But the reasons dreamed up by the news are completely wrong.”īNB was down 4.50% to $235.4 this morning.īNBUSD 080723 Weekly Chart Bitcoin ETF Euphoria Waned on JPMorgan Assessment Yes, there is turnover (at every company). News of executive-level departures and reports of Binance cutting headcount also tested buyer appetite.īinance CEO CZ tried to downplay the news, saying, The latest regulatory probe follows increased scrutiny by regulators in Europe as governments and regulators respond to the SEC filing against Binance.US, Binance, and Binance CEO CZ. The Australian regulator reportedly searched the Binance offices. On Wednesday, news hit the wires of the Australian Securities & Investments Commission ( ASIC) investigating Binance’s Australian derivatives business. Increased regulatory scrutiny tested binance coin ( BNB) support, as the Australian Security and Investment Commission (ASIC) joined a growing list of regulators to investigate the exchange. It was another tough week for Binance and Binance CEO CZ. XRPUSD 080723 Weekly Chart Binance Troubles Continued to Grow as Regulatory Scrutiny Intensified Welfare offered two real-use cases related to real estate tokenization, including allowing users to tokenize real estate as collateral for loans.įor the current week, XRP is down 3.67% to $0.4667, with the bears targeting a fourth weekly loss in five weeks. “CBDCs are gaining traction globally, and Ripple CBDC team are focusing in on real-world use cases for a CBDC or stablecoin.” Ripple CBDC advisor Antony Welfare had this to say, Ripple is actively exploring CBDCs and use cases of CBDCs and stablecoins in the real world. News of Ripple entering the tokenized real estate space was also XRP positive, with the Ripple platform continuing to grow despite the SEC v Ripple case.Ĭentral Bank Digital Currencies have gained traction this year. “UBRI has now established more than 50 university partners across six continents, awarded 590 fellowships and scholarships, and supported the publication of over 1,000 research articles and presentations.” Sharing the latest on Twitter, Ripple said, On Friday, Ripple shared updates on the UBRI program that started in 2018. Investors brushed aside Ripple-related news that, under normal circumstances, would deliver XRP price support, reflecting the bearish sentiment toward the Court silence. However, the documents failed to cause a market uproar, leaving investors in limbo until the summary judgments. The XRP community had hoped for a settlement before the SEC released the speech-related documents. Sentiment has deteriorated since the SEC released the William Hinman speech-related documents. The lack of Court rulings left XRP in a bearish trend pattern. It was another quiet week for XRP, with no updates from the ongoing SEC v Ripple case to provide direction. Today, with more than 3 million active holders and 18 billion coins in circulation, BUSD is accepted as payment by a variety of businesses and individuals globally.XRP Underperforms on SEC v Ripple Silence Because of this, BUSD is considered one of the safest among the top stablecoin in existence.īUSD is used as a means of payment that can be sent internationally and verified on the public blockchain ledger within seconds. This very strict accounting and reconciliation process necessitates a monthly audit in order to verify the safety of investors’ funds, as well as other security measures put in place by the New York Department of Financial Services (NYDFS) and other regulatory agencies.Īdditionally, BUSD is one of the only existing fiat-backed stablecoins with records that verify the security of its physical reserves. The partnership entails Paxos holding the equivalent of fiat USD in reserve for every BUSD stablecoin in circulation. Binance USD (BUSD) is a stablecoin , so its value is pegged to a fiat currency - in this case, the US dollar.īUSD was launched in September 2019 as part of a joint partnership between Binance and blockchain and finance company Paxos, headquartered in New York.
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