Exchanges Roundup: BNB on Etoro, Binance Freezes Wex Funds, Bittrex International
In cryptocurrency exchange news, Binance’s native coin has listed on Etoro, Bittrex has announced the upcoming launch of its Malta-based international exchange, and Chris Lee of Huobi has predicted that security token offerings will become a mainstream form of fundraising within five years.
Also Read: Bitcoin Trader Faces Five Years in US Jail for Unlicensed Money Transmitting Business
BNB Lists on Etoro in First Listing Outside of Binance
Binancecoin (BNB) has been listed on Etoro, bringing the number of cryptocurrencies supported by the platform to 13. The listing comprises the first instance in which the altcoin has been listed on an exchange other than Binance.
The chief executive officer and co-founder of Etoro, Yoni Assia, stated: “Despite sensational headlines about the death of crypto, we continue to believe in the potential for crypto assets, as do our clients who are increasingly looking to diversify their crypto holdings. In response, we will continue to add the leading crypto assets to our range and we are pleased to add BNB to the platform.”
Binance Freezes Funds From Wex Worth $18.5 Million
It has been revealed that on Oct. 25 Binance froze more than 93,000 ETH that had been transferred from the embattled Wex exchange, valued at $18.5 million.
In response to a post on Twitter emphasizing the movement of funds from Wex to Binance dating back to August, Changpeng Zhao, the chief executive officer of Binance, tweeted: “The identified accounts are frozen, please report to law enforcement and have a case number. We will work with [law enforcement]. This is part of centralization we hate too, dealing with other exchange’s mess (we don’t even know the details). But we will do what we can.”
Users of Wex appear to have been unable to withdraw fiat or cryptocurrencies from the exchange for more than three months, with recent reports claiming that 35 complaints have been filed against Wex with the Russian Interior Ministry.
Bittrex Announces Upcoming Launch of Bittrex International
Bittrex has announced that it will launch Bittrex International, formerly branded as Bittrex Malta.
The exchange will seek to target users based outside of the United States, with Bittrex also promising “a streamlined token approval process” designed to facilitate the onboarding of new markets in “weeks instead of months.” The launch of the new exchange will also see a “European-based Bittrex affiliate” listing particular tokens that are available on the Bittrex International platform and not the US-regulated Bittrex exchange.
If tokens are approved through Bittrex’s “standard initial review process,” prospective projects will be “directed to follow the process outlined in the Malta Virtual Financial Assets Act.”
Huobi’s Chris Lee Predicts STOs Will Become Mainstream in 3-4 Years
Chris Lee, the former chief executive officer of Okex and the current board secretary and vice president of global business development for Huobi, has stated his expectation that security token offerings (STOs) will become a “mainstream fundraising method” in approximately three to four years.
Speaking to Huoxun Finance, Lee added: “Time will prove everything, [STOs are] indeed a big opportunity, as I believe asset-backed tokenization, which is the digital assets backed by physical assets, have the potential to drive the entire crypto industry to a higher level. There will be a place for STO in Hong Kong’s capital market one day.”
What is your response to Binance’s freezing of 93,000 ETH associated with Wex exchange? Share your thoughts in the comments section below!
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