NEW YORK -- The CEO of Binance.US, the American arm of the world's largest cryptocurrency exchange, has resigned, robbing the company of a heavyweight former regulator as it grapples with increasing scrutiny from authorities around the world.
Ethereum gained 1.66% to $4,808 and Dogecoin was trading 4.08% higher at $0.2837. Digital token Stellar climbed 3.56% to $0.3817 and XRP rose 0.01% to $1.27.
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Gas shortages at the pumps have spread from the South, all but emptying stations in Washington, D.C., following a ransomware cyberattack that forced a shutdown of the nation’s largest gasoline pipeline.
Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
Released in 2011, Litecoin (LTC) uses the same basic structure as Bitcoin. Key differences include a higher programmed supply limit (84 million units) and a shorter target blockchain creation time (2.5 minutes).
There have been previous reports that Binance.US keeps users’ USD in FDIC-insured accounts, but posts on the Binance.US site containing that information have since been deleted. While it doesn’t guarantee the same in case of a Binance.US hack, the international version of the exchange, Binance, covered all consumer losses after a $40 million hack in 2019.
Baker, M. and J. Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, The Journal of Finance 61 (4), 1645–1680.
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He added: "You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed."
Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade - for which there are penalties in place.
Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.
Changpeng Zhao increased crypto-asset availability as one of the founders of Binance, which has grown into one of the largest crypto exchanges. Sam Bankman-Fried, co-creator of the FTX digital asset trading platform, serves as another important individual in the industry that impacts trading, decentralized finance (DeFi) and other aspects of the crypto space.
Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls.
The SafeMoon exchange is a revolutionary new idea that will bring tokenomics to all of crypto on its platform. We call this Cryptonomics.
As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
Bitcoin is the world’s most widely used cryptocurrency and is generally credited with bringing the movement into the mainstream.