Binance Labs announced a strategic investment in Blum. Binance.US is working with crypto custody firm Fireblocks. The major crypto exchange will upgrade its spot and margin platforms! Here are the details…
Binance Labs Invests in Telegram’s Decentralized Exchange
Binance Labs, Binance’s venture capital and incubation arm, announced a strategic investment in Blum. However, it did not share any details about the financial details of the investment, such as the investment amount and valuation. Blum, a DEX, claims to blend the features of both centralized and decentralized platforms. Moreover, it is a Telegram mini-app that offers a simplified trading experience accessible from within its ecosystem. With Telegram’s massive user base of 950 million monthly active users, Blum aims to capture a significant audience. The integration on Telegram simplifies the transition from messaging to trading by increasing user reach and engagement.
Binance.US chooses Fireblocks
Binance.US, the American arm of the world’s largest cryptocurrency exchange by trading volume, is working with crypto custody firm Fireblocks to reassure users and regulators that customer assets on the exchange are being handled securely and compliantly, while also powering crypto-token staking services. Binance said it will use Fireblocks wallet technology, which will power hot and cold storage, as well as customer deposits and withdrawals. Fireblocks’ key management system will also help expand staking services on the exchange, which has a relatively wide range of staking tokens.
Major crypto exchange to upgrade spot and margin platforms!
Binance, a major cryptocurrency exchange, has announced that it will be performing a system upgrade for its Spot and Margin trading platforms. The exchange is scheduled to perform the upgrade on September 19, 2024 at 12:30 PM. It also expects the upgrade to take around 10 minutes. The exchange has assured users that trading activities will not be interrupted during this period. However, it has stated that there will be some temporary restrictions. In this regard, Binance has made the following announcement:
Dear Binance users, Binance will be performing a planned system upgrade starting from 12:30 on September 19, 2024. The upgrade will take approximately 10 minutes. Please be assured that users will be able to continue trading on Binance Spot and Margin during the upgrade.
The exchange noted that the main improvements in this upgrade are data system performance and stability improvements. It also noted the following services as affected:
- During the upgrade, App, Website and Desktop users will not be able to view open orders for orders placed during the upgrade. As a result, users may not be able to cancel pending orders as they will not be visible during this time.
- API users will continue to have the ability to receive open order data for their orders.
- Users can confirm whether their orders have been executed or placed by checking the asset balance changes in their Spot and Margin Wallets.
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