The cryptocurrency exchange Binance launched a new exclusive platform for institutional investors and VIP users, even in the current market downturn.
Call Institutional Binancethe new platform will offer specialized services to high net worth clients and institutional investors, among which are asset managers, hedge funds and family offices, according to the Business Insider.
Other services offered by the platform are asset management, brokerage program and algorithmic trading.
After the announcement of Binancethe exchange’s native token, BNB (BNB)went up 6.5%priced at $237, according to data from CoinMarketCap.
The news was announced at a time when cryptocurrencies suffer from constant drops, which affect their market value. The crypto market currently has a capitalization of $946 billion, a far cry from the record $3 trillion set in November 2021.
Despite that, the CEO gives Binance, Changpeng Zhao, left the market slump aside. Yesterday (23), Zhao wrote on Twitter: “I am very optimistic about the bear markets”.
Binance goes against competitors
Last week, the CEO of the crypto exchange announced the opening of 2,000 jobs.
“It wasn’t easy to say no to Super Bowl ads, stadium naming rights, big sponsor deals a few months ago, but we did it. Today, we have 2,000 vacancies on #Binance,” Zhao said on Twitter.
The new hires Binance go against the decisions of other cryptocurrency exchanges, affected by the current economic scenario and a possible recession.
At the beginning of the month, the Brazilian crypto exchange Mercado Bitcoin announced the layoffs of employees, citing an “adverse global scenario”.
“The change in the global financial landscape, high interest rates and inflation, has had a great impact on technology-based companies,” said the 2TM group, controller of the crypto exchange, in a statement, without mentioning the number of layoffs.
THE Coinbase (COIN)one of the largest crypto exchanges in the world, announced the resignation of 18% of the teamabout 1,100 employees.
Founded by the “Facebook twins,” Gemini announced earlier this month that would lay off 10% of its employees.
Crypto.com, meanwhile, reported the layoff of 260 employees, about 5% of the staff.
*With information from Business Insider
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
