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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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Huobi Japan to raise another $4.6M in January 2020




Huobi Japan, the Japanese subsidiary of Singaporean crypto giant Huobi Group, is set to raise $4.6 million in January 2020. The exchange will raise the funding from Japanese financial services firm Tokai Tokyo Financial Holdings. The new funding comes just two months after the exchange raised another $4.6 million from FPG Corporation.

Tokai Tokyo signed a business alliance agreement with Huobi Japan which will see the two firms strengthen cooperation in the digital assets business. The financial services giant, which mainly deals in brokerage services, believes that blockchain and cryptos are about to explode in the Japanese market and it doesn't want to miss out.

In its press release, the company stated, "Here in Japan, the relevant ministerial ordinances are expected in force next spring. Therefore, we believe that the business dealing with crypto assets and blockchain will accelerate further."

Tokai Tokyo will promote new businesses in areas such as initial exchange offerings, crypto exchange, local currency issuance and the storage and management of cryptos. The firm will "consider expanding this business to partner regional banks in the future."

Huobi Japan was launched in January 2019. This was after Huobi Group acquired local crypto exchange BitTrade in September 2018, rebranding it into its Japanese subsidiary.

In October, the company raised ¥500 million ($4.6 million) through the issuance of new shares to FPG Corporation, a Japanese financial services group. The exchange pledged to channel the funds to expansion, staying true to their promise that they would 'aggressively scale up their platform.'

While Huobi Group has found great success in Japan, its push into the United States hasn't been as smooth. Last month, the exchange announced that it was set to freeze all U.S. accounts in a few weeks' time. The freezing followed months of gradual disabling of U.S. accounts as regulatory scrutiny mounted. Users were urged to withdraw their funds before November 13 or risk losing them.

Earlier this month, its U.S. subsidiary HBUS announced that it was halting operations. HBUS was around for just over 18 months before calling it quits. In more positive news however, Huobi has continued to expand into other territories including Thailand and Argentina.

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