Top Crypto Exchange Pre-Announces $81 Million Bitcoin Transfer
Binance, which recently introduced its own blockchain, is launching tokens pegged to major cryptocurrencies and will soon offer a Bitcoin-pegged coin too, according to a company spokesperson. The token will trade on Binance and will be backed by the native coin. The Malta-based company is now creating a reserve of the exact amount needed — 9,001 Bitcoin, in this case — in order to fulfill that backing.
The exchange has made a lot of changes recently. It diclosed a $40 million hack last month and amended its user agreement to bar U.S. traders from its core platform starting in September. Binance also updated its terms of service to say it is instead launching a separate exchange for Americans.