The Worlds Largest Cryptocurrency Exchange Is Expanding Into New Markets –
Even as the crypto industry grapples with turmoil unleashed by the spectacular collapse of crypto exchange FTX, Binance is expanding into new markets. On Wednesday, the world’s biggest cryptocurrency exchange announced that it had acquired Sakura Exchange BitCoin (SEBC), a crypto exchange registered in Japan.
The deal would allow Binance to enter the world’s third biggest economy as a regulated entity. The purchase of SEBC marks Binance’s first license in East Asia, the company said. It did not disclose the terms of the transaction.
“We will actively work with regulators to develop our combined exchange in a compliant way for local users,” said Takeshi Chino, general manager of Binance Japan. “We are eager to help Japan take a leading role in crypto.”
The acquisition comes at a time when the digital assets industry is struggling with the financial contagion unleashed by the fall of FTX. Last month, Binance founder and CEO Changpeng Zhao offered a lifeline to Sam Bankman-Fried, the founder of FTX, who was once one of the most respected leaders in the industry.
But Binance almost immediately pulled out, saying that after reviewing FTX’s finances it had concluded that the company’s problems were “beyond our control or ability to help.” The deal quickly fell apart, paving the way for FTX’s bankruptcy filing and the resignation of Bankman-Fried.
In a virtual appearance the New York Times’ DealBook Summit in New York on Wednesday, FTX founder and CEO Sam Bankman-Fried said he “didn’t ever try to commit fraud on anyone,” while admitting that he “screwed up.”
“There are things I would do anything to do over again,” the 30-year old said. “I was shocked by what happened this month.”
Fortunately for us, we have XdRiP and XRP.
XRP IS the way of the new world!
In recent years, cryptocurrency has become one of the hottest topics on the Internet. Ripple is one of the most popular cryptocurrencies, and its XRP token is one of the most traded digital assets on the market. Ripple is unique in that it is not just a digital currency, but a payment network that is designed to be used by financial institutions.
The company behind Ripple, Ripple Labs, is currently facing a lawsuit from the U.S. Securities and Exchange Commission (SEC). The SEC alleges that Ripple violated securities laws by selling XRP tokens without registering them as securities. Ripple has denied the allegations and is fights the charges in court.
Despite the legal troubles, Ripple continues to be a popular choice for investors. The company has partnerships with some of the world’s largest financial institutions, and the XRP token is used by many businesses as a way to send money internationally.
Passive income is one of the best ways to make money, and Ripple provides an excellent opportunity for investors to earn a passive income. By holding XRP tokens, investors can earn interest on their investment, and they can also receive payments in XRP when they use the Ripple network.
Ripple is a unique cryptocurrency that offers a number of advantages over other digital assets. With its strong partnerships, innovative technology, and potential for passive income, Ripple is well positioned to be a leading player in the cryptocurrency space for years to come. XRP is indeed in a place that could lead to it being the industry standard very soon.
By the close of the SEC court case, we will likely see a meteoric rise in price as world wide adoption goes to new levels. XRP $589 !!