Binance is Giving Away $1000 in BNB to 5 winners
The largest cryptocurrencies exchange in the world Binance is giving away $1000 in its cryptocurrency BNB to 5 winners each as New Year gift in a Twitter contest that will end on January 3rd, 2021.
According to a tweet posted on the official Twitter handle of the crypto exchange firm, to qualify for the contest and have a chance to win one must “Follow @binance, Retweet this post, Comment your 2021 crypto goal with the hashtag #BinanceResolution.”
SEC Accuses Founder Of Virgil Capital Stefan Qin Of Fraud, Receives Order To Freeze Assets
The Securities and Exchange Commission has accused the founder of Virgil Capital Stefan Qin of defrauding investors in its crypto trading fund, Virgil Sigma Fund LP ” by making material misrepresentations about the fund’s strategy, assets, and financial condition”
The SEC said on Monday that it has filed an emergency action and obtained an order to freeze the asset and other emergency relief of Virgil Capital and its affiliated companies over the alleged fraudulent activities.
The SEC added that Virgil Capital deceived investors by using their money for other personal and risky investment instead of crypto trading based on a proprietary algorithm.
Lending Platform Vauld Plans To Metamorphose Into Full Crypto Bank
Singapore-based lending platform Vauld has plans to metamorphose from a crypto lending and borrowing platform into a full crypto bank after raising $2 million in funding led by Pantera Capital.
The crypto firm will use funds raised from Pantera and other investors which include Coinbase Ventures, LuneX Ventures and individual investors to kick-start a crypto bank that will engage in payment and trading, over-the-counter (OTC) desk, fiat and crypto order books, and debit and credit cards for multiple countries, Coin Desk reported.
OKCoin, Coinbase Announces The Delisting of XRP From Trading Platforms
Crypto exchange platform OkCoin has announced January 4, 2021, as the date it will delist XRP from its platform and suspend its trading and deposits, stating that the case between Ripple and Security Exchange Commission might take time to resolve.
Like Coinbase has also announced that XRP will be suspended from its platform.
According to a statement released by OKCoin, all its clients that have borrowed from the XRP/USD margin are to return the borrowed value before 7:00 PM PST on January 3, 2021, while by 7:00 PM PST on January 4, 2021 spot trading, margin trading, and deposits will be suspended till further notice.