According to Karony, other future plans include a yet-to-be-unveiled initiative that’s “fuel to the freedom of the un-banked.” And while SafeMoon was created on the Binance Smart Chain blockchain, the company said that it’s in the process of launching its own exchange platform this summer to establish a liquidity pool.
Brooks quit his role at San Francisco-based Binance.US, citing "differences over strategic direction" in the Twitter post. He worked only three months at the company, which is the American counterpart to Binance — the Chinese company that operates the largest cryptocurrency exchange by volume.
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Users can buy SafeMoon by setting up a crypto wallet on the Binance Chain Network and add Binance (BNB) coins to your account.
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A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
A number of figures have significantly impacted the cryptocurrency industry throughout its time. Satoshi Nakamoto kickstarted the sector with the creation of Bitcoin (BTC). Known for building Ethereum (ETH), Vitalik Buterin has also notably impacted the cryptocurrency movement. With Ethereum came a whole world of extra tokens built on its network called ERC-20 tokens.
Despite its size and name recognition, Binance has had issues with regulators. In 2017, Binance left China and re-located to Japan and Taiwan before eventually moving to Malta. However, in February 2020, after Malta announced that Binance was not actually within its jurisdiction, the exchange quickly changed positions and declared that it doesn’t have a headquarters because Bitcoin doesn’t have a central headquarters.
Litecoin zoomed 18.71% to $246.43 and Uniswap was trading 3.31% higher at $26.65.
Cryptocurrency can gain value on exchange platforms. It increases in value based on supply and demand.
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Every trade contributes towards auto-generating liquidity that goes into multiple pools used by exchanges
SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
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The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
Brian Shroder, who was previously an executive at Ant Group Co. and Uber Technologies Inc., will oversee the crypto exchange’s strategy, execution, fundraising, business and corporate development, and manage its legal, human resources and product and technology functions, the company said in a statement. Brian Brooks, who had been CEO, resigned recently just months into his tenure amid a slew of compliance setbacks and regulatory scrutiny tied to the crypto exchange’s sister company.
Business News›Markets›Cryptocurrency›Binance US CEO Brooks resigns just three months into job
CryptocurrenciesAsia crypto sector stays confident despite China regulatory curbs