Crypto Exchange Giant Binance Outlines Plans to Expand in Africa 3781

Binance Labs Director Benjamin Rameau has stated that Africa is front and center of the company’s expansion strategy as it bets on a vision of the 21st century driven by the world’s youngest population gaining increased access to technology and opportunities.

In a detailed blog published on his Medium page, Rameau comprehensively outlines why Binance believes that the future is African, starting with a historical comparison to Asia in the 1960s – also an under-serviced continent with a poor population.

According to him, the same contrarian investment strategies that proved extremely successful as Asia kicked off an economic miracle in the face of all expectation are likely to reap similar rewards in 21st century Africa.

The post goes on to state that unlike in developed markets where it competes with a flawed existing financial system, crypto has the potential to build a completely new financial system in parts of Africa where to all intents and purposes none currently exist, such as South Sudan where only 9 percent of people over 15 years old have a bank account.

Earlier when CCN reported on Binance opening up in Uganda, the story noted that Ugandans’ access to financial services has grown rapidly over the past decade, driven by digital inclusion through a wide adoption of mobile money platforms. According to a World Bank news report, there has been an over 100 percent rise in the number of adult Ugandans with access to formal financial services since 2009, but the total percentage of the population with this access is still about 16 percent.

From a Binance perspective, this scenario contains the real possibility for huge growth. Essentially, an entire generation of hundreds of millions of young, technology-receptive people could come into crypto finance as their first ever experience of a structured financial system, establishing crypto as a default paradigm on the world’s largest inhabited continent, which would be game-changing for crypto perception and adoption worldwide.

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Will Bitcoin continue to fall? 6738

Bitcoin

It’s no secret that the cryptocurrency market is quite volatile. Almost any piece of global news can affect the price of digital assets in one way or another. Take billionaire Elon Musk, for example, who was able to influence the price of Dogecoin simply by tweeting. However, this does not always happen because of a particular case and with a particular coin. In 2020, for example, the world went into lockdown for the first time in a long time. Countries’ borders were closed and the logistics of many goods began to be disrupted. People had to stay at home, fearing for their health. The Covid-19 pandemic was to blame. You would think that a virus could have an impact on digital assets. As it turns out, it was able to reach cryptocurrency as well. Because of problems in the economy, cryptocurrency has begun to lose value.

This did not last long, and a year later Bitcoin set a new historical high. The price of the first cryptocurrency was above $63,000. Those enthusiasts, who during the chaos and lockdown did not stop believing that cryptocurrency was the future and continued to invest in digital gold, were able to make good money in just one year. Bitcoin began to be prophesied to reach $100,000 in the near future. There were many explanations from analysts and financial experts that Bitcoin could do this. Today, however, the picture for the crypto industry does not look so rosy.

Since the beginning of 2022, the first cryptocurrency began to lose heavily in price, for various reasons. Today, we can observe that Bitcoin is in prolonged drawdown, just like all other digital assets. Some call it a “crypto-winter”. This has already happened to the crypto market more than once. But why is the fall so noticeable?

Experts attribute the prolonged decline in quotations to the fact that the Federal Reserve System is tightening policy in the US, which raises rates to contain inflation in the country.

As cryptocurrency is a risky asset, investors and traders are trying to get rid of it or keep it to a minimum.

Also, the recent news that one of the world’s largest cryptocurrency exchanges, FTX, has filed for bankruptcy has not had a positive impact on the value of digital assets either. The first cryptocurrency still remains in a kind of sideways position. At the time of writing, it stands at $16,993, according to CoinGecko.

What if Bitcoin keeps falling?

If the cryptocurrency drawdown continues, nothing good can come of it. As analysts say, this will entail quite serious and large changes in the global crypto market. A similar scenario was discussed this summer, in the online edition of CNews. The publication’s experts believe that continued drawdown will mean that many tokens that are not widely known will simply disappear, until there are only the top and in-demand coins that are able to survive in today’s realities.

Of course it is too early to talk about it now, things may change tomorrow if there is any positive news. But we can only wait and see what happens.

And to start trading cryptocurrencies today, you can use the RevenueBot cryptocurrency bot service.

Numen Cyber working with Binance ​​to further enhance security of the Web3 ecosystem 5077

Numen Cyber Technology, a Singapore-based cybersecurity company specializing in Web3 security solutions, recently announced that it is cooperating with Binance, the world’s leading blockchain ecosystem. As part of the technical cooperation, Numen will work with Binance to further bolster the security of the Binance ecosystem.

Numen will provide security capabilities for the Binance ecosystem across various areas, including conducting smart contract audits of on-chain projects. Binance will also leverage Numen’s expertise in threat detection and response, as well as its security event analysis and backtracking, to prevent potential economic losses caused by security attacks.

Furthermore, both companies will conduct Web3 security research aimed at functionally improving the security levels of Binance and its related projects to eliminate any potential security risks and vulnerabilities within its ecosystem.

As the Web3 threat landscape rapidly evolves, the technical cooperation between Binance and Numen is intended to continue to strengthen the security of the Binance ecosystem and help to restore the public’s confidence in the safety of the Web3 industry.

About Numen Cyber

Numen Cyber Technology is a Singapore-based cybersecurity company specializing in Web3 security solutions. The organization has discovered critical vulnerabilities in some of the world’s most well-known Web3 projects, including Aptos, Sui, Eos, Ripple and Tron.

With its Cyber Labs team comprising the world’s top security experts, it offers Web3 security services that can comprehensively cover all stages of a Web3 project’s lifecycle, such as security audits for smart contracts, public blockchains, smart wallets and exchanges.

Numen also offers on-chain smart contract threat detection and response, Web3 security situational awareness, digital currency tracing and Web3 threat intelligence to protect the digital asset security of Web3 projects and their users.

For more information, please visit numencyber.com or follow its official Twitter account at twitter.com/numencyber.

CME Group Announces Launch of Euro-denominated Bitcoin and Ether Futures 7242

CME Group, the world’s leading derivatives marketplace, today launched Bitcoin Euro and Ether Euro futures.

“The launch of these new futures contracts builds on the strong growth and deep liquidity we have seen in our existing U.S. dollar-denominated Bitcoin and Ether futures contracts,” said Tim McCourt, Global Head of Equity and FX Products, CME Group. “Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, both within and outside the U.S., with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap.”

Bitcoin Euro and Ether Euro futures contracts will be sized at five bitcoin and 50 ether per contract. These new contracts will be cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of bitcoin and ether.

These new futures contracts will be listed on and subject to the rules of CME.

For more information on this product, please visit https://www.cmegroup.com/cryptocurrencies#explore-our-cryptocurrency-products.

As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing.

Cristiano Ronaldo and Binance Team Up For a Legendary NFT Partnership 4324

Binance Team beyond excited to announce exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo.

The five-time Ballon D’or winner is joining forces with Binance to provide a one-of-a-kind experience for football fans worldwide, with a series of NFT collections that will launch exclusively on Binance’s official NFT platform. Registered Binance users in select countries will also be able to purchase the collections using Binance Pay.

The first collection, slated to launch later this year, will feature iconic designs created in collaboration with Ronaldo. “My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of,” said Ronaldo. “I know the fans are going to enjoy the collection as much as I do.”

Through this partnership, Binance is taking the sports fandom experience to unprecedented levels. Moreover, it will build on existing partnerships with the Argentine Football Association, the Brazilian Football Confederation, and professional sports clubs S.S. Lazio (IT) and FC Porto (PT).

“Cristiano Ronaldo is one of the world’s best footballers, and has transcended sport to become an icon in multiple industries. He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work,” said Binance Founder and CEO “CZ” (Changpeng Zhao). “We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”

To all the NFT, football, and Cristiano Ronaldo fans, this is only the beginning of what’s to come.

Baby Shark BubbleFong Friends NFTs, First Sale on Binance NFT 5158

BBF Inc. has announced that ‘Baby Shark BubbleFong Friends‘ NFTs will be released on the Binance NFT, the official NFT marketplace of Binance, on the 10th of this month. Featuring the beloved characters of Pinkfong Wonderstar, these will be the first collection of the ‘Baby Shark BubbleFong Friends’ NFTs.

For its first collaboration with Binance NFT, BBF Inc. plans to release 2,504 Mystery Box NFTs featuring the adorable characters from Pinkfong Wonderstar, the hit 3D animated series of The Pinkfong Company, on the Binance NFT on the 10th. The Binance NFT Mystery Box ‘Baby Shark BubbleFong Friends NFTs’ is designed to enable Play-to-earn and token mining within the game. Detailed sales and event information will be released later on the Binance NFT official website and social media channels.

‘Baby Shark BubbleFong Friends’ is a P2E game developed by Day1 Entertainment based on the Pinkfong Baby Shark IP, the world-renowned IP of The Pinkfong Company, after Day1 Entertainment entered into a license agreement with The Pinkfong Company.

Meanwhile, ‘Baby Shark BubbleFong Friends’ is currently holding a Pre-Registration Event through the official Pre-Registration page (bbfpreregistration.io/) for global user. Those interested can find detailed information about the event on the website and through community channels.

‘Baby Shark BubbleFong Friends’ is a classic arcade bubble shooter P2E game that is fun and easy to enjoy. Along with various game contents, it is scheduled to be released globally within the first half of this year except South Korea, Vietnam, Singapore, North Korea, and China pursuant to the regulations of each country.

About BBF Inc.

BBF Inc. is a U.S.-based operating corporation that oversees the global operation and business of P2E game Baby Shark BubbleFong Friends.

LABEL Foundation Integrates With Binance Custody To Offer Cold Storage Support For $LBL Token 5335

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LABEL Foundation has announced that it has officially integrated with Binance Custody to take advantage of their highly secure cold storage solution. With this integration, LABEL’s native tokens can be kept safely as the $LBL is now supported by Binance Custody and the tokens are safely stored using their institutional and insured cold storage feature. Moreover, both BEP-20 and ERC-20 are available for deposits as well as withdrawals. If all goes well, the LABEL team hopes to further expand its partnership with the Binance ecosystem in the future as well.

A budding relationship

Binance Custody was only released in 2021, but there is still nevertheless plenty of faith in the high level of user protection being offered by the service. LABEL had been searching for a reliable custody service for quite a while, and when choosing a custody service, the main aspects that LABEL primarily focused on were security and insurance coverage. Keeping that in mind, Binance Custody indeed appeared to be the optimal choice as it uses industry-leading secure MPC (Multi-Party Computing) , threshold signing schemes, and offline key-sharing storage to decentralize fund management, all of which are vital components to ensuring the safety of users’ digital assets.

Also, in terms of insurance, Binance Custody obtained insurance from Arch Syndicate 2012 at Lloyd’s of London, which was mediated by Lockton’s Emerging Asset Protection (LEAP), the world’s largest independent insurance broker, to further enhance investor protection. Insurance is one of the most important factors when it comes to a custody service, as it provides peace of mind to the customers as even if something does go wrong, the losses can be recovered.

The benefits of transferring ownership of digital assets to Binance Custody are hence not only limited to security from hackers and malicious individuals, but also delegation of authority. By sharing access with the custodian and delegating this authority, users can hence potentially prevent the loss of assets in the event of lost cryptographic inheritance, private passwords, or any other kind of data loss or hack.

Why choose Binance Custody?

Choosing Binance Custody was an easy choice for LABEL Foundation because of its aforementioned safe cold storage solution. As LABEL is all about revolutionizing the music industry through Web 3.0 technology, integrating with Binance Custody provides another level of security by protecting users’ $LBL tokens with the institutional-grade digital asset management infrastructure and security features. Once again, this provides some much-needed peace of mind to LABEL’s customers as reliable security measures have quickly become mandatory for any project in this industry. According to CSO Hyung Soon Choi, there will also be discussions on potentially considering further strategic collaboration with Binance Custody and the broader Binance Ecosystem.

What is Binance Custody?

Binance Custody is widely considered to be a top service as it is completely regulated, insured and effortlessly integrated with the overall Binance ecosystem. Fully customized solutions are offered via the service, as it essentially acts as an uncompromising platform between top-notch security and a simple as well as efficient user experience which provides a customizable multi-permission scheme. This in turn enables institutions and individuals alike to operate crypto assets in a systematic, secure and controlled manner.

The core technology behind Binance’s Custody is additionally certified to ISO 27001 and 27701, the world’s most recognized and sought-after quality control standards for information security and privacy, which is yet another reason as to why so many are actively choosing Binance Custody.

About LABEL Foundation

LABEL Foundation is a blockchain-oriented NFT copyright fee sharing platform that supports investment, distribution and advertising processes, removes significant barriers to modern content production and investment, and strives to eliminate the biased profit sharing structure that currently exists in this industry.

Essentially, LABEL Foundation represents an incubation system designed to disrupt the DeFi industry and it uses the native $LBL token, which is Ethereum-based governance and utility token, to do so. The native token may also be used in a variety of ways to help bolster the expansion of the LABEL ecosystem. Furthermore, the tokens are mainly used to establish the basic token economy of the platform by acting as payment, staking and governance entities. Lastly, the DAO (Decentralized Autonomous Organization) voting infrastructure allows contributors to claim profits via the non-fungible token shareholding system, which adds a strong sense of community that is actively associated with LABEL and everything that it does.

For more information and regular updates, be sure to check out the official website and Medium, Telegram and Twitter channels.