On the date of last checking the various staking options at Binance (17 January 2023), they offered staking for 14 different crypto assets. They generally call it DeFi Staking at Binance. Binance Staking Servicesīinance is also among the crypto exchanges out there that offer so called staking services. To see all of Binance's supported cryptos, please visit this page. This system ensures that projects that have once qualified to be listed but later fail to meet such qualification requirements are delisted. The platform also has some form of quality assurance system. This makes it one of the exchanges in our Cryptocurrency Exchange List with the most supported cryptocurrencies overall. Here, for instance, is a video Binance made with footballer Cristiano Ronaldo in connection with its launch of its NFT series called The CR7 NFT Collection:īinance supports a very large number of cryptocurrencies, more than 350 different ones. Almost 90% less! There's Binance, then there's nothing, nothing, nothing, then Coinbase, then other exchanges.Īs the undisputed leader in the industry, Binance also has loads of money to spend on marketing. The silver medalist, Coinbase, had a 24 hour spot trading volume of USD 2.36 billion. On 25 January 2023, Binance's 24 hour spot trading volume was USD 20 billion. The most powerful player in the crypto world. You're welcome! Binance Review What is Binance?ĭo we really need to tell you what Binance is? It is the giant. The “handful of companies” Gensler has touted as having registered as crypto firms include 3 now-defunct companies (including one promoting a weed token) and a crypto lender fined by the SEC.EXCLUSIVE OFFER: If you sign up to Binance using this link, you can get up to USD 100 in sign-up bonus by completing certain tasks. “The SEC and CFTC have made conflicting statements, and don't even agree on what is a security and what is a commodity.”įurthermore if the SEC’s central argument in their suits is that Coinbase and Binance failed to register as securities exchanges, then it seems like a bad faith argument given that not a single crypto exchange has been able to register as a global exchange with the SEC. “There is no path to ‘come in and register’," tweeted Coinbase CEO Brian Armstrong following the announcement of the SEC civil suit against Coinbase. If the SEC is both charging alleged bad actors like Binance, and regulation friendly companies like Coinbase, the issue may not be with the companies themselves, but the SEC’s relationship to the broader crypto industry. The largest evidence in favor of this theory is that SEC also charged Coinbase-a business whose value prop relies largely on being regulatory compliant (to the point of petitioning the SEC for more legal framework). The theory is that by rolling in on some of the largest crypto exchanges, the SEC can set an example for how they want regulation on crypto to unfold. With regards to the issue of operating as an unlicensed exchange, it gets a bit trickier. However, such theories still lack too much substance to assert anything conclusive about a bias in regulation, as these types of connections are not uncommon among other large financial institutions also regulated by the SEC. Such theories typically point out the large level of donations by FTX founder Samuel Bankman-Fried to the Democrat party, his parents connections to large Democrat fundraisers, and several meetings between Fried and SEC Chairman Gary Gensler. There are those (including Zhao) who have alleged that much of the current regulatory climate can be explained by the administration’s pro-FTX bias, that the SEC now has to cleanup to prevent embarrassment in wake of the highly-public collapse. “Sure, they lost the TRO, but ultimately secured a settlement agreement that stripped away CZ’s influence over Binance.US funds." "The SEC may have had a short-term loss on the TRO, but they may consider it a long-term win for US customer funds,” Hermine Wong, a former SEC regulator and previous Head of Policy at Coinbase, told me in an interview.
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