How Binance became the world's biggest crypto exchange without headquarter or licenses - cyptoranking.com

2024-05-04

Popular crypto exchanges(2023 Update) 2024-05-04
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In a recent exchange on the social media platform X, previously known as Twitter, we saw two influential figures weigh in on a contentious topic. The debate was sparked by a statement from the SEC in the Coinbase case, asserting that "crypto has 'no innate or inherent value.'" Read more: Mutant Ape Planet NFTs creator arrested and charged with fraud over $2.9m exit scamAstrology NFT project ‘Lucky Star Currency’ rugged for over $1m - Certik How Binance became the world's biggest crypto exchange without headquarter or licensesCointelegraph journalist Joe Hall traveled to El Salvador in 2023, documenting the adoption of Bitcoin as a means of payment in the two years since the country became the first in the world to officially make BTC legal tender. “We all have collectively agreed that the government is there essentially to attempt to remove the business cycle. Like, there should never be bad things that happen to the economy and if there are, we want the government to come in and destroy the free market. So every time we’ve had a financial crisis over the past 80 years. What happens? The government rushes in and they essentially destroy some part of the free market because they want to save the system.”

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ProShares launched its bitcoin futures product just days before similar funds by Valkyrie and VanEck went live — a first-mover advantage that helped it quickly amass $1 billion in assets under management. Source: Sam Cooling x XreschAbracadabra Finance has put forth a proposal aimed to adjust interest rates to mitigate the risk of bad debt resulting from an $18 million loan to Curve Finance founder Michael Egarov. The proposal suggests hiking interest rates on the loan to 200% on two specific pools known as "cauldrons," which consist of CRV tokens belonging to Michael Egarov. The current interest rate on Egarov's $18 million loan is 18%, but the proposed protocol aims to raise it to a whopping 200%, effectively squeezing Egarov out of his position. By doing so, Abracadabra hopes to limit its exposure to CRV tokens to only $5 million.The proposed interest rate hike is not a sudden increase in rates, but rather a gradual decrease that starts at 200% and decreases as the loan is repaid through the automatic sale of CRV tokens. Developers anticipate that this strategy will result in the loan being fully repaid within six months, with all proceeds going to the Abracabadra treasury. "The effect of collateral-based interest is such that all interest will be charged directly on the cauldron’s collateral and will immediately move into the protocol’s treasury to increase the reserve factor of the DAO," the proposal reads."We believe this solution will reduce negative externalities associated with such positions compared to a simple interest rate hike"Big Whale Opposes Abracadabra Finance's Proposal It is worth noting that the proposal initially gained substantial support from the Abracadabra community.As of Wednesday at 13:00 UTC, a majority 99% of votes were cast in favor of the prposal. However, the poll has since changed course after a big whale voted against the plan. Earlier today, whale masterofdisaster.eth cast 10 billion SPELL tokens against the proposal.As of now, a majority 72% of votes are against the proposal, with another 27% supporting the change.Abracadabra community member known as "0xthespaniard" had previously voiced concerns about the risks associated with such a large loan.In a June post, the user acknowledged that the 18% interest rate contributes significantly to the protocol's profitability, but also highlighted the platform's asymmetric downside risk. At the time, they said that a liquidation event could prove fatal for the Abracadabra protocol due to the anticipated price impact on Curve's decentralized exchange.As reported, Curve Finance, a major player in the stablecoin swapping landscape, recently experienced a security incident that led to the loss of more than $100 million worth of crypto assets. The exploit also resulted in a decline in the price of CRV tokens, putting a $168 million holding belonging to founder Michael Egorov at risk of being liquidated. Crypto Billionaire Arthur Hayes' Vision: AI DAOs to Become Invincible, Driving DeFi's Supremacy over TradFi How and Where to Buy GoChain-A Complete Guide“HKEX Synapse is a DAML smart contract based integrated settlement platform that supports institutional investors participating in Northbound Stock Connect to better manage their post-trade operations across different time zones, in particular with regard to adhering to the Mainland securities market’s T+0 settlement cycle,” a spokesperson for HKEX told Blockworks. What Is Cryptocurrency?

The APAC region, including Australia, is increasingly viewed as a favorable environment for digital asset businesses due to its more defined regulatory landscape. Australia's involvement in CBDC research and pilots also signals a willingness to engage with and understand emerging financial technologies. This implies that the potential uptrend in the price of the premier meme coin is largely dependent on the broader market momentum. With its very high correlation with Bitcoin (BTC), we can expect DOGE to sustain its growth if the projected BTC recovery is actualized. 4 Steps to Make Sure You Have Ethereum in Your WalletWhat is Ethereum? Since being added to the OFAC Specially Designated Nationals list, the once-popular Tornado Cash mixer has seen a decline in activity. As of June, it is processing just $6 million in deposits and withdrawals per day, according to a Dune Analytics dashboard. While there are still other privacy tools on Ethereum, such as Railgun, they simply lack the necessary liquidity to obfuscate the huge sums the attacker stole.

“No Bitcoin was sold during the month,” Hut 8 said, stressing that the company owns one of the largest self-mined BTC reserves among publicly traded firms. “Total balance of Bitcoin in reserve was 9,366 on September 30 — 7,269 of which were unencumbered,” the firm added. “It made this Cosmos chain that we’re building a really natural fit,” he says, “just because you can do really custom stuff if you own the entire stack.”Trader Joe’s grocery chain sues DEX of the same name ByBit Joins Long List Of Crypto Exchanges To Exit CanadayPredict's crypto presale is advancing, offering AI-based trading tools and targeting a final raise of over $6.5 million.yPredict, an AI trading platform, is progressing through the stages of its crypto presale. As of writing, the platform is in Stage 7 of its token sale, having raised $4,195,330.35 toward its final target of $6,507,551.The platform distinguishes itself by offering a comprehensive set of AI-based trading tools, including but not limited to trading signals, price prediction and technical analysis. Additionally, yPredict has delved into content generation with its WriteMingle Beta Testing Program. Visit yPredict HereA Detailed Look at the Presale MechanicsCurrently in Stage 7, yPredict has $400,000 left to raise before the token price increases from $0.10 to $0.11. The total supply of YPRED tokens is capped at 100 million, with 80 million allocated for the presale.Upon reaching Stage 8, the platform will offer 17,500,000 tokens for sale, accounting for 21.875% of the total supply, valued at $1,925,000. The end goal for the presale is to achieve a market cap of $6,507,551. Regarding price prediction, the platform's internal estimates suggest that the annual percentage yield (APY) could reach 45% each quarter.An additional aspect of the yPredict platform worth highlighting is its approach to staking rewards for token holders. According to the company, 10% of subscription revenues will be diverted into a staking pool from which rewards will be distributed to YPRED token holders. This arrangement could provide an additional incentive for participation in the platform, beyond the suite of AI-based trading and analytical tools already on offer.AI-Driven Trading Tools: Beyond Simple SignalsyPredict centers its suite of services around AI trading, providing more than just trading signals. The platform is working on a range of products including yPredict Predictions, yPredict Analytics, yPredict Repository, yPredict Terminal, and yPredict Marketplace.In terms of AI application, yPredict Analytics plans to utilize models capable of predicting cryptocurrency prices. These models are being developed by specialists in AI and will be available to users who hold a minimum of $500 in YPRED tokens.Beyond its trading focus, yPredict is also expanding its reach with WriteMingle, a beta program focused on content generation. Raj Sharma, the CEO of yPredict, stated, "Our goal with WriteMingle is to allow people to focus on big picture content strategy and creation, while letting AI handle the time-consuming busywork like proofreading and SEO optimization." WriteMingle uses advanced natural language processing and generative AI to assist with content creation tasks.As yPredict progresses through its crypto presale and approaches its financial targets, the platform is shaping up to be a complex entity in the trading sector. With services ranging from AI-driven trading tools to a content creation beta program, yPredict is casting a wide net.As the platform advances toward its funding goals, market watchers may be interested to observe how it positions itself within the broader trading and crypto sectors. Visit yPredict HereDisclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.Best Crypto to Buy Now October 10 – Tezos, Cosmos, XDC Network The crypto market frequently undergoes several changes and new slang words can be expected from it. In short, new catchphrases can also be evolved when a new market situation arises.

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