Secure Asset Fund for Users Launched by Binance

From July 14, 10% of the commissions collected by the exchange will be transferred to a separate cold wallet
04 July 2018   287

Binance created the Secure Asset Fund for Users (SAFU), which will protect the users of the site in emergency cases. The decision was made after unusual transactions with API keys. 

Starting from July 14, 10% of the commissions collected by the exchange will be transferred to a separate cold wallet.

Since founding, Binance has always upheld our core values of spreading crypto and protecting users. Binance has achieved explosive growth in the first year. With this growth, we also experience many problems. We must reflect upon these problems, learn from them, and improve ourselves. We know in the course of making history, we will be tested again and again. We believe every test makes us stronger. And only if we fight together, can we move the industry forward. We thank all of our supporters, those who nudged us forward. We welcome your comments, suggestions and feedback. Thank you for being with us on our journey.  Binance will continue to push forward.
 

Binance Team

On July 3 the site administration noticed suspicious activity, accompanied by the rapid growth of the Syscoin (SYS) token, and decided to suspend trading.

To ensure the security of users, all API keys were deactivated, and suspicious transactions were canceled.

Earlier, on July 4, Binance announced that it had decided to conduct "unscheduled maintenance" after one of the users paid 96 BTC per Syscoin token.

BitForex to Become Trading Volume Leader

For a while, the indicator of the daily trading volume of the BitForex exchange was held at around $ 14 billion
02 August 2018   320

Due to the use of the so-called trans-fee mining model, little known crypto-exchange BitForex became the leader in terms of trading volume. This is reported by CryptoGlobe.

Coinmarketcap Trading Volume
Coinmarketcap Trading Volume

For a while, the indicator of the daily trading volume of the BitForex exchange was held at around $ 14 billion. To date, the value of this indicator has dropped to $ 5.3 billion. Nevertheless, it is more than five times higher than that of the popular Binance exchange.

Just yesterday, BitForex launched its BF token, which users of the trading platform can extract using the trans-fee model previously used on the CoinEx and FCoin exchanges.

The most popular trading pair on the BitForex exchange was BTC / USDT.

BitForex was launched in June this year. The site is based in Singapore, but Seychelles was chosen as the place of registration by the owners.

The company's website says that 80% of trade commissions are returned to holders of BF tokens. The latter will have the opportunity in the future to participate in solving key issues of the platform and its community. It is also indicated that the BF offer is limited to ten billion coins.