Binance Giving Away 10,000 BNB (Over $223k) on the Launch of Two Futures Testnet Platforms

  • Battle of Binance Futures
  • 10,000 BNB and 50% trading fee discount for a full month up for grabs

Binance has announced the launch of two Binance Futures Testnet platforms and conducting a competition to allow its customers to choose one.

In this “Battle for Binance Futures,” the world’s leading cryptocurrency exchange is giving away a total of 10,000 BNB to users that participate in each of Futures Test Platform. Binance’s native token BNB is currently trading at $22.34, that means $223,400 is up for grabs.

Moreover, users that vote for the winner will receive a 50% trading fee discount on the official Binance Futures Platform for an entire month.

Battle for Binance Futures

This battle for Binance Futures commences from September 3rd, 2019 and will last for less than a week, ending on September 8, 2019.

As per the Simulated Trading Competition, where the winner gets 10,000 BNB, all the participants will be allocated 1000,000 USDT, in simulated funds, of course, on each of Futures A and Futures B.

The participants will be ranked in terms of the total USDT trading volume transacted including both buys and sells on each of their Binance Futures accounts.

In order to receive 50% trading fee discount for a full month, participants will have to vote for their favorite Futures platform. The rewards for the same will be issued by the exchange within 2 weeks after the competition ends.

It has been further clarified that participants must use the same email account to register on both the platforms.

With this battle of Binance Futures, the exchange has given the futures in its customer’s hands!

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Author: AnTy

Binance Debuts Two New Crypto Futures Platforms, Futures A and Futures B, To Be Tested

Binance, one of the largest crypto exchanges in the world, has recently decided to launch two new platforms that will be used to test its new products. The two platforms are set to be called Futures A and Futures B.

Despite their really uninspired names, they will be important in the company’s strategy and will be used to encourage traders to get more involved in the platform than they currently are. This involvement will come from the fact that people will be able to vote on their favorite platforms and that the winning one will be fully developed.

In order to promote voting, even more, Binance has affirmed that the users will get free trading fees for a month if they voted on one of the platforms. This, the management believes, will inspire the team, even more, to participate in this kind of event.

The CEO and founder of the company, Changpeng Zhao, affirmed that crypto futures were coming some months ago. Until now, however, not many details about it were publicly released so far.

In related news, Binance has also started a crypto loan service last month. The service, which was partly created to attract more deposits, lets people lend Tether (USDT), Ethereum Classic (ETC) and Binance Coin (BNB).

According to the official announcement, the new product will have annualized interest rates that will have a fixed maturity term of 14 days. These rates will vary from 7 to 15% and will vary on what token was token. The higher rate is for BNB, while USDT has a rate of 10% and ETC has only 7%.

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Author: Gabriel Machado

Binance’s Venus will Face the Same Challenges as Facebook’s Libra, says Crypto Researcher

  • Libra to serve as a cautionary tale for Binance’s Venus
  • The exchange is planning to launch an independent association in charge of stablecoin project
  • Instead of Western companies, Venus’ geographic scope aligns with Beijing’s infrastructure initiative

Last week, the world’s largest cryptocurrency exchange Binance announced its upcoming project, Venus.

With that the Mata-based crypto platform became the latest one to join the list of companies coming up with their stablecoin after Facebook’s Libra.

Libra, however, does not paint a picture of confidence as, since its announcement two months back, regulators have shot criticism at the project.

From Bank of England Governor to Federal Reserve Chairman, ECB President, US Treasury Secretary, and other authorities, all have raised concerns including privacy, money laundering, consumer protection, and financial stability.

Facebook has now hired a lobbying firm to help with the regulators. However, Binance has learned from this push back and as such will take a different approach.

“If we want to launch Venus in a country, we’ll make sure it complies with the regulations,” the exchange’s co-founder He Yi told Bloomberg. For this project, Binance drew inspiration from Libra in many ways but resistance from the government will serve as a cautionary tale for the firm.

Binance announced that it is looking for partners to create the stablecoin that will be pegged against a basket of government-issued currencies.

Just like Facebook’s Libra Association for its cryptocurrency, the exchange is also planning to form an independent association in charge of Venus. But the company, He said, will take a “more conservative approach” to push through the project, with a focus on regulatory compliance instead of technological developments.

Notably, Venus will focus on partnering with companies and governments in non-Western companies. The “belt and Road Version of Libra” has its geographic scope roughly align with Beijing’s infrastructure initiative.

China, meanwhile, is ready to launch its central bank digital currency (DC/EP) after five years of research.

“So far regulators around the world can’t gauge precisely the potential risks stable coins will bring to their financial systems, and that’s why they are very careful about Libra-like currencies,” said Hu Tao, founder of Beijing-based crypto researcher TokenInsight. “In theory, Binance will face the same challenges as Facebook.”

At the time of Venus reveal, unlike other times, Binance released two separate announcements and in the Chinese statement, it advises the government to launch a regulatory sandbox that allows private firms to issue their own stablecoins.

“It’s better to embrace the change rather than missing the opportunity,” read the statement.

As for the launch, currently there is no time but in the next few months, more details including partnerships are expected to be released, He said.

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Author: AnTy

Renowned Crypto Custodian BitGo Now Supports EOS Multi-Signature Custody Wallet Services

Cryptocurrency custodian and wallet provider BitGo has announced the launch of multi-signature wallet and custody services for EOS, the eighth largest cryptocurrency by market capitalization.

BitGo offers security, custody, and liquidity services that are built on multi-signature security. The company said that it now supports over 200 coins and tokens, allowing institutional clients to hold a wide range of assets.

EOS is the native token of the EOSIO network, published by which raised a staggering $4 billion via an initial coin offering (ICO) of EOS tokens as per a report by Business Insider.

EOSIO is a blockchain platform built for both public and private use cases. The open-source blockchain protocol has become quite popular with decentralized app (dApp) developers owing to the low cost of transactions and quick transaction times and has hundreds of dApps in active use on several EOSIO-based blockchains. BitGo’s chief technology officer Ben Chan said:

“The EOSIO software has some innovative differentiators like its high transaction capacity and fee model that required our engineering team to scale our platform. We were able to successfully create an experience for EOS users that is seamless and consistent with how we support other coins and tokens.”

Chan stated that his firm’s culture and approach has always been to build infrastructure and platforms to help drive the global economy and his firm was excited to extend this infrastructure to support EOS for the firm’s clients.

As per the press release, EOS custody is available through either BitGo, Inc. or BitGo Trust Company, a qualified custodian purpose-built for digital assets.

Earlier in June, announced a new blockchain-based social media platform which will reward and return control to social media users. Called “Voice,” the platform will be launched on the EOS Public Blockchain.

Cointelegraph reports that BitGo recently hired Pete Najarian as the company’s Chief Revenue Officer. Najarian joined BitGo from its rival Xapo, where he served as Senior Vice President of Institutions. BitGo was Founded in 2014 in San Francisco and looks forward to adding more budding cryptocurrencies in the future according to the company’s head.

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Author: Joseph Kibe

Ecash Creator David Chaum To Launch New Quantum-Resistant Crypto Called Praxxis

David Chaum, a pioneer in the crypto world, has recently decided to launch a new cryptocurrency called Praxxis. According to him, Praxxis will be a token that will follow his original vision for digital money.

He affirmed that the new project is set to have upgraded security and be quicker and more scalable than the other cryptos in the market. The idea is, like Bitcoin’s main goal, to replace cash. Chaum was recently interviewed by The Block Crypto and revealed more details about the asset.

He affirmed that it is based on the Elixxir blockchain and that it will also follow Satoshi Nakamoto’s vision of cryptocurrencies. He believes that Bitcoin is a great way to store value, but it is currently missing some key features in order to be used properly as cash. His goal is to create a currency that can fully satisfy scalability, decentralization and security.

This new protocol is also set to be “quantum-resistant”, meaning that even quantum computers will not be able to hack it. This is the kind of threat that many people are already predicting that the future will bring, so it is certainly a good idea.

At the moment, the new revolutionary currency is being backed by private investors. However, a token sale will probably happen whenever the protocol is finally ready.

The Father of Digital Currencies

David Chaum is the real father of all digital currencies. While the figure nicknamed as Satoshi Nakamoto created Bitcoin and ushered us into the current era of crypto, Chaum was the first to come up with Ecash back in 1982.

He started a company to create it in 1990, only to went bankrupt in 1998. The idea of Ecash inspired Satoshi and led to the creation of Bitcoin.

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Author: Hank Klinger

Why is Bakkt Important For Mainstream Adoption of Bitcoin (BTC)?

  • Bakkt get green light from CFTC, to launch Bitcoin futures contracts next month
  • Bitcoin Futures, Custody, Payments, & Compliance by Bakkt
  • One-day physically delivered BTC futures contracts traded on registered exchange big for Bitcoin

After a year of repeated postponements, we are finally going to have physically-delivered Bitcoin futures.

September 23rd is the day when Bakkt is launching its physically-delivered Bitcoin futures contracts after receiving the green light from the CFTC.

“Transparency and trust to digital assets,” is what Bakkt vows to bring to the cryptocurrency industry which is still in its early stages.

The digital asset platform launched by Intercontinental Exchange, a US company that operates 12 regulated exchanges and marketplaces is expected to be the beacon for the institutional investors.

Bakkt: Bitcoin Futures, Custody, Payments, & Compliance

In the decade long history of Bitcoin, one of the most concerning issues with the crypto industry is the wild swings in prices of crypto assets.

This kept the institutional investors at bay though they have started to make their way in crypto space. But with ICE backed Bakkt making its way into the market while adopting practices employed in the global futures market, more interest from institutions is expected.

Bakkt is partnering with ICE’s leading futures exchange and clearing infrastructure to bring its physically delivered futures contracts to market participants in more than 30 countries. These participants will undergo AML/KYC rules consistent with CFTC-regulated markets.

In addition, “Bakkt will routinely participate in financial and security audits, as well as regulatory compliance reviews.”

As for the custody, it provides secure storage backed by insurance for digital assets held in frozen wallets. Moreover, they are working with leading merchants who recognize the potential of crypto-assets as these new global currencies evolve beyond speculative assets and or a store of value.

A way for large, risk-averse institutions to buy & custody bitcoin

Crypto market is largely designed to serve retail customers rather than institutional participants and Bakkt is bridging the gap — concerns related to lack of regulation, liquidity, market quality, fees, and operational risks — to access this market.

“It offers a way for large, risk-averse institutions to buy and custody bitcoin through an end-to-end regulated system approved by the CFTC and NYDFS, and backed by the sterling reputation of ICE,” said Jake Chervinksy, General Counsel of Compound Finance.

Most notably, these bitcoin futures are physically settled contracts, unlike 98% of futures in the finance industry.

Bakkt is offering an innovating one-day futures contracts, traders will thus take delivery meaning it will be similar to trading spot, as explained by economist and trader Alex Kruger.

The fact that these futures will be traded on a fully regulated exchange, is huge to attract institutions and:

“could thus be an extremely bullish development IF demand is there.”

Bitcoin price meanwhile reacted somewhat positively to the news as we went above $10,500. But BTC/USD is yet again in the red by 0.54% while trading at $10,345.

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Author: AnTy

US Customs and Border Protection Advisory Group To Launch Blockchain Shipping Proof-of-Concept

An advisory committee for the US Customs and Border Protection (CBP) has revealed that they are intending to launch a live test of its blockchain-based intellectual property rights proof of concept.

The panel is called Commercial Customs Operations Advisory Committee (COAC) and has been monitoring the agency’s blockchain tests and had been expected to submit related recommendations at its quarterly meeting in December. The POC strives to facilitate shipments based on known licensing relationships through the use of blockchain.

Their most recent report says:

“The working group has been active with the current POC on IPR. Since the last in person meeting in March, the working group has progressed through the overall project design, implementation of the initial engineering plan, and integration of Trade and CBP systems. Live testing of the system will start at the end of August and conclude late September.”

The COAC advises the Secretaries of the Department of the Treasury (Treasury) and the Department of Homeland Security (DHS) on the commercial operations of U.S. Customs and Border Protection (CBP) and related Treasury and DHS functions. They are involved in three ongoing proof-of-concept projects involving blockchain technology.

This is particularly a remarkable movement towards blockchain adoption because CBP is the largest federal law enforcement agency of the United States Department of Homeland Security, and is the country’s primary border control organization.

Just last year, the agency launched a live test of a blockchain-based shipment tracking system. While testing, the agency intended to establish standards of interaction between different blockchains to ensure that all firms and software will be easily connected to customs without the need for additional customization.

In similar news, the Department of Homeland Security is seeking from the private sector solutions that use blockchain to digitally issue and verify licenses, certifications, and other documents related to supply chain security and other issues.

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Author: Sritanshu Sinha

New Sun Network Will Go Live This Week With Unlimited Capacity, Will Tron’s TRX Benefit?


Justin Sun, the famous founder of the Tron Foundation, has recently announced the launch of a new solution that will be called Sun Network. This is set to be a new scaling solution devised for the Tron network. It is set to be released this week.

According to Justin Sun, this new version will bring considerable improvements for the community as it can bring scalability up to 100 times. This, he affirmed, will be very important in order to help the developers who work in the creation of decentralized apps.

The official site of the new Sun Network affirmed that the fees can be as low as 100 times and that there will be some free transactions, as well as confirmation times that will be considerably improved.

What is actually the main announcement, though, is that the new technology will be used in order to allow unlimited growth for Tron. As with any current blockchain, Tron is prone to several issues with scaling, so if the solution is as good as advertised, the network will finally be ready for exponential growth.

Tron is far from the only company that has tried to invent new scaling solutions. Bitcoin has the Bitcoin Lightning Network and Ethereum has several new initiatives which are set to do the same. So far, none of them was completely successful. If Tron is actually able to do it, it can gain an important advantage when compared to other similar projects.

[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: Gabriel Machado

Bakkt To Launch Bitcoin (BTC) Futures Very Soon, Pending Final Regulatory Approval


Bakkt, the Bitcoin futures platform created by the Intercontinental Exchange (ICE), is set to launch really soon, according to reports. The CEO of ICE, Jefferey Sprecher, has recently affirmed that the company is currently working in order to develop a regulated ecosystem that will cater to investors from all over the world.

He affirmed that the company is still waiting for the last regulatory approvals in order to move forward,but that they are pretty close of finally being able to launch their physically-settled futures. However, no specific timeline was provided during his speech.

It is now almost a whole year since Bakkt was announced and the platform is still not online. Bakkt was originally announced back in August 2018 with its ambitious plan of having physically-settled Bitcoin futures.

The initial launch date was December 2018 but the world has not been kind to ICE and Bakkt since then. Several problems with the regulators delayed the launch of the products considerably.

This caused some changes in the company’s plan, too. Initially, it was supposed to have its derivatives products overseen by the U. S. Commodity Futures Trading Commission (CFTC). Now, the derivatives will be self-certified after some headaches with the regulator.

One of the main points that are still being awaited by the company is the trust charter from the New York Department of Financial Services. As soon as the warehouse of the company is approved by this local regulator, the products will finally be out of the door and Bakkt will start officially.

Launching is not a guarantee of success, though. Companies such as TD Ameritrade and ErisX are also planning to offer similar products. LedgerX can also be a competitor in this area, so it looks like Bakkt lost the chance to have an edge on the competition by not being approved quickly enough.

In spite of all the trouble with Bakkt, ICE is doing just fine, though. The company had revenue of $1.3 billion USD in the second quarter of 2019. The Chief Financial Officer of the company, Scott Hill, affirmed that ICE continues to be interested in the crypto market and that he believes that the Bitcoin ETF will be a reality within the next few years.

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Author: Gabriel Machado

LedgerX’s Physically Settled Bitcoin Futures Have Not Been Approved by CFTC Yet

  • The CFTC has not approved the launch of LedgerX’s Omni platform.
  • Previous reports from The Block and others reported that the bitcoin futures had been launched, following a tweet from LedgerX.

Yesterday, reports came out that LedgerX was finally launching the physically delivered bitcoin [BTC] options and custody that they had been working on, according to The Block. In the original report, The Block had spoken previously with LedgerX’s CEO, discussing the way that this product would open doors for institutional investors. While these previous reports showed accurate information about what the public can expect from the new product, the launch has not happened.

The Block reported on the current situation, correcting their previous statements. Instead, the publication is now claiming that the current state of the launch is “unclear,” and that the futures contracts do not appear to be going live anytime soon, as the Commodities Futures Trading Commission (CFTC) has already stated that they’ve not approved the launch, according to statements released to CoinDesk.

Many publications reported on an announcement from LedgerX, dated July 31st, that the Omni trading platform already had physical futures offering live. However, based on information from the CFTC, that is impossible. On Twitter, a derivative specialist named Thomas G. Thompson said that “the CFTC does not show any futures contracts certified by” the authority. While it is possible that their existing swaps were launched on the new futures platform, he added that this is “still [an] important development.”

The reporter with The Block stated that there’s no reported trade volume at this point, according to an anonymous industry leader, which suggests that the launch didn’t happen. However, on the official Twitter account for LedgerX, the company invited users to sign up to receive “early access” to Ledger OmniX.

Yesterday, LedgerX had tweeted that they were “live with retail trading on Omni.” However, the tweet has since been deleted. The screenshot, pulled from reports from The Block, can be seen below.

LedgerX originally revealed in April that they were working to offer Bitcoin futures, following their filing with the CFTC in November 2018 for the requisite licenses. Last month, the CFTC provided LedgerX with a designated contract markets (DCM) license, offering the final approval that it needed. While approval processes have been complete, a launch date has not officially been announced.

Along with LedgerX, Bakkt is already working with the CFTC to obtain a trust charter from the New York Department of Financial Services. Bakkt would most likely launch within a few weeks of having this trust charter approved.

ErisX, much like LedgerX, has received the approvals that they need, but no launch date or other timeline has been made available for their futures contracts. Cryptocurrency spot trading started being offered by ErisX in April of this year.

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Author: Krystle M