Binance Wants To Be “Licensed Everywhere”

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Weekly Market Summary

Binance exchange CEO Changpeng Zhao announced he wants to be licensed everywhere and is considering setting up several regional headquarters.

“We want to be licensed everywhere,” CZ said to Reuters, also adding that the exchange wants to “work with regulators everywhere.”

Binance also lowered withdrawal limits for users with only basic identity verification. From now, users who have completed only basic account verifications will be unable to withdraw more than 0.06 Bitcoin (BTC) per day, worth roughly $2,400 at the time of writing. Previously, the maximum daily withdrawal amount was capped at 2 BTC, or about $80,000.

Amazon denies reports of accepting Bitcoin as payment. Despite this, the firm is open to the possibility.

After Amazon firmly denied that it planned to accept cryptocurrency payments before the end of the year, Bitcoin has slightly cooled.

A spokesperson for the company told Reuters: “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.”

Quick weekly news:

• Binance’s CZ Is Looking for His Replacement
• Monero Has ‘Significant Bug’
• Tesla Holds on to Bitcoin But Reveals $23M Impairment Charge
• Bitcoin Returns to $40,000

Other notable events include

– Mastercard Launches New Start Path Cryptocurrency and Blockchain Program for Startups

– Ethereum surpasses Bitcoin in terms of ROI and trading volume growth

New Start Path Program for Startups

Mastercard announced the launch of a new worldwide startup engagement program called Start Path, which will help fast-growing digital assets, blockchain and cryptocurrency businesses.

Seven startups have joined the program as part of Mastercard’s digital assets work. This list includes GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus, and Uphold, which together with Mastercard seek to expand and accelerate innovation around digital asset technology and making it safer and easier for people and institutions to buy, spend, and hold cryptocurrencies and digital assets.

Ethereum surpasses Bitcoin in terms of ROI and trading volume growth

According to a Coinbase report, ETH trading volume was $1.4 trillion for half a year, an increase of 1,461% from $92 billion in the second half of 2020. BTC trading volumes rose 489% to $2.1 trillion over the same period.

In addition, Ethereum surpassed Bitcoin, the S&P 500, and gold in return on investment, up 210% in six months.

Analysts associate such indicators with the rapid development of the DeFi sector, optimism about the transition to Proof-of-Stake, as well as with the activation of EIP-1559, which will allow burning part of the ETH paid as commissions.

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• Spot trading: There are two favorites at the spot trading front: Solana (SOL) and Bitcoin (BTC). Two top dogs have overtaken Ethereum (ETH) and Stacks (STX) to push them to third and fourth places.
• Derivatives: Bitcoin (BTC) and Ethereum (ETH) have also become the most traded currencies as to trading derivatives. Cardano (ADA) is following these two head to head with Axie Infinity (AXS) and SushiSwap (SUSHI) taking fourth and fifth places.

New Listings on CoinbasePro:

– Paxos Standard (PAX/USD PAX/USDT)
– Fetch.ai (FET/USDT FET/USD)
– Polygon (POLY/USD POLY/USDT)
– Harvest Finance (FARM/USD)

New Listings on Binance:
– Coin98 (C98/BTC C98/BNB C98/BUSD C98/USDT)
– QuickSwap (QUICK/BUSD QUICK/BNB QUICK/BTC)
– LTO Network (LTO/BUSD)
– DeXe (DEXE/USDT)

New Pairs on Kucoin:
– Shyft Network (SHFT/USDT)
– CoinBurp (BURP/USDT)

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