- The UK has become a place where drastic action is being taken against cryptocurrencies.
- Many British banks discriminated against the Binance exchange.
- However, this time the situation is slightly different, the London court is seeking help from the Binance exchange on cybercrime.
So how does the UK, which is so tough against the Binance stock market and binance signals, ask for help? What does this mean? SafeTrading team will explain to you what will happen.
↑ UK and Binance exchange.
The British court has in some way confirmed its legitimacy by seeking help from the Binance exchange. Going into the details of the event, Fetch.ai, which conducts research in the field of artificial intelligence, was attacked. As a result of this attack, $ 2.6 million worth of cryptocurrencies were stolen from Fetch.ai. Unable to protect its Binance accounts, the company went to a London court. After filing the application, the court sent a letter to the Binance exchange regarding the detection of criminals and the freezing of assets.
Saidur Rahman, one of the lawyers for an artificial intelligence company, made a statement on the matter.
- “Cryptocurrencies, of course, have a limit, with the right rules and cooperation with exchanges, it can be removed if necessary.”
Some of the assets owned by Fetch.ai have been frozen by Binance. The exchange asked them to provide evidence that they were hacked in order to recover the assets – analyst of SafeTrading team.
↑ Binance and restrictions.
The UK Financial Conduct Authority has called on Binance Markets Limited to end its unregulated activities in June. Following this announcement, major financial institutions such as HSBC limited their payments to the stock market and warned their clients about some binance signals.
Registration on Binance
Despite many restrictions, Binance officials have made every effort to comply with applicable regulations. This is evidenced by a request for help from a London court. Binance has been recognized as a legal entity by British courts.
The CEO of Binance recently announced that his company will now comply with the rules before they appear. Today, the Binance exchange is expanding its activities and then trying to comply with the rules. But over the past few weeks, the company has changed that view. By continuing to expand its compliance team to this end, the exchange wants to ease regulatory pressure on it. The brand, which plans to open one company and a local stock market for each country, will develop good relationships with all local regulators.
FTX has been in contact with local regulators for some time and continues to expand in a controlled manner around the world. It looks like Binance will also be less of a problem if it goes the FTX route.
The incredible growth of the NFT OpenSea platform.
The trading volume of OpenSea, the public NFT trading platform for digital goods including collectibles, in-game items, digital hardware and other digital assets powered by the Ethereum blockchain network, has grown significantly.
↑ What has happened with the growth of the NFT OpenSea platform.
- The trading volume of OpenSea, the NFT trading platform, has increased by more than 12,000% since the beginning of 2021.
- The total market capitalization of OpenSea smart contracts surged from $ 73,556 on January 1 to $ 56.07 million last Wednesday, according to analyst firm DappRadar. Meanwhile, the number of marketplace users increased from 315 to 14,520 over the same period, an overall increase of 4,423%.
OpenSea saw the largest increase in transaction volume in June. So much so that in early June, when capital flowing into the sector was only $ 3.6 million, that number jumped to over $ 71,238 million on Sunday – analyst of SafeTrading.
On the other hand, the NFT OpenSea platform has processed a total of 1.18 million transactions worth $ 1.06 billion in the last 30 days. According to a report released on August 2 by crypto research firm Messari, the cumulative market volume to date is $ 1.02 billion.
↑ The demand for NFT is growing day by day.
The astounding boom in the NFT market earlier this year resulted in incredible OpenSea performance over the course of the year. Investors can create a photo, meme (joke), music album, basketball event, collage, tweet, video, etc. He bought millions of dollars worth of unique digital collectibles such as
Mike Winkelmann, professionally known as Beeple, sold $ 70 million worth of NFTs in March, driving NFT sales on platforms such as OpenSea and Rarible.
In some cases, the prices of blockchain-based NFTs representing paintings by Picasso and Monet matched the prices of original artworks. CryptoPunks has garnered quite a lot of attention in the NFT space lately, selling around $ 207 million in just one week.
In addition, the blockchain-based Axie Infinity gaming platform that allows you to sell, buy and breed digital pets (again, NFT) saw a record 6,500% revenue growth through the end of July. So much so that Stoner Cats, an animated cat movie, sold its NFT collection for roughly $ 9 million.