XTZ trading will open today at 9.00am EST on Binance.US. In the meantime, crypto markets are seeing red.
Binance.US, the United States arm of the Binance cryptocurrency exchange, is launching trading of Tezos (XTZ) on Monday, March 16th. According to a post on Binance US's blog, trading for XTZ/USD and XTZ/BUSD will open on Monday, March 16th, at 9.00 am EST.
Binance.US began accepting deposits of XTZ on Sunday, March 15th. However, withdrawals will not be enabled until trading is live. Binance.US also says that to deposit or exchange USD for XTZ, users are required to pass fiat verification in addition to basic and advanced identity verification on the platform.
At press time, Tezos was worth $1.31 per token, after having fallen more than 18 percent in the last 24 hours, and more than 50% since its all-time high of roughly $3.90 in February of this year. Tezos also held the spot as the tenth-largest cryptocurrency by market cap.
Tezos' recovery put on the rocks as crypto markets falter
Tezos was originally conceived in 2014 by Arthur and Kathleen Breitman, who went on to found the Tezos Foundation, which was incorporated as a nonprofit in Switzerland. The Tezos ICO, which was held in July of 2017, was record-breakingly successful, bringing in a whopping $232 million.
Tezos' operations were structured so that the Tezos Foundation would be able to hold the majority of Tezos' funds and pay Dynamic Ledger Solutions, a US-based firm that handled Tezos' operations. The structure was intended to allow Tezos to avoid paying taxes, but CoinTelegraph has reported that this wasn't effective.
The Foundation ran into trouble in 2018, when Johann Gevers, the former head of the Tezos Foundation, became embroiled in a highly-publicized spat with the Breitmans. The dispute temporarily set the project off its course and its timeline and caused the firm to be hit with several class-action lawsuits.
However, by 2019, the project showed signs of recovery--garnering support by high-profile investors such as Tim Draper and increased interest in its staking component. Cointelegraph also reported that a number of investors are interested in projects that are either already developing on top of Tezos' protocol, or will soon be developed on the protocol.
In particular, there is interest in Tezos as a platform for Security Token Offerings, or STOs. Recently, Tezos Commons community member and ReactCrypto journalist Will McKenzie posted a study claiming that Tezos will outperform Ethereum in terms of STOs. He cited, Mason Borda, the CEO of TokenSoft, who told McKenzie that within a year, 25%β35% of all STO issuances through TokenSoft would be on Tezos.
Binance.US, the United States arm of the Binance cryptocurrency exchange, is launching trading of Tezos (XTZ) on Monday, March 16th. According to a post on Binance US's blog, trading for XTZ/USD and XTZ/BUSD will open on Monday, March 16th, at 9.00 am EST.
Binance.US began accepting deposits of XTZ on Sunday, March 15th. However, withdrawals will not be enabled until trading is live. Binance.US also says that to deposit or exchange USD for XTZ, users are required to pass fiat verification in addition to basic and advanced identity verification on the platform.
At press time, Tezos was worth $1.31 per token, after having fallen more than 18 percent in the last 24 hours, and more than 50% since its all-time high of roughly $3.90 in February of this year. Tezos also held the spot as the tenth-largest cryptocurrency by market cap.
Tezos' recovery put on the rocks as crypto markets falter
Tezos was originally conceived in 2014 by Arthur and Kathleen Breitman, who went on to found the Tezos Foundation, which was incorporated as a nonprofit in Switzerland. The Tezos ICO, which was held in July of 2017, was record-breakingly successful, bringing in a whopping $232 million.
Tezos' operations were structured so that the Tezos Foundation would be able to hold the majority of Tezos' funds and pay Dynamic Ledger Solutions, a US-based firm that handled Tezos' operations. The structure was intended to allow Tezos to avoid paying taxes, but CoinTelegraph has reported that this wasn't effective.
The Foundation ran into trouble in 2018, when Johann Gevers, the former head of the Tezos Foundation, became embroiled in a highly-publicized spat with the Breitmans. The dispute temporarily set the project off its course and its timeline and caused the firm to be hit with several class-action lawsuits.
However, by 2019, the project showed signs of recovery--garnering support by high-profile investors such as Tim Draper and increased interest in its staking component. Cointelegraph also reported that a number of investors are interested in projects that are either already developing on top of Tezos' protocol, or will soon be developed on the protocol.
In particular, there is interest in Tezos as a platform for Security Token Offerings, or STOs. Recently, Tezos Commons community member and ReactCrypto journalist Will McKenzie posted a study claiming that Tezos will outperform Ethereum in terms of STOs. He cited, Mason Borda, the CEO of TokenSoft, who told McKenzie that within a year, 25%β35% of all STO issuances through TokenSoft would be on Tezos.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Broadridge to Bolster Prometheum's Digital Asset Securities Infrastructure
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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#fmas #fmas24 #fmevents #networking #finance #africa
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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