The CEO of the top cryptocurrency exchange Binance recently announced that the platform will launch futures trading in September this year. Changpeng Zhao, better known as CZ or the Binance CEO announces the new future trading platform launch – and it seems like every one of the best cryptocurrency news sites are reporting about it.
Zhao first voiced his statement on Twitter during an “ask me anything” (AMA) session on August 28. In it, Zhao revealed that this form of trading will come soon and added that the company will also “focus on the staking business.”
The fact that the Binance CEO announces future trading on the exchange is not new. In fact, last month we reported a statement from Zhao which went viral in the latest cryptocurrency news – showing that the company plans to launch a futures trading platform with initial support for BTC/USDT contracts with a leverage of up to 20x.
The CEO of Binance made the announcement during a keynote speech which was delivered at the Asia Blockchain Summit in Taipei. According to a reporter present on the scene, Binance CEO announces a futures trading platform, indicating at the time that while there is no exact launch data for the new “Binance Futures” trading platform – there will be a simulation test version expected to launch within a few weeks from now.
Meanwhile, the company (Binance) remains the largest cryptocurrency exchange in the world. The company was originally founded in China but later on moved its servers and headquarters to Japan, where it was forced to be relocated again. Affected by both the Chinese government ban on crypto trading in September 2017 and the Financial Services Agency in Japan (FSA), Binance decided to move its headquarters and completely relocate its business to the European island of Malta.
However, Binance is not the safest platform out there. On May 7 this year, the exchange revealed that it had been the victim of a “large scale security breach” where hackers managed to get away with 7,000 Bitcoin worth around $40 million at the time.
Still, the fact that the Binance CEO announces futures trading will likely move up the markets. Currently, the Bitcoin and altcoin news show that the situation remains unchanged from yesterday, as most of the top 20 cryptocurrencies record mild losses and the market is full of reds.
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