the first place.

Circle, however, tweeted announcing some vague support for the so-called movement. The company affirmed that it was with the Kin Foundation because they struggled to make cryptos flourish in the United States like many other companies in the industry.

Most of the personalities on Crypto Twitter were not so generous, though. Jeremy Rubin, Riccardo Spagni and others affirmed that they did not sympathize with the movement at all.

Rubin even tweeted a “hot take”, in which he affirmed that the whole “defend crypto” movement was very sickening because cryptos were not under attack, only shady business practices. Kin was probably a security token in his view, so it made sense that the SEC decided to reject it.

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Author: Gabriel M

ABN AMRO Clearing Bank, BUX Partner to Work on Blockchain Investment Trading App STOCKS

ABN AMRO Clearing Bank, BUX Partner to Work on Blockchain Investment Trading App STOCKS
  • ABM AMRO Clearing signs a new partnership with the mobile investment platform BUX
  • The new commission-free stock trading mobile app is expected to be released this summer

ABM AMRO Clearing, a global securities services provider, has signed a new partnership with the mobile investment platform BUX to create a commission-free stock trading mobile application. The information was released by BUX in a press release on May 29.

ABN AMRO Clearing Signs Partnership With BUX

As per the news release, ABN AMRO Clearing is one of the top three clearer for derivatives and cash securities, OTC products, commodities and other asset classes in different time zones. Indeed, the company was able to process 3.79 billion trades just in 2018 alone.

The new application is going to be called STOCS and it is expected to be launched as soon as in summer 2019. The goal is to reach the the whole European Continent and start rolling it out in the Netherlands, followed by Germany and then the rest of Europe.

The funds that clients will deposit on the platform are going to be held by ABN AMRO Clearing in a specific individual blockchain bank account. This bank account leverages the proprietary Banking-as-a-Service platform, which will allow ABN AMRO Clearing to operate as a bank.

At the same time, ABN AMRO Clearing will also provide STOCKS with a solution called Smart Order Routing that will allow clients to buy and sell orders on the platform.

According to a BUX spokesperson, the new solution is expected to work in a similar way to a bank account. However, instead of using escrow accounts, the funds will be administered in the blockchain network.

Moreover, ABN AMRO has also launched a blockchain inventory tracking platform that is used to leverage the Internet of Things (IoT) technology.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

New Digital Fiat Currency System in Development by the Central Bank of the Bahamas (CBOB)

New Digital Fiat Currency System in Development by the Central Bank of the Bahamas (CBOB)
  • New payment system for digital assets to be introduced by Central Bank of the Bahamas.
  • The initiative, Project Sand Dollar, includes a collaboration between Zynesis and NZIA.io.

The Bahamas is known as a place of luxury to tourists, and a recent announcement from the Nassau Guardian indicates that the Central Bank of the Bahamas is making the environment more friendly. Reported on May 29th, the CBOB will be starting the development of a digital fiat currency system, starting with an official agreement with NZIA.io.

The bank and the transaction provider, respectively, will be responsible for creating and implementing “Project Sand Dollar,” which will be the first time a digital currency has been created in the Bahamas. The collaboration with NZIA.io was first announced in March by the central bank, joining the Zynesis software development firm in the project.

As described by the central bank, Project Sand Dollar will be working on an electronic payment system for “integrated, affordable” remittance, which will be geared towards the local businesses and residents. To be integrated seamlessly into the current financial infrastructure, the team behind the project will ensure that this payment system falls in line with the local financial regulations.

All residents of the island country will now have equal access to digital payments, which reduces the service delivery costs associated with performing transactions with cash.

At this point, there has not been an island selected to pilot the new payment system. However, John Rolle, the bank governor, said that the Family Islands should be ready to completely adopt the initiative by the end of next year. The original plan to bring in a digital currency with government support was announced by CBOB in June last year.

Not all countries are taking such a progressive stance. In fact, the president of Deutsche Bundesbank in Germany warned banks that the volatility of the crypto market could put central banks at risk in the country. The official added that the integration of crypto assets could also create instability of the financial system, specifically in crisis situations.

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Author: Krystle M

Participating in the IEO of CMA project on IDAX (www.idax.pro) is an amazing investment opportunity that you cannot miss.

CMA project is building an Ecosystem for New Era of Decentralized Marketplaces.

CryptoMarketAds.com is the first fundamental product. It is a new marketplace which solves all crypto advertising and marketing problems by connecting crypto market publishers (influencers, social media, marketing companies, etc.) and advertisers (crypto companies) in one place (marketplace is working already and got over 600+ offers for sale just in 7 weeks after the launch). Also, this will help crypto companies to promote their decentralized marketplaces which they will build using other CMA products.

To create a decentralized ecosystem for marketplaces CMA project will develop additional new products: new blockchain for marketplaces (“internet of goods and services”to let any marketplace place their business on the blockchain), ICO platform for marketplaces (to let new/old marketplaces get funding), the visual drag & drop marketplace builder (to let anyone build their own decentralized marketplace).

CMA is also world’s first IEO decentralized marketplace ecosystem project. The IEO will be held on IDAX and at least 6 leading exchanges gradually and upon completion will make a listing on at least 8 exchanges.

Because of the simple and secure IEO on IDAX, you can participate conveniently after registration.

On June 5th, 13:00 (UTC+8) IDAX will provide CMA (CryptoMarketAds) token through an Initial Exchange Offering. With special conditions for participated users: up to 28% bonuses during the first round.

The CMA project is making available total 160,288,000 CMA (CryptoMarketAds) tokens to IDAX users in the IEO.

Official announcement: https://idax.zendesk.com/hc/zh-cn/articles/360028837471-IDAX-Foundation-new-project-CMA

About IDAX (www.idax.pro)

IDAX is an international exchange platform originating from GBC (Global Blockchain Research Centre). IDAX was founded in 2017, within several month, it gained to be in Top 10 exchanges of CMC rank. IDAX provides users from all around the world with convenient, safe and fast digital cryptocurrency transaction service.

After launching Foundation in January 2019, IDAX has raised over $10 million among private investors and is now offering IDAX users the opportunity to support the BTD project by purchasing BTD (BitDisk) tokens.

In the past year, many blockchain projects staged so-called public sales of tokens without a concurrent listing on a public exchange, increasing the likelihood of fraud and security problems. As one of the world’s leading exchanges, IDAX values every user and uses various ways to create investment value for users, such as selecting outstanding projects and help users participate in project IEO, maintaining our relationship with users from a long term perspective.

About CMA (https://www.cryptomarketads.com)

Based on trillions of market value of global marketplaces, CMA welcomes worldwide marketplaces and users who can become a CMA blockchain nodes by staking CMA coins in near future. Working together with all nodes of the whole network, CMA will form specialized blockchain only for marketplaces, to ensure high amount of transactions verification, characterized by globally-distributed, always-on, never powered-off, remote disaster tolerant, secure and infinite scalable capacity.

CMA project helps any marketplace, starting with small local marketplace till big one such as aliexpress.com to put their business on CMA blockchain. At the same time, the nodes will get corresponding CMA coins according to its comprehensive contributions to the stable operation of the whole network. CMA incentive point represents the total transactions of the whole network. The total amount of CMA is limited and a part of CMA will be destroyed during the operation process, therefore, it possesses powerful and inherent value growth impetus.

Anyone and anywhere in the world will build their own marketplaces using this easy visual tool – visual decentralized marketplace builder. Starting from work at home moms till big companies.

After building their own marketplace, people will fundraise money using CMA coin for the new marketplace marketing and operations – ICO platform for marketplaces.

For crypto advertising and marketing people will be using CryptoMarketAds.com marketplace to fundraise funds for their new marketplace and get new users. Marketplace publishers will lock-up up to 5 million coins to get 50% discount on Fees. (1000 Publishers = 5 Billion tokens locked, huge scarcity)

From April 2019, taking the opportunity of IEO, CryptoMarketAds is attracting vast new users through rapidly growing development, which drives CMA project into high-speed growth.

By December 2019, CMA will expand into many new countries – Asia, Europe, America.

By June 2020, TestNet of new blockchain will be launched.

By October 2020 CMA will be launching new blockchain and swapping CMA token to CMA coin.

This ecosystem will make CMA coin one of the rarest ones with highly specialized utility. It will attract a lot of traders, contributors and holders.

Bitcoin’s Price and Crypto Market Heading Straight for “Full Blown” Level 10 FOMO: Fundstrat

Bitcoin-Market-Heading-Straight-for-Full-Blown-Level-10-FOMO-Fundstrat
  • Bitcoin FOMO past “baby” and medium” levels and heading for the last level at $10,000
  • “A price level only seen 3% of all days”

The last bull market that has Bitcoin going to $20,000 has been driven by FOMO “Fear of Missing Out” when Bitcoin started surging from less than $1000 at the beginning of 2017 to ending the year well above $19,000.

However, since then throughout the brutal winter of 2018, crypto market awareness and adoption grew while institutional investors also came rushing in. But FOMO still drives the BTC price to a certain extent.

According to Fundstrat, we are heading for level 10 that is full blown FOMO. At $6,950, we triggered the first level of FOMO termed “baby.” The “medium” that is at level 5 was hit when BTC price went approximately to $8,900 while in 2017 bull run this level was hit at $3,200.

While during the bull cycle of 2013-2017, the “full blown” FOMO was hit at $4,500, this time once we hit $10,000, we will reach the last level of FOMO that is expected to take us to the rally to new all-time highs (ATH).

Bitcoin bull and Fundstrat founder, Tom Lee explains,

“Actually the point of the chart is to say “real FOMO” probably starts when bitcoin exceeds $10,000 as that is a price level only seen 3% of all days.”

The $10,000 in the current Bitcoin market is mathematically equivalent to BTC exceeding $4,500 in 2017 that Lee says,

“was a level that indeed triggered FOMO.”

Recently, Lee had confirmed that crypto winter is over and shared 13 reasons to justify that. The points that make up these reasons include on chain transactions per day turning positive, Bitcoin Misery index crossing above 67 for the first time since August 2017, BTC price closing above 200 days first time since March 2018 and Bitcoin being bottomed out in December 2018 at $3,150.

Additionally, OTC volumes are surging, BTC printing a golden cross, and no effect of bad or negative news on the price of BItcoin among others like on chain activity and Grayscale Bitcoin Investment Trust premium are surging yet again, signaling we are out of the woods.

The strong Bitcoin market and the network indicate that we have entered a bull market. Currently, BTC/USD is trading at $8,750 with 24-hours gains of 0.41 percent.

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Author: AnTy

Troublesome Exchanges QuadrigaCX and Cryptopia See Users of Both Share Same Unfortunate Fate

Troublesome-Exchanges-QuadrigaCX-and-Cryptopia-See-Users-of-Both-Share-Same-Unfortunate-Fate

Two Of The Biggest Crypto Dramas Of 2019 Happened On The Exact Same Day

  • Both Cryptopia and QuadrigaCX shut down their withdrawals and froze transactions on January 14th.
  • Since then, both exchanges have filed for bankruptcy.

Coincidences happen all of the time, but there are a few coincidences that are too close not to draw a connection. That is exactly the case with QuadrigaCX and Cryptopia, according to a recent article from Decrypt.co. A few customers discussed their recent losses that they experienced in January, watching QuadrigaCX go under on the same exact day that Cryptopia’s hack happened.

The hack of Cryptopia has been well publicized, resulting in the loss of $16 million in both ETH and ERC20 tokens on January 14th. The exchange discovered the loss rather quickly, taking the exchange offline and stopping anyone else from making withdrawals. Unbeknownst to Cryptopia, Quadriga was announcing the passing of their CEO the month before, which was a strange enough situation on its own.

Quadriga had already been slow for quite some time, but the news of Gerald Cotten’s death coincided with the exchange completely freezing withdrawals. As all of this news hit, investors on both sides of these exchanges were take aback, losing so much in one day. One trader named Ida, who omitted her last name, said that she switched to her Cryptopia account after having troubles with Quadriga to pull her coins as soon as possible, but Cryptopia had already been hacked. With the fast-acting work of Cryptopia to shut down withdrawals, Ida was met with another roadblock. The story was the same with many other mutual traders.

QuadrigaCX did not come back from their freeze, deciding to file for creditor protection. The company ultimately decided to file for bankruptcy recently. Cryptopia worked with the authorities in an attempt to relaunch the platform in the middle of March this year, but it didn’t quite go as planned. After multiple attempts by the team to revive the platform with the right security measures, Cryptopia decided to shut down and file for bankruptcy in New Zealand less than two weeks ago.

Realistically, the fact that both of these exchanges met the beginning of their ends on the same day is probably just an unfortunate twist of fate. However, the lack of regulations in the crypto industry are likely the true culprit here, along with the lack of protection.

Cryptopia used to be a place for crypto traders to create a diverse home of converting to altcoins. The platform even listed 400 altcoins at one time, including HoboNickels and BeaverCoin. The year 2017 was a great atmosphere for altcoins, though the volume is rather low for these types of coins. By having such a lot volume, these altcoins tend to become organized “pump and dump” schemes, and Cryptopia ended up being a place for these altcoins.

However, since the exchanges could not actually get the banking needed, these altcoins were not actually available for purchase, and could only be purchased through an exchange that let users use fiat currency to buy Bitcoin. In an interesting turn of events, that was where Quadriga was technically connected with Cryptopia. They would allow for the purchase of these coins, and consumers could go back over to Cryptopia for the altcoins.

Another major issue was the lack of Know Your Customer (KYC) protocols with Cryptopia, which they did not require for NZ $5,000 ($3,270 USD). In May 2017, Cryptopia’s bank started to notice the issues when the exchange decided to launch a stablecoin that they pegged to the New Zealand dollar called NZDT. As a result, locals could purchase their Bitcoin from Cryptopia directly. As funds flew in and out of their bank accounts, Cryptopia’s bank worried that the funds could be used for illicit activities, like drug purchases from the Black market. When the bank decided to shut down their accounts by February 2018, Cryptopia sent out a notification to their users.

Between the banking problems of both Cryptopia and QuadrigaCX, combined with poor accounting of their own blockchains, the companies finally met their demise. On January 14th, both exchanges saw the first stage of failure. Though both have sought the help of the traditional financial system, there are still many former customers that just want their money back.

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Author: Krystle M

A Preview of Countries’ Crypto Regulatory Outlook Heading into the G20 Summit and What’s Next

A-Preview-of-Countries-Crypto-Regulatory-Outlook-Heading-into-the-G20-Summit-and-Whats-Next

The G-20 countries are gearing up for the upcoming G-20 summit, and the main aim of the upcoming event will be largely focused towards implementing unified crypto regulations set by intergovernmental organizations such as the Financial Action Task Force. The European central bank has confirmed that despite the challenges posed by crypto assets to the euro area’s financial stability, it is still manageable.

The G-20 nations have reaffirmed their support for the FATF recommended policies in areas such as anti-money laundering as well as crypto assets. The FATF recently conducted their annual Private Sector Consultative Forum in Austria which saw participation from over 300 representatives from the private sector.

The Financial Action Task Force (FATF) comprises of 36 countries and two international organizations including the European Commission. During the recent forum, FATF said,

“The discussions focused on the mapping of virtual asset services and business models … and on the implementation of specific FATF recommendations.”

The FATF in its April Report also put out a guideline for the member G20 countries for regulating and standardizing crypto assets. The Financial Action Task Force further promised

“to continue assisting jurisdictions and the private sector, in implementing a risk-based approach to regulating virtual asset service providers, including their supervision and monitoring,”

While providing a standard guideline to help the G20 nations in formalizing their crypto regulations, the FATF also emphasized on various risks that come along with the standardization of digital assets such as money laundering. The report states,

“Technological innovations, including those underlying virtual assets … may deliver significant benefits to the financial system and the broader economy.”

Russia Needs To Get Their Regulatory Framework Finalized

Russia, one of the G20 nations has been facing constant delays in finalizing the crypto regulations. Now they have come out to announce that they would be following the standards set by FATF to help them create a standard framework for the use of digital assets in the country.

The Russian President Vladimir Putin has asked the concerned authorities to finalize the regulatory framework in July last year, but there was no progress made on the order. Putin again ordered the authorities to complete the framework by July this year. Looking at the progress made on the recent order, the finalization of the framework might get delayed again.

Anatoly Aksakov, the Chairman of the State Duma Committee on Financial Market has recently said that they are facing issues due to the requirements set by the FATF. The chairman said that the guidelines set by the FATF either need to be implemented into the law on digital assets or a separate bill need to be passed. He explained,

“The law on digital financial assets has been suspended … There were FATF decisions that require us to resolve issues related to bitcoins and so on.”

Another report in the local media houses suggests that the laws on regulating crypto and digital asset may come in force in the Spring season. The reports were based on the deputy chairman of the Bank of Russia, Olga Skorobogatova’s recent comments. The report quoted her saying,

“The law on digital financial assets, on crowdfunding, etc., all these bills are in a fairly high degree of readiness. Colleagues from the State Duma committees are very helpful, we expect that these laws can be passed during the Spring session.” She further stressed that these laws “are extremely important for the country and will provide an opportunity to implement new projects.”

Japan is Helping Other G20 Nations While South Korea Emphasises on Regulatory Consistency

The upcoming G20 summit will be hosted by Japan, which also happens to be one of the most crypto compliant nations with the consumer-friendly regulatory framework put in place. The country has also shown its interest in helping other nations with their regulatory dilemma by working on implementing global standards on crypto assets.

The House of Representatives recently passed a crypto bill with several resolutions. One of the media publications reported,

“We have fully grasped the regulatory trends of G20 countries and cooperated with each country to achieve international harmony.”

The Financial Services Agency (FSA), Japan’s top financial regulatory released a report last December which states,

“To manage and mitigate the risks emerging from virtual assets, countries should ensure that virtual asset service providers are regulated for AML/CFT purposes.”

South Korea, another G20 nation has often echoed for the regulatory consistency and have announced several times that they would be complying with the unified crypto regulatory standards. Choi Jong-Ku, Chairman of the Financial Services Commission said that

“Transnational cooperation is necessary to regulate virtual currencies,”

The FSC chairman also emphasized on the importance of G20 nations adhering to the international standards prepared by the FATF

“to minimize regulatory inconsistencies.”

The Possible Challenges in Creating a Standard Regulatory Guideline

Chainalysis, one of the prominent blockchain and the crypto analytic firm gave feedback on the guidelines set by the FATF. The firm said that the Guidelines set by FATF would have profound implications for the cryptocurrency industry. The Chainalysis feedback report explained,

“There are clear technical obstacles that prevent cryptocurrency businesses from being able to comply with these standards. Cryptocurrencies were originally designed as a peer-to-peer financial system that has no central authority and no intermediaries.”

The analytics firm went on to note that in order to adhere to the FATF guidelines, crypto exchanges can use the transparency from the shared ledger to form an effective Risk-based approach. The firm went on to suggest that exchanges should take up the responsibility to conduct KYC and store the data safely. Crypto exchanges should start linking users KYC information with their transactions as it is not available on the public ledger.

The feedback report explained further,

“Forcing onerous investment and friction onto regulated businesses, who are critical allies to law enforcement, could reduce their prevalence, drive activity to decentralized and peer-to-peer exchanges, and lead to de-risking by financial institutions.”

Chainalysis noted that these measures would decrease the transparency which is currently available to the law enforcement agencies.

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Author: Bitcoin Exchange Guide News Team

Ikigai Founder: Bitcoin’s Beauty Shines in Comparison to Gold, BTC is a Central Bank Insurance Policy

Ikigai-Founder-Bitcoins-Beauty-Shines-in-Comparison-to-Gold-BTC-is-a-Central-Bank-Insurance-Policy

Could any two investments seem more different than precious metals like gold and silver versus digital currencies? One is dug from the ground, forged in flames and hurts like heck when you drop it on your foot. The other is purely digital, created by computers crunching complex equations, existing only in bits and bytes.

Recently, Travis Kling, Founder and Chief Investment Officer of Ikigai Asset Management. Appeared on the WhatBitcoinDidPodcast hosted by Peter McCormack.

Regarding the recent bull run and the generally positive sentiment around cryptos, Kling said:

“The people in the space show an enormously positive vibe with a feeling of a growing sense of maturation year over year. Now that there are fewer charlatans and scammers in the fields it becomes easier for more Bitcoin centric announcements to be made.”

Bitcoin was even purposefully intended to simulate some of gold’s unique natural properties. You even “mine” for new Bitcoin digitally like people mine physically for gold, and the supply is purposely limited. Because they have a lot of similarities, they appeal to many of the same investors. Both can be a store of value and a medium of exchange, however, according to Travis Bitcoin is mostly being used as a store of value.

“Bitcoin has gone through a lot of phases and in my opinion, it is a non-sovereign, hard cap supply, global commodity. In other words it is an insurance policy against central banks even though Bitcoin is not a safe haven right now. The reason why I, like so many others are excited about it is because it has the characteristics it possesses to grow.”

Bitcoin and alt-coins are emerging as a powerful innovation, both as a possible complement to — and, in thus far rare circumstances, a replacement for — cash or precious metals in many applications. As the market comes to grips with cryptos, however, it’s increasingly clear there is a place for each in the world, and none of them — not cash nor gold nor cryptocurrencies — are going away anytime soon.

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Author: Sritanshu S

TechCrunch’s Michael Arrington Talks About the Ongoing Honeymoon Between Binance and Altcoins

TechCrunchs-Michael-Arrington-Talks-About-the-Ongoing-Honeymoon-Between-Binance-and-Altcoins

One of the top cryptocurrency exchange platforms, Binance, has in recent times made a lot of headlines due to its announcements of developments in the crypto industry. Notably was Bitwise’s report to the USSEC (United States Securities and Exchange Commission) which listed Binance as one of the exchange platforms with real transaction volumes.

The Binance Launchpad has also become the top choice for crypto projects seeking to raise funds.

On the 27th of May 2019, TechCrunch founder and Arrington Capital partner, Michael Arrington tweeted about Binance‘s growth.

He said :

“With the exception of Korea, binance is becoming more important for alts than all other exchanges combined. Great for bnb holders like us, but bad for the market overall. People need to step up their game.”

Binance Chain Anticompetitive Moves

In addition, Arrington said that Binance needed to “be careful about anticompetitive moves” like “forcing Binance chain” as a prerequisite for listing on the platform, saying that the Binance Chain should have to

“compete on its own merit”

These tweets by Michael Arrington, who is a well-known crypto influencer, got the attention of the Co-founder and CEO of Binance, Changpeng Zhao, in response CZ tweeted :

“Nah, there are lots of coins we don’t list, yet. We don’t compete to list a coin first, we like to see them grow a bit on other exchanges first.”

Justin Sun

Michael Arrington also talked about Justin Sun, the Tron foundation founder, he said :

“The canary in the coal mine for U.S. crypto regulation is @justinsuntron. He currently resides as a free man in San Francisco, as he should. If/when he either flees the country or is arrested, we will know the U.S. isn’t messing around any more with crypto. It’ll be war, then.”

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Osahon Okodugha