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Binance allows customers to custody trading collateral off exchange as market share recovers - CryptoSlate

TL;DR

Binancelistednine new isolated margin pairs, including BCH/FDUSD, LTC/FDUSD, SUI/FDUSD, FIL/FDUSD, and more. It also introduced three new cross-margin pairs: CVP/USDT, FORTH/USDT, and PROM/USDT.

Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies, the company said.

Listing a cryptocurrency on a major exchange like Binance could increase its visibility and perceived legitimacy, driving up investor demand and positively impacting its value.

However, this is usually the case for when a cryptocurrency is first listed on Binance. In this particular case, those assets were already traded on the exchange, which merely added extended support against different stablecoins. This is perhaps why the listed assets have either shown little-to-no volatility or have slightly retraced in the past 24 hours. The slump coincides with the overall condition of the market, with many leading cryptocurrencies being in the red today (January 31).

Besides adding support to the aforementioned tokens, Binance has alsodecided to remove the following spot trading pairs: BSW/BNB, KAVA/ETH, SCRT/ETH, SNX/BNB, UFT/ETH, and WAN/ETH. The amendments will come into effect on February 2.

The firm did not provide an exact reason for its move, reminding it to conduct periodic reviews of all listed pairs and terminating some due to factors like poor liquidity and trading volume.

Previous similar Binance effortsincludethe delisting of COMBO/BNB, IOST/ETH, CRV/ETH, NEO/ETH, QUICK/TUSD, QKC/ETH, RUNE/EUR, and WOO/BNB.

Prior to that, itaddedFC Barcelona Fan Token (BAR), Manchester City Fan Token (CITY), Paris Saint-Germain Fan Token (PSG), and others as borrowable assets on its Isolated Margin program.

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Two Important Binance Announcements Affecting Many Traders - CryptoPotato

The cryptocurrency world is in a constant state of flux, and two platforms, Binance.com and TapaCoin.com, stand out as leaders in the industry. Let us conduct a detailed comparison of these two exchanges, highlighting their unique characteristics and features.

Binance.com: The Worlds Leader in Crypto Exchanges

Binance.com certainly deserves its status as a leader in the cryptocurrency space. Since its inception, it has become the number one platform in the world thanks to its extensive range of services, high level of security and world-class scale.

TapaCoin.com: An emerging competitor with promise

TapaCoin.com, a unique and promising crypto exchange founded over 10 years ago, shows the potential to become a serious competitor to Binance.com. Lets take a closer look at the key aspects where TapaCoin.com stands out.

TapaCoin.com exhibits impressive speed of transactions, which becomes one of the advantages compared to Binance.com. This is important for traders seeking to minimize order processing time and maximize trading efficiency.

In the field of staking, TapaCoin.com stands out with favorable rates. This makes the platform attractive to those looking to maximize their income from staking various cryptocurrencies.

The TapaCoin.com exchange actively pays attention to security, conducting regular audits and introducing advanced technologies. This builds user trust and ensures reliability in the processing and storage of digital assets.

TapaCoin.com not only provides an opportunity for successful trading, but also pleases its users with regular sweepstakes and bonuses. This creates additional incentives for active participation and attracts new traders.

One of TapaCoin.coms strengths is its large staff, including highly trained technicians and security experts. This guarantees the efficient functioning of the exchange and the protection of user interests.

TapaCoin.com strives to gain global popularity by opening branches in various countries and establishing partnerships with influential figures in the cryptocurrency industry. This not only expands the geography of service, but also helps attract new users.

Users of TapaCoin.com highly rate the platform, noting its reliability, ease of use and quality of services provided. This emphasizes the positive reputation of the exchange in the crypto community.Conclusion: The choice is up to the traderIn conclusion, Binance.com and TapaCoin.com provide unique opportunities for traders. Binance.com is considered an industry leader, while TapaCoin.com is innovating and aiming to become a strong competitor. The choice between them depends on the individual preferences, trading styles and goals of each trader. Both exchanges offer their own unique benefits, and the choice ultimately depends on your preferences and goals in the world of cryptocurrencies.

Disclaimer: The text above is an advertorial article that is not part ofCryptonews.comeditorial content.

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Comparison of Binance.com and TapaCoin.com: When a Leader Meets a Competitor - Cryptonews

Read on to learn why crypto experts are predicting major rallies for Ripple (XRP), Binance Coin (BNB) and NuggetRush (NUGX) and what this means for the future of the cryptocurrency market.

The cryptocurrency market is beginning to recover from the aftermath of the ETF impact on crypto prices. With an improved market sentiment, Matthew Dixon has predicted that Ripple's (XRP) price could increase in the coming weeks.

Meanwhile, Binance Coin (BNB) and NuggetRush (NUGX) have both formed a bullish pattern that could lead to more increases. Read on to learn why crypto experts are predicting major rallies for these top altcoins.

>> Buy NuggetRush Now <<

As the investor sentiment post BTC ETF approval dropped off significantly, Ripple (XRP) was one of the worst affected altcoins. Since the start of 2024, the price of Ripple has plunged by more than 17%.

The Ripple coin dropped to a new yearly low of around $0.50 from a high of $0.645 on January 3. Although the altcoin price is circling around $0.500, Matthew Dixon stated he anticipates XRP to see a recovery in the upcoming weeks.

In the upcoming weeks, the expert anticipates a significant surge for the Ripple coin after it breaks over the $0.5400 resistance. The trend reversal that many others have forecast for XRP will be confirmed by a break over the resistance level of $0.600.

With improved crypto market sentiment, NuggetRush (NUGX) is one of the top DeFi coins that analysts expect to experience a major rally. The crypto community has been attracted to the exciting mining adventure game NuggetRush. In this game, players will compete against miners and mining firms as it was during the gold rush.

NuggetRush will link players to artisanal miners to help improve their mining operations. NuggetRush is now one of the best cryptocurrency investments since players may earn rewards in a variety of ways.

Players may earn rewards as they engage in competition as they search for gold. There are various challenges in the game. These include constructing tunnels and mining shafts, identifying mineral resources, and using the proper excavation equipment.

NuggetRush's marketplace allows users to sell in-game treasures and resources for NUGX, real cash, or gold. NUGX is the utility token of the ecosystem and looks poised for a major rally as its platform grows. Now priced at just $0.018 per coin, NUGX is considered very cheap, given its 50x forecasts from experts.

>> Buy NuggetRush Now <<

For most of 2024, the price of Binance Coin (BNB) has been on a downtrend as the crypto market battled bearish sentiment. BNB dropped to a yearly low of $287 after losing more than 15%. Nonetheless, the development of a bull flag pattern may signal the beginning of a trend reversal.

The bullish pattern is active, and BNB has already risen beyond $310. BNB may rise above the $350 barrier level in the upcoming days if the pattern persists. There are indications that the protest might go on. First, more and more dApps are being used on the BNB blockchain network.

It is evident that bullish momentum is now developing in the crypto market. As some of the top crypto coins, Binance Coin and XRP are expected to rise, but NuggetRush is the expert option with the greatest potential for the upcoming weeks. With a fascinating ecosystem set to debut soon, NUGX may be up for a parabolic rise in 2024.

Visit NuggetRush Presale Website

Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $275. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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Crypto Experts Expect Higher Prices for Ripple (XRP): Binance Coin (BNB) and NuggetRush (NUGX) Set for Major ... - BSC NEWS

Godfrey Benjamin

Binance set to list Solana-based Jupiter (JUP), sending price up 158%

Jupiter (JUP) is on a mega-bullish rampage today as it is riding the positive sentiment surrounding its potential listing on the Binance exchange. At the time of writing, the token is up by 158% in the past 24 hours to $0.02054,per data from CoinMarketCap. For a relatively new token, Jupiter has printed 336% growth in its trading volume, which comes in at $5,421,130.

Jupiter is a decentralized exchange aggregator based on the Solana blockchain. The protocol has been making waves in recent times, underscoring the massive interest generated ahead of the listing on Binance slated for Jan. 31 by 12:30 p.m. UTC. The trading behemoth said it will list new JUP-based spot trading pairs, including JUP/USDT, JUP/FDUSD and JUP/TRY.

The digital currency entered the trading market with a total circulating supply of 1.35 billion JUP, with a billion earmarked for airdrops. The remaining tokens were earmarked for team support, liquidity provision and other related operational boosts.

Jupiter comes at a time when the Solana blockchain isat its peak after years of trading as an underdog, when it fell from its ATH score of $260.06. The massive upshoot in Jupiter aligns with this sentiment with a major price discovery.

Binance plays a crucial role in the crypto ecosystem with thelisting of tokens. With millions of monthly active users, Jupiter is bound to gain massive exposure to the largest traders in the industry, and the upside might shift the overall volume of the asset in no time.

Over the past few months, Binance has made a series of token listings to shore up its overall supported asset base. As an exchange with intense regulatory scrutiny, it alsodelists assets on a regular basis for poor performance.

About the author

Godfrey Benjamin

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news,Cryptonewsand Coingape, among others.

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Binance Listing Sentiment Sends This Solana Token up 158% - U.Today

In a significant move announced this Tuesday, Binance, a major player in the crypto world, is taking a step back from its involvement in Gopax, a South Korean-based company. This decision, following Binances acquisition of a majority stake in Gopax in February 2023, has sparked questions within the industry.

Binance, recognized as one of the largest global crypto exchange platforms, is changing course by opting to reduce its stake in Gopax. This decision aims to address concerns related to reporting requirements associated with Virtual Asset Business Operations [VASPs].

Steve Young Kim, Binances Asia-Pacific director, provided insight, stating that Gopaxs significant debt would be resolved through an equity-to-equity conversion.

We expect that we will be able to provide more specific data on the sale of the shares in some form within a month or two.

Counting Down to Disclosure

Binance has committed to revealing further details on its stake reduction with Gopax in the next two months. The crypto platform is strategizing to convert the debt, paid as GoFi repayment, into equity, thereby selling a portion of its stake to find a practical resolution to the ongoing issue.

Also Read: Binance vs SEC: Join Status Report Reveals Discovery Disputes

Following its exit in January 2021, Binance has been eager to re-enter the South Korean market. Recognizing South Korea as a pivotal hub for crypto exchange platforms, with substantial economic scalability and a thriving talent and startup community, Binance considers these factors as the driving force behind its venture into the region.

Did You Know? Bitcoin ETFs Coming to South Korea? Republic Officials Push for Reconsideration

Despite being on the cusp of finalizing the acquisition deal, Binance faced hurdles in the form of a lawsuit from the U.S. Securities and Exchange Commission (SEC). While Binances previous exits managed to find resolution, the current SEC lawsuit remains an unresolved challenge, creating uncertainty in the market.

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Binance Prepares for Stake Reduction in Gopax; Heres Why - Coinpedia Fintech News

Troubled cryptocurrency exchange Binance.US continues to face pressure from regulators in the United States in the aftermath of the former Binance CEO Changpeng Zhaos guilty plea.

Regulators in Florida and Alaska have told Binance.US that the crypto exchange can no longer serve its residents, The Wall Street Journal reported on Jan. 25.

The Alaska Division of Banking and Securities reportedly denied a renewal of Binance.USs license in January 2024. Cointelegraph approached the agency for a comment regarding the denial but did not receive a response at the time of publication.

Floridas Office of Financial Regulation has also issued an emergency suspension order against Binance.USs money transmitter license. The suspension reportedly came a week after Binances founder and former CEOZhao, also known as CZ, pleaded guilty to charges of violating U.S Anti-Money Laundering policies on Nov. 21, 2023.

In December 2023, a U.S. federal court subsequently accepted Zhaos guilty plea to one count of Bank Secrecy Act violations. As part of the settlement deal, Zhao stepped down as Binance.US chair and transferred his voting rights through a proxy agreement, removing his influence on the firms governance.

Despite the U.S. governments action against the global Binance exchange, its local business, Binance.US, continued to operate in the country. We remain fully operational and are committed to continuing to serve our customers with the same products and services as we always have, the U.S. exchange wrote on Nov. 28.

Related: Binance and SEC lawyers present arguments on crypto as a security: Report

In late December, regulators in Arkansas, Illinois and South Dakota reportedly reached an agreement with Binance.US that would allow it to keep operating in those states. As part of that, Binance.US must make the transfer of Zhaos voting rights irreversible.

After pleading guilty, Zhao has attempted to pledge his $4.5 billion stake in Binance.US as security to be permitted to travel to his home in the United Arab Emirates. According to the court records, Judge Richard Jones denied his request in a private hearing on Dec. 29.

Zhao is set to be sentenced on Feb. 23, 2024 and faces up to 18 months in prison.

Magazine: Coinbase fights SEC in court, SBFs parents seek lawsuit dismissal, and Bitcoin ETFs: Hodlers Digest, Jan. 14-20

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Binance.US gets the cold shoulder in Alaska and Florida - Cointelegraph

Crypto exchange giant Binance is charting a new course in response to heightened concerns over counterparty risk. The exchange is embracing the stability and security of Swiss banking institutions, a move that caters to the demands of its more prominent traders.

This may be a step in the right direction for Binance, which has been restructuring and adapting to global crypto regulations.

This pivot allows select traders the option to entrust their assets with renowned Swiss banks, such as Sygnum Bank and Flow Bank. This departs from the previous arrangement where Binance limited clients to storing assets directly on the exchange or with Ceffu, its exclusive institutional custody partner.

According to a recent FT report, one crypto hedge fund manager said they felt better about using a regulated institution:

Id much rather park my money with a Swiss bank than Binance.

Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?

The inclusion of independent banks in the custodial process is a direct response to traders preferences for more regulated and secure banking options. This is especially true following the 2022 collapse of FTX, which lost $9 billion in funds.

Binance itself is on thin ice after a massive $2.7 billion dollar fine from the CFTC for derivatives trading violations. The exchanges former CEO, Changpeng CZ Zhao, is still embroiled in a battle with regulators. The court is set to carry out his sentencing in February.

Sygnum Bank, one of Binances counterparty custodians, recently had a successful funding round, amassing $40 million. This financial infusion is set to bolster Sygnums expansion and innovation, offering sophisticated, regulated products and services.

A press release provided additional details on the usage of the funds:

Proceeds from this financing round will be used to expand Sygnums geographic reach into new markets and accelerate the development of Sygnums fully regulated products such as its B2B (bank-to-bank) platform, which now powers the crypto offering of over 15 banks and financial institutions globally.

Read more: 7 Best Binance Alternatives in 2024

The banks growth and focus on secure crypto solutions also align with the markets direction towards more regulated trading ecosystems.

Binances strategy and Sygnum Banks growth mirror the crypto sectors trend towards more regulation, institutional involvement, and security. All in all, these developments signal a maturing market that prioritizes customer protection, compliance, and stability.

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCryptos editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

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Binance Touts Swiss Banks to Expand & Enhance Custody Security - BeInCrypto

Binance seemingly forced to cut stake in South Korean exchange GOPAX  FinanceFeeds

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Binance seemingly forced to cut stake in South Korean exchange GOPAX - FinanceFeeds

In a significant development for the Solana-based decentralized exchange, Jupiter Exchange (JUP), Binance, the worlds leading crypto exchange, has announced its decision to list the JUP token on its platform. Meanwhile, with a surge in trading volume, Jupiter Exchange has now claimed the second spot among decentralized exchanges, making waves in the crypto community.

Notably, Binances move to list JUP is poised to amplify the tokens reach and impact in the ever-evolving crypto landscape.

Binances recent announcement signals a major endorsement for Jupiter Exchange, as the global exchange giant declares its intention to list the JUP token. Starting January 31, 2024, at 15:30 (UTC), Binance will open spot trading for JUP with trading pairs including JUP/USDT, JUP/FDUSD, and JUP/TRY.

In addition, the listing fee for JUP is set at 0 BNB, reflecting Binances support for this Solana-based DeFi protocol. Simultaneously, Binance will introduce JUP as a new borrowable asset with a new margin pair on the Isolated Margin within 48 hours from the listing date.

Meanwhile, the announcement comes amid CoinGecko data revealing Jupiters remarkable ascent in the decentralized exchanges landscape, securing the second position in trading volume. The data showed that Uniswap V3 (Ethereum) leads the pack with approximately $781.25 million in volume over the last 24 hours, while Jupiter claims the second spot with an impressive $629.32 million in trading volume during the same period.

This surge underscores Jupiters growing popularity and dominance, setting the stage for increased attention from crypto enthusiasts and investors.

Also Read: XRP Whale Dumps 29 Mln Tokens, Price To Dip Below $0.5?

As Binance opens its doors to Jupiter Exchange, the Solana-based DeFi protocol is poised for heightened visibility and accessibility. The collaboration with Binance, coupled with its impressive trading volume, positions Jupiter as a noteworthy player in the decentralized exchanges arena.

Meanwhile, investors and enthusiasts alike will be closely watching the impact of this partnership on Jupiters trajectory, anticipating further developments in the rapidly evolving world of decentralized finance. Its worth noting that several other leading crypto exchanges have also unveiled plans to list the JUP token on their platform, indicating the growing interest of the crypto community towards the Solana-based project.

For instance, leading cryptocurrency exchanges, including Bybit, LBank, and BitMart, are set to list Jupiter (JUP) on their platforms. Bybits listing is effective from January 31, 3 PM (UTC), subject to liquidity requirements. Meanwhile, LBank has revealed plans to list JUP soon, adding to the coins accessibility.

On the other hand, BitMart announced the primary listing of Jupiter, with trading slated to commence on January 31, 4 PM (UTC). These listings signify growing interest in Jupiter and highlight its expanding presence in the crypto market.

Also Read: Bitcoin (BTC) Futures Demand Dooms As Investors Flock to ETFs

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Jupiter Exchange: Binance To List Solana-Based Jupiter As Trading Volume Hits $630 Mln - CoinGape