Binance proposes to regulate the cryptocurrency market

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Weekly Market Summary

Binance proposes to regulate the cryptocurrency market. The largest exchange calls for the creation of a global regulatory framework for the crypto market and presents a list of users’ basic rights.

“Crypto belongs to all of us. But there’s still work to be done if we want this breakthrough innovation to become part of our daily lives. Like seat belts in a car, a more regulated crypto market provides greater protections for everyday users. To welcome the next billion users, Binance is working with regulators and policymakers to support a global framework that protects users without limiting growth and innovation.”

Singapore-based crypto exchange Crypto.com has received the rights to rename the “Staples Center” Los Angeles stadium to Crypto.com Arena. The exchange has also become an official partner of the Los Angeles Lakers and LA Kings.

The deal between Crypto.com and Staples Center owner and operator AEG totals $700 million with 20-year rights.

Quick weekly news:

• Barbados to Become First Sovereign Nation With an Embassy in the Metaverse
• KuCoin Labs Launches $100m Venture Capital Fund To Empower Early-Stage Metaverse Projects
• Avalanche Hits All-Time High Above $100
• VeChain upgrades to Proof of Authority 2.0 consensus mechanism

Other notable events include:

• Crypto Facilities Receives UK FCA Approval
• Twitter has no plans to invest in crypto

Crypto Facilities Receives UK FCA Approval

Kraken’s subsidiary Crypto Facilities crypto exchange received a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA).

This license means that the company complies with the country’s money laundering laws concerning its activities in the crypto field. It also shows that the exchange maintains the same anti-money laundering standards that FCA regulated banks must meet.

With this new license, Crypto Facilities will be able to expand its product range and better serve institutional clients who are mandated to trade on licensed platforms.

Twitter has no plans to invest in crypto

As Twitter CFO Ned Segal stated in his Monday’s interview with WSJ that investing some of Twitter Inc.’s corporate cash in crypto assets such as BTC “doesn’t make sense right now.”

“We [would] have to change our investment policy and choose to own assets that are more volatile,” Mr. Segal said, adding that the company prefers to hold less volatile assets such as securities on its balance sheet.

• Spot trading: At the spot trading front,  Bitcoin (BTC) and VeChain (VET) have become top dogs. SHIBA INU (SHIB) and THETA (THETA) were pushed to third and fourth places.
• Derivatives: Bitcoin (BTC) and Chainlink (LINK) have become the most traded currencies as to trading derivatives. Ethereum (ETH) is following these two head to head with XRP (XRP) and FTX Token (FTT) taking fourth and fifth places.

New Listings on KuCoin:

• MANTRA DAO (OM/BTC OM/USDT)
• Trust Wallet Token (TWT/BTC TWT/USDT)
• City Coin (CITY/USDT CITY/BUSD CITY/BNB CITY/BTC)
• fantomGO (FTG/USDT)
• Automata Network (ATA/BTC ATA/USDT)
• Frax Share (FXS/BTC FXS/USDT)
• Loopring (LRC/ETH LRC/BTC)
• Deeper Network (DPR/USDT)
• Cryowar Token (CWAR/BTC CWAR/USDT)

New Listings on Binance:

• Powerledger (POWR/BUSD POWR/USDT)

By the way, our PRO plan includes new Exchange Listing alerts for more than 30 exchanges in our app. Become a PRO and receive an instant notification when a new coin is listed on the exchanges you’re interested in.

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DogeBonk is a decentralized community token on Binance Smart Chain (BSC) blockchain with automatic yield generation. The total supply of the DOBO coin is 1,000,000,000,000,000 DOBO 30% of which was burned. The project was fairly launched with no presale and the ownership is renounced. Instead, DogeBonk is trying to show what meme coins should be all about: memes.

5% tax is applied to all transactions, which are distributed to DOBO holders just for holding their tokens. Another 5% is added to a forever locked liquidity pool to generate an ever-rising price floor.

DYOR

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HNT is a blockchain-based decentralized network for Internet of Things (IoT) devices. It was launched in July 2019 and allows low-powered wireless devices to communicate with each other and send data across its network of nodes. These nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT.

Helium’s aims to prepare IoT communication for the future by finding flaws in current infrastructure.

Recent announcements:

• Helium and Dish Network Collaborate to Expand its Blockchain-based Distributed 5G Platform
• Helium (HNT) Reaches New All-Time High as it Moves Into Top 50

🔍 DYOR:

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We have prepared top-performing coins of Nov 17th for you!

The Sandbox has managed to become the best performing asset among TOP-100, gaining 30.41% within the last 24 hours.

Livepeer was the worst-performing asset among TOP-100, losing 11.07% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter.

Top cryptomeme of the week

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