Author: Ranjan Yadav

Thinker. Reader. Learner. Writer. Informed. Rebel.

“The Portal is Open.” Solana’s interoperability protocol Wormhole (communication bridge) now supports Binance Smart Chain (BSC). It’s worth noting that APYSwap earlier introduced the “first-ever” BSC-to-Solana bridge in May 2021. Wormhole already supports ETH-to-SOL token and NFT bridge. As of this writing, Wormhole accounts for over US$251 million in Total Value Locked (TVL). Now, Wormhole V2 is entering the acclaimed network of the omnipresent Binance Smart Chain. Ethereum and Solana ecosystem users can now bridge their wrapped tokens easily across Ethereum, Solana, and now BSC. Hendrik Hofstadt, Director, Special Projects, Jump Crypto (ex-co-founder Certus One, a principal Wormhole contributor), said:…

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First-ever DEX integrating Spots and Derivatives on the Binance Smart Chain (BSC), SheepDEX is poised “to be decentralized Binance.” A concentrated liquidity DEX, Certik-audited SheepDEX is about to alter your DEX trading experience. Launched officially on October 10, 2021, SheepDex is a new player in the DeFi game. Still, it is already well-acknowledged as a key project in the entire BSC ecosystem. SheepDEX has developed various innovative functions, making triple incentives available to users. Decentralized SheepDEX’s efficient and exclusive features still unavailable in BSC include: Range OrdersFlexible FeesMultiple LP RewardsLow FeesCross-chain CompatibilityOrder Splitting SheepDEX is a cross-chain liquidity aggregation platform…

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Binance has announced the appointment of former Dubai Financial Services Authority (DFSA) Director, Mark McGinness, as Chief Regulatory Liaison Officer. Changpeng Zhao, CEO, Binance, said the following (on their blog): Mark is one of the most respected regulators and compliance experts in the industry. He brings with him over 30 years of invaluable experience working alongside key stakeholders in the financial services industry. And Mark joining our leadership is not only a huge step forward for Binance, but the industry as a whole, as we work to grow the industry responsibly with the support of regulators and policymakers across the…

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The political leaders in the U.S. have been expressing their concerns pertaining to a looming debt crisis and increasing the debt ceiling. They indicate there’s a potential of a possible default risk, as well. So, various U.S. bureaucrats are in favour of minting a US$1 trillion platinum coin to drastically augment the treasury with the fiat currency cash. Former U.S. Mint Director opines minting a Platinum Coin is a matter of only a couple of hours. But, the Treasury Secretary Janet Yellen states the following to CNBC in regards to minting a US$1 trillion platinum coin: A platinum coin, “is…

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JPMorgan states institutional investors are exhibiting increasing interest in Bitcoin, as a hedge even beyond gold. JPMorgan’s analysts consider Bitcoin’s recent 35% rally has 3 key reasons, per Business Insider: “The recent assurances by US policy makers that there is no intention to follow China’s steps towards banning the usage or mining of cryptocurrencies.” “The recent rise of the Lightning Network and 2nd layer payments solutions helped by El Salvador’s bitcoin adoption.” “The re-emergence of inflation concerns among investors has renewed interest in the usage of bitcoin as an inflation hedge.” With no cryptocurrency ban by the U.S. policymakers, JPMorgan…

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The U.S. Securities and Exchange Commission might give a green signal to a Bitcoin (BTC) Exchange Traded Fund (ETF). If the said Bitcoin ETFs are based upon BTC futures contracts instead of Spot Bitcoin, the SEC might approve a BTC ETF. In the same context, Bloomberg ETF Senior Analyst Eric Balchunas recently tweeted the following: Yes, the SEC has kicked can on bitcoin ETF approval BUT that is for the physically-backed ones under ’33 Act. The futures ETFs filed under the ’40 Act (which Genz loves) are very much alive and likely on schedule (we think 75% chance approved in…

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China is bracing to potentially add cryptocurrency mining to its newly readied “Negative List for Market Access.” Doing so would render the cryptocurrency mining industry inaccessible to investors. The Chinese government and the Central Bank are actively looking to tame cryptocurrencies altogether now. So, the 2021 draft “Negative List for Market Access (NLMA),” per China’s National Development and Reform Commission (NDRC), includes cryptocurrency mining. Released together by the NDRC and the Ministry of Commerce (MOFCOM), on the NLMA, the State Council states: The negative list for market access outlines sectors, fields, and businesses off-limits for investors. Industries, fields, and businesses…

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Bitcoin.com has announced that it now supports DApps built on Ethereum in the Bitcoin.com Wallet, courtesy of WalletConnect. Now users can earn interest on their cryptocurrency, trade via decentralized exchanges (DEXs), access NFT marketplace, etc. In recent days, WalletConnect has integrated with various wallets. SecuX hardware wallet now allows its users to manage in their (iOS) SecuX Mobile App the Binance Smart Chain (BSC) BEP20 tokens. As a part of its yearly update, SecuX’s Firmware version MCU 2.13 and SE version 1.87 (July 29, 2021) now supports WalletConnect, BSC, and Ada Portal. COZ announced in a tweet its Neon Wallet…

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Binance has allotted a US$1 billion fund to “push the adoption” of the entire blockchain industry and specifically of the Binance Smart Chain (BSC). The said fund is dubbed to be “the biggest funding program of its kind in the whole cryptocurrency industry.” Binance’s official announcement states: Binance announces the biggest funding program of its kind in the whole cryptocurrency industry — the $1 billion fund to push the adoption of not only BSC but the whole blockchain industry. Binance had earlier set up a US$100 million BSC Accelerator Fund (BAF) for supporting dApps on BSC at its launch. This…

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Binance Limits Services in South Africa Binance Holdings Ltd. has announced termination of services in South Africa for regulatory compliance. The move came after Binance Group was warned by the South African financial regulator, the Financial Sector Conduct Authority (FSCA). FSCA maintains that Binance Group will have to cease offering unauthorized financial advice or intermediary services in South Africa. Per Binance’s recent announcement, its services offered in South Africa are now limited. Binance states it regularly evaluates its product and services to “remain compliant with local regulations.” As a result, Binance will now “cease offering” futures, options, margin, and leveraged…

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