With the help of the Splyt crypto alliance, Binance hopes to become a super app

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Quick weekly news

DeFi can be saved from hardship thanks to Bitcoin and the Lightning Network

Given the current turbulence in the decentralized finance (DeFi) industry, Bitcoin (BTC) maximalist and MicroStrategy CEO Michael Saylor believes that Bitcoin and the Lightning network can help the DeFi market recover.

The DeFi sector is going through a hard patch, with two big protocols, Terra and Celcius, experiencing severe problems within a month of one another. In a recent tweet, Saylor also indicated that Bitcoin and Lightning might help stabilize the business.

Bitcoin provides a “sound ethical, economic, and technical foundation for DeFi,” according to Saylor. The Lightning protocol and the BTC token will be utilized to build the next iteration of DeFi, he continued.

On Tuesday, Saylor responded, noting several critical challenges in the DeFi industry. According to Bloomberg, Mahin Gupta, the founder of digital asset custody company Liminal: “What is happening with Celsius will have serious repercussions for the industry. It’s a not-insignificant player, and its apparent failure will have ripple effects.”

Chainlink has partnered with Moonbeam to supply Polkadot developers with price data

Chainlink (LINK), a decentralized oracle network, has incorporated its Chainlink Price Feeds service into Moonbeam, a smart contract parachain on Polkadot (DOT), to offer data to developers on the platform.

Going live on Moonbeam, according to Chainlink’s team, will provide those that develop on the platform access to pricing data collated and aggregated from various exchanges. As a result, developers of decentralized finance (DeFi) applications may now add pricing accuracy to their apps (DApps).

Access to off-chain asset values has several benefits in DeFi, according to Moonbeam Founder Derek Yoo, but resilience to assaults and price data manipulation is difficult to achieve. The Moonbeam creator, on the other hand, feels that Chainlink will be able to fix the problem and will be able to assist DeFi developers on their platform. As he explained: “This Chainlink integration is one of the last integrations needed to provide a full set of building blocks to Moonbeam DeFi developers.”

The CEO of Binance intends to take advantage of the crypto winter

In a recent interview, Binance CEO Changpeng Zhao, often known as “CZ,” suggested that a hypothetical crypto winter is excellent for business.

He responded strongly when asked how Binance will cope through the current crypto winter, following news of recruiting freezes at Gemini and Coinbase. “It’s not the first time we’ve gone through a crypto winter. If we are in a crypto winter, it would be my third and Binance’s second. So it’s not the first time we’ve been through this.”

Changpeng Zhao has taken on a risky task for many exchanges: hiring new workers during a down market in order to capitalize on the next prospective bull cycle. “Right now is much better to hire, during bull markets, everyone is starting their own projects, and everyone is getting paid a ridiculous amount of compensation.” Continuing, he stated: “Now the markets are more balanced, so top talents are available, and we want to hire them.”

With the help of the Splyt crypto alliance, Binance hopes to become a super app

Binance, the world’s largest cryptocurrency exchange, has teamed up with Splyt, a “super app enabler,” to add payment alternatives to its app. Cryptocurrency is one of the payment choices available for Splyt services.

When the connection goes live, Binance users can pay for ride hailing services, as well as “bikesharing, scooters, airport transfers, public transport and even food delivery.”

Binance’s spokesman informed that “excited to see crypto and blockchain taking on more use cases and real-life applications.”

“Over the past year alone, we’ve observed an increase in retail and institutional interest in crypto and its use cases, including as a medium of exchange. Crypto has the potential to empower individuals with greater economic independence.”

Binance CEO Changpeng Zhao, known as “CZ,” helped to break the news on Twitter as usual.

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Top Crypto Meme of the Week

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