The current crypto hype is fuelled by the constant new developments and the great interest of investors of all origins.
Within a short time, the coin achieved a trading volume of more than 6.7 million US dollars. Binance recently issued the first stock token on its platform, the Tesla Coin. Stock tokens offer investors some advantages and can even be more attractive from a tax perspective than traditional securities. As expected, the entry went well, and I was able to gain 70 percent on the reference price in some cases. How the Coinbase Stock Token will develop, should it be tradable again, depends on how Coinbase performs on the stock exchange. Like BNB, the price is occasionally volatile but could also benefit strongly from the crypto hype in 2021. The crypto exchange FTX is also on the market with its own tokenized stock. Binance has committed to buying back or burning BNB for around 20 percent of its profits every quarter. This means that long-term investors can profit again and again. This event occurs at regular intervals, similar to Bitcoin halving. The Binance Coin is certainly interesting for Hodler, as the market is repeatedly made scarcer by the Coin Burn, and thus the price also rises when demand is high. As a result of the move, the coin owners had to exchange it for the new version. In the beginning, BNB still ran on the Ethereum blockchain but is now operated with its own Binance chain. Since the ICO, the coin of the largest crypto exchange has repeatedly made headlines in terms of the trading volume. The Binance Coin is currently the third strongest cryptocurrency on the market in terms of market capitalization.
Whereas in the securities world, an IPO is called an Initial Public Offering, in the crypto world, the launch of a new coin is called an Initial Coin Offering, or ICO. The trading platforms Binance (BNB) and FTX (FTT) have decided to issue a tokenized stock as a share. The idea of generating stock tokens as shares of a crypto exchange and including them in the listing is not new. Binance and FTX Shares as a tokenized Stock Trading of the Tesla Stock Token is unaffected by this decision. In particular, the motion points to certain passages that characterize the crypto exchange as "sketchy" and a quote from an anonymous trader who called the exchange "a massive shitcoin casino.Binance cites only the high market volatility as the reason for the temporary postponement of the COIN/BUSD trading pair. He also filed a motion of discovery against Bloomberg LP and Bloomberg Inc., claiming the English version of the article published on Bloomberg Businessweek included misleading allegations. No evidence was put forth to even remotely substantiate the allegation that Zhao was involved in a Ponzi scheme," the motion Zhao filed said. "Most damningly, the Translated Article's Title was splashed across a photograph of Zhao, which had been made the cover page of the Chinese edition of Bloomberg Businessweek's 250th issue. Binance's CEO filed a defamation suit on Monday against Bloomberg Businessweek's Hong Kong publishing partner Modern Media, which ran a local headline that translated to "Zhao Changpeng's Ponzi Scheme."įor Bloomberg Businessweek's June 23 profile of Zhao, Modern Media ran with the "Ponzi Scheme" headline, while the original English-language edition went with "Can Crypto's Richest Man Stand the Cold?".
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