Margin trading on Binance to BE, and other exchange news

By May 9, 2019 10:25

Binance exchange-coinconomist

During discussions of the recent hacker attack and plans for the future, the CEO of the Binance Exchange, Changpeng Zhao, confirmed that the exchange will soon launch margin trading.

“Yes, we are working on a margin trading system that will be launched very soon. First, for several of our key customers, large traders who will help us test it,” said Zhao.

In addition, Zhao noted that the corresponding code is already ready and the system is currently being tested.

Recall that the end of March Coinconomist reported on the possible launch of margin trading at Binance. Then the user of Reddit noticed that the changes made to the public application programming interface (API) of the exchange (namely, the addition of Boolean variables that should not be) indicated that the company was already working on the introduction of margin trading.

Changheng Zhao also said that Binance is actively discussing the possibility of issuing its own stablecoin, but there are no details on how and when this will happen. And on the Launchpad platform at the same time, the selection of candidates for the subsequent IEO …

But while the team is focused on eliminating the effects of hacking and improving the security of the exchange. Therefore, obviously, plans for the future will be somewhat postponed.

Justin Sun offered to cover losses Binance due to hacking

We also note that the founder of the TRON Foundation, Justin San, is ready to assist Binance and personally allocate funds for a total of 7,000 BTC that the exchange has lost as a result of hacking. About this he wrote in his tweet:

“To support @binance , I will personally deposit 7000 BTC worth USDT (40 million USDT) into @binance to buy $BNB, $BTC , $TRX & $BTT if @cz_binance agrees. No need to #FUD! Funds are #SAFU!”.

Zhao thanked for such a noble gesture, but refused to help. He noted that there is no need for outside help, as the exchange will be able to cover all the losses thanks to the #SAFU fund.

Zhao also thanked other exchanges that declared their intention to block deposits received from the addresses of intruders.

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By May 9, 2019 10:25