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Binance joins Neo Council, 2.1 million NEO used to secure two Top 21 positions

Binance Staking has secured two positions on the Neo Council. At the time of press, Binance has voted with approximately 2.1 million NEO to secure its places in the Top 21. Binance is the world's largest custodial exchange with nearly US $9.07 billion in 24-hour volume, according to CoinCap.io. Binance Staking is a service that allows users to earn distributions offered on proof-of-stake or other networks that distribute rewards to participants. The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively. In the announcement post, Neo Global Development said "Binance Staking's new membership in the ...
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The upcoming Bitcoin ETF


A couple of bitcoin ETFs are undergoing the approval process of regulation. The one that has undergone the process for the longest time is the Winklevoss bitcoin ETF. This process has been ongoing for the past 3 and so years. 

Bats has filed a proposed change of rule, which would necessitate listing of the ETF.Bats is the exchange that ETF would be listed on. The process has taken long since the SEC has chosen to extend the decision-making time. However, the decision will be, made by Match 11.

The SEC is considering a few factors in the process of coming up with this decision. The main factor is Bitcoin itself and the SEC is wondering if the digital cash is suitable for ETF since it is not under any form of regulatory monitoring. The SEC is also wondering about the stability, fairness, and efficiency of the markets in which the Bitcoin trades on and if the markets are subject to any form of market manipulation.

Moreover, SEC is considering the Bitcoin reference price and how the Bitcoin would securely be stored.

In the case Bitcoin would be adopted after approval by SEC, it would attract at least $300 million in the first week. A lot of institutional capital would flow into the Bitcoin due to its registration since most institutional fund managers have mandates that make them put funds into registered securities.

The effect of this is drying up of liquidity since everyone wants to buy the Bitcoin and hold it. Additionally, the public will stop seeing Bitcoin as a currency for purchasing illegal goods leading to a lot of People saving Bitcoins. Hence, the chance that regulators would enact regulation against Bitcoin would decrease. All these positive effects would eventually lead to an increase in the price of Bitcoin.

About Bitcoin

Bitcoin is digital cash that is peer to peer and that is also not issued by any central authority. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system

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