Binance Launched ‘How to Get Rekt 101’ + 10 More Crypto News

Adoption Binance Blockchain Huobi Regulation Security

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Tim Alper

Author

Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023

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Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news – keeping you up-to-date with under the radar crypto news from around the world.

Trading news

• Binance said that Binance Futures has increased its maximum leverage to 125x for BTC/USDT contracts and enabled a leverage adjustment function on its web and testnet trading interfaces. Binance CEO, Changpeng Zhao urged to “use high leverage with extreme caution” and didn’t recommend this to “new traders.” “Some features, while not liked by everyone, are in high demand only for small selected groups. <…> As a platform, we have to provide choices to stay competitive,” he added later. Meanwhile, more experienced traders reacted to this announcement saying that Binance just introduced a guide “how to get rekt” (wrecked), while others were adding that even 100x is “insanity.” Leveraged trading refers to borrowing funds so that you can take a larger position than you would be able to with your existing funds so that you can potentially generate a higher profit or loss, which might ruin a trader financially.

• Huobi Global aims to launch Turkish lira / tether trading by the end of 2019. Also, the company said it already has a local team in Turkey, localized language option on web and mobile app. “Turkey is an important region for us, and we plan to bring Huobi’s six years of industry expertise, advanced ecosystem, and a standard of trust to the market, and trigger key conversations around long overdue for a thriving crypto community,” Livio Weng, CEO of Huobi Global, was quoted as saying in a press release.

Investment news

• Russian news agency Tass has revealed details of Telegram’s latest letter to investors who took part in privates sales of the Gram cryptocurrency. The agency says it has obtained a copy of the latest letter sent to investors after the American regulatory Security and Exchanges Commission (SEC)’s recent attempt to block the launch. The company has reportedly told investors that they can either choose to receive 77% refunds on their stakes now or agree to a postponed launch in April 2020. Should they choose the first course of action, the project will be canceled on October 31.

Regulation news

• International financial authority the Financial Stability Board (FSB) aims to submit a consultative report on stablecoins to the G20 Finance Ministers and Central Bank Governors in April 2020, and a final report in July 2020. Prior that, the authority will engage with FSB member authorities and other organizations, to gather information on the specific issues identified in stablecoin arrangements with potentially a global footprint. The FSB will also engage with stakeholders through outreach meetings and a public consultation.
• Cryptocurrency regulations are forcing South Korean blockchain game developers abroad, per Money S. The media outlet reports that a ban on initial coin offerings and cryptocurrency business investment are factors that have pushed gaming dapp (decentralized app) developers to focus their business activities in Singapore and the United States. South Korea’s gaming industry – although lucrative – is also highly regulated.
• Cryptocurrency news site Cointelegraph has been blocked in Russia, per a new report. The news outlet says that developers have seen an XML file that has been sent to ISPs in the country, and claims that Russia-based users are having trouble accessing the site. Per an update from the Russian Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor), the site’s domain is now on a blacklist that contains a large number of Russian and international cryptocurrency news sites.

Security news

• More than 50% of all computing systems at an undisclosed European international airport were recently found to be infected with a Monero cryptominer Bleeping Computer reported, citing Cyberbit, an IT security firm. Besides affecting the infected systems’ overall performance and leading to increased power consumption, the XMRig Monero miner did not impact the airport’s operations, it added.

Adoption news

• Another South Korean conglomerate has revealed that it is working on blockchain plans, reports Maeil News. Trading and shipping giant STX says that its new business strategy, which will also see it cooperate with Russian companies on trade-related matters, will see it develop blockchain technology-powered solutions. A number of other South Korean logistics and shipping companies, including Hyundai Merchant Marine, have also committed significant funds to blockchain-related projects.
• A UAE-based property giant says that it intends to launch its own blockchain-powered token, and will use it as a loyalty and referrals program reward. Per a press release, Emaar, one of the parties responsible for building landmark Dubai buildings such as the Burj Khalifa, says its Quorum-based tokens will “not only be redeemable in Emaar’s real estate, hotels, e-commerce operations and malls, but can also be traded with other users.”
• The first major blockchain conference to be held in the Spanish resort town of Malaga promises to be a big one. Per La Vanguardia, confirmed attendees include the Bank of Japan, as well as central bankers from Spain, Lithuania and Brazil. Speakers from the European Central Bank, the World Bank and the World Trade Organization have also been added to the event, which will run from November 11 to November 13. IBM, BitHub Africa and the Japanese regulatory Financial Services Agency will also be making presentations.
• Venezuela’s cryptocurrency chief has been made a “guest of honor” at a Moscow blockchain event, reports Noticas24. The head of national cryptocurrencies agency Sunacrip, Joselit Ramírez, has spoken about his country’s state-issued, oil-backed cryptocurrency, the Petro, in front of some of the 6,000 attendees at the Blockchain Life 2019 event. Venezuela is hoping to convince China and Russia to trade with it in Petros and other cryptocurrencies.