In private, Zhao has bemoaned that Binance needs to carry out checks on its customers. “Binance has the discretion to pull out from the deal at any time,” Zhao, more popularly known as CZ, cautioned. “Binance is the immediate trigger, but FTX should resolve its relationship with Alameda. Zhao said the firm was liquidating its FTT holdings as a “post-exit risk management,” giving some credence to a widely circulated rumor about Alameda Research’s concerning financial health. Zhao (pictured above) said Binance reached the decision after the three-year-old exchange FTX asked the crypto behemoth for help. “CZ has done, 바이낸스 레퍼럴 (abc-test.ru) and will continue to do, an incredible job of building out the global crypto ecosystem, and creating a freer economic world,” Bankman-Fried said in a tweet. Find out more about this launch on the Binance Blog! “Currently we have $15 million worth of deposits on FTX to facilitate business operations and client trades,” Coinbase CFO Alesia Haas wrote in a blog post. If Alameda’s trading operations impact FTX’s customer confidence (perception of Alameda trading against users on FTX and Alameda’s state of finances), then there is more downside to running Alameda than otherwise,” a Bernstein analyst wrote in the note.
FTX needs to completely ring-fence itself and potentially shut down the Alameda prop trading business. One can invest in this crypto to gain access to the distributed data storage network, which seeks to convert unused data into a powerful business resource. FTX and its FTX US business raised over $2.2 billion across several funding rounds, according to Web3 Signals, a crypto dealbook. FTX was valued at $32 billion in its most recent funding round (a Series C) in January this year. Westpac rolled out a series of scam protection measures on Thursday, blocking customers from sending Australian dollars to “high risk” exchanges like Binance. “This will clear out liquidity crunches; all assets will be covered 1:1. This is one of the main reasons we’ve asked Binance to come in. Binance found itself all but shut out of the US after the Securities and Exchange Commission filed a lawsuit against the cryptocurrency exchange in June. So far, none of the current marketplaces have secured the SEC imprimatur as regulated securities exchanges for digital tokens. The SEC accused Binance of violating securities laws and operating an illegal exchange in what the SEC chair, Gary Gensler, called a “web of deception”. Binance is looking to new markets following an SEC lawsuit in June.
Just 24 hours after the lawsuit was filed, customers pulled almost $800 million from the exchange. But “the important thing is that customers are protected,” said Bankman-Fried, or as many call him, SBF. Binance is fighting to retain banking services in Australia, as it contests allegations overseas it improperly attracted customers and knowingly facilitated money laundering. This is of course in central banking also known as the rules versus discretion debate. Honduras’ central bank warns against cryptocurrencies. However, Binance’s prospects appear rosier in China – even though cryptocurrencies are illegal there. ● Dandelion transaction relay: this proposed privacy-enhancing improvement to the way new transactions are initially relayed was briefly discussed on the bitcoin-dev mailing list this week. Staking generates income on certain crypto when it’s used to validate transactions in the currency. Segwit transactions continue to include a legacy txid as described here, but also include a new wtxid field. Binance, the world’s largest crypto exchange, is the first investor that backed FTX, but as the younger firm grew in popularity, the relationship between the two started to wither.
Binance said Tuesday it has signed a letter of intent to acquire its most formidable rival FTX, delivering a surprising twist to days-long public spat between the world’s two largest crypto exchanges that contributed to several digital tokens taking a tumble Tuesday. China is Binance’s largest market, with almost 1m active users, despite cryptos being illegal. Tokens worth $90 billion were traded on Binance in China in May, The Wall Street Journal reported. Yet this doesn’t appear to have deterred traders from using Binance through VPNs and foreign residency cards, The Wall Street Journal reported. And while we’re on the subject of high transaction fees, it’s important to re-emphasize the high fee for using a debit card, at 3.75 percent. For example, Alice receives some bitcoins to a particular address; she then spends those bitcoins to Bob using the new sighash flag. For example, the Trezor and Electrum wallets each provide message signing support for P2WPKH and P2SH-wrapped P2WPKH addresses.