Binance Gives Reasons Behind CMC Purchase
In a recent interview with Coindesk, CZ of Binance explained the reasons behind the recent acquisition of Coinmarketcap, the original and first Crypto metrics website. It appears that CMC has been a target of CZ's for some time now. According to CZ, the purchase of CMC, for the most part was merely about acquiring a cash-flow positive asset. It is also thought that in time, Binance could utilize CMC as a channel to drive new business and users to Binance. Though it is said that for the time being, CMC will operate completely independently of Binance.
The fact that CZ has been trying to acquire CMC for a number of years is a sign that there is a very clear agenda to this acquisition. It also marks the single largest acquisition ever obtained by Binance!
Recent Survey Shows Surge In India's Adoption Of Crypto
A recent study released by Paxful, reveals a strong move towards Crypto in India. This, before and after the ban that was recently lifted by the high court on the 4th of March. Paxful is a peer to peer service and the survey conducted is related to P2P activity on their site. According to the survey, approximately 75% of users choose Crypto over traditional banking services to send money, as they believe the banking system is corrupt. Meanwhile around 65% believe that Crypto is a vehicle by which to attain financial freedom and independence.
The Paxful CEO, Ray Youssef also confirmed that the weekly and monthly volume was continuing to climb. A lifted ban and rising volumes within the Crypto space paint a sunny future for India. India has a tremendously large population and a strong move into Crypto will definitely have a positive spin for Crypto going forward.
Coinbase Invests $1 Million In DeFi Projects
Coinbase have just announced a $1.1 million investment into two Defi projects via their BootStrap Fund. The first to benefit is Uniswap, an Ethereum based DEX that runs with no order book whatsoever. Uniswap is an on-chain service that enables instant and automatic exchanges of digital assets. Coinbase have identified Uniswap as one of the most liquid exchanges built on Ethereum. Fees on Uniswap are generally in the region of 0.3%, which is typically the market price of most exchanges.
Secondly, there is PoolTogether, which is a rather unique idea in the DeFi space. You might have heard it discussed on Ivan On Tech, if you visit their live streams. PoolTogether offers an interest model rather unique to its competitors. Simply deposit Dai to receive tickets, each Dai earns you one ticket. At the expiry of the contract, one lucky winner receives all the interest that was generated during the contract. A lot of very interesting and groundbreaking advancements are being made in DeFi and it seems Brian Armstrong wants a piece of the pie!
See You In The Next One!
Today In Crypto will have a daily edition, so look out for tomorrow's edition. Many thanks to all my new followers and readers here on Publish0x, it's great to be here!
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