Crypto giant Binance acquired Trust Wallet two years ago today. In that short space of time, the service has managed to amount 5 million users, and it is now expanding into the burgeoning DeFi sector. In addition to the five million user milestone, Trust Wallet claims that 10% of this rapidly acquired user base is now accessing a wide range of DApps and DeFi platforms. It plans to aggressively expand into the sector as crypto investors seek liquidity farming earning opportunities. Delving into DeFi In a move to keep pace with the rapidly expanding DeFi ecosystem, Trust Wallet has integrated …

After months of waiting, planning and testing, Binance has begun delivering its debit cards to customers. “This started shipping in limited quantities as of yesterday, I heard,” Binance CEO Changpeng Zhao, also known as CZ, said in a July 25 tweet, responding to a community member interested in the product. Previous reporting shows an August launch for the card in European regions, so, it can be inferred, CZ means shipping to European customers at this time. Cointelegraph reached out to Binance for additional details but received no response as of press time. This article will be updated accordingly should a …

Decentralized exchanges are generally liked for their transparency and lack of custody, reducing the trust requirements in their operators. Many centralized exchanges have been caught in a peculiar type of manipulation used to inflate their trading volumes. This was first highlighted by the Bitwise Report released in March 2019, which analyzed trading patterns on some of the platforms to conclude that up to 95% of reported Bitcoin trading volume at the time was essentially fake. One of the ways to inflate volume is the practice of wash trading, where a single entity acts as both the maker and taker of …

At a time of unprecedented upheaval in the global tourism industry, blockchain-based travel booking service Travala and Swipe aim to boost crypto’s useability. Announced on July 24, Travala’s native token AVA will now be added to the Swipe wallet service and Visa card platform — reportedly making it spendable at 60 million merchants. AVA will also be supported by Samsung Pay, Google Pay and Apple Pay through Swipe’s integration with these services. In addition, the AVA token will be available to the 500,000 users of Swipe’s multi-asset digital wallet. The news follows shortly after Swipe’s acquisition by major crypto exchange …

CoinMarketCap listed its parent company’s token Binance Coin at the top of its new DeFi list — and then quickly withdrew it following a barrage of criticism. First noticed by podcaster and Twitter user Yannick Eckl (@cryptonator1337), BNB was ranked higher than other well known decentralized finance tokens such as Maker (MKR), Compound (COMP), and Aave (LEND). Apparently @CoinMarketCap has a #DeFi project ranking now. Guess what is on #1? Right, $BNB! What a coincidence. At this point, everybody has to realize how shameless #Binance is acting pic.twitter.com/GMFBcRRLhO — CR1337 (@cryptonator1337) July 23, 2020 The tweet soon went viral. CEO …

Binance Smart Chain — a dual-chain architecture from major crypto exchange Binance — is now integrating Chainlink (LINK) data oracles. Binance Smart Chain adds smart contracts to the exchange's original chain, Binance Chain, and is currently in testnet. Chainlink co-founder Sergey Nazarov told Cointelegraph that in his opinion, this integration will save time and effort for developers who are building decentralized apps on the blockchain: “With the Chainlink integration, Binance Smart Chain developers no longer need to dedicate months of engineering time to set up their own oracle infrastructure. Now, they can simply use Chainlink as an abstraction layer to …

Major cryptocurrency exchange Binance plans to use a bridge between the Syscoin and Ethereum blockchains to move its Binance USD (BUSD) stablecoin between them. The bridge developed by Blockchain Foundry — the firm powering the Syscoin blockchain — will allow BUSD holders to move their tokens between the Ethereum and Syscoin blockchains. This will also make the stablecoin available on the Syscoin blockchain for the first time. Binance said, “Users can take advantage of Syscoin’s fast, scalable and low-cost transactions while also preserving the ability to leverage Ethereum’s smart contract functionality. Also help provide more use cases for BUSD holding …

Binance, the world’s largest crypto exchange, is considering purchasing or setting up its own bank. The company’s CEO Changpeng Zhao, or CZ, revealed the news during an AMA session hosted by Binance-owned CoinMarketCap on July 22. Could it happen? During the AMA, CZ highlighted that the idea of purchasing or building their own bank has been circulating around Binance for a while. When asked about Binance’s plans to “ever launch a bank with all the world products,” CZ answered that “the idea of buying a bank came up like a thousand times.” CZ elaborated that bank acquisition ideas have been …

Changpeng Zhao, CEO of crypto exchange Binance, isn’t sure what will cause Bitcoin to hit $10,000 again, but has remarked on the token’s recent stability. In a July 19 interview with Bloomberg Daybreak: Asia, Zhao, also known as CZ, commented on the cryptocurrency’s record low volatility. Bitcoin (BTC) has had very few big moves for weeks, with the token remaining between $9,000 and $9,500. BTC is priced at $9,175 at press time. “I think sooner or later it’s going to break out,” CZ said. “But right now Bitcoin has been really stable. People have been calling it a stablecoin now.” …

Top cryptocurrency exchange Binance’s CEO revealed his thoughts on token economics to explain how finance in the emerging new crypto industry works. According to Binance’s blog post on July 18, Changpeng “CZ” Zhao pointed out that it makes more sense to convert fiat currency to crypto such as Bitcoin and Binance’s native token BNB. Since the conversion fee on exchanges is substantially cheaper than what credit cards would charge. Holding and burning are good for the token economy Zhao pointed out that if a team holds its own tokens, they show more commitment in the project. Meanwhile “buy-backs” before the …

A report by Flipside Crypto states that investors are liquidating their Compound (COMP) holdings as soon as the opportunity presents itself; with major exchange listings acting as catalyst. COMP flows. Source: Flipside Crypto. Exchange listings led to dumps The report states that as soon as COMP was getting listed on major exchanges like Binance (BNB) or Coinbase, there were observing major flows from the investors to exchanges. In addition, there was allegedly a larger transfer made from “the Compound team to DeFi. This correlates with the unannounced listing of COMP on Uniswap”. When trading on Coinbase ensued on June 23, …

Top cryptocurrency exchange Binance was added to the Securities Commission Malaysia’s list of unauthorized entities earlier today. According to the regulator, the digital asset trading platform is “operating a recognized market without authorization from the SC”. Malayisan law requires cryptocurrency exchanges to register as Digital Assets Exchanges with the SC. After the initial filing, they get up to nine months to meet the SC’s regulation standards. So far, only three cryptocurrency platforms — Luno, Sinegy and Tokenize — have received full approval from the local watchdog. Notedly, in March Binance announced that it was going to test the South East …