1) Andreas Antonopoulos on Bitcoin’s potential: In a new podcast, Antonopoulos discussed how cryptocurrencies, including Bitcoin, can help every individual earn financial independence from existing institutions. While explaining the underlying technology, he clarified the common misconception associated with proof-of-work and energy wastage.
2) Ripple’s Q2 2019 XRP sales: In an attempt to address concerns over inaccuracies in the reported volume by cryptocurrency exchanges globally, Ripple, the US-based blockchain tech firm, in a recently released post, introduced a new set of steps and a new approach to the second quarter of 2019.
3) Harmony trending on Binance DEX: At press time, Stephen Tse, the Founder of Harmony, announced that the ONE token accounted for 99.19% of the total volume on Binance DEX, making it the largest token being traded on the largest decentralized exchange in the world.
Read more at https://bit.ly/317IMWj
4) Bitcoin [BTC] drops below $8,000: For several days, Bitcoin was sluggish and remained below the $9,000 mark, trading sideways and exhibiting little to no drive for an upward push. After reaching the peak of $8,950, a major sell-off ensued on several exchanges, with the cryptocurrency falling by 3.07 percent in one hour, immediately following the 2.44 percent gain that pushed BTC’s price to the aforementioned price point on 30 May.
5) Monero’s Riccardo Spagni on Bitcoin: Speaking with Shannon Grinnell for ‘Speaking of Crypto’ podcast, Riccardo Spagni aka fluffypony listed the coin’s ten years of existence as one of its advantages, adding that in these ten years, the coin proved to be robust. Meanwhile, the core developer of Monero also stated that the coin’s biggest advantage was its network effect, which no other currency has been able to achieve.
6) Atlantic Financial Blockchain Labs on BTC: Anthony Pompliano, a major Bitcoin proponent who constantly promotes the cryptocurrency ecosystem, made the news after he claimed that banks could soon be replaced. However, Bruce Fenton, CEO of Atlantic Financial Blockchain Labs, begged to differ. He tweeted that the idea of “being your own bank” was dangerous, while stating that banks were targeted from an economic standpoint.
7) Singapore, USA dominate IEO Launchpad: While the exchange maintains its innocence in court, Bitfinex recently announced the launch of its new venture, Tokinex. The project is aimed at building an Initial Exchange Offering [IEO] platform to help crypto-projects raise funds through token crowd-sales. A recent research report suggests that IEOs are in the lead, with at least two dozen exchanges launching IEO platforms.
Binance Unveils Phase Four of Its Lending Products
Binance, the leading digital currency exchange in the world in terms of trading volume, is all set to unveil the phase four of its Lending Products. The exchange made an official announcement detailing the launch date, time and format in an official blog post dated September 16, 2019.
As per the announcement, the Binance Lending Products’ 4th phase will be launched on September 18, 2019, at 6 am of the UTC zone. With this launch, Binance will make lending products with the fixed-term of 14 days’ available to users.
Users must note that the subscription period will begin from 6 am (UTC) on September 18, 2019, and run till September 19, 2019, 0:00 am. The duration of interest calculation is slated to start from September 18, 2019, 6 am and end on October 2, 2019, at 6 am (UTC).
The time of interest payouts is immediately after the loan term maturity, whereas the format of the subscription is on a first-come-first-serve basis, revealed the blog post.
According to the announcement, the digital assets to be included in the fourth phase are Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Ethereum Classic (ETC).
While the annual interest rate for BNB is 10 per cent with a lot size of 10 BNB and individual cap of 500 BNB, Bitcoin is available at 3 per cent annual rate of interest with the individual cap of 20 BTC and a lot size of 0.01 BTC. ETH and ETC are available for 6 per cent and 7 per cent annual rate of interest with the individual cap of 150 ETH and 1,000 ETC, respectively. Their lot sizes are 1 ETH and 1 ETC. USDT, on the other hand, has an annual interest rate of 10 per cent with 100 USDT lot size. The individual cap of USDT is 5,000,000.
Binance has also provided the total subscription cap, as well as interest at maturity per lot, for each of these digital assets in its official announcement to make it easier for users.
CZ Provokes Unintended Panic Following An ‘Attacker’ On New Futures Platform
“A market maker from a smaller futures exchange tried to attack @binance futures platform. NO ONE was liquidated, as we use the index price (not futures prices) for liquidations (our innovation). Only the attacker lost a bunch of money, and that was that.”
Just above is a tweet recently posted by the CEO of Binance, Changpeng Zhao in dispelling the concerns that a bad actor had just attacked the freshly-launched bitcoin futures platform.
This month alone has seen Binance form one of the two major BTC futures offerings to hit the market in September. The other being the Bakkt platform due on 23rd September, comes from the institutional trading platform, Bakkt.
The above quote was just the first in a series of tweets from the Binance CEO who initially warned that the platform’s futures were under attack from one of its own market makers.
“The attacker is a well-known account that trades with @binance,” CZ said. He continued, saying they “started their own futures exchange a few months ago. This was the 2nd attempt they tried. Shame!”
The attacker had reportedly crushed under the BTC/USD order book from $10,324 to $10,024, in what CZ said was the second such attempt at an attack.
The futures platform was launched in an invite-only setup mode following a user testing period earlier in the month. Two platforms were initially available with users voting for their preferred choice.
Aside from the criticism’s of both options’ technical characteristics, uptake was brisk with open interest reaching $150 million last week.
We still don’t know who specifically CZ is talking about but a few hours after the accusations came forward from the CEO, it was confirmed that everything was a big misunderstanding.
“Had a chat with the client. It was an accident, due to a bad parameter on their side. Not intentional. All good now.”
Binance CEO: Bitcoin Futures Platform ‘SAFU’ After Attack False Alarm
The CEO of cryptocurrency exchange Binance has dispelled fears a bad actor had attacked its newly-launched Bitcoin futures platform.
Technical error crashed Bitcoin price
In a series of tweets on Sept. 16, Changpeng Zhao, also known as CZ, initially warned that the exchange’s futures were under attack from one of its own market makers.
The perpetrator allegedly crashed the BTC/USD order book from $10,324 to $10,024, in what Zhao said was the second such attempt at an attack.
Binance launched its futures platform in invite-only mode following a user testing period earlier this month. Two platforms were originally available, with users voting for their preferred choice.
As Cointelegraph reported, despite criticism of both options’ technical characteristics, uptake was brisk, with open interest reaching $150 million last week.
CZ: Only “attacker” lost money
In the event, the attack turned out to be a false alarm, originating from a technical error on the market marker side.
The entity remains unknown, Zhao only revealing it was also an operator of Bitcoin futures. Due to Binance’s own settings, meanwhile, the $300 dip did not liquidate other traders’ positions; only the accidental attacker lost funds.
“NO ONE was liquidated, as we use the index price (not futures prices) for liquidations (our innovation). Only the attacker lost a bunch of money, and that was that,” he confirmed.
Binance forms one of two major Bitcoin futures offerings to hit the market this month. The other, due on Sept. 23, comes from institutional trading platform Bakkt.