Monat: September 2023

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Binance partners with MUFG to issue a stablecoin in Japan by end of 2024

Key takeaways

  • Binance Japan is exploring the possibility of issuing a stablecoin in Japan by the end of 2024.

  • The crypto exchange is working with MUTB, a unit of Japan’s MUFG. 

Binance Japan plans to issue a stablecoin in Japan

Mitsubishi UFJ Trust and Banking Corporation (MUTB) and Binance Japan Inc (Binance Japan) are currently working together to explore the possibility of issuing a stablecoin in Japan. MUTB is a unit of Japanese bank MUFG.

This latest cryptocurrency news comes as Binance looks to strengthen its position in the region after it re-entered the Japanese market. 

The stablecoin will be pegged to fiat currencies, including the Japanese Yen and other foreign currencies.

In November 2022, Binance acquired a 100% stake in Sakura Exchange BitCoin (SEBC), a regulated cryptocurrency exchange in Japan, marking its re-entry into the Japanese market. 

According to the press release, MUTB is currently leading the development of the “Progmat Coin” platform as an infrastructure for issuing stablecoins per the revised Payments Services Act enforced in June 2023.

The two entities plan to commence stablecoin operations by the end of 2024 after obtaining the necessary regulatory approvals. 

Binance Japan is now operational

This latest development comes roughly a month after Binance Japan began its operations. Binance Japan is currently offering 34 tokens, making it the largest number of tokens offered on any digital exchange in the country.

Takeshi Chino, general manager of Binance Japan, said in the statement,

“Stablecoins have important use cases across the broader financial ecosystem – from a lower-cost and instantaneous cross-border trade settlement for business clients to the facilitation of trading other cryptocurrencies seamlessly for retail investors — stablecoins fill an important financial services need and are crucial for the success of Web 3.0 adoption.” 

Tatsuya Saito, vice president of product of MUTB, added that,

“We believe that the new stablecoin from this collaboration will be a step forward in advancing Web 3.0.”

Binance Japan has indicated that it intends to offer a minimum of 100 tokens on its platform in the coming months.

The post Binance partners with MUFG to issue a stablecoin in Japan by end of 2024 appeared first on CoinJournal.

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MicroStrategy purchases 5,445 bitcoins as Chancer’s presale hits $2.2m

Key takeaways

  • Bitcoin continues to trade below $26,500 despite MicroStrategy’s latest BTC purchase.

  • Chancer’s stage two presale has now surpassed the $2.2 million mark.

The cryptocurrency market began the week in a bearish mode, with prices of most coins and tokens in the red zone over the last few days. However, that hasn’t halted Chancer’s presale as it continues to hit new milestones.

MicroStrategy purchases 5,445 bitcoins

Michael Saylor’s MicroStrategy has continued its foray into the cryptocurrency market by acquiring more bitcoins. The company announced the purchase of 5,445 bitcoins on Monday for $147.3 million at the average price of $27,053 per coin. MicroStrategy now holds 158,245 bitcoins acquired for a total of $4.68 billion.

Despite MicroStrategy’s acquisition of over 5,000 bitcoins, BTC’s price continues to underperform. At press time, the price of Bitcoin stands at $26,273, up by less than 1% in the last 24 hours. Bitcoin has lost more than 2% of its value over the last seven days. 

What does this mean for Chancer?

MicroStrategy purchasing more bitcoins could serve as an indicator that more institutional investors have faith in the crypto market despite the ongoing bearish trend. Investors could be looking to purchase more cryptocurrencies and invest in exciting projects ahead of the next bullish cycle. 

Chancer could be one of those projects thanks to its exciting prospect. The project is currently in its second presale stage and has now raised more than $2.2 million. 

The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform designed to enable users to live-stream betting events. The project seeks to decentralise the online betting industry by using blockchain technology. 

When using Chancer, there would be no restriction to betting opportunities for users. This means that users can bet on numerous events beyond the available sports and casino bets. 

The Chancer presale is in its second stage and has raised over $2.2 million of the $2.5 million required. The funds generated from the multiple presale rounds would be used to build Chancer’s decentralised P2P betting platform. 

In their whitepaper, Chancer said its users would have access to numerous features such as betting markets in real-time and based on user interests, social media connections, and expertise. 

Users will also no longer deal with the challenges associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

With Chancer, users can bet on various activities. This means that users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.013 in the next presale stage

Chancer’s second presale stage is close to completion, and the team will move to the next phase. In this current presale stage, the CHANCER token is going for $0.012 USDT

The token price will increase to $0.013 in the third presale round. There would be 12 presale events, with an accumulated target of $15 million. 

According to the team, the CHANCER token will power numerous activities within the ecosystem. CHANCER token holders would be allowed to create and invest in markets within the ecosystem.

In addition to that, token holders can also create, participate in, and profit from their very own predictive markets. 

Interested investors can purchase the CHANCER token using numerous wallets, including Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

The crypto market has been bearish in recent days, granting investors more opportunities to invest in quality projects. Investors looking to get into early-stage projects could consider Chancer, thanks to its unique niche. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond over the coming years. The adoption of the Chancer platform could see its CHANCER token rally higher in the medium to long term. 

The post MicroStrategy purchases 5,445 bitcoins as Chancer’s presale hits $2.2m appeared first on CoinJournal.

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Binance reopens exchange services in Belgium

  • Binance announced on Monday, September 25, that it had reopened customer registrations in Belgium.
  • The exchanges products and services are also accessible in the country to customers who accept new Terms of Use.
  • Binance had halted operations in the country in August, directing customers to a Polish entity.

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that new customer registration and access to products and services is now reopened in Belgium.

The announcement comes nearly a month since the exchange notified its customers that access to Belgian customers would be available via Binance Poland. That move followed an order from the Belgium market regulator warning Binance not to offer its services in the country.

As CoinJournal reported in late August, Binance had said the decision to provide its services via the Polish entity would help it work on its regulatory compliance process in Belgium. 

Apart from account registration, virtual currency products and services on the Belgium platform are now available to local customers. However, this willl be possible for Belgians who will have accepted the new Terms of Use.

Binance has over the past few months had to exit a few markets, including Canada, over regulatory issues and is battling a lawsuit filed by the US Securities and Exchange Commission (SEC). In August, the company ended support for its crypto cards in Latin America and the Middle East after its partner Mastercard reportedly ended their collaboration.

The post Binance reopens exchange services in Belgium appeared first on CoinJournal.

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Huobi Global suffers $8 million hack

  • HTX (formerly Huobi Global) was hacked for $8 million as a hacker stole 5,000 Ether (ETH).
  • Justin Sun confirmed the hack today, noting the exchange offered the hacker a 5% “white hat bonus” to return the loot.

HTX (formerly Huobi Global) is the latest cryptocurrency exchange to fall victim to hackers after attackers stole $8 million worth of crypto. 

The incident was first highlighted by blockchain security and analytics platform Cyvers, which alerted the Huobi Global team to the attack involving 4,999 Ether (ETH) drained from one of the exchange’s hot wallets. 

Justin Sun says user funds are SAFU

On Monday, Tron founder Justin Sun posted on X that indeed HTX had suffered the hacking incident. He pointed to a loss of 5,000 ETH worth $8 million, but added that the exchange had covered the losses in full. User funds were also reportedly safe, with platform operations normal.

The attack reportedly unfolded on September 24, with the total amount stolen from this attack on yet another exchange put at $7.9 million at the time. HTX immediately responded to Cyvers’ alert, taking swift action and notifying the public. An update included a message to the hacker that the HTX security team had “unmasked” the attacker’s identity.

Huobi offered a 5% “white hat bonus” to the attacker.

“We are willing to offer 5% of the stolen amount (400,000 USD) as a white hat reward to encourage the hacker to return the stolen funds. If the hacker returns the funds, we will also hire them as a security white hat advisor for HTX,” Sun wrote on X.

The exchange plans to involve law enforcement if the hacker fails to return the looted funds within seven days.

HTX’s breach comes a few weeks after the then Huobi Global team dismissed insolvency rumours and claims that its representatives had been detained in China. 

The hack also comes not long after crypto exchange CoinEx suffered a major breach that saw North Korea’s Lazarus Group steal $70 million. CoinEx had suspended deposits and withdrawals following the attack, only announcing a resumption last week.

The post Huobi Global suffers $8 million hack appeared first on CoinJournal.

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Bitcoin Drops To $26k: Should Investors Buy More Shiba Memu Tokens

TL;DR

  • Bitcoin has dropped to the sub-$26k level as bears remain in control.

  • Shiba Memu’s presale has now surpassed the $3 million mark as more investors troop in.

The cryptocurrency market has been bearish over the weekend. The prices of Bitcoin and other cryptocurrencies are in the red zone as sellers continue to be in firm control of the market.

However, Shiba Memu’s presale continues to break records and has now surpassed the $3.2 million mark. 

Bitcoin drops to the $26k level

Bitcoin, the world’s leading cryptocurrency by market cap, has been underperforming over the last few hours. It has lost more than 1% of its value today, with the bears in control of the market. At press time, the price of Bitcoin stands at $26,161 per coin. 

The other leading cryptocurrencies, including ETH, SOL, SHIB, and XRP, are all trading in the red zone. The decline in prices could serve as an opportunity for investors to invest in more projects. 

The bearish sentiment hasn’t affected Shiba Memu’s presale as it hit a new milestone. This presale round has now generated more than $3 million. 

What is Shiba Memu?

Shiba Memu is a meme token project that wants to ease the way people and organisations handle marketing campaigns. The project is leveraging the powers of blockchain and AI technologies to offer real-world value to users. 

While the project is still in its presale stage, investors have already pledged millions of dollars to the development of its products. At the moment, the Shiba Memu stage two presale has raised more than $3 million. 

According to their whitepaper, Shiba Memu will use blockchain and AI to develop an unstoppable, entirely self-sufficient marketing powerhouse. The platform can handle the work of 100 marketing agencies with the help of AI. 

Users who deploy Shiba Memu will have the platform working 24/7 for them to identify ideal creative scenarios and develop excellent marketing campaigns. 

Shiba Memu is launching as a meme project thanks to the rise in the popularity of meme tokens in recent years. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $20 billion in 2022. 

Shiba Memu will be a step above most meme projects as it will offer users real-world use cases. Shiba Memu will be able to develop its own marketing strategies, write its own PR, and promote itself in relevant forums and various social media platforms.   At the moment, Shiba Memu operates on BNBChain and Ethereum.

Shiba Memu’s presale surpasses $3 million

The crypto market has been bearish over the weekend, but that hasn’t stopped investors from seeking out quality projects. Shiba Memu’s stage two presale recently hit an important milestone. The project has raised $3.2 million in this current presale round and could reach its target very soon. 

Funds generated from the numerous presale rounds would be used to develop the Shiba Memu products. Most of the funds would be allocated to the development of the Shiba Memu AI technology. 

Click here to find out more about Shiba Memu’s presale event. 

Should you invest in Shiba Memu today?

The cryptocurrency market began the week in a bearish mode, and this has created investment opportunities for investors. As investors continue to search for excellent projects, Shiba Memu could be an excellent choice. 

Shiba Memu will be combining the powers of AI and blockchain technologies to develop an excellent marketing platform. The platform will look to ease marketing strategies for companies and organisations. 

Shiba Memu’s SHMU token could be a leading meme token with the right level of adoption. 

The post Bitcoin Drops To $26k: Should Investors Buy More Shiba Memu Tokens appeared first on CoinJournal.