![]() If you have any familiarity with the crypto market, you've likely already heard of Binance and Kraken. How do these two sites compare in terms of pros and cons, security, and more? Let's take a closer look. How can you find an exchange that makes sense for you? It starts with research into each platform. They leave something to be desired, which is the last thing you want to hear when it comes to trusting your hard-earned money with a financial service. 1.As cryptocurrencies continue to grow in popularity worldwide, so do the number of exchange platforms that facilitate digital currency transactions. You'll find some of these platforms easy-to-use, highly educational, and very secure and safe. The company will officially close down Novi Sept. Facebook parent Meta, meanwhile, announced plans to shutter its Novi digital wallet this week, one of the final bastions of the social media network’s Libra project which was intended to help it muscle its way into the cryptocurrency field. Tough times in the industry have seen other firms bow out, leading crypto brokerage Voyager to declare Chapter 11 bankruptcy Wednesday following a defaulted loan to Three Arrows Capital and prolonged volatility in the market. As CFO, Jasmine will work to ensure sound financial operations and proper stewardship of customer assets remain core to Binance.US’s business in the current environment and beyond.” “To date, Binance.US has not offered margin to its customers, and is thus insulated from these issues. “We are seeing market participants today run in to issues around the use of leverage,” the Binance.US spokesperson wrote in an email regarding current cryptocurrency market trends. Assets under management for crypto projects also decreased severely during this period. The cryptocurrency industry has wobbled in recent months following crashes of stablecoins such as Luna, with digital currency bitcoin’s value particularly dipping 60% between April and June - one of its worst quarters on record, according to a Monday report by Bloomberg. Lee’s CFO appointment comes a few weeks after the platform removed spot trading fees for bitcoin, with Binance.US President and CEO Brian Shroder stating the move would help to generate positive feedback from users as well as expand cryptocurrency access, according to a June 23 report by CoinTelegraph. citizens following regulatory scrutiny approximately a day after it had noted plans to expand to the country, according to a June 14 report that year by CoinDesk. partner of global cryptocurrency exchange Binance - itself based in the Cayman Islands - which announced in 2019 that it would no longer offer services to U.S. ![]() The Palo Alto, California-based cryptocurrency platform is the U.S. ![]() She began her career at audit firm Ernst & Young (EY). ![]() She also held the CFO role for the company’s global consumer product as well as PayPal-owned payment corporation Xoom, according to her LinkedIn account. Previously, Lee served as CFO and COO for Acorns, and was CFO and COO of consumer product and engineering for for payment processing company PayPal. We are positioning our business to weather these storms and thrive over the long-term.” “We expect a more favorable environment then, but also understand the reality that there will be draw downs and periods of volatility in the future just as there are today. “We are targeting an IPO in 2-3 years,” the spokesperson wrote. The beaten down crypto market has not derailed Binance.US’s plans to eventually go public. Lee will work to guide Binance.US through its plans for a future IPO, according to a company spokesperson, who noted the cyclical nature of markets in an email, stating that financial markets “globally are under pressure presently for various macro and idiosyncratic reasons.” ![]()
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