PRESS RELEASE. Excitement is brewing in the heart of Asia as Hong Kong regulators pave the way for a new era of innovation with the recent approval of spot Bitcoin exchange-traded funds (ETFs). This groundbreaking development underscores Hong Kong’s commitment to becoming a regulated hub for Bitcoin. At the same time, the Bitcoin Conference is […]
Bitcoin News
Binance Blockchain Week Announces Impressive Speaker Lineup for November Conference in Istanbul
Istanbul, Turkey – October 5, 2023 – The global blockchain ecosystem behind the largest cryptocurrency exchange by trading volume, Binance, today announced the first wave of speakers for its annual flagship conference Binance Blockchain Week in Istanbul from November 8 to 9, 2023.
Rachel Conlan, Chief Marketing Officer at Binance, shared: “We are very excited and are looking forward to welcoming the global crypto community to the beautiful city of Istanbul. This is the place to be for blockchain and crypto enthusiasts. In recent years, Turkey has emerged as a promising crypto hub within the region and globally. Turkey stands out as a country with one of the highest crypto adoption rates globally, at around 12 percent now. There’s also a vibrant and inclusive crypto community and startup culture in the country, where the future of blockchain is welcomed with open arms. This makes Turkey the perfect place to learn more about blockchain, share best practices, and chart the new era of finance together.”
With the theme of “The Next Billion: Empowering the Future of Web3,” Binance Blockchain Week Istanbul will focus on the future of Web3, including how blockchain and crypto can empower the next billion people to improve their everyday lives.
The lineup of speakers features innovators, policymakers and industry thought leaders, business influencers, entrepreneurs, including Yat Siu, Chairman and Co-Founder of Animoca Brands; Faruk Eczacıbaşı, President of Turkish Informatics Foundation; Alexandre Dreyfus, Founder and CEO of Chiliz; Sebastien Borget, COO and Co-Founder of The Sandbox; Pär Helgosson, Head of Web3 and Metaverse at Paris Saint-Germain; Eowyn Chen, CEO of Trust Wallet; Shane O’Connor, Innovation Manager for Emerging Tech at UNICEF; and many more. Attendees will also have the opportunity to hear directly from Binance’s senior leadership team including its Head of Regional Markets Richard Teng and Chief Marketing Officer Rachel Conlan.
“We’re always focused on helping the industry to continue building and maturing in collaboration with other industry players, and conferences like this are pivotal to making that possible,” added Rachel.
This conference aims to provide a platform for people to engage in valuable conversations around Web3 and the latest industry innovations, trends and issues — evoking ideas, facilitating development, making connections, and finding solutions to challenges. Turkey, where traditional finance embraces the future of blockchain, becomes the backdrop.
Thousands of individuals and many notable organizations from all over the globe are expected to join Binance in Istanbul, Turkey this year. Over the coming weeks, Binance will be unveiling more details including influential speakers to catch as well as the full conference agenda through its official channels and event landing page.
Tickets are on sale now, with early bird specials available for a limited period of time.
The upcoming conference in Istanbul follows the incredible successes of Binance Blockchain Week in Dubai and Paris last year. Follow Binance for more information and updates on the conference. For sponsorship and partnership opportunities, please reach out to the events team at binanceblockchainweek@binance.com.
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About Binance.com
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by trading volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com
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Inside Terra’s $2.38 Billion Reserves, What Made The Lineup?
Terra (LUNA) has been aggressive about filling up its reserves with trusted cryptocurrencies to serve as a backup for its stablecoin UST. This has evolved over time to include a number of various cryptocurrencies that now make up its reserves sitting at .38 billion. This is still a long way from where the Luna Foundation plans for its reserves to be, making it a work in progress. In this report, we take a look at these reserve currencies and the portion allocated to each one.
Diving Into Terra’s Reserves
As mentioned previously, Terra’s crypto reserves have gone up to as high as .38 billion since it first announced it was starting the reserves. Luna Foundation Guard has been putting more money into its Bitcoin reserves, which it plans to get to at least billion in BTC with time. This makes the pioneer cryptocurrency the largest of the holdings in this regard. Although there are other cryptocurrencies that mark the lineup, bringing the total to four.
Related Reading | ADA To Rebound With Integration Of USDT And USDC On Cardano?
Following behind Bitcoin are the ERC-20 tokens which combined make up the second-largest percentage of the reserves at 23.2%. These are both stablecoins USDC and USDT, coming out to a total of 9.80 million of these tokens serving as reserves for USDT.
Additionally, Terra’s native token, Luna, also makes the list of reserves used by the network. It accounts for 7.2% of all reserves with a dollar figure of 2.20 million and a total token balance of 2.25 million Luna tokens.
The foundation recently purchased an additional 123.89 BTC to add to its reserves bringing its total to 42.53K BTC. This put Bitcoin in the large majority at 69.6% of all reserves, coming out to a total dollar value of .66 billion.
Where’s AVAX?
Last week, it was announced that Terra would add AVAX to its reserves as a way to combat the rising competition. This came as a result of a collaboration between Avalanche Foundation, Terraform Labs, and the Luna Foundation Guard who had said they would be purchasing about 0 million worth of AVAX to add to its reserves.
Related Reading | Bitcoin Clings To K On Easter Sunday As Crypto Seen To Head Lower In The Short Term
Do Kwon, founder of Terra, had explained that the decision to add AVAX to Terra’s reserves had been fueled by the loyalty to the network. However, a look at LFG’s reserves shows that there is no AVAX in sight. This could easily mean that the foundation is yet to add AVAX to its reserves.
However, per the deal with Avalanche Foundation, both the Avalanche Foundation and Terraform Labs currently hold 0 million worth of AVAX each, while the Avalanche Foundation now holds 0 million worth of LUNA and 0 million worth of UST.
Featured image from CryptoSlate, chart from TradingView.com
NewsBTC
Crypto Tidbits: Bitcoin Mining by Blockstream, Ripple Investment Plans, Binance US Unveils Altcoin Lineup
Another week, another of Crypto Tidbits. Bitcoin (BTC) bulls continued to show their faces after a brief lull.
Per data from Coin360, the leading cryptocurrency is up 6% over the past seven days. Despite the fact that altcoins are supposed to follow Bitcoin, assets like Ethereum, XRP, and so on actually underperformed BTC by a large margin, resulting in two-year highs for the Bitcoin dominance statistic.
Related Reading: Gann Theory Suggests Bitcoin Price at “Do or Die” Moment, Important Pivot Ahead
Price action aside, this week saw a number of interesting developments for the cryptocurrency space: the latest round of tariffs from Donald Trump have sparked another round of debates over Bitcoin’s potential as a safe haven; nations in the G7 have renewed efforts to crack down on crypto, and a number of industry startups made a handful of product announcements.
Related Reading: Crypto Tidbits: LedgerX Bitcoin Futures, Federal Reserve Rate Cut Bullish, Square Booms
- Leading Nations Looking to Crack Down on Crypto Money Laundering: Reported by Nikkei Asian Review, a consortium of some 15 countries, including the nations of the G7 (U.S., Germany, Japan, etc.), will be creating a platform that will ensure that crypto assets, like Bitcoin, will be hard to use in money laundering operations. The system, which is to be created and designed by the Financial Action Task Force, will collect and share the personal information of those that are involved in the crypto industry. Nikkei’s article reads: “The goal is to prevent funds from being laundered, going to terrorist organizations or otherwise being put to illicit use.” This comes as politicians like Donald Trump have vehemently come out against cryptocurrencies, especially Bitcoin and Libra.
- Binance U.S. Unveils Potential List of Supported Crypto Assets: Binance’s American subsidiary, Binance US, is nearing its launch. However, ever since it was announced back in mid-June, crypto investors have been wondering which altcoins the new platform would support, as the U.S. Securities and Exchange Commission (SEC) has yet to give clear guidelines for crypto exchanges. But Binance recently shocked the crypto trading community, unveiling a nice swath of digital assets it may support. The list includes the normal suspects, including Bitcoin and Ethereum, but also an array of smaller altcoins that may not ring a bell. The 30 cryptocurrencies that the Binance subsidiary is currently considering are as follows (in alphabetical order): ADA, ATOM, BAT, BCHABC, BNB, BTC, DASH, EOS, ETC, ETH, HOT, IOTA, LINK, LOOM, LTC, MANA, NANO, NEO, PAX, REP, RVN, TUSD, USDC, USDT, VET, WAVES, XLM, XRP, ZIL, and ZRX.
- Crypto-Friendly Social Media Firm Kik Pushes Back Against the SEC: For months now, crypto-friendly social media firm Kik, which famously hosted a 0 million ICO for the KIN project, has been tussling with the U.S. SEC. The regulatory agency sued the Canadian firm, claiming that it was in violation of securities laws. Kik is now fighting back. Earlier this week, the firm released an over 100-page document rebutting the SEC’s concerns. While the piece is quite long, there are a few key takeaways put forth by Kik’s team of lawyers and technologists: Kik did not sell digital securities, and thus did not violate any pertinent federal laws; the crypto isn’t the firm’s attempt to save itself from going under; KIN isn’t the only company foraying into social media digital assets, but is the first; the SEC is ignoring certain statements that would help Kik’s case; the SEC is operating on a “flawed factual and legal premise”. Some, funnily enough, have said that this “flawed premise” extends to its rulings on Bitcoin exchange-traded funds (ETFs).
- Ripple CEO Expects to Bag More Deals: Ripple chief executive Brad Garlinghouse told Yahoo Finance that he wants his firm to leverage its strong position in the market and large balance sheet to make more investments and acquisitions. No specific firms were mentioned, but Garlinghouse said that Ripple is looking into deals that will allow it to better satisfy its customers. This, of course, comes shortly after the firm bagged a deal with Moneygram, one of the world’s largest money-transfer firms, to utilize xRapid.
- Blockstream Launches Bitcoin Mining Service: Blockstream, the Canadian Bitcoin development and services giant, has just expanded its operations once again. This time, it is launching a mining service, which actually commenced operations in secret way back in 2017. This new division is a “mining equipment colocation” service, which promotes “institutional and enterprise customers” to deploy “virtually any type of Bitcoin mining equipment” in any of Blockstream’s centers. Currently, the colocation service is used by Fidelity Investments, the prominent Wall Street firm that has been mining Bitcoin in-office for years; pro-crypto LinkedIn founder Reid Hoffman, and Blockstream itself, which claims to have machines that power “less than 1%” of the Bitcoin network. The firm is also launching a mining pool that will promote decentralization.
- Bitcoin Hash Rate Continues Higher: Despite Bitcoin’s tumultuous price action, miners continue on adding capital to the space. This week, Bitcoin’s hash rate surmounted 80 EH/s for the first time ever.
- EtherDelta Involved in Scam: China: According to Dovey Wan, a prominent Chinese crypto investor and industry insider, EtherDelta is purportedly involved in an exit scam. The popular Ethereum decentralized exchange was purportedly quietly sold off to Chinese investors by the SEC-charged Zack Coburn. The unnamed investors then later used their newly-acquired platform to sell a crypto asset with EtherDelta branding in an apparent exit scam. The details of this case are still unclear.
- New Crypto Platform FTX Bags Million: FTX, an up-and-coming crypto trading platform backed by many of the individuals at industry fund Alameda Research, has secured million in investment from a number of industry venture firms.
- Bitwise Claims Libra Accelerated Crypto by Three Years: Bitwise’s Matt Hougan claimed that Libra helped to propel the industry to “center stage”, which is especially important for an industry as fringe and abstract as digital assets and non-fiat monies. Elaborating, Hougan added that Libra is also important because it and “other catalysts” have “changed the nature” of the conversations that investors and others are having about this industry. This paradigm shift in how the public addresses Bitcoin and its ilk, he adds, has been seen across the globe.
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