The Biden Administration Wants New Legislation to Regulate Stablecoins. Here’s What That Means for Investors
GARY GENSLER: This asset class is rife with fraud, scams and abuses in certain applications. There's a great deal of hype and spin about how crypto assets work.
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The Binance international exchange offers a huge variety of cryptocurrencies. This includes the top 20 coins such as Bitcoin, Ether, and Ada. In addition, Binance also offers several hundred less well-known altcoins. Binance also offers many trading pairs. In total, Binance offers exchange in over 500 cryptocurrencies and trading in more than 1200 trading pairs. This number is lower than on leading decentralized platforms like Uniswap but is still among the highest centralized exchanges.
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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.
It hasn’t been plain sailing — the firm lost $40 million and briefly paused trading last month following a “large scale” hack. Search x Dive Brief Binance.US CEO resigns By Robin Bradley Associate Editor Jack Taylor / Stringer via Getty Images
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
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But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
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While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
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If you’re a Robinhood user, you should definitely be changing your password and make sure it’s a unique one.
Community Focused and fair launch. The dev team burned all of their tokens and participated with everyone else.