Further, Binance corporation is looking to diversify its business interests by acquiring companies outside the scope of cryptocurrency.

[Report from the Financial Times]

“We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto,” said Binance corporation’s CEO Changpeng Zhao, affectionately known to his 5.3 million Twitter followers as ‘CZ’.

Already holding the title of the world’s largest crypto exchange, Binance Corporation is aiming to bring in companies from traditional markets. Further, they want to further increase broad-scale crypto adoption and diversify its own business.

In the interview, Zhao went on to say that nudging traditional companies to embrace crypto will put pressure on the slow-movers and increase overall market competition.

Binance Corporation is Not a New in Business!

This announcement comes not long after Binance’s corporation’s monumental $200 million investment in publisher Forbes, in early Feb. This investment has already solidified the Binance corporation as one of the two largest owners of the media company.

These moves continue to demonstrate the burgeoning real-world power of the cryptocurrency industry more broadly. Therefore, Binance is continuously growing to an estimated valuation of approximately $300 billion. We can say this is also one of the reasons why Changpeng Zhao is the 11th richest man in the world.

In addition, Crypto exchanges have previously plastered their logos on stadiums and stolen the show at the Super Bowl. They have acquired a significant stake in a legacy media company like Forbes that positions Binance Corporation as a serious player in acquisitions and investments.

Binance has dabbled before in buying assets and companies that sit outside of its immediate core business. Also, previously they have tacquired crypto data website CoinMarketCap in Apr. 2020, as well as purchasing a majority stake in the card-payment services giant Swipe in late Dec. 2021.

The post Binance Corporation Discloses Plans For World Domination By Buying Up Companies In Every Sector appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The 100 million-user Indian social network successfully deployed a beta testnet of the $GARI token to 500 dedicated community members. They deployed it in December 2021 in preparation for this week’s main net release.

Indian social networking platform Chingari has announced ambitions to revolutionize the experience of its 100 million-user creator economy. They’ve revolutionized by integrating natively digital assets, $GARI, and accompanying cryptocurrency wallets via the Solana blockchain.

Further, translating into the word ‘Spark’ in the languages of Urdu and Hindi. A branding visibly consistent with its flame icon. The Chingari user interface often draws parallels to popular Western entertainment services TikTok, Instagram Reels and YouTube Shorts. For its principal focus on short-timed, infinitely accessible video content.

Chingari Introduction

Launched in 2018, the platform has grown exponentially over the past few years. It has amassed over 35 million monthly active users. Therefore, this platform has become the most popular mobile application on the Google Play store in the country. 

Since April 2021, Chingari has obtained capital from numerous raises. It includes a $13 million corporate round on Apr 1, a $19 million Series A led by Galaxy Digital and Republic Crypto on Oct 8, and a $40 million initial coin offering on Nov.4, concluded by a $13.37 million Series A continuation on Jan 17 this year.

Cointelegraph reached out to a spokesperson from Chingari for an exclusive insight into the platform’s expectations for the ways in which the $GARI token will enhance the existing experience for both creators and fans alike.

The team member noted that GARI, a Solana Program Library (SPL) asset, will be utilized to “connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth”, before outlining:

“The goal is to empower both creators and viewers on the Chingari App with technological tools to interact directly with each other and allow all users on the Chingari App to participate in the long-term direction of the social economy impacting the GARI Token.”

In addition, they revealed future plans to launch an NFT marketplace. In this marketplace “creators will be able to mint their videos, sell it as NFT and earn GARI.”

Alongside this, the Indian government has adopted a firm stance to denounce the acceptance of cryptocurrencies. They’ve announced to introduce Bitcoin and Ethereum as instruments of legal tender, but rather to pursue the viability of a government-backed central-bank digital currency (CBDC), the digital rupee.

The post Chingari Integrates Native Tokens To Advance Web3 Social Networking appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

According to the regulators, Arsenal played down the investment in crypto assets and took advantage of consumers’ credulity and inexperience. Further, stated by the regulators that Arsenal failed to illustrate the risk of the investment. They haven’t made the clear in their advert that the token was a crypto asset.

Currently, club fan tokens are becoming a famous trend amongst sports clubs globally. They are using the strategy to use new avenues to embrace the blockchain by bringing their fans closer. Furthermore, Arsenal launched their token at the start of the year.

Fan Token Advert On the Facebook

The club placed an advert on its webpage on August 6 and on its Facebook page on August 12. They’ve asked the fans to download the Socios app in order to have a say in the type of song when the club won home games. Also, the ASA totally agreed with the approach of the club as the users were already familiar with digital tokens

Moreover, in response, an Arsenal spokesperson told the Guardian that the club takes its “responsibilities with regard to marketing to our fans very seriously. We’ve carefully considered the communications to the fans regarding the financial risks and regarding our promotions.

Further, the club has complied with the ASA’s directive with respect to the removal of the ads. The crackdown echoes the supposedly zero-tolerance against all forms of adverts bordering on cryptocurrencies in the UK.

Lastly, the crackdown on Arsenal’s move towards blockchain and digital tokens indicates one or more related events to come as digital currencies carve their path into the mainstream financial world.

The post UK’s Advertising Authority Orders Arsenal to Eliminate “Misleading” Fan Token Ad appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

In other updates from the crypto exchange, Binance has recently introduced Stock Tokens. With these tokens, users can trade fractional stocks. By the time of writing, it listed and opened trading for Tesla Inc. (TSLA) and Coinbase (COIN) Stock Tokens.

The CEO of Binance Changpeng Zhao has revealed that Binance’s plan for this year is to work on launching the Binance Card as soon as possible. In particular, the card will allow P2P crypto transactions and payments to merchants with cryptocurrency.

Binance Coin (BNB) has posted massive gains this year. Starting with the price of about $37.7 on January 1, the token grew to an all-time high of $637.44 on April 12, per Coin Market Cap data. It now ranks third among cryptocurrencies, with a market cap of over $79.6 billion. The token is now down over 6% from yesterday, trading at about $514 at the time of writing.

Analyst Nicholas Merten attributes the BNB rally to the delay in the Ethereum upgrade that made some traders migrate to Binance Smart Chain for altcoin trading.

The post New trading pairs available, and other Binance news appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The first stock token available for trading is Tesla Inc. In particular, the trading pair TSLA/BUSD has been available since yesterday, April 12, at 1:35 p.m. (UTC). Although this is the only stock token available at the moment, the source says it is planning to list more such tokens in the future. According to the announcement, trading stock tokens is not available for users in some countries. Please visit the original announcement for more information.

Tesla’s CEO Elon Musk is a supporter of cryptocurrencies. Moreover, as his tweets sometimes influenced Bitcoin price, a crypto trader in London has even built a bot that makes a Bitcoin purchase each time there is a tweet from Musk about it. In February, the company purchased Bitcoin worth $1.5 billion. Moreover, in March, Tesla also announced accepting the world’s largest cryptocurrency as a payment for its products for U.S. customers.

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