Weekly Wrap-Up: Binance vs The World Part 2 (July 19, 2021)

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Market Price as of July 19, 2021:

Bitcoin$31,919+1.04%
Ethereum$1,905.72+0.31%
BNB$304.27+1.42%
DOT$12.77+0.5%
ADA$1.19+0.85%
DOGE$0.184290+0.33%
SLP$0.269800+0.85%
AXS$18.77+1.57%


Bitcoin closed July 19, 2021, at $31,919 per BTC. We’re up 7% in the last 7 days and up 9% in the last 30 days. This is also 50% below the all-time high of $64,804, which was hit on March 13, 2021.

Bitcoin’s market capitalization stands today at $587,384,001,465 which is 44% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,315,005,061,137 (-2.8%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.

Note: Information presented in this article is for your reference only and must not be construed as financial advice. 

News

Binance Ditches Stock Offering

Binance said it will stop the trading of stock tokens on the platform. Stock tokens are cryptocurrencies whose value is derived from the value of a particular stock, such as $TESLA. The move is effective immediately. 

“Today, we are announcing that we will be winding down support for stock tokens on Binance.com to shift our commercial focus to other product offerings. Effective immediately, stock tokens are unavailable for purchase on Binance.com, and Binance.com will no longer support any stock tokens after 2021-10-14 19:55 (UTC).”

Users have to sell their stock tokens by October 14 because all open positions will be closed the following day. 

While the news from The Block is a matter of fact, many publications are attributing this to the current global crackdown on Binance. One such jurisdiction is Thailand, which filed a criminal complaint for operating in the country without a license. 

Last week, CZ wrote a blog post addressing the issue. He noted his company’s approach and plans for regulations, including hiring Rick McDonell, the former executive secretary of the Financial Action Task Force (FATF), the global standard-setting body for AML. He also noted that they are localizing operations so each operation operates well within the laws of the jurisdiction where they are. 

Malaysia Police Crushes 1,069 Bitcoin Miners

In a report from The Star, police in Malaysia’s Sawarak State had seized 1,069 Bitcoin miners over electricity theft. The machines were worth $1.25 million and six people were charged and jailed up to eight months. 

Here’s the video: 

Local Crypto News

LINK, USDC, KNC Now Available at Coins.ph!

Coins.ph customers can now buy, sell, and hold USDC, Chainlink (LINK), and Kyber Network Crystal (KNC) on the platform, the company announced today. This comes after the increased local demand for cryptocurrencies coupled with the increase in the global market capitalization of cryptocurrencies. Users can check the new tokens when they download the most recent version of the Coins.ph app on Google Play and iOS. (Read More)

Celo, Grameen Foundation, Collaborate Anew For Blockchain-Enabled Support to 800 Filipino Workers

Global non-profit organization Grameen Foundation announced a new initiative that utilizes blockchain to provide capital support to micro entrepreneurs who are facing challenges because of the pandemic. This project, the “Social Dividend Campaign,” is in collaboration with Celo and is poised to help repatriated Overseas Filipino Workers who have lost their jobs and income. (Read More)

New BPI Head Doesn’t See Value in Crypto, Endorses CBDC Initiative

TLDR: The Above post, or check here.

Feature

These Merchants and Shops Accept SLP in the Philippines

In collaboration with Axie Capital, Inflatable Island PH, the biggest floating playground in Asia; The Dessert Museum, an interactive eat as you play and learn experience and Bakebe PH, a modern baking studio where anyone can bake with zero baking experience are now accepting SLP as one of their modes of payments and also providing discounts for those people who will pay using SLP. (Read More)

5 Upcoming NFT Games with Play-to-Earn Mechanics

Check out 5 upcoming NFT games with play-to-earn mechanics. You will be able to play these games where in-game assets can be turned to tokens with value. (Read More)

Buy Ethereum to Buy Axies Via PDAX

To buy Axies, you need Ether. You can do that on MetaMask, or you can do that on PDAX! The company shared this post (above) on Facebook on how to do the process.

Featured Image: CZ Surfing (Twitter)

This article is published on BitPinas: Weekly Wrap-Up: Binance vs The World Part 2 (July 19, 2021)

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]