Record $113M BUSD stablecoin inflow shows Binance is serious about DeFi

New data from CryptoQuant, an on-chain analytics firm, shows $113 million worth of Binance USD (BUSD) has flowed into Binance exchange over the past week. This means BUSD stablecoin now has the highest potential buying power over all other USD-based stablecoins except for Tether (USDT). BUSD inflow to Binance. Source: CryptoQuant Binance’s new USD-backed stablecoin is ERC-20-based and was launched in 2019 in partnership with Paxos. Since then, BUSD has steadily been gaining traction as its volume increased and recently surpassed that of USD Coin (USDC) on Sept. 4.   Main…

Binance US on track to launch in all 50 states by 2021

New legislation may make it possible for Binance US, the American branch of crypto exchange Binance, to open its doors to all traders in every state by next year. According to a Sept. 15 tweet from Binance U.S. CEO Catherine Coley, the digital asset marketplace has just launched in Georgia, allowing users to buy, trade, and earn digital assets. Thrilled @BinanceUS launches in Georgia today – our 40th state! Atlanta means so much to me, a 1996 @kerristrug96 fangirl obsessed with the Olympics. What can I say, we’ve come a…

Kiss front man Gene Simmons suggests he’s working to make crypto more accessible

Responding to a tweet from Cameron Winklevoss, co-founder of the Gemini crypto exchange, rock star Gene Simmons said he plans to make Bitcoin (BTC) and Ethereum (ETH) more easily accessible.  “It’s easier to buy Bitcoin and Ether if you are already in the old system,” Winklevoss said in a Sept. 15 tweet, summing up a rather long thread addressing racial bias, crypto and decentralized finance. “If you don’t have a bank account, it’s hard to get funds into crypto,” he noted, adding: “We need to change this.” Retweeting the post…

Why Jim Cramer will invest 1% of net worth in Bitcoin

Recently, Jim Cramer, the host of CNBC’s Mad Money, says he might invest 1% of his net worth in Bitcoin (BTC). The famed investor drew comparisons between BTC and gold and cited the importance of hedging against inflation. During a podcast with Anthony Pompliano, Cramer said he would “take a shot at that with 1%.” Since the lead up to Bitcoin’s 2017 bull run, CNBC, Bloomberg and institutional analysts have been extremely critical of the digital asset. Most claimed that cryptocurrencies were ponzi schemes, scams, or unsustainable, but this narrative…

Tassat will be able to launch Bitcoin swaps after all, says CFTC

The United States Commodity Futures Trading Commission will still be allowing New York-based fintech firm Tassat to proceed with its Bitcoin swap contracts after failing to meet regulatory requirements. According to a Sept. 15 statement from the CFTC’s Division of Market Oversight (DMO), the regulatory body will not stop Tassat from launching a swap execution facility (SEF) in Q4 2020, even after the firm failed to renew its registration following 12 consecutive months without trading. “DMO will not recommend the CFTC commence an enforcement action against Tassat for failing to…

Germany-based gaming company releases RPG on the Litecoin blockchain

In an online event prepared by the Litecoin Foundation on Sept. 15, Litecoin (LTC) creator Charlie Lee and CipSoft CEO Stephan Vogler announced the release of LiteBringer, a role-playing fantasy game which runs on top of the Litecoin blockchain. “It’s the first major game that utilizes the Litecoin blockchain for all of its interactions,” Lee said. Vogler stated the game is fully decentralized, meaning all users have to be running a Litecoin node to play. He also noted that access is completely dependent on players having at least some Litecoin…

Venezuelans are running out of crypto P2P trading options

Due to the regulations and sanctions related to the U.S. Office of Foreign Assets Control, or OFAC, Paxful announced that they will no longer provide services in Venezuela, according to an announcement on September 14. In a statement sent to Cointelegraph, Paxful’s CEO, Ray Youssef, commented that they’ve tried for several months to find a way to maintain their operations in Venezuela, but “with current risks, we had no choice but to make this incredibly difficult decision.”  Ray also told Cointelegraph how the wind down of his company’s services will…

eToro, BlockFi & Nexo capitalize on Brave ads for ‘unmatched engagement’

According to Brave browser, businesses like eToro, BlockFi, and Nexo have achieved unprecedented results by advertising to the platform’s users. Considering the popularity of Brave within the crypto community, this does not come as a surprise. For instance, the crypto-lending platform BlockFi was able to reduce its customer acquisition costs by 75% with Brave ads. The campaign was also twice as effective as a Google campaign in terms of the percent of respondents who opened accounts. BlockFi’s marketing manager Nick Ries was quoted as saying: “Brave has proven to be one…

Algorand staking now compatible with Ledger wallet’s desktop software

Popular hardware wallet company Ledger added Algorand’s ALGO token to the list of wallet-compatible assets available on its desktop app, Ledger Live, allowing holders to store and stake the asset. “The integration with Ledger Live will provide users with additional opportunities to earn passive income, ensuring the highest level of control and flexibility,” Ledger’s CEO, Pascal Gauthier, explained Tuesday in a statement provided to Cointelegraph. The addition also means storage compatibility for tokens built on Algorand’s blockchain, known as Algorand Standard Assets. Assets built using proof-of-stake technology mean holders can earn passive income…

7.6B more ADAs were transferred to Binance with its price shedding 30%

In the last month, 7.6 billion more ADAs were transferred to Binance than withdrawn according to data from Flipside Crypto. Meanwhile, the price of ADA dropped from $0.141 on August 14 to $0.097 by September 14 — a 31% decrease. ADA price and market capitalization. Source: CoinMarketCap. Before the asset’s recent backtrace in price, Cardano’s native currency was on a bull run, culminating with a recent upgrade on July 29. During the run, ADA was able to entrench itself in the top-10 cryptocurrencies by market capitalization, but has dropped out…