Mastercard, Binance to launch prepaid crypto card in this country

Please fol­low and like us:
Pin Share

  • Binance has part­nered with Mas­ter­card again to launch a pre­paid cryp­to card in Brazil
  • The cryp­to exchange has pre­vi­ous­ly launched the prod­uct in Argentina

Binance, the biggest cryp­to exchange by trad­ing vol­ume, has part­nered with Mas­ter­card to launch a pre­paid card in Brazil. The launch is part of Binance’s “efforts to broad­en the con­nec­tion between tra­di­tion­al finance and cryp­to.” Accord­ing to a state­ment giv­en to Reuters, the prod­uct is cur­rent­ly in beta test­ing and the cryp­to exchange expects it to be launched in the region with­in a few weeks.

While Brazil comes under Binance’s top ten largest mar­kets, the cryp­to exchange has pre­vi­ous­ly launched the same prod­uct in Argenti­na. The pre­paid card pro­vid­ed in the region extends pay­ment sup­port in Bit­coin (BTC) and Binance Coin (BNB). Addi­tion­al­ly, the card issued by Cre­den­cial Pay­ments could be used to make pay­ments for over 90 mil­lion Mas­ter­card mer­chants in the world.


Read Price Pre­dic­tion for Binance Coin [BNB] 2023–24


Binance token listing brings insider trading allegations

Sub­se­quent­ly, the cryp­to exchange is cur­rent­ly fac­ing alle­ga­tions of insid­er trad­ing. And, the one mak­ing the accu­sa­tions is Conor Gro­gan – Direc­tor at Coin­base. Gro­gan alleged that this prac­tice has been going on for over 18 months, claim­ing to have found wal­lets that pur­chased tokens before list­ing and then dump­ing after. A tweet by the Direc­tor read,

It appears that there is a pat­tern of Binance front-run­ning over 18+ months I found con­nect­ed wal­lets that: ‑Bought $900k Rari sec­onds before and dumped min­utes after list­ing ‑Bought ~78K ERN between June 17 and June 21 and sold right after list­ing announce­ment ‑Did same w/ TORN”

In addi­tion, Gro­gan stat­ed that there might be two pos­si­bil­i­ties behind this sce­nario. First, the trad­ing is car­ried out by a “rogue employ­ee” who has access to infor­ma­tion about token list­ing on Binance. Sec­ond, a trad­er has dis­cov­ered an “API or staging/test trade exchange leak”.

Coin­base – a promi­nent Amer­i­can cryp­to exchange – was the first cryp­to plat­form to get pulled up by reg­u­la­tors over insid­er trad­ing. One of the accused was sen­tenced to 10 months in prison, while the oth­er two are yet to have a hear­ing on their case.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *