NewsBitcoin Daily: Binance's Decentralized Exchange

Bitcoin Daily: Binance’s Decentralized Exchange

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Digital currency exchange Binance, which has approximately $1 billion in trading volumes each day, rolled out a decentralized trading service (dex), according to reports. With the concept of a dex, users can trade using their wallets instead of transferring their digital currency into a crypto exchange. Binance CEO Changpeng “CZ” Zhao in an announcement for the launch, “With the core Binance Chain technology, Binance DEX can handle the same trading volume as Binance.com is handling today. This solves the issues many other decentralized exchanges face with speed and power.”

In other news, digital currency surveillance firm Solidus Labs notched $3 million in funding, Coindesk reported. Hanaco Ventures reportedly led the round, with participation from David Krell, Norman Sorensen and Global Founders Capital. With the investment, the company is looking to grow its machine learning and engineering efforts along with growing its teams. Solidus Founder and CEO Asaf Meir said, according to reports, “Our machine learning-powered surveillance system is able to continuously learn as new patterns emerge and reveal new manipulation schemes or openings for manipulation.”

On another note, legislators in Wyoming recently passed multiple bills related to digital currency, Coindesk reported. The state’s house of representatives approved SF0125 to help enable banks to become custodians of digital assets. According to the bill, digital assets are “a representation of economic, proprietary or access rights that is stored in a computer readable format, and includes digital consumer assets, digital securities and virtual currency.” The legislative body also passed HB0185, which allows for the issuance of securities in the form of tokens, and HB0074 to address the challenges of banking for digital currency startups.

And the Chamber of Digital Commerce, an advocacy organization, is looking for U.S. government support of blockchain technology, Coindesk reported. Perianne Boring, the chamber’s founder and president, said per reports, “Other developed nations are promoting the adoption of blockchain and digital assets. It is imperative that the U.S. also recognize the power and potential of blockchain technology.”



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