Cypherfunks is swapping to Soniq

Decentralized crowdfunding platform Cypherfunks will undergo a swap on June 1 and become The Soniq
22 May 2018   1844

A decentralized global band crowdfunding initiative The Cypherfunks that uses cryptocurrency and collaboration is going to swap to Soniq. Soniq is going to be the skills exchange platform with the world's largest pool of music creatives and experts. The swap will start on June 1 and end on August 1. During this period owners of FUNK are eligible for the conversion into SONIQ token.

After the swap begins, a special Swap Platform will be made available to users. After an email registration, the users will receive an address where they will send their FUNK funds. These funds will be marked as unusable, and as the swap ends the users will receive the corresponding amount of SONIQ token.

The SONIQ funds will be transferred to the Ethereum address provided by users. The swap ratio is as follows:

At the moment of publication, The Cypherfunks market characteristics are as follows:

Average price 0.000033 USD
Market cap 1,578,265 USD
Volume (24H) 673 USD

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   247

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.


Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.