Binance Futures trading attracts a basic fee of 0.02% for makers and 0.04% for takers. Another driver of tether is margin trading collateral. Second, instead of asking for margin in Bitcoin (a volatile asset), it asked for (stable) USDT margin. Binance holds anywhere between 15B and 20B USDT, presumably this is mostly Binance customers posting USDT collateral for margin trading. They’re simply click the following internet site tokens issued on BNB Smart Chain that are "pegged" to assets on other chains (like BTC, XRP, USDT, etc.), meaning that they trade at the same price. Like Coinbase, Binance offers customers the ability to earn staking rewards for holding coins with the firm. The Company’s ability to continue operations after its current cash resources are exhausted depends on its successfully securing additional financing or achieving profitable operations in the medium term. If you are an old hand at trading and want something a little more advanced, the platform offers an Advanced Interface.
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Although the platform provides access to more than 200 coins and tokens, all are listed based on a risk assessment framework, and any that violate set parameters are quickly delisted to protect users. As put in USDC’s pitch deck risk section: "Our products may be used to facilitate fraud, money laundering, tax evasion and scams". The implied USDT peg also wobbled, though this may have happened before (causing liquidity firms to abruptly stop) or after (as a result of price spreads across exchanges). In my tether post I noted that crypto liquidity firms 1 all stopped at once on May 19th 2021. Within minutes, the price spreads between exchanges caused a flash crash. Tether only allows redemptions from its "customers" - a dozen or so exchanges and large trading firms. We know tether serves redemptions through sister company bitfinex. We also know tether commingled funds with bitfinex in the past 3. It’s entirely possible tether pays redemptions with bitfinex customer funds. Therefore, to learn how to buy Bitcoin and when to buy it as well as sell for greater returns is all possible with the help of sound analysis as this is based on the science and tools.
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It’s possible FTX, who also offer ridiculously leveraged futures contracts, take up the "leveraged garbage" torch from Binance, who took it from Bitmex - but it’s not seen in the data at the moment. I wonder what kind of KYC and AML procedures they’ve done for FTX, which, again, largely operates in Hong Kong/China, not with US Dollars. And again, if you’re using Binance Coin to pay, go ahead and deduct 25 percent from that tab. Building a decentralized exchange using Binance DEscripte script provides convenient and efficient for entering the world of decentralized. Everything that could work is working and I am using it to do actual work. "Given our portfolio composition in commercial paper, we believe that it is quite important to respect the privacy of the banking partners that we work with." That’s not a thing! In particular, the "cash & cash equivalents" section can include short term commercial paper, so USDC could be backed by up to 70%8 unnamed commercial p
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The bottom two rows are where redeemed USDT and USDC come from. Here, the first two rows are where newly issued USDT and USDC go. In December 2020, there were $4B USDC and they were all backed by dollars in a bank account. This speaks well of USDC, but it also makes it more likely for USDC to see a bank run. We don’t see this as much for USDC, however! By making it easy to redeem, USDC make it easier in bad times for its customer funds to see a panic selloff. As you can see in the third line, in December 2020, all of the USDC out there on the blockchains were Fully Backed By Reserves(TM) with actual money in an actual bank account. A complex business model like "someone gives you a dollar and you put it in a bank account" is expensive to run6. Back in 2017-2018, derivatives trading platforms like Bitmex exploded in popularity. This (unsurprisingly) dropped Bitmex trading volumes.
