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Binance CEO First AMA of 2020 Goes Live, Here Are The Key Takeaways
Ricardo Martinez | Feb 07, 2020 | 17:00
Binance CEO Changpeng Zhao (CZ), has just given his first AMA of 2020. We’ll take a look at the most important announcements in 2020.
Binance has big things planned for 2020
Binance CEO CZ, just live streamed his first AMA of the year, and covered a lot of important changes that traders can look for in 2020. First of all, this is the first time CZ has done an AMA in 3 months and the first of the year.
Right off the bat, he was asked about the impact of Wuhan Corona Virus on Bitcoin. CZ responded by saying that he didn’t think it would affect Bitcoin specifically, but it could have a devastating impact on the wider global economy. Binance has pledged 10 rmb to fight the outbreak.
Binance is launching BNB futures with 50x leverage in 3 days, on Monday February 10, 2020. BNB futures will be the 16th asset added to Binance Futures. Binance Futures is currently the largest market for Tron (TRX) trading.
Binance futures is implementing Tic by Tic price data for efficient price discovery, and also adding BUSD a USD stable coin regulated in NY state, a strict regulatory regime. This will reduce risk and allow for lower fees.
WazirX, an Indian blockchain startup has partnered with the leading crypto exchange, has also just launched a successful IEO on Launchpad. It’s the second Indian Blockchain startup to launch on Launchpad, Matic was the first.
Binance is adding a bunch of new fiat gateways for foreign currencies like Norwegian, Russian, and Croatian fiat currencies. They also have crypto purchases with Russian credit cards available now.
Platform Launches New Broker Program
Binance has announced two new programs, a Peer 2 Peer market with 0% fees, (still need to AML/KYC, however.) and a Broker program. CZ is actively looking for Broker and P2P merchant partners.
The P2P merchants will provide fiat liquidity and help jumpstart a P2P market in developing economies. The broker program is for partners with a trading platform, they can push the trades through Binance’s API, and share in fee revenue.
Binance Chain, the blockchain powering Binance DEX, is also undergoing a bunch of development. CZ hopes to implement smart contracts and privacy features soon, making Binance chain more versatile.
BNB staking is still a ways off, however, CZ sites that there are already ways to earn interest on BNB like Binance’s lending program, which is risk minimized.
Binance’s segwit and Lightning Network implementation is also still a ways off, as it requires a lot of work to do securely. Binance’s wallet infrastructure is still using BTC legacy addresses.
CZ was also asked about Bitcoin’s upcoming halving. He said that he believed that we may see some short term run up in price due to the increased costs of producing Bitcoin, that miners will try to sell for more.
He also speculated that as Bitcoin’s existing emission schedule decreases, we will see an increase in new Bitcoin users also bolstering Bitcoin price.
What do you think of CZ’s AMA? Let us know in the comments!
Images via Shutterstock
