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Binance Team to Burn all the Allocated BNB Token

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In a Twitter post, CEO Changpeng Zhao stated that the Binance exchange team would burn all the allocated BNB tokens. The exchange team was allocated 40% of the total BNB minted during 2017.  Calculating almost 80 million BNB, equivalent to almost $37 Billion, and will be burned instead of selling at a profit.

Binance Team Plans to Burn Allocated Tokens

The first initial coin offering (ICO) of 100 million BNB was completed by the Crypto Exchange Binance on 21 July 2017. All the BNB tokens were created before the ICOs and were sold within a 20 days period. 

According to the data, BNB was trading at $474, which has dropped by 10.20% over the last 24 hours.

The announcement by Binance follows the launch of a blockchain network exchange. The network aims to compete with Ethereum for a share of the decentralized finance.

The statement from Binance reads, “It’s used on multiple DeFi platforms built on BSC that provide financial payments solutions. With the growth of BSC, more people are using BNB, and the more utility it has, the more value it gains.” 

Growth in Market Value of Binance Token

In Q1 2021, Binance recorded growth of 260% and 346% in traded volume and users respectively, while the total market value of cryptocurrencies recently surpassed $2 trillion. This indicates accelerated crypto adoption by everyone around the world, from casually engaged individuals who trade every now and then to institutions that keep crypto in their treasuries and even engage in using crypto for their operations.

“People always told me BNB was undervalued, and I, of course, always biasedly agreed with their opinions. But I might never know how much undervaluation there is for BNB, or the entire crypto industry, for that matter. Given that, the numbers I stated earlier for BSC would provide some insight on that.” said Binance CEO. “I want to make it clear that we are very aware of this issue. It’s our number one priority. We have an aggressive roadmap for improving all parts of our customer support process,” he added. 

Undeniably, the decentralized finance sector has surged in the last few months, and the industry will boost the BNB tokens further.

READ  Kraken Integrates 11 New Trading Pairs To Transform Popular Currencies

#Binance Coin (BNB). #Crypto Exchange Binance #Initial Coin Offering (ICO)

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Source: https://www.cryptoknowmics.com/news/binance-team-to-burn-all-the-allocated-bnb-token

Blockchain

ContinuumBlockLegs May Blockchain Legislation Summit Friday May 14

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Continuum Market and Kristina Bruhahn, present #ContinuumBlockLegsMay Blockchain Legislation Summit, the global virtual summit monthly meeting series with upcoming dates kicking off Friday, May 14th aims to foster US State & Federal Bipartisanship and Global Cross-Border policy discussions and consensus to create safe harbors of commerce in blockchain.

Bring your curiosity and connect with a global community through breakout sessions and networking receptions. Participate in main stage content and roundtables on blockchain policy, blockchain brands and product offerings, and the latest in blockchain and cryptocurrency investing.

Participants will have the opportunity to listen to our May Blockchain Legislation Experts.

  • Gerard Dache Founder & Executive Director, Government Blockchain Association (GBA)

○       Well Known for leading a global organization and supporting organizational members in their pursuit of blockchain based solutions to public sector challenges.

  • Mark Waser, Chief Technology Officer, Government Blockchain Association (GBA)

○       Well Known for his 35+ years of experience in AI, machine learning, business intelligence, and blockchain-based crowd-sourcing and collective intelligence.

  • Dina Ellis, Senior Legislative Advocate and Government Affairs Specialist, Paul Hastings

○       Well known as an influencer in Washington DC for FinTech, JOBS Act, Crypto, STO, Blockchain and DeFi Legislation

Global Blockchain Association Report: The impact on cryptocurrency adoption on government, a study produced by the government blockchain association tax working group

https://bit.ly/crypto-adopt-gov

Tickets are available at https://bit.ly/ContinuumBlockLegsMay  Sign up today!

United in the mission to create safe lanes of commerce faster than legislation has ever been crafted before, trusted blockchain brands actively want to work with State and Federal Legislators throughout the fast paced 2021 docket.

Continuum’s monthly #BlockLegs series exists to expedite these critical conversations and connect to blockchain consumers. We keep the tables open all weekend so you can leave a message for the legislators of the US and all Cross Border Payment Global Policy if you were not able to be there Friday night.

We want your voice to be heard. We want you to understand these issues. We want you to be informed and we want your informed voice to echo in global legislation enabling safe commerce.

Hopin provides a familiar conference virtual experience with stage, sessions (roundtables) and networking 1-1.

Together, we are teaching the world to speak Blockchain. Join the conversation.

Expo Booths and Roundtables are available all weekend to foster discourse and collaboration.

This Global Cross-Border and US Bipartisanship inclusive event is brought to you by  #Continuum3000

Continuum Transparency Marketplace | Blockchain for the 100%

Our audience consists of all levels of Blockchain Interested Consumers; Wall Street, Affluence Network, Blockchain Brands, Blockchain Legislation & Thought Leaders, Crypto Celebrities, Blockchain Newbies, Blockchain Accredited Education and more.

Continuum Market evaluates Blockchain products called Cryptocurrencies, identifying their underlying asset attributes and resulting behaviors in consumer adoption and trading markets.

For 3 years, Continuum Markets has identified Crypto Correlations to Global & US economy indicators such as VIX, Nasdaq 100, SP 500, Libor, Nikkei 225, Futures & Open Interest, GDP for US, EU, Brexit, China, GCC/MENA, Precious Metals, Edible & Non-Edible Commodities. Dashboards & APIs coming in Q2 2021.

Continuum uses data science and natural language processing to create beautiful and easy to understand dashboards and analytics so you can benefit from our insights.

Data Dashboards, Analytics and Insights

Blockchain Networking & Deal Flow

Education & Skills for the New Economy

Comprehension | Community | Commerce | Credibility

www.continuum.market

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Samsung Facilitates Blockchain Use on Galaxy Devices

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Samsung issued an official announcement to inform users that they will now be able to manage and trade cryptocurrencies from third-party wallets directly on Samsung Galaxy smartphones.

This update will provide blockchain users with a more convenient and faster way to process transactions between digital assets, by transferring funds from cold storage wallets to the Samsung blockchain.

Samsung’s Galaxy series smartphones currently also support hardware wallets including Ledger Nano S and Ledger Nano X.

Since the Samsung Blockchain KeyStore first launched in 2019, there have been four cryptocurrencies supported by the wallet: Klaytn (KLAY), Ethereum (ETH), ERC-20 tokens, Bitcoin (BTC), and TRON (TRX).

It also expanded its encryption products to decentralized applications (DApps). There are now more than 40 Dapps integrated on Samsung’s blockchain platform, and developers can build their own applications on this basis for applications in finance, social media, and even the video games industry.

For the management of virtual currency, the security of the device is of utmost importance. The private keys used for cryptocurrency and DApps are encrypted and stored in an area isolated from the main operating system.

Samsung Electronics wrote:

“This information is further protected by a secure processor and can only be accessed by providing the asset owner’s PIN or fingerprint.”

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/samsung-facilitates-blockchain-use-galaxy-devices

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Bitwise Launches Crypto Industry Innovators ETF

Bitwise has announced the launch of its ‘Bitwise Crypto Industry Innovators ETF” (BITQ) that offers investors exposure to companies in the crypto sector.

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Crypto asset management firm Bitwise has announced the launch of its Bitwise Crypto Industry Innovators ETF (BITQ) that offers investors exposure to companies in the cryptocurrency sector. The Bitwise Crypto Industry Innovators ETF is already live on the New York Stock Exchange with the ticker BITQ. The index captures the companies engaged in the crypto sector and has at least $100 million of liquid digital assets on their balance sheet.

Bitwise Launches Crypto Industry Innovators ETF (BITQ)

Asset management firm Bitwise has designed a Bitwise Crypto Industry Innovators ETF (BITQ) focused on thirty companies in the crypto market with at least $100M of liquid crypto assets on the balance sheet.

READ  Enjin Coin Became First Authorised Gaming Crypto by JVCEA

Also, these companies must have 75% of income derived from cryptocurrencies or have 75% of their net assets in crypto.

In the announcement release, Matt Hougan, CIO of Bitwise, said:

“Like e-commerce and mobile before it, crypto is a disruptive technology creating massive opportunities for new companies to emerge as winners. Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto, and more to come. BITQ aims to identify these businesses and give investors access.”

Previously, Bitwise applied with the SEC to launch such a fund, but the firm withdrew its application from the regulatory agency earlier this year.

Hunter Horsley, CEO of Bitwise, says that BITQ aims to make crypto investment opportunities available through traditional investing platforms:

READ  Bitcoin Price Will Rally To $100,000: Binance CSO

“With BITQ, our aim is to make crypto investment opportunities available through traditional investing platforms and a familiar, liquid, and cost-effective ETF. We are thrilled to see this space continue to grow as investors increasingly gravitate toward this transformative asset class.”

Bitwise 10 Crypto Index Fund Available to Investors on OTC Market

With over $1.5 billion in assets under management, the firm has previously launched a number of crypto index funds, including a DeFi index. Currently, Bitwise sponsors over five other crypto-related funds namely, Bitwise 10 Crypto Index Fund, Bitwise DeFi Crypto Index Fund, Bitwise Bitcoin Fund, Bitwise Ethereum Fund, and Bitwise 10 Index Offshore Fund.

Most are private placements available only to accredited investors but the Bitwise 10 Crypto Index Fund is made available to all investors on the OTC market.

READ  Bitcoin Satoshi Vision (BSV) Unconfirmed Transactions (Mempool) Spike

#BITQ #Bitwise #Bitwise Crypto Industry Innovators ETF

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/bitwise-launches-crypto-industry-innovators-etf

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Hong Kong in Talks with China to Stretch Cross-Border Testing of Digital Yuan

After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing.

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After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing. This has marked yet another step toward wider adoption of the currency.

Hong Kong to Stretch Testing of Digital Yuan to China

The Monetary Authority of Hong Kong has recently conducted tests with the Digital Currency Institute of the People’s Bank of China.

In addition to this, the Hong Kong Monetary Authority said in an e-mailed response to the questions asked that it involved a bank designated by the mainland authority, as well as the merchants and bank staff.

The e-mailed response said:

“We have tested the use of the related app, system connectivity, and certain use cases such as cross-boundary purchases.” 

Along with this, the statement said:

“We are discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.”

Also, it should be known that the People’s Bank of China is pretty ahead of other major central banks in the development of its own digital currency.

The bank is looking forward to replacing cash and maintaining control over a payments landscape that has become increasingly dominated by technology companies not regulated like banks.

Payment Infrastructure Underpinning e-CNY can Address Substantial Portion of Cost Base

As revealed in the report released on Wednesday by Oliver Wyman, the usage of the Digital Yuan in Hong Kong could lead to a much faster and cheaper cross-border payment and clearing process. 

Michael Ho, the Principal of Financial Services at Oliver Wyman and Co-Author of the report said:

“If the payment infrastructure underpinning e-CNY were to roll out for cross-border payments at scale, we believe it can address a substantial portion of this cost base.”

China could promote the overseas use of digital yuan starting with the Greater Bay Area, a massive urban cluster that includes Shenzhen, Macau, and Hong Kong.

READ  Diginex Introduces EQUOS.io In Singapore To Start Derivative Product Trading

#Cross-border transactions #Digital Yuan #Hong Kong

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/hong-kong-in-talks-with-china-to-stretch-cross-border-testing-of-digital-yuan

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