Recently, the cryptocurrency exchange has laid off more than 1,000 people. All rights reserved.The global crypto market cap was trading slightly higher, rising to the US$1.22T markīinance has launched a new feature enabling users to obtain multiple deposit addresses for a single network. Benzinga does not provide investment advice. This article Binance's Masterstroke: Zero-Fee Trading On TrueUSD After Record $1B Minting originally appeared on Learn why everyday gamers and investors are claiming a stake in their side hustle and how they invested over $1.2 million in this startup.ĭon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better. Gamers are selling their old gaming items for millions. Learn how Retail Investors Are Taking Stakes In Their Favorite Startups To Own The Upside See more on startup investing from Benzinga:ĭon’t just buy from your favorite brands, own them so you own the upside. Thanks to Binance's active minting, TUSD's total circulation has increased by more than 300% so far this year and is currently valued at over $3.1 billion. According to data from Arkham, Binance’s crypto wallets currently hold at least 90% of TUSD's total market capitalization of $3.1 billion. dollar-pegged stablecoins and minted approximately $50 million worth of TUSD in February. Following this regulatory crackdown, Binance began shifting its focus to U.S. cannot mint Binance-branded stablecoin BUSD. Through this promotion, Binance plans to promote TUSD trading on its platform, which is the fifth-largest dollar-pegged stablecoin in the market issued by crypto firm Archblock, formerly known as TrustToken.īinance's decision to promote TUSD trading stems from the New York state regulator's February mandate that the issuer Paxos Trust Co. Throughout the promotional period, users will be able to benefit from zero maker and taker fees on both existing and new USD stablecoin spot and margin pairs, encompassing a wide range of tokens such as BUSD/USDT, TUSD/BUSD, TUSD/USDT, USDC/USDT, and USDP/USDT, among others. This decision follows Binance's recent minting of approximately $1 billion worth of TUSD on the Tron network, according to blockchain data released by Arkham Intelligence. Additionally, traders on the Binance platform should be able to exchange TUSD stablecoins without incurring additional fees during the promotional period. "If they're successful, then this will effectively shut down the vast majority of trading services for U.S.-based crypto investors."Īccording to the announcement, traders would able to take advantage of zero maker fees for all TUSD spot and margin trading pairs from June 30, thereby extending the current promotion beyond the Bitcoin (BTC)-TUSD pair. "The SEC lawsuits do pose an existential threat to all cryptocurrency exchanges that are operating in the United States," said Clara Medalie, Kaiko's research director. market share slumped to 0.9% as of June 26 from more than 22% recorded in April. According to data analytics firm Kaiko, Binance’s global market share fell by nearly 8% since last month, from 60% to 52%, because of the SEC shakedown. Binance's cryptocurrency token, Binance coin, was down 9.7% intraday. Īfter the SEC filed 13 charges against Binance on June 5, the crypto exchange's shares fell more than 5% to hit its lowest level since March. ![]() ![]() Thanks to changes in federal law, this Kevin O’Leary-Backed Startup Lets You Become a Venture Capitalist With $100īillionaires are making their money in the private markets, and This Startup Is Revolutionizing Healthcare Investment so anyone can get involved. Until 2016 it was illegal for retail investors to invest in high-growth startups. The legal battles and ongoing regulatory scrutiny have presented formidable obstacles for Binance, shaping a turbulent period for the company. ![]() As a consequence, Binance has experienced a substantial decrease in trading volume, potential limitations on its services and an overall loss of market share in the cryptocurrency exchange landscape. The SEC's lawsuits and investigations against Binance have led to a decline in user confidence and increased regulatory uncertainty surrounding the platform. The company has been subjected to legal scrutiny and regulatory pressure, which has had a detrimental effect on its operations and reputation in the cryptocurrency industry. Securities and Exchange Commission (SEC). ![]() Binance Holdings Ltd., the world's largest cryptocurrency exchange in terms of daily trading volume, has faced significant challenges and negative impacts as a result of legal actions initiated by the U.S.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |