Crypto Weekly – Binance Futures Records Gains, Libra Members Companies to Meet in Switzerland

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Crypto Weekly – Binance Futures Records Gains, Libra Members Companies to Meet in Switzerland

Key Highlights

  1. Binance Futures’ Volume Exceeds Binance Spot Trading
  2. Japanese Exchange Launches Bitcoin Reward System For Gas Bill Payments
  3. John McAfee All Set To Release His Own Decentralized Exchange
  4. Libra Reveals First Roadmap; Member Companies Set to Meet in Switzerland in October
  5. BitLicense May be Enforced in 5 More US States; Receives Pushback From a Lobbying Group

Binance Futures Volume Shows Tremendous Gains 

Binance’s Bitcoin Futures platform is seen to have made incredible gains within the first few days of its launching. In fact, the platform has outperformed the Binance.com spot market in terms of BTC trading volume within the last 24 hours. The 24-hour trading volume of Binance’s futures markets was seen to have crossed 30,500 BTC. Denominated in USDT, the equivalent of this would come to over $250 MM. Further, the figures were also said to have exceeded those of Binance spot trading which recorded a relatively lower 24-hour trading volume of 219,868,241 million denominated in USDT.

Coincheck Launches Bitcoin Reward System for Gas Bill Payments 

In a bid to encourage the mass adoption of bitcoin and bring the cryptocurrency to mainstream users, Japanese crypto exchange, Coincheck has launched a bitcoin reward system that will enable consumers in Tokyo to earn bitcoin incentives by paying gas bills using the cryptocurrency at a discount.

This arrangement comes as a partnership between Coincheck and E-net systems in which the two companies have agreed to offer Coincheck Gas, a gas service consisting of two kinds of payments systems – firstly, customers can receive a discount on gas payments paid in bitcoins and secondly, customers can simply receive bitcoin as a reward for using their gas service.

Libra Member Companies to Meet in Switzerland in October

Since Libra’s official announcement in June, the community of developers has been working earnestly and have released several blockchain explorers. These include libranaut, libraview, librabrowser, and libexplorer. In a recent update, Libra has published its roadmap. The roadmap consists of four milestones before the mainnet launch.  Member companies of the Libra Association are set to meet later this month in Switzerland. Also, representatives from the companies will appoint a board of directors for the Libra Association at the meeting.

John McAfee Announces Launch of His Decentralized Exchange 

John McAfee, in a recent tweet, announced that he is all set to unveil his own decentralized exchange coming Monday. Per the tweet, the exchange would be completely decentralized. This implies users need not submit any document, e-mail, bank info or transaction details. Also, nothing on the platform will be monitored, there will be no restrictions and no listing fees whatsoever. The tweet further mentions that there will be 0.25 % transaction fees. The exchange will run on Ethereum blockchain and will allow the free addition of any ETH based token. Moreover, the platform will have “0” maker fees. The platform is slated for Beta release on the 7th of October. 

BitLicense Spreads Wings to 5 Other US States 

BitLicense may soon become a regulatory requirement for crypto businesses in 5 more US states. The Aquarian Advocacy Group (TAAG) which was officially launched the previous week is all set to defeat BitLicense legislation before it spreads its wings and tries to “crush innovation.”

Presently, only New York and Washington have BitLicense as a regulatory requirement. However, as per the Aquarian Advocacy Group, California, Hawaii, Nevada, Rhode Island, and Oklahoma could soon be adopting this regime. This, in turn, could adversely affect the crypto businesses in these states.  

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Crypto Weekly - Binance Futures Records Gains, Libra Members Companies to Meet in Switzerland
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Crypto Weekly - Binance Futures Records Gains, Libra Members Companies to Meet in Switzerland
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Binance Futures’ Volume Exceeds Binance Spot Trading Japanese Exchange Launches Bitcoin Reward System For Gas Bill Payments John McAfee All Set To Release His Own Decentralized Exchange Libra Reveals First Roadmap; Member Companies Set to Meet in Switzerland in October BitLicense May be Enforced in 5 More US States; Receives Pushback From a Lobbying Group
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Author: Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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Supriya Saxena 189 Articles

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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