Binance announces changes to stablecoin handling, bitcoin falls below $20,000

Binance announces changes to stablecoin handling, bitcoin falls below $20,000

Yahoo Finance published this video item, entitled “Binance announces changes to stablecoin handling, bitcoin falls below $20,000” – below is their description.

#Binance #stablecoin #bitcoin

Yahoo Finance’s David Hollerith breaks down the latest news in the crypto markets.

Yahoo Finance YouTube Channel

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In This Story: Binance

Binance is a cryptocurrency exchange which is currently the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

The company has launched various cryptocurrencies: Binance Coin (BNB), launched June 2017, and Binance Smart Chain (BSC), launched September 2020. Binance Smart Chain operates using “Proof of Staked Authority”, a combination of proof of stake and proof of authority.

Binance is currently under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses. The UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.

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In This Story: Bitcoin

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency.

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In This Story: Stablecoin

Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities.

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