The Daily Leo | Bitcoin Banks and Binance

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Bitcoin Banks and Binance

It seems that you can't keep Binance out of the news. They say, whoever they are, that there is no such thing as bad news! Well I am not so sure about that.

We all know about CZ having to resign as CEO and paying a $4 million USD fine, well it seems that Nigeria are aiming to outdo the US!

Earlier this week, the Nigerian government detained two executives of Binance who had flown into the country to negotiate with authorities amid the crackdown.

This matter took an even stronger turn.

The Nigerian government has imposed a staggering $10 billion fine on Binance as part of a crackdown on the platform in an effort to stabilize the nation’s local currency.

Bayo Onanuga, the special adviser on information and strategy to President Bola Tinubu, revealed the fine in an interview with the BBC, according to a report Premium Times reported on Friday.

According to Onanuga, Binance has allegedly profited significantly from “illegal transactions” in Nigeria while the country has suffered substantial losses.

It is always the little guy that gets screwed. Is it the fault of the general pubic that the Nigerian goverment could not manage it's way out of a paper bag?

So cutting off a means of survival for many Nigerians is outrageous and typical of the establishment!

So we have seen how Binance are being shut down in Nigeria, now we shift continents to Asia.

In an alleged effort to protect the normal investor many countries are regulating cryptocurrency providers...

One means of doing this is by having providers successfully register as Virtual Asset Service Providers (VASPs).

Recently Singapore had 70 applicants for their VASP program.

In Hong Kong the final registration date was 29th February 2024.

It was announced that only 24 applications were received. Major Exchanges Binance and Coinbase were not amongst the 24 applicants.

What does this mean?
The Hong Kong government also advised crypto companies that are already existing but do not wish to apply for regulation to wind down and discontinue their services. Since this would not be an easy process, they have been given time to effective cease all their business activities in the country. The deadline date for them is 31st May, 2024.

$520 million flows into BlackRock Btc ETF but can Blackrock offer you what inleo & Hive can?

Surely the ethos of Bitcoin when it was created was that is was for the masses! Well with governments increasingly colluding with each other and bringing in tighter and tighter regulations that are just harming the ordinay public while these corrupt fatcats sit in their mansions lording over the masses!

Since the introduction of Bitcoin ETFs Banks and financial institutions are seizing buying more and more Bitcoin.

Their customers are all subject to KYC unlike the decentralisation of a platform like Inleo on the Hive blockchain.

In one day $520 millions of USD flew into the Blackrock ETF. Quite impressive, but for who?

With a blockchain like Hive, you own the keys to your wallet where bitcoin is stroed. Here one does not need a third party like a bank or an ETF provider like Blackrock to hold the ETF for you.

In this concept owning BTC is all about true ownership which is much different than being invested in a bitcoin ETF.

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Kelexo Presale Now Live

Kelexo is a lending, peer-to-peer platform.

Users are in theory supposed to be able to lend-borrow money and repay it in monthly installments.

This would greatly increase the availability and open up the range of options for people that need to borrow a small amount of crypto (it has not actually stipulated what the upper limit will be, but it is generally assumed in will be limited to smaller more manageable amounts) and will give great earnings to the investors.

The PreSale is live and the token allocation is as per the screenshot above.

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Enjoy the crypto weekend, what alpha are you getting on?

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