Binance sets Yet another Bar
Lately it seems Binance is hell-bent on doing Good for the Cryptocurrency Community. It has been clear that Binance is a lot more than just a Cryptocurrency exchange. Binance is slowly Branching out into other Ventures.
Binance recently announced that a 1 Billion USD Fund will be allocated by them for Cryptocurrency Startups. This 1 Billion USD will all be in Binance Tokens. Now you know a Company is doing awesome when they have Spare Change of 1 Billion USD for other Projects. This also depicts how successful Binance has become.
The Entire Fund is supposed to be divided into specific Category Funds but the Total amount stays to be at 1 Billion USD worth of Binance Tokens.
I truly believe this piece of news will bring in more People to the Crypto World we live in.
Thanks for this. I wonder how they got $1B USD. Did they raise that money or from all the transaction fees? These crypto exchanges have made so much in transaction fees it's ridiculous, it doesn't matter if the price is high or low, they make money.
They will have to compete with Bittrex. BIttrex is implementing fiat to cryptos for a lot of altcoins and bitcoin. This is a huge step towards adoption! Let the free market do what it was meant to do!
It's very Ironic as I just noticed that Bittrex has a USD option Available. I did not dabble into it a lot but I think its operational.
I will be writing a post about it once I do some Testing.
you have a very high reputation in steemit. in addition to postings that add insight you also have a high voting power influence. hopefully people like you want to help people like us develop their blogs
To be Honest I am not a Mentor kinda Guy. I am just worse in Teaching stuff. But I don't mind giving bits of advice every once in a while.
no problem friend, although not a mentor but your experience is very high if the problem steemit. I strongly encourage your support and input to be better like you. I still have very little insight on how to make a good post on this platform. hopefully you want to share your knowledge. thank you
I think this an excellent news for the crypto market in general. 1 billion USD is a huge sum of money, especially if we think that it's only one company (Binance) that will provide it... and we can also think about how profitable Binance is!
Binance is ridiculously Profitable infact all the Exchanges are Profitable. Their Profits can be Roughly Calculated if we see the 24 Hour Circulation of an Exchange.
Should be very interesting watching these exchanges fight for dominance. Bittrex just announced they are going to offer Fiat ->Crypto trading #GameChanger. Could we finally see the market decouple from BTC?
Yes I saw that today.
But I don't think the Market will Decouple from BTC as not all Exchanges can get that FIAT Integration done.
Potentially when Wall Street gets access we will see decoupling..... it needs to happen as every crypto chart looks the same.... and there are some really awesome projects that will break free eventually.
Binance has done things right from the start.
Yes they have @workin2005
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Great post!
Thanks for tasting the eden!
excellent shiaring post
Thank you so much