New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets Sep 18, 2020 at 21:45 UTC Updated Sep 30, 2020 at 00:02 UTC Harvest time (Robert Wiedemann/Unsplash) Following the massive indictments against BitMEX and its co-founders including Arthur Hayes for facilitating money laundering on their platform, CoinGeek published an article exposing a cartel of crime among exchanges and other digital asset institutions. Consequently, cryptocurrency exchange Binance and Changpeng Zhao also known as CZ is a natural next step—both for our Crypto Crime Cartel ... Wondering what bitcoin is backed by? The answer is nothing at all, but that’s actually not a bad thing. Like most modern currencies bitcoin is not backed by gold or other precious commodities. In a sense, bitcoin’s value is derived from our common belief that bitcoin has value. The same is true of the American dollar, the British pound, and the European Union’s euro, as well as nearly ... The largest cryptocurrency exchange by trading volumes, Binance will issue several tokens backed by cryptocurrencies on its proprietary blockchain. B In short, Bitcoin is a digital form of money that runs on a distributed network of computers ().In a broader sense, though, many people often use the word Bitcoin to refer to a few different things: a digital currency, a decentralized public ledger, a protocol, or simply the big ecosystem that encompasses all of these. As Western tech giants like Facebook compete to bring cryptocurrency-enabled financial services to Africa, Binance's new African-run Bundle intends to leap-frog traditional finance altogether.
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