6/4/2023 0 Comments Binance reddit![]() ![]() The release is expected to empower artists on Reddit, allowing them to create and sell their work, while earning royalties from secondary sales. The company has been successful in changing the narrative on NFTs, converting anti-NFT users to neutral and pro-NFT. The move has been hailed by many, with Reddit praised for its marketing and branding prowess. The latest release of Reddit Avatars on Polygon blockchain is expected to boost trading volumes further. In October 2022, the collection also made its way to the top 10 collections on OpenSea for the most sales in the week. The avatars became available for sale in August 2022, resulting in an impressive trading volume that saw the collection reach a new all-time high in trade volume as wallet holders closed in on $3 million. Users who purchase these collectibles can also set them as avatars on Reddit’s website. The nonfungible token (NFT) avatars were first introduced in July 2022, allowing artists to create and sell their work. The latest version of these avatars, which was deployed on April 5, has generated considerable buzz, with some users predicting a sellout within minutes. The release follows the successful deployment of the first and second generations of these collectibles, generating thousands of dollars in sales for artists. Recently, a report indicated that its founder was looking to reduce share ownership in Binance.US the crypto exchange that currently serves US crypto investors.Social news aggregation and discussion website, Reddit, has launched its third generation of blockchain-based digital collectibles, called “Reddit Avatars,” on the Polygon blockchain. ![]() We are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets.”Ĭanada, like most other developed countries, has been cracking down on crypto trading, applying more stringent rules to enhance investor protection as well as demanding compliance with KYC/AML rules – a characteristic for many crypto markets that simply did not exist for years.īinance had already announced the cessation of operations in Ontario and an intent to halt operations in the province last year.īinance is currently under investigation and the target of an enforcement action by the US Commodities Futures Trading Commission for “numerous violations.”īinance, the largest crypto exchange in the world, is a fat target for regulators in many jurisdictions. While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework. “Our remaining Canadian users are receiving an email with comprehensive information on how this will impact their accounts going forward. ![]() ![]() We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users.…īinance thanked the regulators who had worked with the crypto exchange adding that it was the home country of its founder, Chanpgeng Zhao (CZ) and thus held sentimental value.īinance said that new guidance regarding stablecoins and investor limits on its exchange make operating in the country not feasible. Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace. ![]()
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