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Crypto News of the Day (31.3.) | Binance buys CoinMarketCap, reportedly for $ 400m • and more

3 min read
Crypto News of the Day (31.3.) | Binance buys CoinMarketCap, reportedly for $ 400m • and more

Here you can find an overview of the most important events that took place during the last day in the cryptoworld.

 

Markets

After yesterday’s relatively slight decline, the cryptocurrency market recovers and grows again. Bitcoin is currently trading above $ 6,400. Altcoins are also mostly in green numbers. However, since the outbreak of the pandemic, the Fear & Greed index is still in extreme fear. In this situation, it is necessary more than ever to watch the fundamental news from the world, because they have a great influence on the development of crypto markets.

 

You can monitor the current cryptocurrency prices – here.

Cryptocurrency exchanges, Banks

 

 

Binance is in the final stages of talks to acquire CoinMarketCap. The crypto exchange is looking to pay as much as $400 million for the deal. The agreement is expected to be announced this week. If the deal was successfully completed, it would be one of the largest acquisitions in crypto space.

 

Just earlier this year, Binance CEO Changpeng “CZ” Zhao said that there are two acquisitions in the pipeline that he is “very excited” about. These are “major” and will have a “significant impact,” CZ said at the time. The CoinMarketCap deal could be one of those two deals.

 

 

Binance has announced the launch of a crypto-to-crypto exchange in South Korea. The new venue will be open for trading on Apr. 4. Binance KR will be the first trading platform to be created with the help of Binance Cloud The local trading platform will offer its South Korean customers all the core functionalities of the main exchange.

 

As for supported coins, Binance will debut with four cryptocurrencies — Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Binance KRW (BKRW), a stablecoin pegged to the South Korean won. Binance KR also plans to add Tether’s USDT and its own dollar-backed stablecoin Binance USD (BUSD).

 

Regulations, CBDC

 

 

The Bank of France is now officially launching a program of experiments to test the integration of a CBDC for interbank settlements, inviting potential participants to submit their applications. According to a March 30 document, France’s central bank is calling for applications to experiment with the use of a digital euro, aiming to explore the potential CBDC opportunities for clearing and settlement of tokenized financial assets. Although the Bank of France previously called for blockchain-based settlement systems in Europe, the bank said that it doesn’t impose any specific technology within its newly announced CBDC experiment program.

 

As such, French central bank will select a maximum of 10 CBDC-related applications by groups or individuals, establishing “innovative nature” as a major selection criterion. According to a detailed document calling for applications, applications must be submitted by European Union-based applicants or in a state party to the European Economic Area agreement. Applicants can submit until May 15, 2020, while selection of applications will take place on July 10, the bank announced.

 

Blockchain, Technology

 

 

Berlin-based blockchain startup Spherity has developed a decentralized identity prototype that would help people get the medicines they need while maintaining proper social distance. The “E-Rezept” prototype relies on self-sovereign identity (SSI), a way of managing the various attributes that comprise digital identity in a decentralized manner. Moving things away from password-based centralized architectures allows the real owners of sensitive personal data to control and share it without compromising their privacy.

 

 

First announced on October 15th, 2019, Blockchain Service Network (BSN) is a trans-regional public infrastructure network jointly launched by the Chinese National Information Center, a state-run telecom company China Mobile, China UnionPay, Red Date, and other institutions like banks and government groups. Huobi exchange is also involved with the initiative.

 

Reportedly, the BSN is built upon the BCOS open-source protocol derived from Ethereum code. The protocol itself was developed by the Financial Blockchain Shenzhen Consortium (FISCO) which includes large corporations like Huawei, ZTE, Tencent, and WeBank. BCOS boasts Byzantine fault tolerance and supports Zero-Knowledge Proofs. There are also “observatory nodes” for the authorities to monitor the network.

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